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Presenting the Union Budget for 2020-21, Finance Minister Nirmala Sitharaman said, “In May 2019, Prime Minister Narendra Modi received a massive mandate to form the government again. People of India have unequivocally given their janaadesh for not just political stability, but have also reposed their faith in our economic policy. This is a budget to boost their income and enhance their purchasing power.”

The highlights of this year’s budget:

Tax:

Income

Tax

Between ₹5 lakh and ₹7.5 lakh

Reduced to 10% from the current 20%

Between ₹7.5 lakh to ₹10 lakh

Reduced to 15% from the current 20%

Between ₹10 lakh to ₹12.5 lakh

Reduced to 20% from the current 30%

Between ₹12.5 lakh to ₹15 lakh

Reduced to 25% from the current 30%

Above ₹15 lakh

Continue at 30%, but without exemptions

 

Economy and Finance:

Agriculture:

Health and Sanitation:

Education:

Infrastructure:

 

 

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