Happy Birthday Narendra Modi: Prime Minister Narendra Modi will celebrate his 75th birthday on 17 September 2025. In 2014, at the age of 64, PM Modi became the Prime Minister of the country for the first time. Since then, in the last 11 years, the Modi government has made many major changes on the tax front in the country, which directly affect the pocket of the common man. On the occasion of Prime Minister Modi’s 75th birthday, let us know what big announcements related to tax have been made so far during his tenure and in the meantime, the common man has got relief…
Tax exemption increased, common man gets rest
When the Modi government came in 2014, the tax exemption limit was Rs 2 lakh. The government increased it to Rs 2.5 lakh, which gave some relief in tax for the first time. After this, in 2016, this limit was increased to Rs 5 lakh, meaning now no tax had to be paid on income of up to Rs 5 lakh. The tax slab was also changed in the 2017 budget, where the tax on income of 2.5 lakh to 5 lakh rupees was reduced from 10% to 5%. This was the first time that a decision was taken directly to affect the pockets of the employed people.
Standard deduction and new tax system
Standard deduction was announced in 2018, that is, taxpayers started getting the benefit of up to 40 thousand rupees. After this, in the 2019 budget, it was increased to 50 thousand rupees. The new tax policy came into force in 2020, in which income up to Rs 5 lakh was completely taxed. With this new system, it became easier to pay tax and people have got better options according to their income.
Increased rising reliefs and improvements
In 2022, taxpayers were given two years to rectify mistakes in their tax returns. This step proved to be very helpful for the common people. In 2023, the exemption limit under the New Tax Reseem was increased to Rs 7 lakh and the standard deduction remained Rs 50,000. Also, the exemption limit of old tax slab was also increased to Rs 3 lakh.
Big changes in the budget of 2024 and 2025
In the budget of 2024, the new tax policy was further strengthened and income tax of up to Rs 7 lakh was made free. Standard deduction was also increased from Rs 50 thousand to 75 thousand rupees. This change was especially brought to the middle class and employed people. In the budget of 2025, income up to Rs 12 lakh was made tax free under the new tax regime.
In this way, the Modi government proved that their priority is the economic good of the middle class and employed people of the country. Over time, the tax burden on the common man’s pocket has reduced and it has become easy to pay tax.