Triple bonanza this Diwali: How income tax cuts, GST reductions & repo rate cut have put around Rs 1.5 lakh in your pocket

This Diwali , you have more disposable income in your hands thanks to a triple bonanza of government’s income tax rate cuts, GST rate reductions and RBI’s 1% repo rate reduction. And the higher disposable income is not a small amount - it’s over Rs 1.5 lakh at some income levels! In this article, we take a look at how irrespective of the income level you are at, there is more money in your pocket thanks to either tax cuts, EMI reductions or a combination of both. The Narendra Modi government announced zero income tax up to income levels of Rs 12 lakh in this year’s Budget under the new income tax regime, effective for the financial year 2025-26. While income up to Rs 4 lakh is now tax exempt, those earning up to Rs 12 lakh can avail a rebate, reducing their tax outgo to ZERO.