<h1>Tax Reform reshapes incentives and compliance, phasing out exemptions while expanding presumptive schemes and dispute relief measures.</h1> Annual budget sets a nine pillar Transform India agenda prioritising agriculture and rural welfare, social sector coverage, infrastructure, education and skills, financial sector reform, governance, fiscal discipline and tax reform. It pairs targeted allocations and scheme rationalisation with legislative and institutional measures: Aadhaar based targeted delivery, Monetary Policy Committee by amending RBI Act, a Code for Resolution of Financial Firms, bank recapitalisation, phased phasing out of multiple tax incentives alongside reliefs for small taxpayers, a limited compliance window for undisclosed income, a Dispute Resolution Scheme for tax appeals, and comprehensive customs and indirect tax rationalisations to incentivise domestic value addition.