The new tax regime in India offers a disruptive approach toward simplification of the tax structure and improvement in the compliance and further boost to economic growth. This work finds out its features, advantages, and disadvantages along with its impact on the fiscal policy of the country. A comparative analysis of the old and new regimes brings out the trade-offs between simplicity and flexibility. The paper uses mixed-methods research, combining survey data, qualitative insights, and quantitative analyses to evaluate the effectiveness of the regime in achieving its objectives. Findings show that although the new tax regime offers streamlined compliance and increased disposable income for certain segments, it has hurdles such as limited awareness and reduced financial planning options. DOI-linked references support the study, and it provides an exhaustive understanding of India's changing tax scenario and future course.