{"id":1282623,"date":"2024-06-19T13:42:15","date_gmt":"2024-06-19T08:12:15","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1282623"},"modified":"2024-06-19T13:49:31","modified_gmt":"2024-06-19T08:19:31","slug":"income-tax-cuts-for-those-earning-more-than-rs-15-lakh-can-be-introduced-by-govt","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/income-tax-cuts-for-those-earning-more-than-rs-15-lakh-can-be-introduced-by-govt\/","title":{"rendered":"Income Tax Cuts For Those Earning More Than Rs 15 Lakh Can Be Introduced By Govt"},"content":{"rendered":"\n

The National Democratic Alliance (NDA) government, led by Prime Minister Narendra Modi, is considering<\/a> lowering income tax rates for certain categories of individuals to boost consumption. The new income tax rates could be announced in July when Finance Minister Nirmala Sitharaman presents the full Union Budget for the fiscal year 2025<\/a><\/a><\/a><\/a><\/a>.<\/p>\n\n\n\n

\"Income<\/figure>\n\n\n\n

Rationalizing Tax Slabs<\/h2>\n\n\n\n

The income tax rate rises sixfold when an individual’s income surges by five times from \u20b93 lakh to \u20b915 lakh, which is considered steep. The government is looking at rationalizing tax slabs to enhance disposable income and stimulate consumption. This could lead to increased GST collections and a boost in the economy.<\/p>\n\n\n\n

Prioritizing Consumption<\/h2>\n\n\n\n

The government is prioritizing consumption over welfare spending to enhance disposable income. Tax cuts for low-income earners are seen as a better way to increase consumption and economic activity. This move could also help in reviving demand and restarting the investment cycle, particularly in consumer-driven sectors<\/a><\/a><\/a>.<\/p>\n\n\n\n

Key Objectives<\/h2>\n\n\n\n

The Modi 3.0 government aims to position India as a USD 5-trillion economy and transform it into a ‘Developed India’ by 2047. The key objectives include addressing agricultural challenges, job creation, sustaining capital expenditure, and enhancing revenue growth to maintain fiscal consolidation<\/a><\/a><\/a>.<\/p>\n\n\n\n

<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The National Democratic Alliance (NDA) government, led by Prime Minister Narendra Modi, is considering lowering income tax rates for certain categories of individuals to boost consumption. The new income tax rates could be announced in July when Finance Minister Nirmala Sitharaman presents the full Union Budget for the fiscal year 2025. Rationalizing Tax Slabs The […]<\/p>\n","protected":false},"author":30,"featured_media":1282628,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[192,5506],"class_list":["post-1282623","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-income-tax","tag-modi-govt"],"acf":[],"yoast_head":"\nIncome Tax Cuts For Those Earning More Than Rs 15 Lakh Can Be Introduced By Govt - Trak.in - Indian Business of Tech, Mobile & Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/income-tax-cuts-for-those-earning-more-than-rs-15-lakh-can-be-introduced-by-govt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Income Tax Cuts For Those Earning More Than Rs 15 Lakh Can Be Introduced By Govt - Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"og:description\" content=\"The National Democratic Alliance (NDA) government, led by Prime Minister Narendra Modi, is considering lowering income tax rates for certain categories of individuals to boost consumption. The new income tax rates could be announced in July when Finance Minister Nirmala Sitharaman presents the full Union Budget for the fiscal year 2025. Rationalizing Tax Slabs The […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/trak.in\/stories\/income-tax-cuts-for-those-earning-more-than-rs-15-lakh-can-be-introduced-by-govt\/\" \/>\n<meta property=\"og:site_name\" content=\"Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-19T08:12:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-19T08:19:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/06\/Online-Internet-tax-Taxation.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"485\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Mohul Ghosh\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mohul Ghosh\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/trak.in\/stories\/income-tax-cuts-for-those-earning-more-than-rs-15-lakh-can-be-introduced-by-govt\/\",\"url\":\"https:\/\/trak.in\/stories\/income-tax-cuts-for-those-earning-more-than-rs-15-lakh-can-be-introduced-by-govt\/\",\"name\":\"Income Tax Cuts For Those Earning More Than Rs 15 Lakh Can Be Introduced By Govt - Trak.in - Indian Business of Tech, Mobile & Startups\",\"isPartOf\":{\"@id\":\"https:\/\/trak.in\/stories\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/trak.in\/stories\/income-tax-cuts-for-those-earning-more-than-rs-15-lakh-can-be-introduced-by-govt\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/trak.in\/stories\/income-tax-cuts-for-those-earning-more-than-rs-15-lakh-can-be-introduced-by-govt\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/06\/Online-Internet-tax-Taxation.jpg\",\"datePublished\":\"2024-06-19T08:12:15+00:00\",\"dateModified\":\"2024-06-19T08:19:31+00:00\",\"author\":{\"@id\":\"https:\/\/trak.in\/stories\/#\/schema\/person\/5092a7d2906e3f3c819643435477c2a7\"},\"breadcrumb\":{\"@id\":\"https:\/\/trak.in\/stories\/income-tax-cuts-for-those-earning-more-than-rs-15-lakh-can-be-introduced-by-govt\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/trak.in\/stories\/income-tax-cuts-for-those-earning-more-than-rs-15-lakh-can-be-introduced-by-govt\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/trak.in\/stories\/income-tax-cuts-for-those-earning-more-than-rs-15-lakh-can-be-introduced-by-govt\/#primaryimage\",\"url\":\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/06\/Online-Internet-tax-Taxation.jpg\",\"contentUrl\":\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/06\/Online-Internet-tax-Taxation.jpg\",\"width\":1000,\"height\":485},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/trak.in\/stories\/income-tax-cuts-for-those-earning-more-than-rs-15-lakh-can-be-introduced-by-govt\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/trak.in\/stories\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Income Tax Cuts For Those Earning More Than Rs 15 Lakh Can Be Introduced By Govt\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/trak.in\/stories\/#website\",\"url\":\"https:\/\/trak.in\/stories\/\",\"name\":\"Trak.in - Indian Business of Tech, Mobile & Startups\",\"description\":\"Trak.in is a popular Indian Business, Technology, Mobile & Startup blog featuring trending News, views and analytical take on Technology, Business, Finance, Telecom, Mobile, startups & Social Media Space\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/trak.in\/stories\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/trak.in\/stories\/#\/schema\/person\/5092a7d2906e3f3c819643435477c2a7\",\"name\":\"Mohul Ghosh\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/trak.in\/stories\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/66c129d83dd3f325a3b550eb1aa16891173ddfc4686361424206cd9a01311c89?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/66c129d83dd3f325a3b550eb1aa16891173ddfc4686361424206cd9a01311c89?s=96&d=mm&r=g\",\"caption\":\"Mohul Ghosh\"},\"url\":\"https:\/\/trak.in\/stories\/author\/mohul-ghosh\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Income Tax Cuts For Those Earning More Than Rs 15 Lakh Can Be Introduced By Govt - Trak.in - Indian Business of Tech, Mobile & Startups","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/trak.in\/stories\/income-tax-cuts-for-those-earning-more-than-rs-15-lakh-can-be-introduced-by-govt\/","og_locale":"en_US","og_type":"article","og_title":"Income Tax Cuts For Those Earning More Than Rs 15 Lakh Can Be Introduced By Govt - Trak.in - Indian Business of Tech, Mobile & Startups","og_description":"The National Democratic Alliance (NDA) government, led by Prime Minister Narendra Modi, is considering lowering income tax rates for certain categories of individuals to boost consumption. The new income tax rates could be announced in July when Finance Minister Nirmala Sitharaman presents the full Union Budget for the fiscal year 2025. Rationalizing Tax Slabs The […]","og_url":"https:\/\/trak.in\/stories\/income-tax-cuts-for-those-earning-more-than-rs-15-lakh-can-be-introduced-by-govt\/","og_site_name":"Trak.in - Indian Business of Tech, Mobile & Startups","article_published_time":"2024-06-19T08:12:15+00:00","article_modified_time":"2024-06-19T08:19:31+00:00","og_image":[{"width":1000,"height":485,"url":"https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/06\/Online-Internet-tax-Taxation.jpg","type":"image\/jpeg"}],"author":"Mohul Ghosh","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Mohul Ghosh","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/trak.in\/stories\/income-tax-cuts-for-those-earning-more-than-rs-15-lakh-can-be-introduced-by-govt\/","url":"https:\/\/trak.in\/stories\/income-tax-cuts-for-those-earning-more-than-rs-15-lakh-can-be-introduced-by-govt\/","name":"Income Tax Cuts For Those Earning More Than Rs 15 Lakh Can Be Introduced By Govt - Trak.in - Indian Business of Tech, Mobile & Startups","isPartOf":{"@id":"https:\/\/trak.in\/stories\/#website"},"primaryImageOfPage":{"@id":"https:\/\/trak.in\/stories\/income-tax-cuts-for-those-earning-more-than-rs-15-lakh-can-be-introduced-by-govt\/#primaryimage"},"image":{"@id":"https:\/\/trak.in\/stories\/income-tax-cuts-for-those-earning-more-than-rs-15-lakh-can-be-introduced-by-govt\/#primaryimage"},"thumbnailUrl":"https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/06\/Online-Internet-tax-Taxation.jpg","datePublished":"2024-06-19T08:12:15+00:00","dateModified":"2024-06-19T08:19:31+00:00","author":{"@id":"https:\/\/trak.in\/stories\/#\/schema\/person\/5092a7d2906e3f3c819643435477c2a7"},"breadcrumb":{"@id":"https:\/\/trak.in\/stories\/income-tax-cuts-for-those-earning-more-than-rs-15-lakh-can-be-introduced-by-govt\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/trak.in\/stories\/income-tax-cuts-for-those-earning-more-than-rs-15-lakh-can-be-introduced-by-govt\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/trak.in\/stories\/income-tax-cuts-for-those-earning-more-than-rs-15-lakh-can-be-introduced-by-govt\/#primaryimage","url":"https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/06\/Online-Internet-tax-Taxation.jpg","contentUrl":"https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/06\/Online-Internet-tax-Taxation.jpg","width":1000,"height":485},{"@type":"BreadcrumbList","@id":"https:\/\/trak.in\/stories\/income-tax-cuts-for-those-earning-more-than-rs-15-lakh-can-be-introduced-by-govt\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/trak.in\/stories\/"},{"@type":"ListItem","position":2,"name":"Income Tax Cuts For Those Earning More Than Rs 15 Lakh Can Be Introduced By Govt"}]},{"@type":"WebSite","@id":"https:\/\/trak.in\/stories\/#website","url":"https:\/\/trak.in\/stories\/","name":"Trak.in - Indian Business of Tech, Mobile & Startups","description":"Trak.in is a popular Indian Business, Technology, Mobile & Startup blog featuring trending News, views and analytical take on Technology, Business, Finance, Telecom, Mobile, startups & Social Media Space","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/trak.in\/stories\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/trak.in\/stories\/#\/schema\/person\/5092a7d2906e3f3c819643435477c2a7","name":"Mohul Ghosh","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/trak.in\/stories\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/66c129d83dd3f325a3b550eb1aa16891173ddfc4686361424206cd9a01311c89?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/66c129d83dd3f325a3b550eb1aa16891173ddfc4686361424206cd9a01311c89?s=96&d=mm&r=g","caption":"Mohul Ghosh"},"url":"https:\/\/trak.in\/stories\/author\/mohul-ghosh\/"}]}},"jetpack_featured_media_url":"https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/06\/Online-Internet-tax-Taxation.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/posts\/1282623","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/comments?post=1282623"}],"version-history":[{"count":2,"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/posts\/1282623\/revisions"}],"predecessor-version":[{"id":1282630,"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/posts\/1282623\/revisions\/1282630"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/media\/1282628"}],"wp:attachment":[{"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/media?parent=1282623"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/categories?post=1282623"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/tags?post=1282623"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}