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Budget 2025: Tax Reduction Or Rationalisation? What Will FM Nirmala Sitharaman Opt for? Expert Take

The article discusses the potential directions Finance Minister Nirmala Sitharaman might take regarding tax policies in the upcoming Budget 2025. Experts suggest that while a significant tax reduction might not be on the cards due to fiscal constraints, there could be a focus on tax rationalization. This could involve simplifying the tax structure, possibly by reducing the number of tax slabs or adjusting tax rates to make them more progressive. There's also speculation about changes in the new tax regime introduced in 2020, which might be made more attractive to encourage more taxpayers to opt for it. Additionally, there might be adjustments in tax exemptions and deductions to balance revenue collection with taxpayer relief. The article highlights the government's challenge in managing fiscal deficit while promoting economic growth, suggesting that any tax changes would aim to strike a balance between these objectives.

Read the Full MSN Article at:
[ https://www.msn.com/en-in/money/other/budget-2025-tax-reduction-or-rationalisation-what-will-fm-nirmala-sitharaman-opt-for-expert-take/ar-AA1wUEWx ]