PM Modi Heard Taxpayers' Voice, Supported Income Tax Cut: Nirmala Sitharaman
Finance Minister Nirmala Sitharaman has revealed that Prime Minister Narendra Modi played a key role in advocating for income tax cuts, ensuring relief for millions of taxpayers in Budget 2025. Addressing the media post-budget, Sitharaman emphasized that the government is committed to easing the tax burden* on middle-class citizens and stimulating economic growth.
PM Modi's Push for Tax Relief
- Sitharaman stated that PM Modi actively listened to taxpayers' concerns and supported lowering income tax slabs to boost disposable income.
- The move aims to *enhance consumption, drive savings, and strengthen economic momentum*.
- Modi’s vision aligns with the government’s broader strategy to ensure taxpayer-friendly reforms and ease of compliance.
Key Highlights of Income Tax Reforms in Budget 2025
1. Tax Slab Adjustments – Increased exemption limits and tax benefits for salaried individuals.
2. Deductions & Rebates – Expanded scope of deductions under Section 80C, 80D, and HRA to promote savings.
3. Simplification of Tax Filing – Streamlined compliance procedures for faster and hassle-free returns.
4. Boost for the Middle Class – The tax cuts directly benefit middle-income groups, increasing their purchasing power.
Impact on the Economy
-Higher disposable income will drive consumption, benefiting sectors like real estate, automobiles, and retail.
- Encouraging investments and savings, leading to greater financial stability among households.
- A push towards a simpler, taxpayer-friendly regime, aligning with the government's long-term economic vision.
Conclusion
PM Modi’s intervention in supporting tax cuts highlights his commitment to taxpayer welfare and economic growth. With pro-business and middle-class-friendly policies, Budget 2025 reinforces India’s trajectory toward financial empowerment and inclusive prosperity.
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