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From Indira Gandhi's 97.5% tax rate to Budget 2025: A shift in tax policy

IndiaTimes Saturday, 8 February 2025
India's tax policy has evolved significantly since the 1970s, when Prime Minister Indira Gandhi's government imposed a 97.5% income tax rate to promote economic equality. This policy led to massive tax evasion and a shrinking tax base, prompting reforms. By Budget 2025, a more progressive tax framework is anticipated, focusing on growth and taxpayer relief.
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