Uttarakhand CM Praises Modi's Tax Relief for Middle Class

Chief Minister Pushkar Singh Dhami expresses gratitude towards Prime Minister Narendra Modi for the tax reform that exempts income up to Rs 12 lakh from taxation. This decision is celebrated for easing the financial burden on the middle class and stimulating economic growth across India.

Uttarakhand Chief Minister Pushkar Singh Dhami has extended his appreciation to the Union Government, under the leadership of Prime Minister Narendra Modi, for introducing a significant tax exemption policy in the Union Budget 2025-26. This policy stipulates that no income tax will be payable on earnings up to Rs 12 lakh, providing substantial relief for middle-class taxpayers.

The Chief Minister emphasized that this welfare measure would benefit the country's common citizens and the middle class. He acknowledged that the change would drive economic development and foster positive lifestyle changes. The new structure includes a Rs 12.75 lakh exemption for salaried taxpayers, factoring in a standard deduction of Rs 75,000. Union Finance Minister Nirmala Sitharaman highlighted the simplicity of the new tax regime, particularly its focus on aiding the middle class.

However, the exemption is contingent upon taxpayers utilizing reliefs under various sections of the income tax act, such as an Rs 1.5 lakh exemption under section 80CCC and interest on home loans. Sitharaman mentioned that taxpayers with incomes up to Rs 12 lakh, excluding special rate income like capital gains, would receive additional rebates. The Finance Minister's announcement of reformed income tax slabs and rates was met with strong approval from treasury benches, led by Prime Minister Modi. This new regime promises a more progressive taxation system and benefits at various income levels while maintaining government revenue stability.