A Reuters report quoting sources showed that India is considering cutting income taxes for individuals earning up to 1.5 million rupees as part of its budget proposals for February 2024. Sources reveal that this move aims to provide relief to the middle class and stimulate consumption in response to the country’s slowing economy. The tax cuts would primarily impact city dwellers, who are facing high living costs, and could encourage more taxpayers to opt for the newer 2020 tax system.

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41 thoughts on “India Considers Income Tax Cuts To Boost Consumption | World Business Watch | WION News”
  1. Nirmala will remove old tax regime and which will mean people who are actually paying tax ( not the ones filling) will be looted further for promoting BJP, ladli behan, corruption, and bank NPA adjustment

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  3. पर ये होगा नहीं। ये खबर सिर्फ ताई को सोशल मीडिया के गुस्से से बचाने के लिए है।

  4. How does the new regime will benefit, you mentioned that they can’t exempt housing loan/insurance which means on your net income tax amount is calculated. The people will lose money & govt would earn money with new regime I can’t understand how does it benefits people?

  5. India should abolish income tax and levy only one tax. i.e. Goods and Service Tax on spendings. This way, the poor, the middle class and the rich will pay the same tax based on their purchase and consumption.

  6. Shame on wion for playing with income tax payers' expectation for few extra clicks.

    If you were really sincere , you would have critiqued this govts insensitivity towards income tax payers.

  7. Please stop giving false hopes. we have seen last 10 years of modi govt. this time of the year is your annual lie fest. we know you will either increase taxes directly or indirectly by hiding it under another 'stndardisation' process. stop thinking of us as fools.

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