They called for more jobs, increased investments in education and health, and less privileges for the political class.
Saturday's protest, named "No Monti Day", was organised by labour unions, students associations, political groups and the unemployed, Xinhua reported.
"We are opposing a devastation in the labour world and life of common citizens," one of protesters said.
Prime Minister Mario Monti's "government was only able to push through tough measures that led to more precariousness in the labour market," he said.
The protesters carried banners that read "Away Monti" and "Cuts, only cuts". Similar protests were also held in Riva del Garda town in northern Italy.
Rome Some 150,000 people have converged here from across Italy to protest against the government's tax hikes and welfare cuts.
First Published: Sunday, October 28, 2012, 10:56