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New optional tax regime could adversely affect dwindling savings:Experts

-According to reports, over the past six years, India’s savings rate has been considerably declining. In 2012, the overall saving rate in India was around 36 per cent but it is now down to 30 per cent.
-The finance ministry expects at least 80 per cent of the taxpayers to move to the new income tax regime, Revenue Secretary Ajay Bhushan Pandey had earlier said.

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