Budget 2024: Major Highlights
Finance Minister Makes Key Announcements
New Tax Regime Gets a Boost
In a major relief to taxpayers, the Finance Minister has increased the standard deduction in the new tax regime from Rs 50,000 to Rs 75,000. This means that individuals earning up to Rs 75,000 per annum will not have to pay any income tax. The tax slabs have also been revised, with the highest marginal rate being reduced from 30% to 25%. This will benefit individuals in the higher income brackets.
Budget Live Updates
- Indian Railways allocated Rs 2.62 lakh crore for 2024-25.
- Delhi Police gets Rs 11,400 crore in Union Budget allocation, down by 6%.
- Finance Minister Nirmala Sitharaman presents the Modi government's Budget for 2024-25.
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