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Gold Price Today: On one side of the budget, while most government stocks fell, gold prices reached the sky. On the budget day, gold futures reached an all time high of Rs 83,360 per 10 grams. The April delivery gold contract on the Multi Commodity Exchange (MCX) touched a record level of Rs 83,360 per 10 grams in early trade.
However, it later declined a bit and it was trading at Rs 82,233 per 10 grams with a gain of Rs 1,127 (1.35 per cent). In this contract, an open interest of 16,273 lots was recorded. At the same time, when we talk about the last trading day, gold was Rs 82,233 per 10 grams on this day. The price of silver also increased by Rs 1,150 and reached Rs 94,150 per kg. Whereas, talking about the previous day, silver was at Rs 93,000 per kg on this day.
What were the big announcements in the budget
Relief in income tax
There will be no tax on annual income up to Rs 12 lakh. Apart from this, 20 percent tax will be levied on income of 16 to 20 lakh rupees and 25 percent on 20 to 24 lakh rupees.
Plans for farmers
The limit of Kisan Credit Card (KCC) has been increased from Rs 3 lakh to Rs 5 lakh. The announcement of “Pradhan Mantri Dhan Dhanya Krishi Yojana”, under which farmers with low yields will be assisted in 100 districts.
Support for small industries
Special credit card scheme for small industries, in which 10 lakh cards will be issued in the first year. The loan guarantee cover for MSME will be increased from 5 crores to 10 crore.
Improvement in education sector
75,000 seats will be increased in medical education in the next 5 years. Broadband connectivity will be provided to all government secondary schools and primary health centers.
Investment in health sector
A plan to establish ‘day care’ cancer centers in all district hospitals, in which 200 centers will be set up in the first year.
Growth in infrastructure
The government has promised to invest more on the infrastructure, which will promote development and employment generation.
Special plans
Special schemes have been announced under Make in India to promote the toy industry. The formation of Makhana Board in Bihar, which will benefit small farmers and traders.
Also read: PSU fell … but these 10 stocks became rocket after the budget, made rich in a single day
