'Grandstanding,' Congress' Manish Tewari sums up Union Budget 2020

Congress leader Manish Tewari on Saturday said that the Union Budget 2020 can be summed up as grandstanding.

"Union Budget 2020-21 can be summed up in ONE WORD AND ONE PHRASE. WORD - GRANDSTANDING. Phrase - MOTHERHOOD AND APPLE PIE," Tewari tweeted after the Budget was presented in the Parliament.

Congress leader Rahul Gandhi found the Budget speech to be hollow.

"Maybe this was the longest Budget speech in history but it had nothing, it was hollow," Gandhi told media while leaving the Parliament after attending the Budget session in Lok Sabha.

Presenting the Budget, Union Finance Minister Nirmala Sitharaman on Saturday announced a new regime of personal income tax, setting aside Rs 4,400 cr to battle climate change, outlaying of Rs 2.83 lakh crore for agriculture and allied sector.

"Under the new personal income tax regime, individual taxpayers to pay tax at a reduced rate of 10 per cent for income between Rs 5 lakh and 7.5 lakh against the current rate of 20 per cent," Sitharaman said while presenting the Budget.

"Those with income between Rs 7.5 lakh to 10 lakh to pay tax at 15 per cent against the current 20 per cent. Those with income between Rs 10 to 12.5 lakh to pay tax at 20 per cent, down from 30 per cent," she added.