New Delhi - Saba:
The Indian government announced Sunday major tax breaks for the middle class in the federal budget worth $11.5 billion, aiming at protecting the economy from global challenges.
According to the (Russia Today) website, Indian Finance Minister Nirmala Sitharaman revealed during her budget speech Saturday that these tax breaks will exempt ten million Indians from paying income tax, according to Bloomberg.
The budget also included new subsidies for farmers and reductions in customs duties.
This announcement comes in contrast to last July's budget, in which Prime Minister Narendra Modi announced a plan to pump about two trillion Indian rupees ($23 billion) over several years to create new job opportunities, after her party suffered a setback in the elections.
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