While presenting the budget for the year, Finance Minister Nirmala Sitharaman gave a big relief to the middle-class employed people. Now individuals earning up to Rs 12 lakh annually will not have to pay any tax.

In an interview to Mint and HT, FM Nirmala Sitharaman explained the philosophy behind the new Income Tax bill, what the government is doing to ensure regulators don’t operate in silos, how the government is trying to diversify export markets and the plan to reach 8% GDP growth.

Finance Minister Nirmala Sitharaman said that the the tax proposal will allow people to have more money in their hands.

Finance Minister Nirmala Sitharaman revealed that while Prime Minister Narendra Modi was fully supportive of the idea to cut taxes in the Union Budget 2025, it took time to convince the bureaucrats.

In her eighth budget, Nirmala Sitharaman strikes a delicate balance between stimulating growth and staying true to fiscal consolidation, aiming for a sustainable economic future amid global uncertainty.

LIVE: Amid high hopes of income tax reliefs, finance minister Nirmala Sitharaman said while presenting Union Budget 2025 that she will “introduce the new income tax bill next week.”