2024 India Union Budget tax changes were made for equitable treatment of asset classes, not for revenue increase.
In response to criticism about tax increases in India's Union Budget 2024, Finance Minister Nirmala Sitharaman explained that the tax changes were not made to generate more revenue, but to ensure that all asset classes are treated equitably. Sitharaman stated that "taxes have not been increased because I want more money... The decision is based on the idea that every asset class has to be treated similarly."
July 26, 2024
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