Budget 2024 Highlights India Income Tax. Finance minister nirmala sitharaman’s union budget 2024 introduced some major changes to the new income tax regime, aimed at boosting consumer spending and economic growth. Last year’s budget had reduced the number of slabs from seven to six.
Finance minister nirmala sitharaman revises tax slabs, allowing salaried employees to save up to ₹17,500 in income taxes. The standard deduction was hiked from rs 50,000 to rs.