Highlights: FM Nirmala Sitharaman's announcement on February 1 brings a gift for the Indian middle class with no tax payable up to ₹12 lakh income.

FM Sitharaman donned a Madhubani silk saree as she presented her eighth budget, highlighting Bihar projects. The opposition clashed over Kumbh deaths but fell silent as she announced zero tax on Rs 12L income.

Finance Minister Nirmala Sitharaman said that the the tax proposal will allow people to have more money in their hands.

Overall, the Budget focuses on providing significant benefits to the middle class by reducing the tax rates and thereby increasing the take home pay for individuals. It is clear that the Budget is aiming to further promote adoption of the new regime.

The budget does not offer a realistic road map to resolve the critical problems of unemployment, poor pay packages and underskilling.

Nirmala Sitharaman gave the middle class a huge boost when she declared that anyone earning up to Rs 12 lakh would not be subject to taxes.

Finance Minister Nirmala Sitharaman announced no income tax payable up to Rs 12 lakh under the new regime, offering significant relief to the middle class. The new tax slabs include 5% on Rs 4-8 lakh,

As Nirmala Sitharaman presents her eighth consecutive budget, the salaried class will be expecting some relief in income tax rates.