Wed, Mar 04, 2026 | Updated 05:14 IST
Feb 01, 2025
The Union Budget 2024-25, presented by Union Finance Minister Nirmala Sitharaman in Parliament on Saturday, provided major relief to the salaried class with no income tax on an average monthly income of up to Rs one lakh to boost household savings and consumption with the government also giving thrust to four engines of development - agriculture, MSMEs, investment and exports.
She said while the exemption applies up to Rs 12 lakh, the rates across income bands have been reduced, ensuring lower taxes for all.
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