New Delhi [India], Feb 1 (ANI): Post the presentation of Union Budget proposals for 2018-19 in Parliament on Thursday, the Sensex tanked by 438.79 points. The Nifty also fell as 10 percent Capital Gain Tax was introduced on equity in the Union Budget 2018.
Finance Minister Arun Jaitley announced a reduction in corporate tax for companies with turnover upto Rs. 250 crores to 25 percent.
"Revised fiscal deficit estimate for 2017-18 is 3.5 percent of GDP, fiscal deficit of 3.3 percent expected for 2018-19. GST revenue for only 11 months, instead of the usual 12 months, is 21.5 lakh crore. Tax buoyancy for 2017-18 is at 2.11 percent. Number of tax payers has increased from 6.47 lakh crores to 8.27 lakh crores," Arun Jaitley announced in his Budget speech.
The minister announced the disinvestment target at Rs. 80,000 crore for FY19.