Budget 2024: New Income Tax Slabs & Rate Cuts Will Benefit the Middle Class?| Explained
Video Credit: Oneindia - Duration: 05:45s - Published
Budget 2024: New Income Tax Slabs & Rate Cuts Will Benefit the Middle Class?| Explained
Finance Minister Nirmala Sitharaman revised tax slabs in the new regime, expanding the first taxable bracket from ₹3-6 lakh to ₹3-7 lakh, while maintaining the 5% tax rate.
Standard deductions were increased, but details weren't provided.
No changes were made for incomes below ₹3 lakh, the ₹12-15 lakh slab, or incomes above ₹15 lakh.
These adjustments aim to benefit the middle class by potentially reducing their tax burden.
However, the full impact depends on individual financial situations and requires further analysis.
MP Raghav Chadha countered finance minister Nirmala Sitharaman's claim on the new tax relief in the Union Budget, clarifying that it is a rebate, not an.. IndiaTimes
Budget 2025: वित्त मंत्री निर्मला सीतारमण (Finance Minister Nirmala Sitharaman) ने अगले हफ्ते एक नया इनकम टैक्स विधेयक (New Income Tax Bill) पेश करने की घोषणा की है. New Tax Regime के तहत 12 लाख तक की इनकम टैक्स फ्री कर दी गई है. क्या अब इसके बाद Old Tax Regime खत्म हो जाएगी?
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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 to the middle class, including income tax exemptions and increased deductions. A standout feature is the duty exemption on essential medicines, which will lower healthcare costs for citizens. The government also announced measures to boost infrastructure development, enhance digital connectivity, and promote green energy. The FM emphasized that this budget is designed to create a more inclusive, resilient, and self-reliant India, aligning with the vision of a "Viksit Bharat."
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In a symbolic and auspicious gesture, President Droupadi Murmu offered ‘Dahi-Cheeni’ (curd and sugar) to Finance Minister Nirmala Sitharaman before she presented the Union Budget 2025. The tradition, considered a sign of good luck and success, underscores the cultural significance of the budget day. As Sitharaman prepared to unveil key economic policies, tax reforms, and welfare measures, this moment added a touch of tradition to the nation’s most anticipated financial event. Stay tuned for key budget announcements shaping India’s future!
#Budget2025Live #UnionBudget2025 #NirmalaSitharaman #IncomeTaxBudget2025 #Budget2025India #BudgetSessionLive #Budget2025Expectations #BudgetNewsLive #BudgetSpeech2025 #2025BudgetHighlights #BudgetForFarmers #RailwayBudget2025 #TaxRelief2025 #EconomicGrowth #FinanceMinister
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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 strong emphasis on empowering youth through job creation, skill development, and entrepreneurship initiatives. Women’s welfare remains a key pillar, with increased allocations for financial inclusion, healthcare, and self-help groups under the ‘Nari Shakti’ initiative. With a balanced approach toward economic growth and social welfare, the budget aims to boost prosperity while ensuring inclusive development.
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