💨 Abstract

The Union Budget raising the income tax exemption limit to Rs 12 lakh is expected to boost demand for 2-wheelers and passenger vehicles in India, according to a report by Jefferies. The tax relief is estimated to provide the Indian middle class with a total tax benefit of approximately Rs 1 lakh crore, potentially increasing discretionary spending on automobiles.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖