LIVE: FM Nirmala Sitharaman presents Union Budget 2020
Amid the economic slowdown, Union Finance Minister Nirmala Sitharaman is presenting the annual budget for the year 2020 on Saturday. This is the second budget of the Narendra Modi government after returning to power in 2019. Ahead of the budget, Sitharaman tabled the Economic Survey in Parliament on Friday. According to the survey report, the growth in the next fiscal year beginning on Apr 1 is predicted at 6 per cent to 6.5%.
Sitharaman gets choked. She quits her budget address midway.
A system to be launched soon, for instant online allotment of PAN on the basis of Aadhaar, without the need for filling any application form
Under Vivad Se Vishwas Scheme, taxpayer to pay only amount of disputed tax, will get complete waiver on interest and penalty, if scheme is availed by March 31, 2020
Registration of charity institutions to be made completely electronic, donations made to be pre-filled in IT return form to claim exemptions for donations easily
Option to be provided to cooperative societies to be taxed at 22% plus 10% surcharge and 4% cess, with no exemptions or deductions
To boost startups, tax burden on employees due to tax on Employee Stock Options to be deferred by five years or till they leave the company or when they sell, whichever is earliest
As per Vivadh Se Vishwas scheme introduced: Nirmala
Dividend distribution tax axed: Nirmala
Rs. 1.5 lakh exemption on home loans: Nirmala
No auditing upto 5 crore turnover: Nirmala
Tax payers can choose new or old reforms: Nirmala
15 pc tax for income over Rs. 15 lakh as the old regime: Nirmala
Those who earn upto 5 lakh will have to pay no taxes: Nirmala
25 pc income tax for income tax payers between Rs. 12.5 to 15 lakhs as opposed to previous 30 pc: Nirmala
20 pc income tax for income tax payers between Rs. 10 to 12.5 lakhs as opposed to previous 30 pc: Nirmala
15 pc income tax for income tax payers between Rs. 7.5 to 10 akhs as opposed to previous 20 pc: Nirmala
10 pc income tax for income tax payers between Rs. 5 to 7.5 lakhs as opposed to previous 20 pc: Nirmala
Income tax rates signficantly reduced for individual tax payers: Nirmala
We took a bold historic step of reducing corporating tax for new companies to 15 pc and existing companies to 22 pc: Nirmala
Fiscal deficit for 2020 is at 3.8% and 3.5% for 2021: Nirmala
We have estimated the nominal growth of GDP for 2020-21 based on trends available to 10 pc: Nirmala
15th Finance Commission gives its first report for 2020-21. I am pleased to announce we have a substantial measures to accept: Nirmala
Government stake in IDBI Bank to be sold: Nirmala
Robust mechanism is in place to monitor all banks so depositors' money is absolutely safe: Nirmala
Ease of living is our goal: Nirmala
We are committed to the Paris Climate Accord: Nirmala
Rs. 2500 crore allocated for tourism promotion: Nirmala
I propose allocation of Rs. 3,150 crore to the Ministry of Culture: Nirmala
Four museums will be renovated across the country: Nirmala
Five Archaeological sites will be set up as iconic sites in Haryana, UP, Assam, Gujarat, Tamil Nadu: Nirmala
Rs. 9500 crore allocated for senior citizens for 2020-21: Nirmala
More than 6 lakh Anganwadi workers have mobile phones: Nirmala
Optical fibre connections through Bharat net will connect 1 lakh gram pachayats by this year: Nirmala
I propose to bring out soon a policy to enable provate sector to build data centre parks throughout the country: Nirmala
Govt harnessed new technologies to ensure direct benefit transfers: Nirmala
New economy based on innovations: Nirmala
Urge all states and UTs to replace conventional energy meteres with smart metres: Nirmala
Propose to provide 1.7 lakh crores for transport infrastructure for 2020-21: Nirmala
Nirvik scheme launched forexport credit disimbursement: Nirmala
I propose to set up investment clearance cell: Nirmala
The government will encourage large hospitals for resident doctors: Nirmala
To meet the shortage of doctors, the government proposes to make hospitals in districts under PPP model: Nirmala
Government through urban local bodies will offer internship to fresh engineers for one year: Nirmala
Students in general stream need their employment opportunities improved: Nirmala
New education policies will be announced soon: Nirmala
Rs. 12,300 crore allocated for Swachh Bharat: Nirmala
58 lakh SHG mobilisied under Deen Dayal Udhapayay scheme: Nirmala
200 lakh tonne fish production by 2022-23: Nirmala
Coverage of artificial insemination to be increased from 30 pc to 70 pc: Nirmala
Dhanya Lakshmi scheme for village women: Nirmala announces
Indian Railways will make kisan trains through PPP model: Nirmala
Our govt will encourage balanced use of all kinds of fertilisers including traditonal and innovative ones: Nirmala
We encourage states to consider 3 model farm laws: Nirmala
Prosperity of farmers can be ensured by making farm practices competitive: Nirmala
Our govt is committed to the goal of doubling farmers' income by 2022: Nirmala
FM recites Kashmiri poem
Nirmala says the budget addresses:
1. Aspirational India where all sections seek better standard of living
2. Economic Development for All
3. Ours shall be a humane soiciety. A caring society
16 lakh new tax payers added: Nirmala
Average houshold now spends 4 pc less owing to GST reduction: Nirmala
GST was a historic tax reform: Nirmala
Nirmala paid homage to late Finance Minister Arun Jaitley.
The budget will boost income: Nirmala
Fundamentals of economy are strong: Nirmala
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