- Economic reforms in 2025 reflect a maturing phase of India’s governance, where the emphasis shifted decisively from “expanding regulatory frameworks” to “delivering measurable outcomes”.
- The Union Budget 2025-26 exempted the annual incomes up to ₹12 lakh from income tax under the new regime, with the effective exemption rising to ₹12.75 lakh for salaried taxpayers on account of the standard deduction.
- The Government announced a comprehensive overhaul of the Income-tax Act, 1961, resulting in the New Income Tax Act, 2025.
- The Act strengthens digital-first enforcement, faceless tax administration, consolidates compliance provisions such as Tax Deducted at Source (TDS) under a single section etc. Read More
India’s 2025 Economic Reforms
Context
Income Tax Reforms