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Income tax exemption expansion provides targeted relief to lower-income individuals and simplifies small taxpayer compliance under the interim budget. The interim budget establishes a central direct income support scheme for small and marginal farmers with scheduled cash transfers, creates a separate Department of Fisheries, and announces interest subvention for Kisan Credit Card loans for animal husbandry and fisheries. It launches a contributory pension scheme for unorganised sector workers with initial funding, expands tax relief for individuals through a raised exemption threshold and enhanced deductions, increases TDS thresholds, proposes stamp duty reform via stock exchanges, and reaffirms fiscal glide-path commitments alongside enhanced allocations for defence, social welfare and infrastructure.
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<h1>Income tax exemption expansion provides targeted relief to lower-income individuals and simplifies small taxpayer compliance under the interim budget.</h1> The interim budget establishes a central direct income support scheme for small and marginal farmers with scheduled cash transfers, creates a separate Department of Fisheries, and announces interest subvention for Kisan Credit Card loans for animal husbandry and fisheries. It launches a contributory pension scheme for unorganised sector workers with initial funding, expands tax relief for individuals through a raised exemption threshold and enhanced deductions, increases TDS thresholds, proposes stamp duty reform via stock exchanges, and reaffirms fiscal glide-path commitments alongside enhanced allocations for defence, social welfare and infrastructure.