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Finance Minister Nirmala Sitharaman tabled the much anticipated Union Budget for FY 2025-26 on February 1, which also marked a record 8th Budget presentation for the 65-year-old. In a major relief to the middle class, Sitharaman announced that there would not be any tax liability on income upto Rs 12 lakh for salaried persons under the new tax regime and raised the basic exemption from Rs 2.5 lakh to Rs 4 lakh.
Speaking on this front, Mahesh Patil, CIO, Aditya Birla Sun Life AMC Ltd, said, "Budget remains on fiscal consolidation path. It focuses on simplification of tax structure to ensure ease of business. A big boost to consumption by more money at the hand of consumers."
"Thus, a balanced budget with focus on stimulating demand side and continuing with investments. We believe this budget and the likely easing of liquidity in the monetary policy next week will pave the way for recovery in the economy.”
Union Budget 2025 | Nirmala Sitharaman, as Finance Minister, presented her record 8th Union Budget this time. While inflation has burnt a hole in the pockets of 'aam janata', the Modi govt gave income tax relief for those making up to Rs 12 lakh per year in salaried income. Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.