New Delhi, 04 February (HS): Finance Secretary and Revenue Department Secretary Tuhin Kanta Pandey on Tuesday said that taxation reform is a key feature of the Union Budget 2025-26, as it has an impact on the rest of the economy. It has been included in Part-A of the budget for the first time.

Finance Secretary Tuhin Kant Pandey was addressing a program of the Indian Chamber of Commerce and Industry (ASSOCHAM). He said that budgeting is to balance various imperatives and never to practice in segments. The Finance Secretary said that personal income tax has increased by 20-25 per cent in the last three years.

The Finance Secretary said that the government has presented such a Union Budget while taking steps to reduce the fiscal deficit, which will not increase inflation. He said that we need to create a broad opportunity for income generation and an environment of voluntary compliance. High level of taxation is regressive, and we have taken the bold step of not increasing taxes.

Hindusthan Samachar / Jun Sarkar