Govt May Cut Income Tax In Budget 2025, Those Earning Up To Rs 15 Lakh A Year May Benefit: Reports

In order to provide relief to the middle class, the central government is likely to cut income tax for individuals earning up to Rs 15 lakh per annum in the upcoming Budget 2025-26, according to a Reuters report citing two government sources. The move will be aimed to boost consumption in the economy amid slowing growth.

“The sources, who did not want to be named because they were not authorised to talk to the media, said they had not decided on the size of any cuts. A decision would be taken closer to the budget on February 1," according to Reuters citing the sources.

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