India offers middle-class tax relief to support growth

India offers middle-class tax relief to support growth; targets narrower budget gap
India plans to cut personal income tax rates to boost middle-class spending power, Finance Minister Nirmala Sitharaman said on Saturday, as she announced an annual budget that also sought to increase private investment to strengthen growth.
Budget 2025: Significant Tax Cuts and Reforms to Empower Middle Class and Boost Economy | ABP NEWS
The recent Indian Union Budget presented by Finance Minister Nirmala Sitharaman brings significant tax relief to the middle class. Under the new tax regime, individuals with income up to ₹12 lakh will not have to pay any income tax.
Takeaways from India’s budget that slashes income tax on the salaried middle class to spur growth
Indian Prime Minister Narendra Modi’s government has presented an annual budget that focuses on wooing the salaried middle class with tax cuts and spurring economic growth by boosting agriculture and manufacturing.
INDIA BUDGET-India's Tax Cut Plans Will Boost Consumption, Top Execs Say
This comes after the government said that people earning up to 1.28 million rupees ($14,800) per year will not have to pay any taxes, raising its threshold from 700,000 rupees. It also cut tax rates for people earning above the new threshold.
Tax relief for Indian middle class - but will it boost economy?
The finance minister announced steps to tackle slowing growth, rising prices and low middle-class consumption.
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