Budget 2024: Find Out Who Benefits & How Much Relief Provided By Revised Income Tax Slab | Nirmala Sitharaman

Finance Minister Nirmala Sitharaman presented the national budget on Tuesday. This budget, coming after the Modi government secured a third consecutive term, had high expectations from all sectors. The budget aims to benefit the poor, middle class, and wealthy alike. Significant relief for millions of new tax regime taxpayers comes in the form of an increased standard deduction. However, there is some disappointment due to increased short-term and long-term capital gains taxes and the removal of indexation benefits.

Salaried individuals and pensioners will benefit from the changes. Key relief measures include incentives for companies providing staff training, reduced corporate tax for foreign firms, increased loans for higher education, and doubled Mudra loans for small businesses. The budget also introduced various other beneficial decisions, including financial support for states, cheaper cancer drugs, mobile phones, chargers, and precious metals like gold and silver, as well as the removal of the angel tax to support startups.