Budget 2020 in 2 minutes: Fiscal deficit target, income tax rates, and more

The personal income tax has been simplified and reduced. Individuals will have to pay tax at the reduced rate of 10% for incomes of Rs 5-7.5 lakh, against the current rate of 20%

Union Finance Minister Nirmala Sitharaman presented her second Budget in Parliament on Saturday.

Sitharaman slashed income tax for individuals, abolished dividend tax for companies and announced record spending in agriculture and infrastructure sectors to pull out the economy from its worst slowdown in more than a decade. Here are the highlights of Budget 2019:

Here are the highlights of Budget 2020:

Fiscal deficit