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In the Union Budget 2025, Finance Minister Nirmala Sitharaman announced significant tax relief, exempting one crore middle-income taxpayers from income tax.

Budget 2025: One crore middle-income taxpayers exempt from taxes

In the Union Budget 2025, Finance Minister Nirmala Sitharaman announced significant tax relief, exempting one crore middle-income taxpayers from income tax.

In the Union Budget 2025, Finance Minister Nirmala Sitharaman announced significant tax relief for middle-income taxpayers, stating that one crore people will be exempt from paying taxes.&nbsp; 
<blockquote class="twitter-tweet">
<a href="https://twitter.com/hashtag/WATCH?src=hash&amp;ref_src=twsrc%5Etfw">#WATCH</a> | Delhi: Union Finance Minister Nirmala Sitharaman says, "One crore more people will pay no tax. On the CAPEX, I think there are two things playing out. One, of course, this particular year has had the elections happening and because of that both central government and&hellip; <a href="https://t.co/xiW0YS3yhI">pic.twitter.com/xiW0YS3yhI</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/1885652193082270129?ref_src=twsrc%5Etfw">February 1, 2025</a></blockquote>
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Speaking at a post-Budget press conference, she confirmed, "One crore people will pay no tax," responding to a query about the number of taxpayers who would benefit from the new tax proposals.&nbsp; 
<blockquote class="twitter-tweet">
<a href="https://twitter.com/hashtag/WATCH?src=hash&amp;ref_src=twsrc%5Etfw">#WATCH</a> | Delhi: Union Finance Minister Nirmala Sitharaman says, "...One thing which I certainly would like to highlight is responding to the voice of the people, which is what Prime Minister Modi is known for in his administration. It's a very responsive government and as a&hellip; <a href="https://t.co/bk3ZPQeM6t">pic.twitter.com/bk3ZPQeM6t</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/1885639824394342591?ref_src=twsrc%5Etfw">February 1, 2025</a></blockquote>
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She also mentioned that the income tax simplification, which she had detailed in the July 2024 Budget, had already been completed, and the bill for this would be presented in Parliament next week.
As part of the new tax changes, Sitharaman revealed that individuals earning up to Rs 12 lakh annually will no longer have to pay income tax, significantly raising the exemption limit from Rs 7 lakh in the previous year.&nbsp;
For salaried taxpayers, the exemption limit will be Rs 12.75 lakh, which includes a standard deduction of Rs 75,000.&nbsp;
Finance Secretary Tuhin Kanta Pandey explained, "Now it being raised to Rs 12 lakh," highlighting the benefits to middle-income taxpayers. The income tax exemption has seen a steady increase over the years, with the limit rising from Rs 2.2 lakh in 2014 to Rs 5 lakh in 2019, and Rs 7 lakh in the recent past.
These changes are expected to result in the government forgoing about Rs 1 lakh crore in direct taxes and Rs 2,600 crore in indirect taxes.&nbsp;
However, the government anticipates that the saved money will be reinvested back into the economy through consumption, savings, or investments.&nbsp;
In addition, the Finance Minister reiterated that the government is working on a comprehensive review of the Income-tax Act, 1961, with the goal of making it more concise, lucid, and reducing disputes and litigation.

Indian cricket team captain Rohit Sharma discusses the future of players like Cheteshwar Pujara and Ajinkya Rahane in the longest format of the game.

Rohit Sharma on Rahane & Pujara's Test Return

Despite their recent absence from the team, Rohit suggested that there is still a chance for both players to make a return to the national squad.

After a thrilling draw in the third Test of the Border-Gavaskar Trophy at the Gabba in Brisbane, Indian cricket team captain Rohit Sharma discussed the future of players like Cheteshwar Pujara and Ajinkya Rahane in the longest format of the game. Despite their recent absence from the team, Rohit suggested that there is still a chance for both players to make a return to the national squad.
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<blockquote class="twitter-tweet" data-media-max-width="560">
The funnyman Sharma in press conference😂👌🏻 <a href="https://t.co/2ybRBU4tfs">pic.twitter.com/2ybRBU4tfs</a>
&mdash; 𝐑𝐮𝐬𝐡𝐢𝐢𝐢⁴⁵ (@rushiii_12) <a href="https://twitter.com/rushiii_12/status/1869314681208467456?ref_src=twsrc%5Etfw">December 18, 2024</a></blockquote>
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When asked about the Indian team without Pujara, Rahane, and Ravichandran Ashwin, Rohit had a brief slip of the tongue during the post-match press conference. "No, no, absolutely [I will miss them around]. Look, they have so much experience and have won so many matches for India. So, when you look around and they're not there... By the way, Ajinkya Rahane hasn't retired, aap mere ko marwaoge yar [you guys are going to get me in trouble]," Rohit remarked, laughing.
Rohit further clarified that the doors for Pujara and Rahane to return to the Test team are still open. "I&rsquo;m speaking as if all three have retired [chuckles]. Pujara hasn&rsquo;t announced his retirement. You mentioned all their names together, so I said that. They're not here right now, but I don&rsquo;t know, they can still come back, the door is open for them," he added.
Pujara and Rahane have been integral to India&rsquo;s middle order for over a decade. Pujara has played 103 Tests, accumulating 7,195 runs at an average of 43.60, with 19 centuries and 35 fifties. His highest score is 206*. Rahane, meanwhile, has featured in 85 Tests, scoring 5,077 runs at an average of 38.46, with 12 centuries and 26 fifties. His best score is 188.
However, both players&rsquo; performances have dipped significantly since India&rsquo;s historic victory at The Gabba in January 2021, which was pivotal to their series win in Australia. Since that iconic triumph, Pujara has played 22 more Tests, managing only 1,084 runs at a below-par average of 29.29, with just one century and seven fifties. Rahane's form has been similarly underwhelming, scoring only 606 runs in his last 16 Tests at an average of 22.44, with four half-centuries.
Despite his recent struggles in Tests, Rahane had a standout performance in IPL 2023 with Chennai Super Kings, scoring 326 runs in 11 innings at an impressive average of 32.60 and a strike rate of 172.48. His strong IPL form could potentially keep him in the mix longer than Pujara, who hasn&rsquo;t played in the IPL since 2014.
Pujara, however, has an exceptional first-class record, having scored 19,812 runs in 258 matches at an average of 52.00, including 61 centuries and 77 half-centuries, with a highest score of 352. His impressive domestic form keeps him in the conversation for a Test return, should the opportunity arise.

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