Neo-middle class driving India’s demand, jobs & economic growth: PM Modi

Bengaluru: Prime Minister Narendra Modi on Friday said the rising aspirations of India’s expanding middle class are generating fresh demand, creating jobs and emerging as a primary engine of economic growth.

Speaking after launching development projects worth Rs 15,000 crore—including a new Namma Metro stretch—in Bengaluru, Modi said a new aspirational class has emerged since 2014 due to the central government’s 'Sabka Saath, Sabka Vikas' approach. This surge in aspirations, he said, was fuelling demand across sectors from automobiles and electronics to tourism and services, spurring new factories and employment opportunities.

Modi noted that protecting the interests of this neo-middle class remained a priority for the Centre. The government, he added, boosted household savings and disposable income by exempting annual income up to Rs 12 lakh from IT, easing TDS rules for senior citizens and rental income earners, lowering prices of everyday goods through GST reforms, and abolishing GST on personal health and life insurance.


Highlighting energy security as critical to building a developed India, Modi pointed out that the ongoing conflict around Iran and the Gulf region underscored the importance of energy resilience. He said India has withstood global energy challenges due to measures taken over the past decade, including expanding petrol, diesel and LPG production capacity, developing crude oil storage, achieving near-total electrification, and scaling up solar, hydro and wind power alongside public transport.

The PM said India’s renewable energy capacity has crossed 300 GW, while nuclear power capacity is also being expanded to meet rising electricity demand from emerging sectors such as semiconductors, artificial intelligence, data centres and quantum computing.

Under the PM Surya Ghar Free Power Scheme, Modi said over 60 lakh households nationwide have installed rooftop solar plants with central assistance of about Rs 80,000 per family.

In addition, about eight lakh solar pumps are providing irrigation to farmers in Karnataka under the PM-KUSUM scheme, turning citizens and food growers into energy producers while cutting power costs, he said.

Modi added that the three energy projects launched in Karnataka on Friday will further bolster national energy security: the Mangaluru LPG project will add 80,000 metric tonnes of storage capacity, the Devangondi Marketing Terminal will streamline petrol, diesel and aviation fuel supplies, and a compressed biogas (CBG) plant in Bengaluru will produce 13 tonnes of biogas daily, aiding waste management and reducing natural gas imports.