Well-thought, beneficial for middle class, say businessmen

When the middle class has more disposable income, consumption increases, which in turn boosts industrial production. This will encourage greater private sector investment in CAPEX. The Budget sets in motion a new positive cycle. Manish Singhal, Secretary General of ASSOCHAM

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The newly-announced tax slabs in Union Budget 2025 have brought significant relief to the Indian middle class, while the business community has lauded the move as a strategic decision that will fuel economic growth.

The revised tax structure, unveiled by Finance Minister Nirmala Sitharaman, ensures that individuals earning up to Rs 12 lakh a year and salaried taxpayers with earnings up to Rs 12.75 lakh a year (including standard deduction) will not have to pay any income tax.