Union Budget 2024 and your money

The 2024 Union budget, which marks the Narendra Modi-led government's first of its third term and finance minister Nirmala Sitharaman's record-equalling seventh, was eventful for taxpayers and investors. For taxpayers, the revised new tax regime is set to energise middle-income earners. For investors? Not so much. Let's start with income tax. Income tax slabs in the new tax regime will be revised as such: New tax regime (existing) Tax rate New tax regime (revised) Tax rate Up to Rs 3 lakh 0% Up to Rs 3 lakh 0% Rs 3-6 lakh 5% Rs 3-7 lakh 5% Rs 6-9 lakh 10% Rs 7-10 lakh 10% Rs 9-12 lakh 15% Rs 10-12 lakh