Relief Finally for Inflation-Hit Middle Class Taxpayers

The inflation-battered middle class, which desperately pinned hopes on Union Finance minister Nirmala Sitharaman for income tax (IT) relief, was left elated with the extent of exemptions announced in the Union Budget.

- Diana Sahu @ Bhubaneswar

City-based banker Abhisek Mohapatra said, for the first time, the budget day actually brought good news for the salaried class. "Tax relaxation had not happened for years. It is evident that a majority of the people belong to the income slab below ₹12 lakh and they would now be exempted. The new slabs will contribute to more disposable income. Both savings and expenditure will also go up. The salaried class above ₹12 lakh income will also benefit as their IT slabs have been lowered," he added.