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Budget 2023-34: Change in income tax slab unlikely, hints Finance Minister Nirmala Sitharaman

Budget 2023-34: Change in income tax slab unlikely, hints Finance Minister Nirmala Sitharaman

Union Finance Minister, Nirmala Sitharaman speaking at a function organised by the Panchjanya, a weekly magazine published by Rashtriya Swayamsevak Sangh (RSS), said she belongs to a middle class family and she identifies herself as middle class and added that the current government has not imposed any new taxes on the middle class and for those earning income of upto Rs 5 lakh, income tax is exempted.

To provide seamless transportation for the migrant middle class who frequent the cities for job opportunities, the Union Finance Minister said, the government has taken various measures like developing the metro rail network in 27 cities and building 100 smart cities to promote ease of living.

She further said, in each budget session since 2020, the government has been increasing the outlay on the capital expenditure and pointed out that the capital expenditure has been increased by 35 per cent to Rs.7.5 lakh crore in the current financial year.

 




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