The proposals presented in the Union Budget 2018 by Finance Minister Arun Jaitley yesterday left the middle class sulking.
In a relief to salaried, middle-class individuals, the government has reintroduced standard deduction of Rs 40,000 on taxable income in Budget 2018, but with a rider.
Arun Jaitley, however, did not introduce any changes in the personal income tax rates for salaried individuals.
The Finance Minister said, "Government has made many positive changes in the personal income tax rates applicable to individuals in the last three years, therefore, I do not wish to make any changes."
Watch what the Finance Minister had to say when Vice-Chairperson of India today Group, Kallie Purie asked what's in the Budget for the middle class.
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