The new structure will substantially reduce taxes on the middle class.
New Delhi:
Finance Minister Nirmala Sitharaman presented her eighth consecutive Union Budget today. The centre announced major reforms for ease of doing business, MSMEs, startups and tax reforms for the middle class.
The government has revised the tax slabs and rates under the new regime to reduce the burden for all taxpayers.
Full Budget speech of Finance Minister Nirmala Sitharaman
The new structure will substantially reduce taxes on the middle class and leave more money in their hands, boosting household consumption, savings, and investment, the government said.