Budget 2024: Govt may raise exemption in lower bracket under old I-T regime

To offer additional support at the low end of the income ranges, the Centre will consider a large-scale jump in exemption rates under the old income tax regime in the vote on account or interim Budget, according to a senior official in the know.

Those will include an extension of the income tax exemption rates close to Rs 7 lakh and additional measures for women farmers.

The measures, along with announcements to improve the direct tax system, are those which the government feels will not hurt the fiscal deficit numbers now. But they can offer a feel-good sense