As expected, Modi’s administration gave some relief to taxpayers. Individuals with income up to 700,000 rupees won’t have to pay tax under the new income tax regime. The number of tax slabs were reduced, while the maximum tax rate was cut to 39%. This will leave more money with the middle class that can also boost consumption demand.

from Times of India https://timesofindia.indiatimes.com/business/budget/winners-and-losers-from-union-budget-2023/articleshow/97524372.cms