Current Affairs - Finance - Discussion

In the Union Budget 2025, Finance Minister Nirmala Sitharaman introduced a significant reform where individuals earning up to ₹12 lakh will not be required to pay any income tax under the new tax regime. This move aims to provide relief to the middle class and stimulate economic growth by increasing disposable income and encouraging higher consumer spending. Additionally, salaried individuals have a slightly higher exemption limit of ₹12.75 lakh, considering the standard deduction of ₹75,000.