FM Nirmala Sitharaman: New Tax Regime A Game-Changer

India marked 165 years of Income Tax with a special event at Vigyan Bhawan, Delhi, where Union Finance Minister Nirmala Sitharaman delivered the keynote address. Speaking at the milestone celebration, Sitharaman highlighted the success of the new tax regime introduced two years ago. She noted that 72% of taxpayers have already transitioned to the new system, which is designed to be transparent and straightforward. The Finance Minister emphasized that the simplified tax rates, lack of exemptions, and reduced compliance burdens have made the new regime highly attractive, signaling its strong acceptance among taxpayers.