Will salaried workers, farmers benefit from Congress tax proposals?

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1. Stable tax environment for salaried class:

Congress pledges stable personal income tax rates to provide certainty and allow for effective financial planning for the salaried class. Image credits: X

2. Ending inhibitive tax schemes for start-ups:

The party vows to eradicate "Angel tax" and other restrictive tax policies hindering investment in budding start-ups and small businesses. Image credits: X

3. Tax relief for MSMEs:

Congress commits to reducing the tax burden on Micro, Small, and Medium Enterprises (MSMEs) owned by individuals and partnership firms. Image credits: X

4. Curbing cess overload:

The party promises to curb excessive cess and surcharges imposed by the current government, ensuring that states receive their rightful share of tax revenues. Image credits: X

5. Introducing GST 2.0:

Congress plans to replace the current GST laws with GST 2.0, featuring a single, moderate tax rate, barring exceptions, to alleviate the tax burden on the poor. Image credits: X

6. Exemption of GST on agricultural inputs:

Under Congress's proposed GST regime, agricultural inputs will be exempt from GST, providing relief to farmers and supporting the agricultural sector. Image credits: X

7. Empowering state govts for small businesses:

State governments will take charge of overseeing small GST payers falling below a designated threshold, ensuring localized attention and support for these enterprises. Image credits: X Find Next One