As Nirmala Sitharaman on Saturday began presenting the Union Budget 2020-21 in Lok Sabha at 11 am, many eagerly waited for the Finance Minister to announce the tax rates. Under the new tax regime, the government has proposed lower tax rates for those falling in the 5-15 lakh bracket. The tax cut has brought relief to the middle-income group with many taking to social media to express their views. 'Under the new regime, an individual will have to pay 10 per cent tax for income between Rs 5 to 7.5 lakh, down from the previous 20 per cent. 15 per cent tax for 7.5 lakh to Rs 10 lakh income. 25% tax for income between 12.5 lakh to 15 lakh and 30% tax for income above 15 lakh,' said Sitharaman in the Budget presentation today. She further added that there will be no tax for people earning up to Rs 5 lakh. We take a look at what the people of India are reacting to Budget 2020 in this LIVE blog. For more updates, follow our main Budget Live Blog here. When finance Minister Nirmala Sitharaman announced new income tax slabs Middle class people searching budget benifits #Budget2020 pic.twitter.com/XALnAqo4pE — Official Sam (@Official_Sam30) February 1, 2020 1. Indians before budget speech. 2. Indians after budget speech.#Budget2020 pic.twitter.com/4G9WD2BIaQ — Nirmala Tai Halwe wali (@Vishj05) February 1, 2020 While everyone is worried about "kitna tax dena pdega", CA students are worried about kitna naya tax padhna padega. #BudgetSession2020 — Savage_नारी😼 (@atram_shatram) February 1, 2020 Middle class:Is baar humko bumper benefit milega Govt:#BudgetSession2020#BudgetDay pic.twitter.com/XVELFX50UK — Syed_Amaan (@Hazzerdamaan1) February 1, 2020 Netizens respond to Sitharaman's proposal for five new smart cities Finance Minister Sitharaman : Proposed to develop 5 new Smart Friend : Vo 100 smart cities ka kya hua ? Me : #Budget2020 pic.twitter.com/ljCcYSkdZa — Hussعn (@Hussain_asger72) February 1, 2020 "Proposed to develop 5 new Smart Cities: Finance Minister Sitharaman" This is in addition to earlier declared 100 #SmartCities or the target of 100 revised to 5, @nsitharaman? #Budget2020 — arsh (@Feignism) February 1, 2020 Fin Min saying "additional 5 smart cities".. where are those 100 smart cities they were announcing in last few years ??#Budget2020 — गुमनाम (@GumnaamHoo) February 1, 2020 But but what happened to the 100 smart cities. Only 5 ? #Budget2020 — April's fool (@khandegautam) February 1, 2020 After the grand success of 100 smart cities now we introduce 5 more smart cities.🤫#Budget2020 — Vishal ⭕ (@kalikalsarvagna) February 1, 2020 'Kashmir and Kamal in the same sentence,' FM recites poem during budget Kashmir and Kamal in the same sentence. #Budget2020 Nirmala Sitharaman recites a Kashmiri poem. — Bhavani Giddu (@bgiddu) February 1, 2020 Our finance minister is READING A POEM while unveiling the the financial budget of this country for this year 😶😶😶 No wonder we have such slow growth since 72 years of independence#FinanceMinister #BudgetSession2020 #Budget2020 — Sahil Godse (@sahilgodse) February 1, 2020 'Dal Lake mein Kamal ke Phool Jaisa.': Nirmala Sitharaman while translating a Kashmiri verse. #Budget2020 #BudgetWithMC — Nayanika Chakraborty (@nayanika_c) February 1, 2020 "We are now the 5th largest economy." Netizens respond Most of Indians during budget session#BudgetSession2020 #budget #Budget2020 pic.twitter.com/1YpJME8VMB — Pardeep Sachdeva (@sachdevap12) February 1, 2020 If alone I got a rupee for everytime the FM said rural development and doubling farmer income! #Budget2020 — Siddarth (@Sid_dudheria) February 1, 2020 #Budget2020 Middle Class rn: pic.twitter.com/jcRDUvmp3C — رومانا (@RomanaRaza) February 1, 2020 Bollywood inspired memes and GIFs welcome FM Finance minister to middle class. 🤣🤣#Budget2020 pic.twitter.com/L4QRi1VRit — Er- Ramkishor kataria (@Ramkishorkatar2) February 1, 2020 My final word on #Budget2020 will be after I listen comments of ace economist #DuggalSahab pic.twitter.com/Yglea3Aj3S — आशीष (@ashishsharma99) February 1, 2020 Everyone on TL today#Budget2020 pic.twitter.com/VW0cGt91BU — 2.0 (@AlmostCommunal) February 1, 2020 #Budget2020 is arrived.. Le Every Central Ministry's employees.😂😂😂😂🙌🙌🙌#Budget2020 #BudgetSession #BudgetSession2020 pic.twitter.com/X4Vhgnji8q — Vishal Saini (@vishal_saini_vs) February 1, 2020 Hope this puja helps economy improving !!#AnuragThakur #Budget2020 #BudgetSession2020 #BudgetWithCNBCTV18 #Budget #BudgetWithMC #budgetday pic.twitter.com/TSupg7YyYT — Naresh Yadav (@nareshy_) February 1, 2020 #Budget2020 😂😂 pic.twitter.com/uOFe5TQIMz — Vineeta singh 🇮🇳 (@biharigurl) February 1, 2020 #Budget2020 #BudgetSession2020 Dear Finance Minister #NirmalaSitharaman Nirmala Sitharaman ji, Is "Vikas" on the no fly list of Bahi Khata aka Budget 2020? Nation wants to know! pic.twitter.com/SxnPvBOq85 — Einstein 🇮🇳 (@DesiPoliticks) February 1, 2020 Halwa is the secret of Economic growth. #Budget2020 pic.twitter.com/YzENuVF0Xv — Witty (@prettywitty___) February 1, 2020 And the usual ‘bahi khaata’ jokes Yet again, Nirmala Sitharaman ditches the briefcase and carries a ‘bahi khaata’. "Spot the difference," ask netizens while sharing a picture of the Finance Minister ahead of #Budget2020. Bahi khata . Spot The Difference #Budget2020 Spot The Diffrence 😜 2019 2020 pic.twitter.com/zOirqZBV2N — Arun Raj K M (@Arunraj2696) February 1, 2020 A day before the Union Budget, the big idea from the Economic Survey 2019-20 was to increase the number of wealth creators in the Indian economy. The Survey states that to achieve the goal of becoming a $5-trillion economy, the invisible hand of markets will need the support of “the hand of trust”.
