The message from India’s Budget 2025 was subtle, yet clear: the middle-income class has to spend more to boost corporate earnings and spur the economy.

India is expected to cut interest rates for the first time in nearly five years on Friday to provide stimulus to its sluggish economy, with easing price pressures giving policymakers more room to manoeuvre.

Central banks around the world cut interest rates last year, with India maintaining higher rates due to lingering inflation. India maintained high rates due to lingering inflation. Last year, India's economy grew at a rate of 8%.