Takeaways from India's budget that slashes income tax on the salaried middle class to spur growth
Saturday, 1 February 2025 () Indian Prime Minister Narendra Modi’s government has presented an annual budget that focuses on wooing the salaried middle class with tax cuts and spurring economic growth by boosting agriculture and manufacturing. In her budget speech Saturday, Finance Minister Nirmala Sitharaman said the government is focused on boosting private investment to strengthen growth, increasing funding in the agriculture sector and enhancing the spending power of India’s middle class. She raised the starting point for income tax to $14,800 from $8,074. India, the world’s fifth-largest economy, is expected to post its slowest growth in four years due to a sluggish manufacturing sector, food inflation, stagnant job growth and weak urban consumption.
In a major relief for taxpayers, Finance Minister Nirmala Sitharaman announced that individuals earning up to ₹12 lakh annually will now be exempt from paying income tax. This unprecedented move aims to boost disposable income, drive consumption, and provide financial relief to the middle class....
Finance Minister Nirmala Sitharaman presented the Union Budget 2025, packed with key highlights aimed at fostering economic growth and social welfare. The budget focuses on providing significant relief..
Finance Minister Nirmala Sitharaman concluded the Union Budget 2025 speech with a major announcement on income tax relief, offering significant benefits to middle-class taxpayers. The budget places a..
Minutes before unveiling Budget 2025, Finance Minister Nirmala Sitharaman was seen posing outside the North Block, home to the Ministry of Finance. Dressed in a traditional saree and holding the iconic..
Congress MP Manish Tewari criticized the budget as an annual accounting exercise and suggested submitting income and expenditure statements in Parliament.... IndiaTimes
Union Finance Minister Nirmala Sitharaman on Saturday announced that income up to Rs 12 lakh will be tax-free, providing major relief to the middle class Mid-Day
Saturday, 1 February 2025 ()
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