• Feedback
  • RSS Feed
  • Sitemap
Ommcom News
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
Odisha News, Odisha Breaking News, Odisha Latest News || Ommcom News
Home Business

Tax Concessions Will Accelerate Both Spending And Savings: Economists

OMMCOM NEWS by OMMCOM NEWS
February 1, 2025
in Business

Kolkata: Union Finance Minister Nirmala Sitharaman’s proposal to raise the minimum tax slab to Rs 12 lakh from Rs 7 lakh in the new regime in addition to Rs 75,000 of the standard deduction for salaried taxpayers will boost both expenditure and savings among the middle-class section of the Indian population, feel economists.

Former chief economic advisor to the Union government, Ashok Kumar Lahiri, told IANS, that the proposal will have more surplus money in the hands of the middle-class taxpayers which will prompt them to spend more which again will boost market demand and benefit the overall economy of the country.

“At the same time, it will be wrong to think that the money will only boost expenditure and discourage savings. Rather, this proposal will also give scope for the middle-class taxpayers to save more besides spending more. To sum up, the proposal will accelerate spending and savings simultaneously,” said Lahiri, currently a BJP legislator in the West Bengal Assembly.

Economist Probir Kumar Mukhopadhyay feels that the new tax proposal has rightly focussed on demand generation after focussing on the supply side so far. “The focus on the supply side can never be effective unless there is an equal focus on the demand side. It is true that what percentage of the excess money in hand will be spent and how much will be saved will depend on the choice of the individual taxpayers. But generally, the tendency of the middle-class taxpayers is reflected in maintaining a balanced expenditure to savings ratio,” Mukhopadhyay said.

Economists also feel that equally welcome proposals were the rationalisation of tax deductions at source (TDS) for senior citizens which was doubled from Rs 50,000 to Rs 1,00,000. According to them, since the senior citizens are heavily dependent on income from interest, the decision will surely bring cheer for them. “In a sense, this budget after a long time is truly middle-class friendly,” said Mukhopadhyay.

(IANS)

Tags: economistsUnion Finance Minister Nirmala Sitharaman
ShareTweetSendSharePinShareSend
Previous Post

Odisha Vigilance Nabs Sukinda Police SI For Bribery

Next Post

India Bets Big On AI, Allocates Rs 500 Crore For 3 Centres Of Excellence

Related Posts

Business

Lokpal Gives Clean Chit To Former SEBI Chief Madhabi Puri Buch In Hindenburg Allegations Case

May 28, 2025
Business

Radico Khaitan Withdraws ‘Trikal’ Whisky; Stock May See Pressure

May 28, 2025
Business

India’s Growth More Stable In FY26 And FY27 As China Falters: EY Report

May 28, 2025
Business

India’s Industrial Production Registers 2.7 Per Cent Growth In April

May 28, 2025
Business

N Chandrasekaran Step Downs As Tata Chemicals Chairman

May 28, 2025
Indian stock market
Business

Indian Stock Market Ends Lower, FMCG Stocks Drag

May 28, 2025
Next Post

India Bets Big On AI, Allocates Rs 500 Crore For 3 Centres Of Excellence

Ranji Trophy

Ranji Trophy: Shivam Picks Five As Delhi Thrash Railways By An Innings And 19 Runs

Virat Kohli

Ranji Trophy: Those Three Intruders Requested Virat That They Should Not Be Beaten Up, Says Shivam

Khimji
  • Feedback
  • RSS Feed
  • Sitemap

© 2025 - Ommcom News. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ

© 2025 - Ommcom News. All Rights Reserved.