On budget day, Gold futures hit an all-time high of ₹83,360 per 10 gram
Gold price today: On the previous day, gold had closed at ₹82, 233 per 10 grams.
Gold price today: Gold prices on Saturday reached ₹83,360 per 10 grams in futures trade in line with firm global trends, PTI reported.
On the Multi Commodity Exchange, gold contracts for April delivery hit a record high of ₹83,360 per 10 grams in early trade.
The contract later pared some gains to trade ₹1,127 or 1.35 per cent higher at ₹82,233 per 10 grams with an open interest of 16,273 lots, according to PTI.
On the previous day, gold had closed at ₹82, 233 per 10 grams.
Meanwhile, silver surged by ₹1,150 to ₹94,150 per kg, up from its previous closing price of ₹93,000 per kg.
Meanwhile, price of silver dropped by ₹73 to ₹93,255 per kg, up from its previous closing price of ₹93,328.00per kg.
Union Budget 2025
Meanwhile, Union finance minister Nirmala Sitharaman on Saturday presented the Union Budget 2025-26, envisaging an expenditure of ₹50,65,345 crore, an increase of 7.4 per cent over the current fiscal.
In a major move, she announced that zero income tax will be levied on ₹12 lakh income under the revised new tax regime.
“No Income Tax payable up to an income of ₹12 Lakh. Slabs and rates being changed across the board to benefit all tax-payers,” the FM told the Parliament.
She further added: "...I propose to revise tax rate structures as follows: 0 to ₹4 Lakhs - nil, ₹4 Lakhs to ₹8 Lakhs - 5%, ₹8 Lakhs to ₹12 Lakhs - 10%, ₹12 Lakhs to ₹16 Lakhs - 15%, ₹16 Lakhs to ₹20 Lakhs - 20%, ₹20 Lakhs to ₹24 Lakhs - 25% and above ₹24 Lakhs - 30%. To taxpayers up to ₹12 Lakhs of normal income other than special rate income such as capital gains, tax rebate is being provided in addition to the benefit due to slab rate reduction in such a manner that there is no tax payable by them..."
Sitharaman also said that the government will be introducing a new Income Tax (I-T) bill in Parliament next week.
