New Delhi, Feb. 1 -- Reaffirming Government's commitment to the philosophy of "trust first, scrutinize later", the Union Budget 2025-26 has reposed faith in the Middle class and continued the trend of giving relief in tax burden to the common tax-payer. Presenting the Budget in the Parliament today, Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman proposed an across-the-board change in tax slabs and rates to benefit all tax-payers.

Giving the good news to tax payers, the Finance Minister stated, "There will be no income tax payable upto income of Rs. 12 lakh (i.e. average income of Rs.1 lakh per month other than special rate income such as capital gains) under the new regime. This limit will be Rs.12.75 lakh for salar...