New Delhi: Finance Minister Nirmala Sitharaman has made several major announcements in the Budget speech so far. With this, new tax slabs have been announced. A tax of 20 per cent on income ranging from 10 to 12.lakh, 10 per cent tax on income from 5 to 7.5 lakh has been announced and 30 per cent tax will continue for those earning above 15 lakh.
Finance Minister Nirmala Sitharaman has pegged the estimated GDP for the year 2020-21 at 10 per cent, saying it was a strong uproar in Parliament.
Nirmala Sitharaman said that small and medium scale industries have been relieved. The finance minister claimed that his government had changed the system. Referring to PM Modi’s slogan Sabka Saath, Sabka Vishwa Sath, the Finance Minister also mentioned the PM Awas Yojana.
The finance minister announced that some iconic museums will be set up in the country, including Hastinapur in Meerut district. Referring to Rakhiwatch, Hastinapur, Sivasagar, Dholavira Gujarat, Adichantallur village in Tamil Nadu. The creation of a tribal museum in Ranchi has been announced. The Ministry of Culture proposes a provision of Rs 3,150 crore.
