Top news of the day, February 1, 2020

Here's a roundup of top stories from the world of politics, business, sports, and entertainment, which grabbed the spotlight and trended the most on various social media platforms on February 1.

1) Budget 2020: New income tax regime and exemptions

New Delhi: Finance Minister Nirmala Sitharaman on Saturday (February 1) proposed to simplify the Income-Tax law while presenting the Union Budget 2020-21 in Parliament to provide relief to individual taxpayers. The new and simplified personal income tax regime wherein income tax rates will be significantly reduced for the individual taxpayers who forgo certain deductions and exemptions. 

Sitharaman said, “The new tax regime shall be optional for the taxpayers,” adding that an individual who is currently availing more deductions and exemptions under the Income Tax Act may choose to avail them and continue to pay tax in the old regime. (READ STORY HERE)

2) Budget 2020: Defence budget increased by 6% to Rs 3.37 lakh crore from Rs 3.19 lakh crore

Union Finance Minister Nirmala Sitharaman on Saturday (February 1) delivered her Budget 2020 and announced that the Centre has decided to increase the defence budget by six per cent to Rs 3.37 lakh crore against Rs 3.19 lakh crore, which was allocated in 2019 Budget.

The defence pension budget has been increased up to Rs 1.33 lakh crore from Rs 1.17 lakh crore allocated in 2019. It is to be noted that the increase in the defence pension budget is more than that given in revenue and capital funds for defence. (READ STORY HERE)

3) Union Budget 2020: Cigarettes, tobacco, footwear costlier; imported newsprint, raw sugar, agro products, skimmed milk cheaper

NEW DELHI: Union Finance Minister Nirmala Sitharaman on Saturday (February 1) presented the Union Budget 2020 in Parliament announcing a big relief to individual taxpayers as income tax rates were slashed with some riders. In her budget speech, Sitharaman said, ''Exemptions from customs duty has been given in public interest from time to time. On review, some exemptions are being withdrawn. Rest will be reviewed after September 2020.''

After the introduction of new tax slabs and withdrawal of customs duty exemption from various products, here's what got cheaper and what will cost more to the common public after the Budget 2020-21. (READ STORY HERE)

4) Nirmala Sitharaman's Budget 2020 at a glance: Here's how Centre earns Re 1 and spends it

Union Finance Minister Nirmala Sitharaman on Saturday presented her second Union Budget that focussed towards boosting India's economic growth and maintaining the fiscal disciple. Sitharaman, 60, broke her own record of a 2-hour-17- minute-long maiden Budget speech in July 2019. This was the longest Budget speech by any finance minister. 

Budget at a Glance presents broad aggregates of the Budget in a reader-friendly document. This document shows receipts and expenditure as well as the Fiscal Deficit (FD), Revenue Deficit (RD), Effective Revenue Deficit (ERD), and the Primary Deficit (PD) of the government. Besides, it presents a pictorial account of sources of receipts, their application, the details of debt and deficit indicators, sources of deficit financing and trends and composition of important budgetary variables through charts and graphs. (READ STORY HERE)

5) Nirbhaya case convicts using law for joyride: Centre to Delhi High Court

NEW DELHI: The Centre on Saturday told the Delhi High Court that the convicts in 2012 Nirbhaya gangrape and murder case were taking the law and the judicial process for a ''joyride.'' This submission was made by Solicitor General Tushar Mehta on behalf of the Centre before the Delhi court.

''Convicts in Nirbhaya case have taken the process of law to "joyride" and are acting in tandem to delay the execution,'' Mehta said. He also lamented that the Nirbhaya gangrape case will go down in the history of India where convicts of the heinous crime are trying the patience of country. (READ STORY HERE)

6) Railway Budget 2020: More Tejas-type trains, bullet train by 2023, Kisan rail and other key facts

NEW DELHI: Union Finance Minister Nirmala Sitharaman on Saturday (February 1) announced several measures aimed at improving the railway infrastructure while delivering her second General Budget in Parliament.

Enlisting the achievements of the Indian Railways within 100 days of assumption of the current government, the Finance Minister proposed the following five measures for optimisation of costs: Setting up a large solar power capacity alongside the rail tracks, on the land owned by the railways;   Four station re-development projects and operation of 150 passenger trains would be done through PPP model; More Tejas type trains will connect iconic tourist destinations; High-speed train between Mumbai to Ahmedabad would be actively pursued; 148-km long Bengaluru Suburban transport project at a cost of Rs 18600 crore, would have fares on metro model. (READ STORY HERE)

7) Clash of titans: It’s Salman Khan’s Radhe vs Akshay Kumar’s Laxmmi Bomb vs Vin Diesel’s Fast and Furious 9 this Eid

New Delhi: Eid 2020 will open on a high note as three much-awaited films will hit the screens on the festival. It’s Salman Khan vs Akshay Kumar vs Vin Diesel at the box office. All the three films are scheduled to release on May 22, 2020.

Like every year, Salman Khan will open the Prabhudeva-directed ‘Radhe’ on Eid while Akshay Kumar will present ‘Laxmmi Bomb’ on the festival. Meanwhile, Hollywood star Vin Diesel’s ‘Fast and Furious 9’ also releases on the same day in English, Hindi, Tamil and Telugu. The trailer of the film hit online on Saturday. (READ STORY HERE)

8) Bill Gates’ daughter Jennifer announces engagement to Egyptian equestrian Nayel Nassar

New Delhi: Jennifer Gates (23), the daughter of Microsoft founder and billionaire philanthropist Bill Gates, will tie the nuptial knot with Egyptian equestrian Nayel Nassar.

In an Instagram post on Thursday, Jennifer said: "Nayel Nassar, you are one of a kind. Absolutely swept me off my feet this past weekend, surprising me in the most meaningful location over one of our many shared passions.” (READ STORY HERE)

9) Hardik Pandya ruled out of India's Test series against New Zealand

Indian all-rounder Hardik Pandya has been ruled out of the upcoming two-match Test series against New Zealand after failing to regain full fitness.

Confirming the news, the Board of Control for Cricket in India (BCCI) revealed that Pandya had recently visited London for a review by spinal surgeon and now, he would be under rehabilitation at the National Cricket Academy until he regains full fitness. (READ STORY HERE)

10) Team India fined for maintaining slow over-rate in fourth New Zealand T20I

India have been fined 40 per cent of their match fee for maintaining a slow over-rate against New Zealand in the fourth Twenty20 International of the five-match series at Sky Stadium in Wellington on Friday.

Chris Broad of the Emirates International Cricket Council (ICC) Elite Panel of Match Referees imposed the sanctions after Virat Kohli’s side was ruled to be two overs short of the target after time allowances were taken into consideration. (READ STORY HERE)