Key highlights and takeaways from the Indian Union Budget 2019

The Union Budget for the year 2019-20 was presented by the newly elected Finance Minister Nirmala Sitharaman at Parliament. This was the first full-fledged budget by Prime Minister Narendra Modi-led National Democratic Alliance (NDA) government after coming to power with a landslide victory.

Finance Minister Nirmala Sitharaman hiked the income tax of individuals earning more than Rs 2 crore annually to help government in recapitalizing banks and small businesses. She announced a slew of new income tax proposals that is likely to impact many taxpayers. In India, there is a large section of…