The top priority of the Narendra Modi government during the union budget is the farmers’ issue. To know whether the budget will give a positive impact or a negative impact in our bank balances, we should wait and watch.
The income tax that we pay will be determined the union budget. The tax slab for those who have an annual income between Rs 0 - Rs 2.5 lakhs is 0%, Rs 2.5 lakhs to Rs 5 lakhs is 5%, Rs 5 lakhs to Rs 10 lakhs is 20% and for those who have annual income more than Rs 30 lakhs, the tax is 10%.