AI-summarised budget news and updates for India
The Union Budget 2026 reduced customs duty on EV battery components, motors, and charging infrastructure from 18% to 10%. The government aims to attract ₹50,000 crore in EV manufacturing investments and create 2 lakh jobs by 2030. This complements the ₹5,000 crore Production Linked Incentive scheme for advanced chemistry cells. Source: PTI.
Finance Minister maintained the existing income tax slab structure in Budget 2026 but raised the standard deduction from ₹50,000 to ₹75,000, providing tax relief of up to ₹7,500 annually for salaried employees. The hike in deduction is expected to boost disposable income and consumer spending. Experts recommend focusing on tax-saving investments before the financial year ends. Source: The Indian Express.
The Central Board of Direct Taxes launched a unified crypto tax calculator utility on the e-filing portal, allowing taxpayers to compute gains across multiple exchanges and tokens in one place. The tool supports import of transaction histories from 25 major crypto exchanges. Tax experts say this simplifies compliance but does not change the 30% tax rate on crypto gains. Source: Zee Business.
