When Prime Minister Narendra Modi on Friday sought “special blessings” of Goddess Laxmi for the “middle class”, he had raised hopes of income tax relief in Union Budget 2025. And on Saturday, Finance Minister Nirmala Sitharaman didn't disappoint.Unveiling the budget proposals, Sitharaman significantly rejigged the tax slabs and raised tax rebates available to individuals in lower income groups so that income tax payers could benefit up to ₹110,000 annually if they opt for the new tax regime.
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