New Delhi, Feb. 3 -- The finance ministry expects Rs.40,000-45,000 crore to flow into banks as deposits from the various tax changes announced in the Budget, including raising the tax-free income level to Rs.12 lakh, financial services secretary M Nagaraju said during a media interaction on various Budget proposals on Monday.

Union Budget 2025, which finance minister Nirmala Sitharaman presented on Saturday, proposed an increase in the income tax exemption limit to Rs.12 lakh. It also proposed an increase in the tax deducted at source (TDS) threshold on interest earned from fixed deposits for general (non-senior) citizens from Rs.40,000 to Rs.50,000 per financial year. The TDS threshold for fixed-deposit interest income earned by senior ...