GOOD, BAD OR UGLY?

Salaried class left with token gain of Rs 17,500 under new tax regime; removal of indexation benefit on sale of old property a big negative; it's ugly for stock market investors/traders due to STT, LTCG hike

Finance Minister Nirmala Sitharaman on Tuesday announced a marginal income tax relief for the middle class, a Rs 2 lakh crore outlay for job creation schemes over the next five years and a spending splurge for states run by parties that are needed to keep BJP in power as she unveiled Modi 3.0 government's first budget after the general elections.

Bharat in focus

With rural distress and unemployment being blamed for BJP losing its majority in Lok Sabha, forcing it to rely on partners to form government, Sitharaman in her seventh straight budget provided Rs 2.66 lakh crore for rural development and maintained spending on long-term infrastructure projects at Rs 11.11 lakh crore to boost economic growth.

Angel tax scrapped

She scrapped the 'angel tax' that was imposed on investors pumping money into startups, cut import duty on mobile phones and key parts to benefit firms like Apple, slashed customs duty on gold and silver to curb smuggling, and made significant changes in capital gains tax.

STT raised