However, the highly anticipated change in income tax slab was not introduced by finance minister.
Arun Jaitley listed 'nine pillars' including tax reforms, promoting ease of doing business and ensuring fiscal discipline, that will transform India.
Unveiling the Budget 2016-17, he said the pillars also include emphasis on governance reforms. The government, Jaitley said, will also focus on infrastructure investment, financial sector reforms, fiscal discipline and tax reforms to reduce compliance burden.
Here is how people reacted over social media:
Markets in green now, will RBI cut rates in the next couple of days since gov't has stuck to fiscal consolidation plan? #Budget2016— Krishna Merchant (@KrishnaMerchant) February 29, 2016
So I applaud the focus on farmers from the start. And particularly, not just on handouts but on rural infrastructure,irrigation,insurance— anand mahindra (@anandmahindra) February 29, 2016
Subsidy to take LPG to BPL families a brilliant move. It will also do more to cleanse our air than any odd-even Tamasha/tokenism #Budget2016— Shekhar Gupta (@ShekharGupta) February 29, 2016
This the most political budget speech in yrs yet. Tone echoes a hard Agro-povertarian swing. The govt seems losing nerve early #Budget2016— Shekhar Gupta (@ShekharGupta) February 29, 2016
Leaving out beedis from increases taxes on tobacco is big nonsensical decision— loner (@sane_voices) February 29, 2016
just because BJP MPs & netas are beedi barons?#Budget2016
Guess opposition leaders busy chatting rather than listening because they're planning to oppose, say bad #Budget2016 regardless of details?— Tanvi Madan (@tanvi_madan) February 29, 2016
Yo! Makes the names of these schemes more friendly. It's frustrating to hear really long, insert name of national leader, yojana #Budget2016— Priya Ravichandran (@binaryfootprint) February 29, 2016
100 CRORE RUPEES for anniversary of Deen Dayal Upadhyay and Guru Gobind commemoration. Fancy parties planned? #Budget2016— Rishika Baruah (@rishika625) February 29, 2016
Govt has nothing left for the middle class, not even cigarettes, bidi only to live upon plus Rs. 250/month. Perfect with my DP. #Budget2016— শুভজিৎ ভাওয়াল (@BhawalSubhajit) February 29, 2016
All smokers upset with hike in tax on tobacco products should switch to taxfree. Bidis. #Budget2016— Sumit (@_RKSumit) February 29, 2016
Cars, tobacco, alcohol, gold, diamond, costlier but no change in income tax slab #Budget2016— Amit.A (@Amit_smiling) February 29, 2016