Finance minister Nirmala Sitharaman says that the new income tax bill will be introduced next week. She adds that the government will take forward 'trust first, scrutinise later' concept.Income Tax Budget 2025 LIVE: FM Nirmala Sitharaman says that the government will set up the Gyaan Bharat Mission for survey,

India plans to cut personal income tax rates to boost middle-class spending power, Finance Minister Nirmala Sitharaman said on Saturday, as she announced an annual budget that also sought to increase private investment to strengthen growth.

Moody's Ratings has indicated that the Indian government's recent tax relief measures for the middle class may not significantly boost economic growth. Despite the increased tax exemption limit to 1.28 million rupees per year and lower tax rates for higher incomes,