Budget 2025: Finance Minister Nirmala Sitharaman emphasized the importance of democracy, demography, and demand in driving India’s growth. She also acknowledged the vital role of the middle class in nation-building. In a significant announcement, Sitharaman announces that individuals with an annual income of up to Rs 12 lakh will be exempt from paying income tax under the new tax regime.
This tax reform is expected to bring significant relief to salaried individuals, particularly those in the middle-income bracket, resulting in substantial savings. With more money at their disposal, they may invest in assets like mutual funds, stocks, and real estate, boosting their savings. Moreover, the increased tax relief could stimulate household consumption, providing a much-needed boost to various sectors of the economy.
Notably, the Finance Minister Nirmala Sitharaman presented her 8th Budget and the Modi government’s second Budget of the third term of the NDA government at 11 am today, February 1. With this, she became the country’s first Finance Minister to present the Union Budget for the 8th consecutive time.
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