Zero Income Tax Initiative: A Boost for Middle Class Economy

Odisha Chief Minister Mohan Charan Majhi praised the Union Budget 2025-26 for its 'zero income tax' policy benefiting citizens earning up to Rs 12 lakh annually. This move, announced by Finance Minister Nirmala Sitharaman, is expected to empower citizens and drive economic growth by easing the tax burden on the middle class.

The Union Budget 2025-26 has introduced a groundbreaking 'zero income tax' policy, aiming to alleviate the tax burden on individuals earning up to Rs 12 lakh per annum. Odisha Chief Minister Mohan Charan Majhi lauded this initiative as a visionary move.

Taking to social media, Majhi expressed gratitude towards Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman, emphasizing that this step will empower citizens and enhance economic stability. The initiative also included a revised standard deduction for salaried taxpayers, raising the exempt income threshold to Rs 12.75 lakh.

Finance Minister Nirmala Sitharaman's announcement is seen as a major relief for the middle class, restructuring tax slabs to offer significant economic benefits. The move is anticipated to open up new financial opportunities and invigorate economic growth across the nation.

(With inputs from agencies.)