Budget 2020 highlights: Budget will increase income & investment, says PM Modi
A massive relief to taxpayers, income tax for income between Rs 5-7.5 lakh p.a halved to 10%. Income tax for an income between Rs 10 and Rs 12.5 lakh has been reduced to 20% as against 30% earlier. Income between Rs 12.5 lakh and 15 lakh will be taxed at 25% as against 30% and those at Rs 15 lakh plus annual income, the tax will be 30%. A big cheer for depositors as deposit insurance for depositors enhanced from Rs 1 lakh to Rs 5 lakh. Entrepreneurship is the strength of India, says FM Sitharaman. This budget is to boost income and enhance purchasing power, says adds. Since the Budget comes at a time when the Indian economy is facing a slowdown, stakeholders are expecting economy-boosting measures in this Budget. Stay tuned for live updates.
The main areas of employment are agriculture, infrastructure, textiles and technology. In order to increase employment generation, these four have been given a lot of emphasis in this budget: PM Modi