Budget 20 19: Govt cuts FY20 fiscal deficit target to 3.3% of GDP

- Sitharaman proposes to bringing down fiscal deficit target to 3.3% of GDP in 2019-20 instead of 3.4% of GDP envisioned earlier
- Increase in income tax surcharge on those earning ₹2-5 crore by 3% and 7% on those earning above ₹5 crore will also garner additional revenue for the government