Following the announcements, gold futures fell more than Rs 900 at 1.84% and is currently trading at Rs 48,430.
He told Money9 that although he feels the Budget scored on most parameters, it does not have anything substantial for startups.
Currently, an individual can invest up to 12% of basic salary (including dearness) in EPFO. But through voluntary contribution, this limit can be increased to 100%.
After touching an intra-day high of 48,641.23, the 30-share Sensex was trading 2,311 points or 4.99 per cent higher at 48,595.25; and the broader Nifty surged 462.15 points or 3.39 per cent at 14,096.75.
PM Narendra Modi said he has not seen so many positive announcements in the first hour of a Budget speech earlier.
Senior citizens over 75 years of age have been exempted from filing income tax returns.
No Income Tax Return (ITR) filing for senior citizens above 75 years having pension and interest income.
The Money9 Budget Conclave in its first panel discussion shared views on how the Finance Minister can help alleviate the woes of the common man.
The Finance Minister's speech will be closely watched as it is being touted as a historic budget.
Benchmark equity indices BSE Sensex and NSE Nifty opened higher on Monday ahead of the Union Budget 2021.