Overall, the Budget focuses on providing significant benefits to the middle class by reducing the tax rates and thereby increasing the take home pay for individuals. It is clear that the Budget is aiming to further promote adoption of the new regime.

In a big bonanza for salaried taxpayers, Finance Minister Nirmala Sitharaman announced that there will be no income tax to be paid for income levels up to Rs 12 lakh. Income Tax Budget 2025 Live: What are the income tax slabs,