Budget 2020 LIVE Updates

Central budget 2020 live

Budget 2020 Latest update on taxation   Revenue collection stats indicate tax cuts may be off the table    Tax collections in the current fiscal may fall short of targets by as much as Rs 2 trillion on faltering economy, leaving a very little room for Finance Minister Nirmala Sitharaman for offering any meaningful reduction in personal income tax rates. Sources with direct knowledge of the development said income and corporate tax collections are likely to miss FY2020 targets by as much as Rs 1.5 trillion while indirect taxes may fall short by about Rs 50,000 crore on drop in the Goods and Services Tax (GST) in a sluggish economy. Expectations were that Sitharaman, who had in September last year cut corporate tax rates to their lowest to boost economic growth, would announce similar sops for individual taxpayers, but lower than expected tax collections and government's missing disinvestment target by a wide margin would limit her largesse.

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