RBI GOVERNOR RAGHURAM RAJAN PITCHES FOR HIGHER I-T EXEMPTION LIMIT

Days ahead of the Budget, RBI governor Raghuram Rajan on Wednesday pitched for increasing the tax-exemption limit on financial investments for individuals from R1.5 lakh a year. In a call with analysts, Rajan also reiterated that inflation continued to be a concern. Acknowledging that there was a R50, 000 increases in the limit in the last Budget to R1.5 lakh a year, he said benefits of this instrument have been lost over time as the limit was anchored at R1 lakh for a long time.

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