It was an important day for the country as the Finance Minister of India, Nirmala Sitharaman presented the Union Budget 2020.
As per Nirmala Sitharam, Union Budget 2020 is focused on three major points that involved economic development for each section, improving the standard of living and caring society.
The major highlight of the budget turned out to be the new income tax slabs but thankfully the government has granted an option to the citizens, where they can either choose to continue to go with the old tax rates with an exemption or can go with the new tax rates without exemption.
For those earning between Rs 5 lakh and Rs 7.5 lakh per annum, she reduced tax rates to 10 percent. For those earning between Rs 7.5 lakh to Rs 10 lakh per annum, the tax was reduced to 15 percent.
The tax was reduced to a tax of 25 percent for people earning between Rs 10 lakh and Rs 12.5 lakh. For people earning upto Rs.5 Lakh, no tax will be levied.
“This Budget has strengthened my government’s commitment towards the minimum government, maximum government,” PM Modi was all praises for the new budget in the video he shared on his Instagram account.
Here, check out the what PM Modi has to say about the budget:
— Narendra Modi (@narendramodi) February 1, 2020
The traces of disappointment and disapproval made its way to the Internet. Netizens just couldn’t stop themselves from trolling the FM and her budget. The budget invited a meme fest on Twitter.
Here, check out the reactions of Twitterati on this:
— Hunटरर ♂ 🥳 (@nickhunterr) February 1, 2020
— Sir Yuzvendra (parody) (@SirYuzvendra) February 1, 2020
— Ashutosh Singh (@ashusarcastic) February 1, 2020
— Nirmala Tai Halwe wali (@Vishj05) February 1, 2020
— Siddharth Patni (@aageSeLeftLelo) February 1, 2020
— VJ (@CA_Hemwani) February 1, 2020
A friend just said “budget chaahe jaisa marzi aa jaye, hum month end tak gareeb ho hi jaayenge”, and it hit me hard. #BudgetSession2020
— Pakchikpak Raja Babu (@HaramiParindey) February 1, 2020
People : Is bar ka #Budget2020 Middle class wala hoga !!
Nirmala : pic.twitter.com/IUiK97hcTg
— Sourabh 🇮🇳 (@SourabhJainIET) February 1, 2020
— HOLLA! (@AshokaHolla) February 1, 2020
When tax Rates and you realise
Gets Reduced no deduction will
Be allowed as well pic.twitter.com/4XjvY05Au6
— CUagain (@RECinaction) February 1, 2020
— अंकित जैन (@indiantweeter) February 1, 2020
— Godman Chikna (@Madan_Chikna) February 1, 2020
— Aishthetic ?? (@Badassgirlll) February 1, 2020
— Megha Mandavia (@MeghaMandaviaET) February 1, 2020
— Mr. Dua (@koolmunddaa) February 1, 2020