The combined total wealth of 63 Indian billionaires is higher than the total Union Budget for fiscal year 2018-19 which was at Rs 24.42 lakh crore, according to a new report from Oxfam released on Monday ahead of the World Economic Forum (WEF) annual meeting here.
With an economy in disarray, the budget highlights an effort to rack up resources and tackle the fiscal deficit by hiking taxes – and it squeezes the honest salaried taxpayer.
Using cricketing analogies to criticize the Union Budget, Congress leader Shashi Tharoor on Monday stated that the financial statement had unnecessary defensive strokes, dropped catches and was marred with no-balls instead of bold boundaries.
The direct tax revenue has significantly increased by over 78 per cent from Rs 6.38 lakh crore in 2013-14 to about Rs 11.37 lakh crore in last five years, Finance Minister Nirmala Sitharaman said on Friday.
Union Finance Minister Nirmala Sitharaman presented the budget for 2019-2020 in the national capital today. While addressing at the Lok Sabha, Nirmala Sitharaman said, The recent election was charged with brimming home and desire for a bright and stable ‘New India’.