Knowing Union Budget 2019!
Latest breaking news coming on an upcoming Union Budget 2019, the Narendra #Modi led BJP government may consider revising the tax slab from existing 2.5 lakh to 5 lakhs.
Sources say union government is seriously considering to revise the base tax slab by an increase of 100%. Recently the #government was criticized by opposition parties and some parts of media houses, against the upper limit of INR 8 lakh under the general category reservation bill, 2019. The opposition parties said, the government lacks vision by allowing a quota to someone who earns up to INR 8 lakh per annum but taxing citizen's income above INR 2.5
In a bid to avoid such situation the Bharatiya Janata Party led government is considering to revise the base tax slab. However, as per the information available with CNBC-TV18, the government may not revise the corporate tax rates. Corporate tax applies to only 1% of India's population that control its economy.
Union finance minister Arun Jaitley will be presenting the interim budget of the popular NDA government on 1st February, 2019. Interim budget is the budget presented by the Government in transition. Lok Sabha election is scheduled just before mid 2019. A vote will be taken on the interim budget and the full fledge budget will be presented by Government elect after elections. Remind you, this will be Jaitley's first budget after implementation of GST regime and the last under PM Narendra Modi before elections.
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