The Biggest Stories Of July 5, 2019

Finance Minister Nirmala Sitharaman presented her maiden budget hiking tax on petrol and diesel and raising import duty on gold, while additional surcharge was levied on super rich; All companies having annual turnover of Rs 400 crore will now come under the bracket of 25 per cent corporate tax which means only 0.7 per cent of companies will remain outside this rate; The Centre proposed lowering of GST on electric vehicles, more tax rebate on loan interest and exemption of customs duty on certain parts; The government raised tax deduction limit on interest paid on housing loan and announced reforms to promote rental housing; PM Modi said Budget 2019 is a key step towards New India while the Congress said it was one of the most opaque Budget speeches; In Gujarat, rebel Congress MLA Alpesh Thakore resigned from the state Assembly; all this and more on today's newswrap.