Home News Revenue Secretary states that the new tax regime will not affect the country’s savings rate

Revenue Secretary states that the new tax regime will not affect the country’s savings rate

Revenue Secretary states that the new tax regime will not affect the country’s savings rate.
Household savings through tax saving instruments is only Rs 4 lakh cr, which is 16% of total savings.
Therefore, shifting to the new tax regime will not endanger the country’s savings rate.