Budget 2024-25: FM proposes Revision to Income Tax Slabs in New Regime

In the 2024-25 Union Budget, Finance Minister Nirmala Sitharaman proposed significant changes to the income tax slabs under the new tax regime. Key adjustments include raising the tax exemption limit from ₹3 lakh to ₹5 lakh, and revising the tax slabs to reduce the tax burden on middle-income earners. The proposal aims to provide a more progressive tax system and boost disposable income for individuals. The new regime offers more tax relief and simplifies tax calculations by adjusting the tax brackets and rates. The move is intended to enhance economic growth and support household financial stability.