Budget highlights: Super rich to be taxed more, fuel tax increases
PM Narendra Modi hailed Finance Minister Nirmala Sitharaman's maiden Budget as a 10-year vision. Here are the key takeaways of Budget 2019
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Narendra Modi | Nirmala Sitharaman | Union Budget 2019
BS Web Team |
Last Updated at July 5, 2019 23:29 IST
EVENT HIGHLIGHTS
Finance Minister Nirmala Sitharaman on Friday hiked the income tax on individuals earning more than Rs 2 crore annually to help the government o help pay for recapitalising banks and supporting small business in a bid to revive sagging growth. However, it's not that only the rich have been asked to shoulder the burden of the country's finances. Petrol and diesel prices will increase by Rs 2 a litre from Saturday after the Union Budget proposed a hike in cess and duties.
In her maiden budget speech, Finance Minister Nirmala Sitharaman also announced plans to sell India’s first global sovereign bonds and ease rules for overseas investors to help revive economic growth -- amid much table-thumping by her party members and allies as the opposition silently looked on.
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