Budget LIVE | Aim is to widen tax net either directly or indirectly: Sitharaman
We wanted to simplify approach to taxation: FM at press meet
“We wanted to simplify the approach to taxation – also for the capital gains. Second, if anything, the average taxation has actually come down when we say it is 12.5 per cent. We have worked out for each of the different asset classes...The point that we brought it down from below the average to 12.5% encourages investment in the markets,” says Sitharaman explaining the 12.5 per cent tax on long-term capital gains.
Copycat Budget, says Kharge
Visionary Budget, says PM Modi
Prime Minister Narendra Modi on Tuesday hailed the Union Budget for its sharp focus on youth, backward sections, women and middle class as also on manufacturing and infrastructure sectors, and asserted that the proposed employment-linked incentive schemes will create crores of new jobs.
"This visionary budget will uplift and empower every stratum of our society, paving the way for a brighter future for all," Modi said in televised remarks on the Union Budget presented by Finance Minister Nirmala Sitharaman.
Modi said the budget was aimed at making the middle class stronger and will provide a new scale to education and skills development.
"The budget has come up with strong plans to empower the tribal society, Dalits and backward classes. This budget will help in ensuring economic participation of women," the prime minister said.
The prime minister said the budget will provide a new path of progress to small traders and MSMES.
CM Nitish's cryptic reply after Centre's 'no' to special status for Bihar
Bihar Chief Minister Nitish Kumar on Tuesday came out with a cryptic response to the Centre's refusal to grant special category status to the state.
Kumar, whose JD (U) is a key ally of the ruling NDA at the Centre, was asked about the Union government's statement in Parliament the day before.
"You will get to know all things slowly, and slowly (sab kuchh dhire dhire jaan jaaiyega)," the longest-serving CM of the state said, in reply to a volley of questions he faced from journalists at the Bihar Assembly.