No Change to Income Tax Slabs For Salaried Class in Budget 2018

But, Rs 40,000 can be saved under the transport and medical reimbursement.

Personal income tax rates for the salaried class remained unchanged in the Union Budget 2018 that was presented by Finance Minister Arun Jaitley in the Lok Sabha on Thursday, 1 February. However, the Finance Minister announced a standard deduction of Rs 40,000 under transport and medical reimbursement.

In his opening remarks, Jaitley said that India is poised to become a $5 trillion economy – up from the current $2.5 trillion. "We are now a $2.5 trillion economy, and we are firmly on the path to achieve 8 percent plus growth soon," the Finance Minister said.

"From ease of doing business, our government has moved to ease of living for the poor and middle-class," he said

We hope to grow at 7.2 percent to 7.5 percent in the second half of 2017-18.

Arun Jaitley, Union Finance Minister