India's Budget 2025 Slashes Direct Taxes, Forgoing 1 Trillion Rupees in Revenue

In a bold move to stimulate economic growth, India's Finance Minister Nirmala Sitharaman announced sweeping changes to the direct tax structure in the Union Budget 2025. The government estimates that these tax cuts will result in a revenue loss of 1 trillion rupees. The new tax regime aims to boost disposable income for millions of taxpayers, potentially driving consumption and investment. This significant fiscal measure underscores the government's commitment to economic revival and middle-class welfare amidst global uncertainties.

Source: Union Budget 2025 speech by Finance Minister Nirmala Sitharaman