Brief by Shorts91 Newsdesk / 08:02am on 01 Feb 2025,Saturday India
Finance Minister Nirmala Sitharaman announced in Budget 2025 that individuals earning up to ₹12 lakh annually will pay no income tax under the new regime. The revised slabs include 5% for ₹4-8 lakh, 10% for ₹8-12 lakh, and 30% for incomes above ₹24 lakh. "The middle class provides strength to the economy," she stated. The move aims to ease financial burdens, boost disposable income, and drive economic growth. Experts believe the changes will increase spending, savings, and investment. This is one of the biggest tax reforms in recent years, benefiting salaried individuals and small business owners.
