Union Finance Minister Nirmala Sitharaman will present the Union Budget 2021 at 11 AM in Lok Sabha on Monday (February 1).
In a first, the Union Budget 2021 will go paperless as the Finance Ministry has decided against printing the budget documents due to coronavirus outbreak. This is the first time since Independence that the budget will be paperless,
All eyes will be on Sitharaman as crores of people are eagerly waiting for the government’s stance on tax exemption, increasing the rebate cap on home loans, giving subsidies to farmers and several other crucial issues.
The salaried class is expecting that Sitharaman may announce further increase in tax rebate under section 80C and 80D.
In the current slab, a total deduction of Rs 1.5 lakh is allowed on all long term and short term serving instruments, including provident fund, pension funds, and equity linked savings scheme etc. It is widely expected that Union Minister would increase the bracket to Rs 2 lakh. It is…