Budget 2019: Further tax exemption a possibility

There is a chance of a hike in the income tax exemption in the upcoming Financial Budget. According to economist Akash Jindal, the Indian economy needs momentum and the tax exemption will not cause any loss to the government.

New Delhi:The Financial Budget of Modi 2.0 will be tabled in the parliament on July 5 and a lot of speculations are making rounds.

Talking to ETV Bharat, economist Akash Jindal said that a hike in the income tax exemption can help the Indian economy and is likely to be a possibility in the Budget of 2019.

"Hike of 2 lakh in the slab of income tax exemption is justifiable and would leave more money in the hands of citizens which would, in turn, increase the expenditure," said Jindal.

He also said that the Indian economy needs momentum and the tax exemption will not cause any loss to the government.

"Fewer taxes will increase the consumption and business in the economy," added Jindal.