Published 20:34 IST, February 1st 2020
Union Budget 2020 triggers 'Middle class' memes on social media
Finance Minister Nirmala Sitharaman presented Union Budget for the fiscal year 2020-21 on February 1 in Lok Sabha which triggered memes on social media.
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Finance Minister Nirmala Sitharaman presented the Union Budget for the fiscal year 2020-21 on February 1 in Lok Sabha. For individual taxpayers in India, Union Minister provided a tax relief by proposing a new income tax regime with reduced rates. She proposed new tax slabs of 15 per cent and 25 per cent in addition to the existing 10 per cent, 20 per cent and 30 per cent.
Under the proposed I-T slab, annual income upto Rs 2.5 lakh is exempt from tax. Those individuals earning between Rs 2.5 lakh and Rs 5 lakh will pay 5 per cent tax. Income between Rs 5 and 7.5 lakh will be taxed at 10 per cent, while those between Rs 7.5 and 10 lakh at 15 per cent. Those earning between Rs 10 and 12.5 lakh will pay tax at the rate of 20 per cent, while those between Rs 12.5 and Rs 15 lakh will pay at the rate of 25 per cent. Income above Rs 15 lakh will be taxed at 30 per cent.
Budget 2020 memes
However soon after Sitharaman's speech finished, internet users, flooded Twitter with memes on Budget 2020. While some of the users who were eagerly waiting for the tax rates, mocked the budget, others 'made fun' of middle-class families. The memes on budget varied from how parents react to the announcement while others simply differentiated between commerce and science students.
Middle class reaction after the budget was presented 😨 #BudgetSession2020 #BudgetWithMC #Budget2020 pic.twitter.com/xIuVqwBNLU
— Suraj Jaiswal (@SurajJaiswal___) February 1, 2020
Indian dads watching TV nowadays .#Budget2020 pic.twitter.com/WZ27jjb1nT
— ÀshAy.!! (@fuxk_ass_m) February 1, 2020
#NirmalaSitharaman @theicai
— vini (@Vin18314174) February 1, 2020
You have to forego existing deductions to save tax in order to avail new tax rates...
😭🤦♀️ 😂😂😂😂#BudgetSession2020 #Budget2020 pic.twitter.com/mYK9KtbmI7
Me calculating the income tax I have to pay without working. #Budget2020 pic.twitter.com/O2xxHLOD3j
— Sagar (@sagarcasm) February 1, 2020
My final word on #Budget2020 will be after I listen comments of ace economist #DuggalSahab pic.twitter.com/Yglea3Aj3S
— आशीष (@ashishsharma99) February 1, 2020
#Budget2020 😂😂 pic.twitter.com/uOFe5TQIMz
— Vineeta singh 🇮🇳 (@biharigurl) February 1, 2020
Middle class people searching budget benifits #Budget2020 pic.twitter.com/XALnAqo4pE
— Official Sam (@Official_Sam30) February 1, 2020
While everyone is worried about "kitna tax dena pdega", CA students are worried about kitna naya tax padhna padega. #BudgetSession2020
— Savage_नारी😼 (@atram_shatram) February 1, 2020
Middle class:Is baar humko bumper benefit milega
— Syed_Amaan (@Hazzerdamaan1) February 1, 2020
Govt:#BudgetSession2020#BudgetDay pic.twitter.com/XVELFX50UK
Finance minister to middle class. 🤣🤣#Budget2020 pic.twitter.com/L4QRi1VRit
— Er- Ramkishor kataria (@Ramkishorkatar2) February 1, 2020
In Old tax regime:Tax rates are higher so Exemptions are allowed.
— Abhishekh Jha (@__abhishh__) February 1, 2020
In New tax regime:Tax rates are lowered and so 70 Exemptions will not be allowed.#Budget2020 pic.twitter.com/IvUsJQp0S1
#Budget2020 Middle class people waiting for some benefit from the budget presented by FM. pic.twitter.com/0wwLCx1btB
— Aafia Qureshi (@aafia_qureshi) February 1, 2020
Nirmala Sitharaman simplifying Income tax for the middle class
— Gabbbar (@GabbbarSingh) February 1, 2020
Before After pic.twitter.com/MyMiIkEfEi
*Understanding #Budget2020 *
— Wit मंत्री 🃏 (@Aryaaawn) February 1, 2020
1. For commerce students
2. For science student pic.twitter.com/3LrSsXcx5d
Indians tweeting about #Budget2020 pic.twitter.com/9dnTc2hkUt
— Sakshi (@jalebiwaali) February 1, 2020
20:34 IST, February 1st 2020