CRED CEO Kunal Shah Welcomes Tax Exemption, Predicts Boost in Gen Z Spending

CRED CEO Kunal Shah Welcomes Tax Exemption, Predicts Boost in Gen Z Spending

Summary: The Union Budget 2025 introduced a tax exemption for individuals earning up to Rs 12 lakh, a move welcomed by CRED CEO Kunal Shah. He highlighted the policy’s potential to boost consumer spending, particularly among Gen Z. Shah’s post on X (formerly Twitter) gained significant traction, with many users agreeing that the increased disposable income would benefit sectors like technology, travel, dining, and lifestyle products. Users also pointed out the positive impact on the economy and startups, especially in the D2C space. Experts anticipate that the policy change will drive economic growth by enhancing spending habits among younger consumers.

The announcement of a tax exemption for individuals earning up to Rs 12 lakh in the Union Budget 2025 has been met with widespread appreciation. Among those welcoming the move is CRED CEO Kunal Shah, who highlighted its potential to significantly impact consumer spending, particularly among Gen Z.

Reacting to Union Finance Minister Nirmala Sitharaman’s Budget 2025 declaration, Shah took to X (formerly Twitter) to share his insights. He wrote, “New income tax limits could cause big jump in Gen Z consumption spends.”

Shah’s statement suggests that with increased disposable income, younger generations are likely to amplify their spending across various sectors, including technology, travel, dining, and lifestyle products. His post quickly gained traction on social media, amassing over 380K views and igniting discussions among netizens.

Many users resonated with Shah’s perspective, emphasizing the broader economic implications of the revised tax policy.

“Good for D2C startups,” one user commented, acknowledging the potential benefits for direct-to-consumer businesses.

Another user wrote, “Good for the economy,” underscoring the expected rise in consumer spending and its positive ripple effects on various industries.

A third user elaborated on the sentiment, stating, “New tax policies can significantly influence consumer behavior, particularly among younger generations who prioritize spending on experiences and technology.”

With this policy change, industry experts anticipate a surge in spending habits, driving growth in multiple sectors and fostering economic dynamism. As Gen Z gains greater financial flexibility, businesses catering to their preferences may witness a notable boost in demand.

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