India Budget 2020: 'Nominal GDP growth for 2020-21 at 10%'
FM said budget was woven on three themes: Aspirational, economic and development of India.
India's Finance Minister Nirmala Sitharaman presented the budget 2020 on Saturday at the Parliament House.
The budget was woven on three themes, according to the FM - aspirational, economic, development of India.
Among the major proposals was doubling farmers' income, massive tax rate cuts for individuals among other proposals focused on AI, technology, agriculture and industrial development.
Indications from statements made by President Ram Nath Kovind and Prime Minister Narendra Modi at the start of the Parliament's Budget session may presage a Budget woven around the theme of the start of a new decade and the building of a New India.
PM Modi kicked off the "new decade" theme on Friday morning in his customary statement before the beginning of the Budget session.
The Prime Minister called for wide discussions on the economic issues in the country and how to maximise benefits to India in the current global economic scenario.
"We should focus mostly on economic issues in this session and we should to try to see how India can benefit most out of the present global economic scenario and how it can take forward the country's economy."
India #Budget2020 Live- Khaleej Times (@khaleejtimes) February 1, 2020
Income from ?0.5 - ?0.75 million to be taxed 10%
Income from ?0.75 - 1 million to be taxed 15%
Income upto ?1 - 1.25 million to be taxed 20%
Income upto ?1.2.5 - 1.5m to be taxed 25% https://t.co/lZM47zQ65q
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