What does the Finance Minister take rest after work? Nirmala Sitharaman shared the secret in response
New Delhi. Finance Minister Nirmala Sitharaman said on Friday that after a busy day’s schedule, she listens to classical and Carnatic music and sleeps well. He said this in an exclusive interview with Rahul Joshi, Editor-in-Chief of Network18. Nirmala Sitharaman also appreciated the vision of Prime Minister Narendra Modi, who continues to promote the entire cabinet to work for the welfare of the country. He said that we are all fortunate that we have a Prime Minister who has a great vision for the country. We are able to do good work because of our PM and he helps us all.
When asked about the new tax regime and amendments in personal tax, the Finance Minister said that PM Narendra Modi always wanted to simplify the personal tax system. He believed that no bulky documents should be required. PM Modi was very clear that taxpayers should know exactly what they are paying and they should feel comfortable. He further expressed hope that around 50 per cent people would convert to the new system.
Balanced both development and fiscal management in the budget
Nirmala Sitharaman said the government has made the new income tax regime more attractive to taxpayers and brought ‘substantial changes’ in its structure for the benefit of the middle class. Changes in the alternative tax regime have been proposed in the budget 2023-24, which was introduced in 2020-21. Talking to reporters after presenting the budget, he had said that it is a budget in which both development and fiscal management have been balanced beautifully. Five major announcements have been made in the budget regarding personal income tax. In the new tax regime, the exemption limit has been increased to Rs 7 lakh, which means that people with income up to Rs 7 lakh in the new tax regime will not have to pay any income tax. The tax structure has been changed in the new personal income tax regime, under which the number of slabs has been reduced to 5 and the tax exemption limit has been increased to Rs 3 lakh. With this, all the taxpayers will get extensive relief in the new tax regime.
(With inputs from PTI)
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Tags: budget 2023, Finance Minister Nirmala Sitharaman, nirmala sitharaman news
FIRST PUBLISHED : February 03, 2023, 18:58 IST