Union Finance Minister Nirmala Sitharaman speaks in the Lok Sabha during the Winter session of Parliament, in New Delhi, Friday, Dec. 5, 2025. (Sansad TV via PTI Photo) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Finance Minister Nirmala Sitharaman on Friday said the Modi government has sharply cut direct and indirect taxes within a single year, a historic first in India.

"At no point in India’s independent history have both direct and indirect taxes been reduced so significantly within a single year," she told lawmakers in the Lok Sabha.

The minister said India under previous governments once had "absurd levels" of income tax — as high as 95% — whereas the Modi government delivered a substantial reduction in taxes this year.

The Union Budget 2025 introduced signifi

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