UK businesses, investors react positively to Union Budget
The Union Budget presented by Finance Minister Nirmala Sitharaman in the Lok Sabha has been met with enthusiasm from the UK business and investor community. Key proposals include a fall in the Corporate Tax rate for foreign companies from 40 to 35% and the abolition of the "Angel Tax." Experts believe that the budget's announcements on India's fiscal deficit, estimated at 4.9% of GDP for this financial year, will boost foreign investor sentiment towards the economy.