Taxes on individual incomes will now bring more revenue to the government than taxes on corporate profits
The Budget has also laid the road map for overhauling public sector enterprises with the announcement of the broad details of the privatisation policy
So, if a person moves to India and becomes a resident Indian for tax purposes, they get taxed on any income they earn in these accounts
The upper limit is capped at Rs 45 lakh for claiming this deduction.
Congress leader Debabrata Saikia said that the BJP government in Assam and at the Centre always announce projects but their implementations are extremely feeble
Harsh Vardhan hailed the budget proposals concerning the health sector and "health and well-being" was on the top of the six prominent pillars of Atmnanirbhar Bharat outlined in Sitharaman's speech.
How the Budget affects key sectors of the economy
Additionally, the consumer will hopefully have more to spend in the short term, which will push up demand
Ernst & Young analyses the movement of stocks and gives key reasons behind it
This was the best Budget-day performance for the markets since 1999
The DFI should play a more developmental role in building greenfield infra projects, which could help achieve the target of Rs 5 trillion.
Long-term investment in infrastructure by Sovereign Wealth Funds and Pension Funds will also receive a boost owing to certain relaxations
It's a pro-active Budget that gives a boost to wealth as well as wellness, Modi said
Experts say since most startups are loss making, tax holiday will have limited immediate impact on them
Close to 8,500 km of road, highway projects being planned to be awarded by March 2022
The sharp and targeted focus on infrastructure, capex, health, education, financial sector reforms and fiscal credibility have been the key takeaways from this Budget
The first Budget of this new decade reimagines India in the form of Aatmanirbhar Bharat like never before, Sunil Bharti Mittal, Chairman, Bharti Enterprises said
Between 2015-16 and 2019-20, the Centre had pumped in Rs 3.56 trillion into these banks through both direct subscription of equity shares and recapitalisation-bonds
After 51 years of bank nationalisation, the government has finally admitted that it should not be in the business of running all public sector banks
Various initiatives like the tax-efficient zero coupon bonds for notified infra debt funds and the introduction of a bill to set up a DFI for infra financing would help create jobs, Sethi says