Finance Minister Nirmala Sitharaman presented the Interim Budget 2024-25 in Parliament on February 1, following the start of the Budget Session. In her speech, she refrained from making significant income tax announcements, maintaining the existing tax rates. Notably, the government has prolonged the deadline for certain tax benefits for startups and exemptions for specific IFSC units until March 2025. HW News’ Managing Editor Mr. Sujit Nair discusses the interim budget and explains how taxes are being collected and also explains its devolution. Mr. Nair also explains how increased freebies may lead to increased taxes which would be an additional burden on the general public