Quote on Income Tax and Fiscal Deficit by Dr. Manoranjan Sharma, Chief Economist at Infomerics Ratings
Below the Quote on Income Tax and Fiscal Deficit by Dr. Manoranjan Sharma, Chief Economist at Infomerics Ratings
Income Tax: As visualized by us and strongly stressed on multiple channels and in various mediums, the middle class has been given a welcome relief with no Income Tax up to Rs.12 lakhs Income. For salaried persons, it will go up to Rs. 12. 75 lakhs by factoring in standard deduction. In view of the ravages of the inflationary spiral and the shrinking disposable income, this enhanced income tax limit will be welcome across the development spectrum.
Fiscal Deficit: Entirely in line with our expectations, the fiscal deficit number for FY 25 has come in at 4.8 % - below the budgeted level of 4.9 %- and for FY 26 at 4.4 %. This is greatly welcome for the domestic macroeconomy and will send the right message to global investors, multilateral institutions and the global rating agencies.
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