Progressive Indian Budget aimed at Viksit Bharat@2047 |
India’s Union Minister for Finance and Corporate Affairs, Mrs. Nirmala Sitharaman, presented Union Budget 2025-26 in the Parliament on 1 February 2025. Hailed as a reformist budget by the Bharatiya Janata Party (BJP) government of Prime Minister Narendra Modi, the budget’s most exceptional step is to raises the slab by 40% for taxation for lower and somewhat the middle-middle class is appreciated by the working class, especially the youth. No taxes will be levied on persons earning US$ 14,655 a year. Senior citizens are given benefits of reduced taxation on interest earned. Tax Deduction at Source (TDS) and Tax at Source on Remittances (TCS) has been streamlined. Many schemes for investments in innovations and MSMES, hastening steps for the ease of doing business and concessions to industry and business are welcomed. Attached are the highlights of the budget as provided by the spokesperson of the Government of India.
Indian Union Budget 2025-26 presented on 1 Feb 2025
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