New Tax Regime To Benefit Middle Class, Says Finance Minister

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Our Finance Minister Nirmala Sitharaman today said the new tax regime will benefit the middle class

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Under the revamped concessional tax regime, which will be effective from the next fiscal

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Here No tax would be levied on income up to ₹ 3 lakh

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But Income between ₹ 3-6 lakh would be taxed at 5 per cent

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₹ 6-9 lakh at 10 per cent, ₹ 9-12 lakh at 15 per cent, ₹ 12-15 lakh at 20 per cent

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She said, "Indian regulators are very, experienced and they are experts in their domain

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Nirmala Sitaram said India is in discussion with G20 nations for designing a common framework

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On pricing of loans, Mr Das said market competition will decide rates on lending and deposit sides as it has been a deregulated segment

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