Finance Minister Piyush Goyal to present Budget today

February 01, 2019 08:41

With the Lok Sabha elections only a few months away, Finance Minister Piyush Goyal will present NDA governments Budget today amidst a lot of hopes and expectations from across the spectrum of society right from the common people to industries.

The Budget, the last financial exercise by Prime Minister Narendra Modi led Central government before the General Elections, will be presented in the Lok Sabha by Finance Minister Goyal on Friday at 11 am.

If some relief in income tax exemption to the salaried and middle-class people is expected, there is a hope that the Central government may come out with some concrete measures to combat the problem of unemployment, which rose to 45-year high during 2017-18 as per the assessment of the National Sample Survey Office.

At present, there is an exemption from paying personal tax on an income up to Rs 2.5 lakh, while income between Rs 2.5 lakh and Rs 5 lakh attracts five per cent tax. A 20 per cent tax is levied on the income in the range of Rs 5 lakh to Rs 10 lakh. An individuals income above Rs 10 lakh is taxed at 30 per cent.

Prime Minister Narendra Modi, while addressing the all-party meeting on Thursday, said the governments focus lies on finding solutions to problems of people.

The country expects from all of us to perform our duties as Parliamentarians in a positive manner and we must deliver to the expectations of the people, he said as the Interim Budget session began on Thursday with President Ram Nath Kovinds address to both the Houses of Parliament in the Central Hall.

-- ANI

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