Union Finance Minister Nirmala Sitharaman announced that no income tax is payable up to Rs 12.75 lakh for individuals filing under the new tax regime.
The announcement attracted numerous reactions from business professionals and entrepreneurs. The founder and CEO of Shaadi.com, and Shark Tank India judge, Anupam Mittal, also shared his thoughts on this notable change. He called the decision a “systematic correction” rather than merely a simple reduction in tax rates.
Taking to LinkedIn, Anupam Mittal pointed out that middle-class professionals have been the country’s punching bag for years. He added, “Taxed at every turn, squeezed for every rupee, while the ultra-rich found loopholes and businesses got tax breaks. Every Budget, same story: hope builds up, expectations rise, then—another ‘Sorry, no relief for you.'”
Talking about the Union Budget 2025, the Shark Tank India judge said that it came with a big shift. Comparing India’s middle-class woes to historical lessons from the US and China, Mittal emphasized that the foundation of strong economies lies in cultivating a prosperous middle class rather than imposing excessive burdens on them. He pointed out that, in the case of India, government strategies have gotten it backward.
“You don’t build an economy by making people feel gareeb. You build it by making them wealthier,” he concluded.
Further, in a post on X, Mittal claimed the new tax regime would make India income-tax-free. “Turns out that almost 90% tax-filers in India have an income below 13 lacs p.a. meaning out of 140 cr people only 1 cr will pay income tax this year effectively making India income-tax free,” wrote the Shaadi.com founder.
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