Union Finance Minister Nirmala Sitharaman described the recent Union Budget as being focused on simplifying direct taxes and making compliance easier for the people. She acknowledged the concerns of the middle class, stating that their aspirations had been overlooked in the past. Sitharaman emphasized the importance of addressing these concerns by introducing a new Income Tax Bill that aims to simplify language, reduce compliance burden, and make the tax system more user-friendly. She clarified that the government is not planning a major overhaul of tax rates but is working towards making the system more taxpayer-friendly. The new income tax legislation is set to be introduced in Parliament next week.
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