Bhubaneswar, Feb 1: Odisha Chief Minister Mohan Charan Majhi has expressed his gratitude to Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman for introducing a zero income tax policy for individuals earning up to ₹12 lakh per annum under the new tax regime.

Taking to social media platform X, Majhi lauded the move, calling it a "transformative initiative." He wrote: “A heartfelt thank you to Hon’ble PM Shri @narendramodi Ji and Hon’ble Finance Minister @nsitharaman ji for this visionary step of Zero Income Tax till ₹12 Lakh under the New Tax Regime. This move empowers citizens, strengthens the economy, and creates brighter financial opportunities for all.”

His remarks followed Sitharaman’s announcement in the Union Budget 2025-26 that salaried individuals earning up to ₹12.75 lakh (including standard deduction) will not have to pay any income tax.

As per the revised tax structure, the rates are:

₹0-4 lakh – No tax

₹4-8 lakh – 5%

₹8-12 lakh – 10%

₹12-16 lakh – 15%

₹16-20 lakh – 20%

₹20-24 lakh – 25%

Above ₹24 lakh – 30%

The move is expected to provide significant relief to the middle class, boosting their financial stability.

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