Budget provides marginal relief for those taxpayers whose income exceeds ₹12 lakh p.a., says Nirmala Sitharaman
Union Minister Nirmala Sitharaman speaks in the Lok Sabha during the Budget session of Parliament, in New Delhi, on March 25, 2025.
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Finance Minister Nirmala Sitharaman announces unprecedented tax relief and realistic growth projections in personal income tax collection.
Finance Minister Nirmala Sitharaman on Tuesday (March 25, 2025) said the Finance Bill 2025 provides unprecedented tax relief, and the 13.14% projected growth in personal income tax collection is "realistic" and supported by solid data.
Replying to the discussions on Finance Bill 2025 in the Lok Sabha, Ms. Sitharaman also said the customs duty rationalisation announced in the Budget will support manufacturing units, domestic value addition, promote exports, facilitate trade and also provide relief to the common people.
Finance Minister Nirmala Sitharaman on Tuesday (March 25, 2025) said the Finance Bill 2025 provides unprecedented tax relief, and the 13.14% projected growth in personal income tax collection is "realistic" and supported by solid data.
Replying to the discussions on Finance Bill 2025 in the Lok Sabha, Ms. Sitharaman also said the customs duty rationalisation announced in the Budget will support manufacturing units, domestic value addition, promote exports, facilitate trade and also provide relief to the common people.
Union Budget 2025: Tax bonanza for middle class
In the 2025-26 Budget, the government has hiked income tax rebate to ₹12 lakh per annum from ₹7 lakh earlier. For the salaried class, this rebate will be ₹12.75 lakh per year after taking into account the standard deduction. The hike in I-T rebate
2025-03-26
By
Anushka Tripathi
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