NOB- Bharat news: The NDA government at the center has given the biggest gift to the middle class during its rule. It has decided in the budget to exempt income tax up to twelve lakh rupees at once. This applies to those who opt for the new income tax system. Till now, there was an exemption of up to seven and a half lakhs. Now, by doing it at twelve lakh rupees at once, the middle class will benefit a lot. According to the government’s decision, those earning Rs. 1 lakh per month do not need to pay income tax. Till now, those earning seven to eight lakhs per year, that is, sixty thousand per month, will have to pay three to four thousand as taxes per month, no matter how much savings they make. The old income tax system will also continue. Some relief has been given in this too. Zero tax will be imposed on income up to four lakh rupees. After that, five percent tax will be imposed on income up to eight lakhs. After that, ten percent tax will be imposed on income up to twelve lakhs. Fifteen percent tax has been imposed up to sixteen lakh rupees, and twenty-five percent tax has been imposed up to twenty lakh rupees. Thirty percent tax will be imposed on those with income exceeding half a lakh rupees. In the new system, there will be an exemption up to twelve lakhs without making any savings. After that, tax will be levied up to twenty percent according to the slabs. It seems that this huge exemption has been given in an attempt to convert everyone to the new tax system. Overall, this time, this budget will benefit many people from the middle class.

Union Budget, Sector-wise Allocations

▪️Defense Rs.4,91,732 crore

▪️Rural Development Rs.2,66,817 crore

▪️Home Ministry Rs.2,33,211 crore

▪️Agriculture and allied sectors Rs.1,71,437 crore

▪️Education Rs.1,28,650 crore

▪️Health Rs.98,311 crore

▪️Urban Development Rs.96,777 crore

▪️IT and Telecom Rs.95,298 crore

▪️Power Rs.81,174 crore

▪️Commerce and Industries Rs.65,553 crore.

▪️Social Welfare Rs.60,052 crore.