After presenting the Union Budget 2023, Finance Minister Nirmala Sitharaman said that the new taxation regime, while offering greater incentives for the middle class, is not aimed at compelling people to move from the old regime to the new tax regime. “This country has been waiting for the direct taxation to be simplified, to become easy in terms of compliance. Therefore the new tax regime that we brought 2-3 years ago, has now got greater incentives and attractions so that people can unhesitatingly move from the old to the new. We are not compelling anyone. But the new one is now attractive as it gives greater rebates,” said Sitharaman during a press conference.
