A reduction or adjustment in income tax rates or slabs to alleviate the financial strain on the middle class, which is grappling with high inflation and stagnant wages, is widely anticipated in Finance Minister Nirmala Sitharaman’s historic eighth consecutive Budget.
The Budget for the upcoming fiscal year, starting on April 1, is expected to include measures aimed at supporting the economy, which is showing signs of weakening, while maintaining fiscal discipline. It will likely focus on initiatives to encourage consumption while adhering to the goal of reducing the fiscal deficit.
This budget, marking the first full-year budget of Prime Minister Narendra Modi’s third term, will be presented amid geopolitical uncertainties and a slowdown in economic growth to a four-year low. Additionally, with US President Donald Trump threatening tariffs on countries like India, the backdrop will be complex.
ALSO READ: Riding The AI Wave: Lack Of Governance Framework Opens Door To Potential Misuse
