Budget 2025: Government May Reduce Income Tax For Those Earning Up To ₹15 Lakhs To Boost Consumption

High income tax is one thing that has been pinching India's middle class, especially over the last few months since the cost of living and inflation has been high. Now, as per what government sources told news agency Reuters, India is considering reducing income taxes for those earning up to ₹15 lakh in the upcoming budget in February. This is an attempt to provide relief to the middle class and specially to stimulate consumption amid an economic slowdown, as per the reports.