Budget 2025: Raise income tax exempt limit to Rs 10 lakh – RSS Unions tell FM Sitharaman Finance Minister Nirmala Sitharaman will present the Union Budget 2025 in February. RSS-affiliated organisations have proposed raising the tax-exempt income threshold to Rs 10 lakh, extending MGNREGA.
Budget 2025: A Call for Change in Income Tax Exemption Limits
As the Union Budget 2025 approaches, scheduled for presentation by Finance Minister Nirmala Sitharaman in February, the anticipation is palpable among citizens and economists alike. A significant proposal has emerged from RSS-affiliated organizations urging the government to raise the income tax exemption limit to Rs 10 lakh. This move, they argue, could provide much-needed relief to taxpayers and stimulate economic growth.
Rationale Behind the Proposal
The current income tax exemption limit stands at Rs 2.5 lakh for individuals below 60 years of age, with increased thresholds for senior citizens. By raising the cap to Rs 10 lakh, the RSS unions aim to ease the financial burden on the middle class and encourage spending. This could lead to a boost in consumption, which is vital for a recovering economy.
Extension of MGNREGA
In addition to the tax proposal, the RSS unions have suggested extending the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA). This program has been instrumental in providing employment and improving rural livelihoods. Expanding its reach could further enhance the economic stability of millions of families across India.
What This Means for You
For the average taxpayer, an increase in the tax-exempt limit could mean more disposable income in hand, allowing for better financial planning and savings. With platforms like Looffers.com, users can maximize their savings through exclusive deals and discounts, ensuring that every rupee counts!
Conclusion
The proposals from RSS unions reflect a growing sentiment among citizens for financial relief and support. As we await the Union Budget 2025, it remains to be seen how the government will respond to these recommendations. One thing is clear: the focus on taxpayer welfare is essential for the nation’s economic resurgence.
Stay tuned for more updates and insights on the upcoming budget and how you can make the most of your finances with Looffers.com!
