Finance Minister Nirmala Sitharaman is scheduled to present the Interim Budget 2024 on February 1. It is speculated that as a pre-election gift, the Modi government may increase the income tax exemptions. It is speculated that as a pre-election gift, the Modi government may increase the income tax exemptions, which could benefit the middle class. It is believed that an increase in the income tax exemption limit would not only put more money in the hands of the middle-income group but benefit the economy. Under this, tax exemption is availed through investments in PPF, Sukanya Samriddhi Scheme, and life insurance.

Source: dna January 20, 2024 02:11 UTC