“The rebate on income has gradually increased from ₹2.5 lakh to ₹5 lakh per annum. Now, the government has decided that if someone earns ₹1 lakh per month, they will receive a tax rebate. This gradual approach ensures that people receive benefits. We expect that the money saved by taxpayers will contribute to enhancing the Indian economy—however citizens choose to spend it. An income tax of ₹1 lakh in 2014 is now zero, which means people have more money in their hands,” Sitharaman said during her post-Budget press conference.
Sitharaman also reiterated that Budget 2025 includes several measures aligned with India’s path towards Viksit Bharat (Developed India).
She emphasized that the Budget places a special focus on rural prosperity as well as urban workers.
Additionally, she highlighted that the Budget identifies six key sectors for development.
“It continues to lay emphasis on reforms,” she added.