There are only a few days left for Finance Minister Nirmala Sitharaman to present the much-awaited Union Budget, which is set to be unlike any other previous Budgets. Due to the Covid-19 norms, the Budget document will not be printed, but will be presented in a digital format for the very first time.
As is the case every other year, experts and the aam aadmi alike will have their eyes fixed on a possible revision of the income tax slabs as the government seeks to plug the hole in the Indian economy that the Covid-19 pandemic ate into.
India has had its share of iconic and revolting revisions of the income tax slab, but none come quite as close to this:
In the 1955-56 Union Budget, Finance Minister C D Deshmukh sought to push the tax slab for married Indians from Rs 1,500 to Rs 2,000 and bring down the same for unmarried Indians from Rs 1,500 to Rs 1,000.
As quoted by Times Now, Deshmukh had said that the reason for introducing a separate tax slab for married and unmarried Indians was to make a "suitable scheme of family allowances."
The remaining five tax slabs were not changed.