Responding to a question on the Supreme Court's remarks on the Adani-Hindenburg row, Sitharaman said regulators have paid considerable attention to the matter.
New Delhi: Union Finance Minister Nirmala Sitharaman on Saturday said that the new personal income tax regime was revised with a view to provide relief and put more money in the hands of people.
Responding to a question on the new tax regime at a press conference held after the RBI's board meeting in the capital, the finance minister said the amendments to the new personal income tax regime are aimed at reducing the tax burden on people.
The amendments to the new tax regime, "the way we have allowed standard deduction and fixed tax rates for different slabs, have left more money in the hands of the people, the taxpayer," the minister said.
Sitharaman said that the government had promised to simplify direct taxation and reduce tax rates.
The minister said the new tax regime is aimed at reducing the tax burden on the middle class, adding that he does not think it is necessary for the government to tell people where to spend their money.
"The money that is left in the hands of a person, it is up to him to decide what to do with it," the minister said. its future interests.
Minister of State for Finance Bhagwat Karad, Reserve Bank of India Governor Shaktikanta Das and Secretary, Ministry of Finance were also present in the meeting.
Responding to a question on the Supreme Court's remarks on the Adani-Hindenburg row, Sitharaman said regulators have paid considerable attention to the matter. They are on their toes as always, and not now.
On a question on cryptocurrency, the Finance Minister said, 'We are talking to all countries about whether a standard operating procedure can be made. Only one country cannot regulate crypto on its own," he said.
RBI Governor Shaktikanta Das said the central bank's inflation projection of 5.3% for 2023-24 is very conservative.
“If oil prices go down significantly and if other commodity prices benefit, it will work in our favor in terms of leading to lower inflation. But if the demand for oil increases due to the opening of countries and high growth in other countries, then the prices of the commodity may increase. Having said that, I would like to add that as I said in my statement the other day, the global economic outlook does not look as dire as what we were told about six months ago," Das said.
“The talk of a deep recession in many countries, including advanced ones, is behind us. Now all over the world the talk is either of a mild recession or just a global recession. So, the risks are equally balanced," the governor said.
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