In a massive relief to the middle class, union finance minister Nirmala Sitharaman on Saturday announced an increased income tax exemption for income up to ₹12 lakh per annum. This means that people who earn under ₹12 lakh per annum will not have to pay any taxes.

Union finance minister Nirmala Sitharaman has announced a slew of benefits for senior citizens who depend on interest income after retirement in the Union Budget 2025-26.

Finance Minister Nirmala Sitharaman reveals income tax cuts for the middle class, raising exemption thresholds and benefiting millions of taxpayers.