Sitharaman has no good news for taxpayers

Finance Minister Nirmala Sitharaman on Thursday said there are no changes in tax rates for direct and indirect taxes, including import duties.

She also said the number of tax filers has swollen 2.4 times and the direct tax collection has trebled since 2014.

The processing time of tax returns has been reduced from 93 days in FY14 to 10 days; and refunds have been made faster, she said.

The government continues to be on the path of fiscal consolidation to reduce fiscal deficit to 4.5% in 2025-26.

She added that the tax base of Goods and Services Tax (GST) has more than doubled since FY14.

Union Budget 2024-25: Complete Coverage