India's Budget 2025: New Tax Regime Unveils 30% Maximum Rate for High Earners, Aiming for Economic Growth

India's Union Budget 2025 introduces a maximum tax rate of 30% for individuals earning ₹2.4 million and above under the new tax regime. This significant reform aims to simplify the tax structure and potentially boost disposable income for taxpayers. The budget also proposes an increase in the basic exemption limit, which could provide relief to middle-income groups. As the government focuses on enhancing economic growth, these changes are expected to stimulate consumer spending and demand across various sectors. 

 

Source: Hindustan Times.