You are here: Home » Interim Budget 2019 » News
Business Standard
Web Exclusive

The 70-year journey of income tax in India: From a peak of 97.75% to 30%

In 1947, no income tax was payable on income up to Rs 2,500; seventy years later, in 2017, this figure rose 10x and became Rs 2.5 lakh

Income Tax  |  Piyush Goyal  |  Modi Government

Ankur Bhardwaj  |  New Delhi 

The acting Finance Minister, Piyush Goyal, would present the interim budget on February 1, 2019 and one of the most keenly awaited announcement would be about any changes in the individual regime. Would the offer more relief to taxpayers before elections? Will the exemption limit be raised from Rs 2.5 lakh to Rs 3 lakh or even Rs 5 lakh? Will there be changes in rate of across slabs?



What you get on Business Standard Premium?

  • icon Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • icon Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • icon Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
  • icon Pick your 5 favourite companies, get a daily email with all news updates on them.
  • icon 26 years of website archives.
  • icon Preferential invites to Business Standard events.


Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, January 30 2019. 12:10 IST