Sensex slides as FM Nirmala Sitharaman spells out Union Budget 2020
Mumbai/IBNS: The Bombay Stock Exchange (BSE) Sensex is witnessing a steep fall as Union Finance Minister Nirmala Sitharaman is reading out the annual budget for 2020 in Parliament on Saturday.
As per latest report, Sensex is down by close to 600 points while NIFTY is down by over 150 points.
In one of the major highlights of the budget, Sitharaman introduced a major cut in the individual tax regime.
As per the new regime, 0 per cent tax will be charged on income upto Rs. 5 lakhs; 10 per cent on Rs. 5-7.5 lakhs; 15 per cent on Rs. 7.5-10 lakhs; 20 per cent on Rs. 10-12.5 lakhs; 25 per cent on Rs. 12.5-15 lakhs and 30 per cent on above Rs. 15 lakhs.
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