Sensex jumps over 1,200 points post Budget announcements

Sensex jumps over 1,200 points after Finance minister Nirmala sitharaman announced Budget 2023 in the Lok Sabha.
Benchmark BSE Sensex zoomed over 1,200 points in the afternoon trade on Wednesday. The 30-share BSE barometer zoomed 1,223.54 points or 2 per cent to its intra-day high of 60,773.44.

The broader NSE Nifty jumped 310.05 points or 1.75 per cent to 17,972.20. Finance Minister Nirmala Sitharaman on Wednesday announced the slabs to provide some relief to the middle class by announcing that no tax would be levied on annual income of up to Rs 7 lakh under the new tax regime. She also allowed a Rs 50,000 standard deduction to taxpayers under the new regime, where assessees cannot claim deductions or exemptions on their investments.