India, July 5 -- Union Finance Minister Nirmala Sitharaman on Friday presented the first budget of the Narendra Modi 2.0 government in the Lok Sabha. In the Union Budget 2019-20, she announced that budget aims 'Mazboot Desh Ke Liye Mazboot Nagrik' (Strong country, Strong Citizen) and to revive economic growth through higher investments. The Finance Minister hiked tax on petrol and diesel, raised import duty on gold, levied an additional surcharge on super rich and brought a tax on high-value cash withdrawals.

According to budget announcements, the super-rich people have to pay more and there is no change in the lower income tax slab. She announced a 3 per cent increase in Income tax for those earning Rs 2-5 crore and 7 per cent for incom...