UNION BUDGET 2020

India’s saving rate has declined to 30% by 2018.

By giving tax benefits only if one foregoes exemptions ( such as LIC, NSS, postal savings, PF etc) it will further reduce savings, which in turn will impact investments.

Does this make sense? #Budget2020

— Sanjay Jha (@JhaSanjay) February 1, 2020

How many marks do you give this #Budget2020?@hvgoenka : 14/10
Fantastic, Fantabulous & Farsighted@anandmahindra : 12/10
Detox is continuing, am confident about everything Modiji does@TVMohandasPai : 16/10
This will rebuild New India & bring back Indus Valley Civilization

— Srivatsa (@srivatsayb) February 1, 2020

Personal Income Tax hiked to 3 decade-high at 42.7%, dividends too will now be taxed up to 42.7%. India's tax system has never been so much complicated & confusing! @PMOIndia @narendramodi

— Porinju Veliyath (@porinju) February 1, 2020

Budget 2020

You can take the new lower tax regimes for individuals

But then you cannot take benefit for
1. Sec 80C - PF, ELSS
2. Home Loan Interest
3. NPS
4. Standard Deduction
5. HRA
6. Medical Insurance
7. LTA

And many others!

So choose wisely!

— Nagpal Manoj (@NagpalManoj) February 1, 2020

#Budget2020 instead of providing “something for everyone” does not provide “anything for anyone” -45 year high unemployment, 10 suicides every day due to joblessness, closing businesses, rising price rises fail to attract attention of professors of academy of “Jumla Pakodanomics”

— Jaiveer Shergill (@JaiveerShergill) February 1, 2020