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The Indian government is considering lowering personal tax rates for certain categories of individuals, which could help boost consumption in the Asia's third-largest economy, two government sources told Reuters.
The plan could be announced in July when Prime Minister Narendra Modi's government presents the first federal budget after his Bharatiya Janata Party (BJP) failed to win a majority on its own.
A post-poll survey showed that voters were worried about inflation, unemployment, and decreasing incomes.
While the Indian economy grew at a world-beating 8.2 percent in 2023-24, consumption has grown at half that pace.
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