Key Points
Finance Minister Nirmala Sitharaman is likely to step up efforts to boost consumption and rural economy while keeping inflation under check when she presents her sixth straight Budget on February 1...
Experts said one way to boost consumption is to put more money in the hands of people, and one of the possible ways of doing it is by reducing the tax burden through tinkering with tax slabs or increasing the standard deduction...
Women and marginalised communities may get additional sops as part of Sitharamans effort to boost consumption ahead of the General Election, experts said.. Usually, interim Budgets, which are presented in the Lok Sabha ahead of the General Elections, do not contain fresh tax proposals or new schemes...
India Ratings & Research Chief Economist Devendra Kumar Pant said the main purpose of a vote-on-account is to allow the government to spend money on salaries, wages, interest payments, and debt services for four months of the next fiscal...
The government anyway wants more and more people to migrate to the new tax regime, which has a lower rate but with fewer exemptions, from the old tax regime in which a taxpayer can claim of host of deductions for specified expenses like home loans, childrens education, PPF contribution, and insurance premium...
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