Union Budget 2024: Sensex Falls More Than 500 Points in Reaction to Budget Announcement | ABP News

In her budget speech, Finance Minister Nirmala Sitharaman unveiled a major reform in income tax, offering significant relief to the middle class. The new tax regime raises the standard deduction from ₹50,000 to ₹75,000, which is expected to lower taxable income and increase savings for many taxpayers. Despite this, the budget announcement negatively affected the stock markets. After the budget presentation, there was a notable decline in stock market indices, with the Sensex dropping by more than 500 points. This decline reflects the market's response to the newly introduced tax measures and other budgetary changes. Stay tuned for the latest updates only on ABP News.