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New Delhi, Feb 1 () Following are the top business stories at 1842 hours

DEL158 BIZ-2NDLD BUDGET Sitharaman cuts income tax, abolishes DDT; to spend more on agri, infra to boost growth New Delhi: Finance Minister Nirmala Sitharaman on Saturday slashed income tax for individuals, abolished dividend tax for companies and announced record spending in agriculture and infrastructure sectors to pull out the economy from its worst slowdown in more than a decade.

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DEL146 BIZ-LD STOCKS Budget blow for D-St: Sensex sinks 988 pts; Rs 3.46 lakh cr investor wealth wiped off Mumbai: The Sensex logged its biggest single-day plunge in more than a decade on Saturday after the Union Budget failed to live up to market expectations of growth-boosting measures and fiscal discipline.

DEL122 BUD-INDUSTRY-REAX India Inc terms Budget as growth provoking, says implementation crucial New Delhi: India Inc on Saturday termed the Budget as "growth provoking and welfare inducing" but said that urgent implementation of the measures proposed will be crucial for achieving desired outcomes, while acknowledging that Finance Minister Nirmala Sitharaman had "little room" to manoeuvre.

DEL50 BUD-LIC LIC to be listed: Sitharaman New Delhi: Finance Minister Nirmala Sitharaman on Saturday said insurance behemoth LIC will be listed as part of the government disinvestment initiative.

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DEL163 BUD-DEPOSIT-INSURANCE Govt permits five-fold increase in deposit insurance cover to Rs 5 lakh per depositor New Delhi: Finance Minister Nirmala Sitharaman on Saturday said the government has permitted DICGC to raise deposit insurance coverage by five times to Rs 5 lakh. DEL96 BUD-LD DIVIDEND-TAX Govt removes DDT; dividend to be taxed in hands of recipient New Delhi: The government on Saturday proposed to remove dividend distribution tax on companies, and henceforth the tax will be shifted to recipients at the applicable rate.

DEL54 BUD-FPI LIMIT Plan to hike FPI limit in corporate bonds to 15% from 9%: FM New Delhi: The government plans to increase investment limit of foreign portfolio investors (FPI) in corporate bonds from 9 per cent to 15 per cent, Finance Minister Nirmala Sitharaman said on Saturday.

DEL124 BIZ-BUD-LD AGRICULTURE Govt proposes 11pc hike in farm credit for FY21; announces Krishi Udaan & Kisan Rail New Delhi: The government on Saturday proposed 11 per cent increase in the farm credit target to 15 lakh crore for 2020-21 and announced special rail and flight services for the transportation of farm produce as its seeks to double farmers' income by 2022.

DCM86 BUD-DISINVESTMENT Govt pegs Rs 1.20 lakh cr disinvestment mop-up in 2020-21, Rs 65,000 cr in current fiscal New Delhi: The government on Saturday pegged disinvestment target for 2020-21 at Rs 1.20 lakh crore, nearly double of Rs 65,000 crore it expects to raise in the current financial year.

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DEL129 BUD-HOUSING Budget: Additional deduction of Rs 1.5 lakh on home loan interest extended till March 2021 New Delhi: Aiming to boost the affordable housing demand, Finance Minister Nirmala Sitharaman on Saturday proposed to extend the date of availing an additional Rs 1.5 lakh tax deduction on home loan interest by one more year till March 2021.

DEL55 BUD- NOMINAL GDP Nominal GDP growth for FY21 estimated at 10%: Sitharaman New Delhi: Finance Minister Nirmala Sitharaman on Saturday said nominal GDP growth for 2020-21 is estimated at 10 per cent.

DEL147 BIZ-BUD-EXEMONS Taxpayer opting for new tax regime to forego deductions on PF, tuition fee, insurance New Delhi: A taxpayer opting for new income tax slabs and rates will have to forego a host of exemptions and deductions, including a standard deduction of Rs 50,000, tuition fee of children, and contribution towards insurance premium and provident fund.

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DEL37 BUD-AIRPORTS 100 more airports to be developed by 2025 to support UDAN scheme: FM New Delhi: Finance Minister Nirmala Sitharaman on Saturday said 100 more airports will be developed by 2025 to support the UDAN scheme.

DEL94 BUD-RUPEE For every rupee in govt kitty, 64 paise come from taxes New Delhi: For every rupee in the government coffer, 64 paise will come from direct and indirect taxes, while states' share of taxes and duties is the single-largest expense head accounting for 20 per cent of the total spending, Budget documents showed.

DCM79 BUD-LDALL STARTUP FM announces host of steps to boost growth of startups New Delhi: Finance Minister Nirmala Sitharaman on Saturday announced a host of measures including relaxing tax incentives and setting up of investment clearance cell for startups and entrepreneurs with a view to promote their growth. DCM64 BIZ-BUD-G20 Govt allocates Rs 100 cr to host G-20 Presidency in 2022 New Delhi: Finance Minister Nirmala Sitharaman on Saturday said India will host the G-20 Presidency in 2022 and Rs 100 crore has been allocated for this purpose.

DCM90 BUD- LD ALL POWER SECTOR Budget's push for clean air: Old thermal power plants to shut New Delhi: Old coal-fired power plants not meeting emission norms will be closed and their land put to alternative use, Finance Minister Nirmala Sitharaman said on Saturday as she provided Rs 4,400 crore in her Budget for measures to ensure clean air.

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DCM35 BUD-LD MSME Govt raises turnover threshold for audit of MSME accounts to Rs 5 cr New Delhi: The government on Saturday unveiled measures aimed at facilitating growth of the country's micro, small and medium enterprises including raising the turnover threshold for audit of their accounts to Rs 5 crore and a scheme to provide subordinate debt to MSME entrepreneurs.

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(This story has not been edited by Business Insider and is auto-generated from a syndicated feed we subscribe to.)