What Indian Taxpayers Want From Modi 3.0’s First Budget | Firstpost Tech & Trade

What Indian Taxpayers Want From Modi 3.0’s First Budget | Firstpost Tech & Trade

India is eagerly anticipating its 2024 Budget, with over 93.7 million taxpayers hoping for tax cuts or incentives. The full-year Union Budget 2024-25 will be presented on July 23rd by Finance Minister Nirmala Sitharaman. This will be the first budget of the Modi-led government in their third term and the seventh Budget presented by FM Sitharaman. The new budget is expected to address various income tax expectations, including rationalising the twin tax regimes, standard deduction hikes, and changes in the basic income tax exemption limit. Additionally, there is a call for changes to capital gains tax and extending housing-related tax breaks. The middle class, in particular, looks forward to relief measures that could boost disposable income.

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