Tax Cuts, Other Big Announcements In Budget; 2nd Shooting At Anti-CAA Protest In Delhi

On the front page, Hindustan Times gives an overview of big announcements in Finance Minister Nirmala Sitharaman's Union Budget 2020 speech on Saturday. The Finance Minister unveiled new tax regime for the individuals earning up to Rs 15 lakh a year and are willing to give up certain tax exemptions. She also abolished payment of dividend distribution tax (DDT) by companies to spur investment. Another important story on the front page is shooting incident at Delhi's Shaheen Bagh, second in the last few days at an anti-CAA protest.

To meet its divestment target, which has been increased from Rs 1.05 lakh crore in current financial year, to a record Rs 2.1 lakh crore, the government has planned to sell a part of its holding in state-run Life Insurance Corp (LIC), the country's biggest insurance company, Finance Minister Nirmala Sitharaman announced on Saturday. Rs 90,000 crore will be achieved via stake sales in state-owned banks and financial institutions, Ms Sitharaman said.

"Blank Bullets", "Diabolic Bullets" are the two important stories of the daily that cover Budget 2020 and Shaheen Bagh shooting. "Spend plan and tax rejig fail to calm crisis nerves," reports Telegraph on Budget 2020.

While presenting her Budget speech in Lok Sabha, Finance Minister Nirmala Sitharaman announced that the central government has set Rs 15 lakh crore as credit target for agriculture, Deccan Herald reports. The refinancing scheme of the National Bank for Agriculture and Rural Development (NABARD) will be further expanded, she added.