Budget 2024 Live: Finance Minister Affirms Status Quo in Tax Structure; No Proposed Changes in Direct and Indirect Tax Rates

In the ongoing Budget 2024 session, Finance Minister makes a significant announcement, stating the government’s decision not to propose any alterations in the tax structure.

The proposal includes retaining the current tax rates for both direct and indirect taxes, encompassing export duties. The Finance Minister highlights the substantial growth in tax collections over the last decade, emphasizing that collections have more than doubled during this period. Stay tuned for further updates on budgetary decisions as they unfold.


“In keeping with the convention, I do not propose to make any changes relating to taxation and propose to retain the same tax rates for direct taxes and indirect taxes including import duties,” the finance minister said in her budget speech.