While many were expecting populist budget in the run up to polls, announcements like income support for farmers, pension for informal workers and tax rebates for the middle class managed to generate some euphoria.
For every rupee in the government coffer, 70 paise will come from direct and indirect taxes, while the government will spend 23 paise towards state's share of taxes and duties.
In a major relief to the middle-class, Finance Minister Piyush Goyal Friday proposed to double the threshold for tax exemption in a move that proposal will benefit 3 crore middle-class tax payers.
Interim Finance Minister Piyush Goyal on Friday made key announcements on the economy, income tax, farmer relief packages, among others, while presenting the last Budget of the Modi government ahead of the Lok Sabha elections.
The big numbers ahead of Budget 2019.
Goyal, who has been given an additional charge of the finance ministry on Wednesday in the absence of Arun Jaitley, is scheduled to meet chiefs of the state-owned banks on Monday to review financial performance of the banks.
A Congress leader termed the Shiv Sena's comments a day earlier on demonetisation as "fairly accurate" but also asked the latter if it would continue to be a part of the BJP-led governments at the Centre and Maharashtra.
Denmark’s Finance Minister Kristian Jensen said a European Union plan to impose a 3 percent tax on the turnover of digital giants was a bad idea that would trigger retaliation from the United States.
Excessive competition at times can result in stress in a particular sector, Finance Minister Arun Jaitley said pointing out that these are challenges of the growing economy.
India’s finance minister Arun Jaitley criticised the Reserve Bank of India (RBI) for failing to prevent lending excess in a speech.