Budget 2023: Sitharaman May Provide Tax Relief to Boost Consumption

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Key Points

• Finance Minister Nirmala Sitharaman is considering tax relief measures in the upcoming Union Budget.
• The move is aimed at boosting consumption and stimulating economic growth.
• The budget will be presented in Parliament on February 1, 2023.

New Delhi, January 12, 2023: Finance Minister Nirmala Sitharaman is reportedly considering providing tax relief to common people in the upcoming Union Budget. The move is part of the government's efforts to boost consumption and stimulate economic growth.

Sources within the Finance Ministry have indicated that the tax relief measures could include an increase in the income tax exemption limit, a reduction in tax rates, and additional deductions for certain expenses. These measures are expected to provide relief to taxpayers and increase their disposable income, which could lead to increased spending and economic activity.

The Union Budget for the financial year 2023-24 will be presented in Parliament on February 1, 2023. The budget is widely anticipated to focus on economic revival and job creation in the post-COVID-19 pandemic era.