We Bring You Budget 2020 Live Updates and Budget 2020 Highlights with Detailed Analysis. Every Important Points of Budget 2020 in Simple Words for Current Affairs, Budget Updates 2020, Budget 2020 India, Budget 2020 Important takeaways.
BUDGET HIGHLIGHTS 2020
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FM NIRMALA SITHARAMAN SAYS;
INCOME TAX REDUCTION and CORPORATE TAX and DEFENCE
- Custom duty raised on footwear and furniture
- Excise duty Hiked by way of national calamity contingent duty on cigarettes, tobacco products
- Customs duty on import of newsprint, light weight coated paper reduced to 5% from 10% earlier
- Customs duty on tableware/kitchenware made of porcelain or China ceramic, clay iron, steel, copper doubled to 20%.
- The defence pension budget goes up to Rs 1.33 lakh crore from Rs 1.17 lakh crore last year.
- Simplified GST Returns to be implemented, New GST System from April
- AADHAR Linked Deduction
- Amendment to Provision of Income Tax Act Proposed
- Instant PAN CARD Through AADHAR(For Individuals)
- Rs 1.5 lakh tax benefit on interest paid on affordable housing loans to March 2021
- In a boost to MSMSEs, turnover threshold for audit raised to Rs 5 crore from Rs 1 crore
- New Scheme for Tax Litigation
- 100% tax concession to sovereign wealth funds on investment in infra projects
- Concessional tax rate of 15% extended to power generation companies
- Affordable Housing – Tax Holiday Extended by 1 Year
- Affordable Housing – Extended till 2021
- A person earning Rs 15 lakh per anum and not availing any deductions will now pay Rs 1.95 lakh tax in place of Rs 2.73 lakh
- 5 Years Tax Holiday for Start Ups
- 25 Cr to 100 Cr for Start ups
- DDT Removed (Dividend Distribution Tax)- To Help MSMEs
- 30% on income above Rs 15 lakh will be continued
- 15% Income Tax for 7.5 to 10 Lakh Income Group
- 10% Income Tax for 5 to 7.5 Lakh Income
- No Income Tax upto Rs.5 Lac
- Tax Relief for Middle Class
OTHER TAKEAWAYS –
- 5 Lakh MSMEs Benifitted
- Factor Regulation Act to be Amended for MSMEs
- Scheme Sub ordinate Debt Introduced for MSMEs
- Rezig in Co-operative Banks Laws
- Insurance Cover for Each Depositors Increased from 1 Lac to 5 Lac
- Robust Mechanism in place for All Commercial Banks, Good News for Depositors as Their Deposit Money is Safe
- 30757 Cr for J&K Development
- 5958 Cr for Ladakh
- 100 Cr for G20 Preparation
- India will Host G20 Presidency in Year 2022
- Companies Act to be Am mended
- National Recruitment AGENCY to be Setup – For Recruitment to Non-Gazetted Posts, for Banks and likes
- Tax Payer Charter Law – No Tax Harassment
- Ease of Doing Business
- Ease of Living for All Citizens
- Corruption Free Clean Govt
CULTURE and TOURISM, Environment and Climate Change
- Wealth Creators must be Respected – FM
- 4400 Cr for 2020-2021 for Environment Related Measures
- Clean Air for Large city – Incentives for State Govt
- From 1st Jan 2021, Start of Climate change Measures
- 2500 Cr for Tourism
- Specified Grants for States
- 3550 Cr for Ministry of Culture for 2021
- Maritime Musium
- Tribal Museum in Jharkhand
- 5 Archaeological Sites to be Developed
- Rakhighadi, Hastinapur(UP), Shiv Sagar, Dolabira, Adichenlur(TN)
WOMEN, CHILD Welfare, SC, ST, Senior Citizens and Divyang
- 9500 Cr for Senior Citizens and Divyang
- 53,700 Cr. for ST(Schedule Tribe)
- 85000 Cr for SC and Other Backward Classes
- 35000 Cr for Nutrition Scheme
- No Manual Cleaning for Safety Tanks and Sewage
- Beti Bachao Beti Padao – Gross Enrollment Ratio of Girls Higher than Boys
ECONOMICS
- 8000 Cr National Mission for Quantum Technology
- 6000 Cr for Bharat Net Program 2021 for1 Lac Optical Fiber Program to connect villeges
- Data Center Park throughout the Country-All Public Institutions will be connected
- Pre-Paid Smart Meters by 2023 for Electricity
- To Expand GAS Corridor
- 1.7 Lac Crore for Transport Infrastructure by 2021
- 100 More Airports by 2024 under UDAAN Scheme
RAILWAY
- 18600 Cr. for Bangalore Urban Rail Project
- More TEJAS Type Trains for Tourism
- Setting up large solar power capacity alongside Rail Tracks, Land owner by Railways
- Automated Level crossings
- wifi on Railway Stations
ECONOMICS
- Chennai – Bangalore Expressway
- DELHI – Mumbai Expressway by 2022
- Rs. 100 Lac Crore for Infrastructure
- 27300 Cr for Development and Promotion of Industry & Commerce for 2020-2021
- NIRVIK Scheme Launched – For Higher Insurance cover, Proposed to digitally Duty refund to exporters
- National Technical Textile Mission proposed with 1480 Crore for 4 Years Period.
- Scheme to Boost Manufacturing Sector
- 5 New Smart Cities Proposed
- Entrepreneurship is India’s Strength – Focus on Them
EDUCATION
- 3000 Crore for Skill Developments
- 99, 300 Crore for Education Sector
- Medical Colleges in District Hospitals
- Degree Level Online Program
- STUDY in INDIA Program
- New Education PLAN to be Implemented soon
- Intenship Program for Fresh Engineers
- FDI in Education Sector
HEALTH SECTOR
- 12300 Crore for Swachh Bharat Mission
- 69,000 Crore for PM Arogya Mission
- Aim to END TB by 2025
- More Hospitals to be Setup in coming Years.
ON AGRICULTURE –
- 3.6 Lakh Crore for Jaljeevan Mission
- 2.83 Crore for Agri Sector
- 58 Lakh SHG mobilezed, Further Expansion of this Proposed under Deendayal Upadhyan Scheem
- SAGAR MITRA – FISH Farmers
- 108 Metric Ton Milk Production by 2021
- Kisan Credit Card Proposed for Farmers
- Blue Economics – Marine Fishery
- NABARD Scheme to Further Expanded
- 0 Budget Natural Farming
- Krisi Udaan and Kissan Rail to be launched to help North east and Tribal Districts
- Map and GEO Tag of Farmer Warehouses
- Solar Pumps for 20 Lakh Farmers
- To Help 15 Lakh Farmers for Solar Panel Power Generation
- 16 points to focused ACTION PLAN Agricultural Growth
- Doubling Farmers income by 2022
Humare watan Khilte hue shalimar baag jaise, Humare watan dal lake mein khilte hue kamal jaise, nau-jawanon ke garam khun jaisa, mera watan , tera watan, humara watan, dunia ka sabse pyara watan.
Shayari By FM
- FDI Grew by 284 Billion Dollar
- India is 5th Largest Economy of the World
- 16 Lakh New Taxpayers added
- Annual Household Savings Rs.4000 Crore due to GST
- Inspector Raj has Ended – Claims FM
- Sitharaman Pays homage to former FM Late Arun Jaitley
- This Budget Aims to fulfill aspirations of all section – FM
- FM Sitharaman Started Budget Speech in Parliament
- Lok Sabha speaker Om Birla Enters the Parliament
- Pre Budget Cabinet Meet underway.
- Next – Sitharaman to Meet President Ramnath Kovind before presenting the Budget
- Like Last Year, This year also No Briefcase, It’s “Bahi-Khata” again.
- Finance Minister Nirmala Sitharaman Reaches Ministry of Finance
What’s For You in This Budget 2020?
What’s For The farmers in Budget 2020?
What’s For The Middle Class in Budget 2020?
What’s For The Poor in Budget 2020?
What’s For The Corporate Sectors in Budget 2020?
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