FM Nirmala Sitharaman Explains Why The New Tax Regime Does Not Discourage Investments

Finance Minister Nirmala Sitharaman defends the new tax regime, emphasizing its simplicity and flexibility for taxpayers. She reassures that the old regime remains available, noting that 72.8% of taxpayers, or 5.2 crore, have adopted the new system by July 31 in the 2024-25 assessment year. The total number of taxpayers stands at 7.22 crore. Sitharaman argues that the new regime does not discourage investments but rather streamlines tax processes.