Tax experts give thumbs up Arun Jaitley’s Budget. Here’s what their analysis says

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Tax experts give thumbs up Arun Jaitley’s Budget.
Here’s what their analysis saysThe Prime Minister Narendra Modi -led Indian Government was looking to soothe pains of the common man after the demonetisation burns and the Finance Minister Arun Jaitley announced few tax concessions for the common man.
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While announcing the tax measures in his Budget 2017, Jaitley said the income tax rate for people earning income between Rs 2.5 lakh and Rs 5 lakh will be 5%. Presently, it is at 10%.

Also, the FM has levied a surcharge of 10% on people earning an income between Rs 50 lakh and Rs 1 crore. Also, 15% surcharge on income above Rs 1 crore will continue.

Also, the net revenue loss on direct tax proposals amounts to Rs 20,000 crore and the net tax revenue grew by 17% in 2015-16.

Experts welcomed the move, saying this is a fresh breeze of air, adding low income earners have been given relief.

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Here’s what the experts’ analysis looks like