Budget 2019: What Modi, Rahul did in Lok Sabha during speech

NEW DELHI: Finance minister Piyush Goyal's announcement of a tax rebate on income up to Rs 5 lakh drew huge applause from the treasury benches in the Lok Sabha on Friday.

In his Budget speech, Goyal said annual income up to Rs 5 lakh will be tax-free for individual taxpayers. Taking into account the Rs 1.50 lakh investment exemption allowed, an individual taxpayer can save tax on annual income of up to Rs 6.5 lakh. Standard Deduction has also been raised from Rs 40,000 to Rs 50,000.

The finance minister's proposal to double the income tax exemption limit to Rs 5 lakh from the next fiscal (tax slabs have not changed), as expected, drew a favourable response from the ruling side, who were seen thumping their desks. Prime Minister Narendra Modi too looked pleased. Along with other senior leaders, he thumped his bench as chants of "Modi, Modi" by BJP members filled the Lok Sabha, even as Goyal paused for almost a minute during the chants.

Not just once, the usual sombre-looking Prime Minister applauded Goyal's speech several times.

In contrast, Congress president Rahul Gandhi looked blank as he listened to the income tax proposals.



Goyal announced various populist measures, including direct cash transfer to farmers, during the course of his speech, all of which were welcomed by a thumping of desks on several occasions.

Goyal also made two references to Bollywood flick 'Uri.' "It was fun watching Uri. There was a lot of josh (energy) in the movie (Uri movie mein jo maza aaya. Jo Josh tha)," Goyal said while mentioning the future agenda. This prompted many members, including law minister Ravi Shankar Prasad to deliver the movie's dialogue "How is the josh".