HomeCurrent affairsNew tax scheme made for the benefit of middle class

New tax scheme made for the benefit of middle class

Nirmala Sitharaman stated that it is not required to include everyone in invest in the government schemes provided by our country. She also mentioned that it should be an individual’s choice to do so. The finance minister of India mentioned that the latest tax regime is made to benefit the middle class. This scheme was made with the intention to help out the middle class and provide them with stability in terms of money. Under the new concessional tax scheme, no tax will be put upon any income up to three lakh Rupees. However, some tax will be applied to an income ranging from three lakh rupees to fifteen lakh rupees and the tax percentage will also increase in accordance with income.

Questions related to the Adani Group
The finance minister also cleared up some questions related to the Adani Group. She stated that, “Indian regulators are very, very experienced and they are experts in their domain. The regulators are seized of the matter and they are on their toes as always not just now.” She also pointed the fact that price inflation is in fact a real thing and that necessary steps should be taken towards this matter. The minister mentions about her belief in giving the middle-class man the opportunity to choose whether he wants to invest or not. She also points out that this tax scheme was made to benefit the middle class.

Nirmala Sitharaman also talks about regulating crypto assets and mentions that India is discussing this matter with other G20 countries. These countries are going to devise a full-proof plan for this issue.
Even the RBI Governer, Mr. Shaktikanta Das, talked about the issue regarding the rise of inflation is real. He explained that the retail inflation rate is expected to be around 5.3 percent in 2023-2024. Mr. Das also comments on the pricing of the loans. He states that the market competition will be deciding the lending and deposits as it is not a fixed topic. For more interesting headlines and daily news updates subscribe to STMN News.

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