Union Budget Buzz: Is ₹15 Lakh Income Set to Become Tax-Free? Middle Class Watches Closely
Ahead of the Union Budget, speculation is growing around a proposal to make annual income up to ₹15 lakh tax-free under the new tax regime.
As the Union Budget approaches, one topic has captured the attention of salaried employees and professionals across the country — the possibility of making income up to ₹15 lakh tax-free. The discussion has gained momentum following last year’s reforms, which made income up to ₹12 lakh effectively tax-free under the new tax regime through enhanced rebates.
Economic experts and market observers believe the government may consider extending tax relief further to boost consumption and ease the burden on the urban middle class, which has faced rising costs of living. A higher tax-free threshold, if introduced, would mark a significant shift in personal taxation and could increase disposable income for millions of taxpayers.
At present, income above ₹12 lakh is taxed as per applicable slabs, and there is no official confirmation that ₹15 lakh will be exempt from tax. Finance Ministry officials have remained cautious, stating that all policy decisions will be revealed only during the Budget speech in Parliament.
Supporters of the proposal argue that broader tax relief would strengthen domestic demand and reward honest taxpayers. Critics, however, warn that such a move could put pressure on government revenues at a time when fiscal discipline remains a priority.
Until the Union Budget is presented, the idea of ₹15 lakh tax-free income remains speculative. For now, taxpayers can only wait as the government prepares to outline its economic vision for the coming year.
