Budget 2020 triggers meme fest, new income tax slabs had twitter abuzz

Here is how social media responded to the Budget and its many proposals

By: Trends Desk
New Delhi | Updated: February 1, 2020 06:00 PM IST

5 min read

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Budget 2020 Expectations LIVE Updates: We take a look at what the people of India are expecting from the upcoming Budget 2020 in this LIVE blog.

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

https://twitter.com/Vishj05/status/1223505565931855872
https://twitter.com/atram_shatram/status/1223512647812825090

Netizens respond to Sitharaman’s proposal for five new smart cities

https://twitter.com/Feignism/status/1223500953782906883

‘Kashmir and Kamal in the same sentence,’ FM recites poem during budget

“We are now the 5th largest economy…” Netizens respond

https://twitter.com/sachdevap12/status/1223482708791185408

Bollywood inspired memes and GIFs welcome FM

https://twitter.com/Ramkishorkatar2/status/1223468502931034112

https://twitter.com/DesiPoliticks/status/1223467157729751040
https://twitter.com/prettywitty___/status/1223468105369653248

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.

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”.

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