Budget 2025 has increased the limit of income tax to 12lakhs
@aninditasen (16554)
Raurkela, India
February 1, 2025 8:12am CST
The finance minister in India has increased the income tax limit to 12lakhs for budget 2025. That means a person does not have to pay any income tax till his salary reaches above 12lakhs. The problem is very less people in India are earning a good salary. There's a need for sustainable earning and jobs for the Indians. Moreover the Delhi election are knocking at the door.
4 people like this
2 responses
@RebeccasFarm (91125)
• Arvada, Colorado
7h
Yes that is the main issue not many are earning enough.
2 people like this
@ptrikha_2 (47261)
• India
3h
It is a result of Politico-Economic calculations.
Political factor : Upcoming Delhi State Assembly elections.
Economic : Economic Survey plus regular report show Economy in distress.
Urban consumption has been outpaced by rural albeit by a few points.
Even festive season did not lead to good demand rise.
Many Industries as well as Services sector is facing downturn or slow growth.
Deposit growth in banks is slow.
Persisting high interest rates are proving to be detrimental. Inflation still bites.
So income tax changes were in fact direly needed.
However, FM should have at least removed GST or reduced it on Life and Medical Insurance and any kind of medical devices.
Plus I need to see if the spending on Healthcare & Education has seen any jump from the Government as they are very much needed.
