As the wait finally comes to an end and Union Budget 2026 is just hours away, India’s middle class isn’t chasing flashy announcements or headline tax cuts. What it wants is simpler and more urgent, i.e., stable incomes, tame inflation, and policies that ease everyday costs, from housing and healthcare to routine household expenses.
To understand these expectations better, IndiaToday.in spoke to Anuj Mundhra, Founder, Chairman & Managing Director of Nandani Creation Limited (Jaipur Kurti), Vijay Raundal, Managing Director of Teerth Realties, and Ranjit Jha, MD and CEO of Rurash Financials.
For the middle class, higher purchasing power begins with steady employment and controlled inflation. Anuj Mundhra believes this should be at the heart of Budget 2026.
“Once economic confidence improves, spending on ethnic wear will rise naturally. This has a cascading impact, benefiting artisans, weavers and MSMEs connected to the sector,” he notes.
He also draws attention to the need for policy support at the grassroots level. “can help maintain price stability. That is crucial for value-for-money consumption while preserving quality and craftsmanship.”
Housing remains one of the biggest pain points for middle-income households, as property prices and construction costs continue to climb.
Vijay Raundal says affordable housing has become about more than ownership, it is about long-term sustainability. “Rising property prices and construction costs have made affordable housing less accessible for working middle-class families,” he says.
He hopes Budget 2026 will focus on faster project approvals, mass housing and better infrastructure in peripheral areas. “But beyond that, there is strong hope for rental housing schemes, renewal of older housing stock and public-private partnerships that increase supply without sacrificing quality.”
Raundal believes quality homes closer to economic centres could ease daily stress. “Reducing long commute times can significantly improve quality of life for middle-class workers.”
From a financial planning perspective, the middle class enters Budget 2026 in a relatively stable position, says Ranjit Jha.
“The government has already provided meaningful relief by increasing the tax-free income threshold to over Rs 12 lakh under the new tax regime and lowering GST on select items,” he explains. “As a result, concerns around high personal taxation have eased.”
This year, expectations are more measured. “People are looking for , price stability and and long-term savings rather than aggressive tax cuts,” Jha adds.
On housing loans, Jha believes interest rates will continue to be shaped by inflation and RBI policy rather than budget announcements. “With inflation under control, rate stability seems more likely than further cuts,” he says.
However, he sees room for meaningful reform elsewhere. “Clear land titles, simpler ownership documentation and regulatory clarity can go a long way in . Structural reforms matter more than short-term incentives.”
Despite broader economic stability, daily inflation remains the biggest concern for middle-income families.
“Fuel prices, LPG cylinders, milk, dairy products and essential vegetables directly affect household budgets,” Jha says. “Managing these costs matters far more to families than headline inflation numbers.”
Rising prices of essential items have made middle-class consumers far more
Mundhra explains that for ethnic retail brands, consumption is closely linked to income stability. “Clothing purchases by the middle class are largely event-driven, i.e., festivals, weddings and family occasions. These are among the first expenses to be deferred when household budgets come under pressure,” he says.
He adds that higher essential costs over the past few years have pushed consumers towards planned, need-based spending. “There is a clear shift towards value sensitivity. People want quality, but only if it feels worth the price.”
A budget focused on everyday realities
Taken together, the middle class is seeking a balanced Budget 2026, i.e., the one that protects jobs, keeps essential costs under control, improves access to housing and supports value-driven consumption.
For millions of households, the real test of the budget will not be flashy announcements, but whether it makes daily life a little more affordable and a lot more stable.