Nirmala Sitharaman presented the annual Budget 2020

in the Parliament 

Saturday,01 February 2020 10:44 AM IST

New Delhi: Union finance minister Nirmala Sitharaman presented to Parliament on Saturday the Annual Budget 2020. She said the budget centered on three themes — India aspirational, economic development for all, and caring for society. The lowering of income tax rates remained the focus of Sitharaman's speech on the budget. Under the new I-T law, those earning between Rs 5 lakh and 7.5 lakh will now pay 10% as personal income tax compared to the 20% that prevails. The government has said it will invest Rs 99,300 crore on skill development among other primary initiatives. She also declared corporate tax cut, and vowed to make India a favoured investment destination.