#Budget2025 : BJP Targets Delhi, Bihar Polls, Woos Middle Class , Sitharaman Announces No Income Tax Payable On Income Up To Rs 12 lakh

Picture : ANI / X

In a big boost to the Indian middle class and eyeing the Delhi Polls on February 5 and Bihar later on this year , Finance Minister Nirmala Sitharaman announced that there will be no income tax payable for incomes up to Rs 12 lakh, and Rs 12.75 lakh for salaried taxpayers (including standard deduction).

In the new tax regime, the revised tax rate structure is Rs 0-4 lakh (zero tax), Rs 4-8 lakh (5 per cent), Rs 8-12 lakh (10 per cent), Rs 12-16 lakh (15 per cent), Rs 16-20 lakh (20 per cent), Rs 20-24 lakh (25 per cent), and above Rs 24 lakh (30 per cent).

“The new tax structure would substantially reduce tax for the middle class,” announced FM Sitharaman.

Presenting the Union Budget 2025-26, FM Sitharaman said that the tax deduction at source (TDS) rates will be rationalised and the limit for tax deduction for senior citizens will be doubled to Rs 1 lakh.

AS per PTI, , The Ministry of Tourism has been earmarked a significant increase in its Budget allocation for the 2025-2026 fiscal, with a focus on enhancing tourism infrastructure, promoting domestic and international travel, and ensuring the safety of tourists, particularly women.

The total Budget allocation for the ministry for 2025-2026 stands at Rs 2,541.06 crore, marking a substantial increase from the revised estimate of Rs 850.36 crores in 2024-2025.

Presenting her eighth straight Union Budget, Sitharaman said the government will promote homestays by extending Mudra loans, and improve connectivity to tourist spots to enhance accessibility.