'Not subject to rising rates…’: Congress Manifesto’s promise for salaried class’ income tax

The Congress through its manifesto for the upcoming Lok Sabha elections has promised a personal income tax rate that will not subject the salaried class to rising tax rates.

"Congress will maintain stable personal income tax rates throughout its term," the Congress said in its manifesto released on Friday.

This will ensure that the salaried class is not subjected to rising tax rates and have clarity to plan their finances over the medium-to-long-term period," Congress said.


ALSO READ: Congress manifesto: Promises to replace Modi govt's GST with a moderate GST 2.0 that will not burden the poor

It has also vowed to eliminate 'angel tax' and other 'exploitative' tax schemes that inhibit investment in new micro, samll companies and innovative startups.

"Congress will lessen the burden of tax on MSMEs owned by individuals and partnership firms," it said.

The manifesto, titled ‘Nyay Patra', was released at the AICC headquarters in the presence of Congress president Mallikarjun Kharge and former party chiefs Sonia Gandhi and Rahul Gandhi. It focused on five 'pillars of justice' and 25 guarantees under them.

The Congress will pass a constitutional amendment to raise the 50 per cent cap on reservations for SC, ST and OBC if it comes to power in the general elections beginning April 19, the party promised.

The Congress also said it would conduct a nationwide socio-economic and caste census.

It said it guarantees a new 'right to apprenticeship act' to provide one-year apprenticeship to every diploma holder or graduate below age of 25.