Budget Headlines

Nirmala Sitharaman's third Budget doubled spending on healthcare, made space for infrastructure and divestment and lifted caps on foreigners investing in its insurance market to help revive an economy bludgeoned by the coronavirus pandemic. Belying expectations, Sitharaman's Budget did not give any income tax relief or made any changes in tax slabs or rates. There was no Covid tax as well. Senior citizens above 75 years of age with only pension and interest income would not be required to file income tax returns. Dalal Street lauded the Budget with the BSE Sensex gaining over 2,000 points.