New Delhi: The Finance Minister, Nirmala Sitharaman, today, hinted at cutting the personal income tax rate to boost consumption and give relief to individuals. She said that the announcement will come in the upcoming budget scheduled to be presented in February 2020.
Nirmala Sitharaman while speaking at the HT Leadership Summit, 2019, said, “A cut in personal income tax. One among the many things we are looking at.”When she was asked when the cut will come into force, she said to wait till the budget which is due to be presented in coming February.
Experts believe that a cut in the personal income tax by the government will give a boost to the economy suffering from sluggish private investment and low demand.
