Inside the People's Budget: Nirmala Sitharaman's Vision for India's Financial Future

Finance Minister Nirmala Sitharaman discusses the revolutionary aspects of India's latest budget in an interview with PTI. Key focuses include simplification of direct taxation, expanding the tax net, and responding to middle-class taxpayers' voices. Sitharaman emphasizes tax reforms aiming for economic growth and the inclusion of broader demographics.

Finance Minister Nirmala Sitharaman sat down with PTI's Editor-in-Chief, Vijay Joshi, to discuss the recent budget reforms billed as revolutionary. Marking her eighth consecutive budget, Sitharaman's latest financial plan simplifies direct taxation while reducing compliance burdens, making it more user-friendly for taxpayers.

Amidst the introduction of the new Income Tax Act, Sitharaman highlighted efforts to expand the tax net, thereby underlining the voices of the proud, honest middle-class taxpayers. Dialogue with stakeholders, including Prime Minister Narendra Modi, has shaped this inclusive budget, aiming to widen participation in the national tax system.

The budget is expected to impact consumption and savings, potentially fueling economic growth. Despite optimistic revenue projections and a Rs 1.3 lakh crore sacrifice via tax cuts, Sitharaman assures realistic fiscal targets, maintaining that India's fiscal health remains strong against global economic challenges.

(With inputs from agencies.)