#Incometax trends on Twitter after Nirmala Sitharaman’s Budget 2023 speech. Best memes

Union Finance Minister Nirmala Sitharaman presented the Union Budget 2023 in Parliament today. This year’s budget comes at a time when India’s economy is facing challenges due to global factors; A steep rise in inflation and possible GDP growth slowdown in FY2024.

#middleclass #Budget2023 #NirmalaSitharaman #BudgetSession

No #IncomeTax upto 7 Lakh,

Guys with Package upto 6 lakh : pic.twitter.com/TToBgVg85V

— g0v!ñD $#@®mA (@rishu_1809) February 1, 2023

Middle class rn 🥳🥳
No tax under 7 lakhs#Budget2023 pic.twitter.com/qMEFliiEUI

— MSDIAN 🦁🇮🇳 (@MSD_077) February 1, 2023

Salaried Middle Class to #NirmalaSitharaman while waiting for the updates on the Income Tax slabs:#Budget2023 #incometax #middleclass #middleclass pic.twitter.com/NaZttzsvbS

— Mohd Ahtisham Ahsan (@MohdAhtishamAh1) February 1, 2023

#Budget2023 #middleclass pic.twitter.com/Eyo3v8zkRH

— ANSH 🇮🇳 (@Ansh2_) February 1, 2023

However, the finance minister has announced some relief for taxpayers as he has proposed a new tax bill under which the income tax exemption limit has been raised from Rs 5 lakh to Rs 7 lakh. “In 2020, I introduced a new personal income tax system with 6 income brackets starting from Rs 2.5 lakh. I propose to change the tax structure by reducing the number of slabs to 5 and increasing the tax exemption limit to Rs 3 lakh in this regime,” he said.

#Incometax occupied one of the top spots on Twitter as the micro-blogging site was flooded with memes and reactions. People pointed out that this budget is a relief to the middle class.

Changes in income tax slabs #Budget2023 pic.twitter.com/2w70yti12V — Sagar (@sagarcasm) February 1, 2023