New income tax slabs, a good news for home loan EMIs?
The revised new income tax regime was the showstopper for this budget.
FM proposed changing the tax structure in the new regime by reducing the number of slabs to five and increasing the tax exemption limit to ₹3 lakh.
The new income tax slabs announced in the Budget 2023, are seen to give more money into the hands of salaried individuals which is likely to increase the demand for home buyers. Also, increasing the allocation in the PM Awas Yojana (PMAY) by 66% is another positive factor to drive home purchases. That said, these are likely to ease pressures on availing home loans and paying its EMIs.