💨 Abstract

India's annual budget has slashed personal tax rates to boost domestic demand amid global economic uncertainty. People earning up to 1.28 million Indian rupees per year will not pay taxes, and the government aims to reduce taxes on the middle class to boost consumption, savings, and investment. The move will result in a 1 trillion Indian rupee hit to Treasury revenues and has led to a rally in consumer stocks.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖