From immediately planning a holiday to generously deciding to forego a salary hike, the spontaneous reactions of the salaried beneficiaries of FM Nirmala Sitharaman’s Budget tax breaks range from the euphoric to the quixotic.
In her eighth Budget, the FM has gifted savings of ₹83,200 for those in the slab under ₹12 lakh who have opted for the new tax regime, while those in the tax bracket of around ₹20 lakh will get ₹93,600 more in hand.
Hearing about the potential savings, 24-year old Bengaluru based management trainee Shreyansh Jalan rather poetically says that “Budget 2025 is the script that rewrites my spending and savings”. He says he can look at doing things beyond the daily grind.
Holidays on the horizon
Almost everyone businessline spoke with talked about a holiday. Take 24-yea-old Namit Shah, a management trainee in a private firm, who wants to wing it to Goa. “Now I can travel without worrying about stretching my budget,” he says.
“I am happy to know that I can finally treat myself to a much better vacation this year with the extra savings. I will not ask for a salary hike for the subsequent year,” says 29-year old Mumbai-based video producer Owais Mirza.
Of course, there are prudent people like V Preethi, an IT professional, who wistfully wishes for extra money “for a good holiday”, but says will wait for her May salary slip to know exactly how much she will save.
More room for investments
For 34-year-old Surekha Jhankar Kami, the additional money in hand will be invested in upskilling as well as saving better. “With reduced tax liability, I can invest more in mutual funds and plan better for future needs,” she says.
The sentiment is echoed by Meghna Prasad, 30, an account manager, who says, “The increased savings will ease the financial pressures and enhance the quality of life along with better financial planning. “
Twenty-nine-year old teacher Varun R Srinivas, says, “The tax rebate will help me save more and I would like to invest in a property in the near future.”
Social media creator Saksham Gupta says he plans to channel the additional savings on financial growth and personal development.