With the new tax slabs, the standard deduction of ₹75,000, over and above the ₹12 lakh limit under the new tax regime, furthers the agenda of driving up savings, investments and consumption.
The income tax reforms introduced in the budget are among the biggest in the last decade — simplified and rationalised to put more money in people's hands without compromising the fiscal deficit.
Allocation for rural development inched up Rs2.66 lakh cr for FY 26 from Rs 1.90lakh crore (revised estimates for FY 25). Budget estimates for FY 25 were at Rs 2.65 lakh crore.
Direct tax reforms have eased the burden on the salaried middle class, with broader economic ripple effects. The logic is simple—every rupee saved in taxes is a rupee potentially spent, fueling ...