Budget 2020 LIVE Updates:
60) FM: Govt to further ease the process of allotment of PAN. Govt to launch system for instant allotment of PAN on the basis of Aadhaar.
59) FM: Income of charitable institutions fully exempt from taxation; Donation to such institutions allowed as a deduction in computing taxable income of the donor.
58) FM: Concessional corporate tax cuts will extend to new domestic companies engaged in power generation.
57) FM: Dividend Distribution Tax will get removed, companies don't require to pay DDT, the dividend will get taxed only at the hands of recipients at applicable rates.
56)FM: In order to promote affordable housing projects, I propose to extend the date of approval of affordable housing projects for availing tax holiday by one more year.
55) FM: Start-ups are the engine of growth. Propose to increase the turnover limit for startups from Rs 25 crores to 100 crores.
54) FM: Around 70 of more than 100 income tax deductions and exemptions had removed, in order to simplify the tax system and lower tax rates.
53) FM: In this new personal income tax regime, income tax rates will be significantly reduced for the individuals who forgo certain exemptions and deductions.
52) FM: A person earning Rs 15 lakh per annum and not availing any deductions will now pay Rs 1.95 lakh tax in place of Rs 2.73 lakh.
51) FM: In the proposed regime, those with income between Rs 7.5-10 lakhs can pay tax at 15% against the current 20%. Those with income between Rs 10-12.5 lakhs can pay tax at 20% against 30%.
50) FM: We propose to bring a personal income tax regime, where income tax rates will get reduced, so now, the person earning between Rs 5-7.5 lakhs will have to pay tax at 10% against the current 20%.
49)FM: We estimate a fiscal deficit of 3.8% in RE 2019-20 and 3.5% for BE 2020-21.
48) FM: We have estimated the nominal growth of GDP for the year 2020-21 on the trends available, at 10%.
47) FM: The government proposes to sell a part of its holding in LIC by the initial public offer.
46) FM: Deposit Insurance and Credit Guarantee Corporation has been permitted to increase deposit insurance coverage to Rs 5 lakh per depositor from Rs 1 lakh.
45) The robust mechanism is in place to monitor the health of all scheduled commercial banks and depositors money is absolutely safe: FM
44) FM: Government is fully committed to supporting new UTs of J&K and Ladakh; Allocation of Rs 30,757 crores for 2020-21 for Jammu and Kashmir and Rs 5,958 crores for Ladakh.
43) India will host G-20 presidency in the year 2022; Rs 100 crores allocated for preparation: FM
42) India has a firm framework related to contracts act, we aim to strengthen it: FM
41) Propose to set up a national recruitment agency to conduct computer-based online common eligibility test for recruitment to non-gazetted post: FM
40) FM: We wish to enshrine in the statutes a taxpayer charter through this Budget. Our govt remains committed to taking measures to ensure that our taxpayers are free from tax harassment of any kind.
39) FM: Clean air is a matter of concern in large cities, proposes to encourage states to formulate and implement plans to ensure clean air. Allocation for this purpose is Rs 4,400 crores.
38) Indian Institute of Heritage and Culture will get established under the Ministry of Culture: FM
37) I propose to provide Rs 2500 crores for promotion of tourism in the year 2020-21: FM
36) FM: 5 archaeological sites to be developed as iconic sites with on-site museums -Rakhigarhi, Hastinapur, Shivsagar, Dholavira, and Adichanallur.
35) 85,000 crore rupees for Scheduled Castes and Other Backward Classes in 2020-21; 53,700 crore rupees for Scheduled Tribes: FM
34) FM: Enhance allocation of Rs 9500 crores for senior citizens and 'Divyang'.
33) FM: I propose to provide Rs 35600 crores for nutrition-related programs for 2020-21.
32) FM: 'Beti Bachao, Beti Padhao' has yielded tremendous results, gross enrolment ratio of girls across all levels of education now higher than boys.
31) FM: Over 6 lakh Anganwadi workers are equipped with smartphones to upload the nutritional status of more than 10 crore households.
30) FM: 100 more airports to be developed by 2024 to support the Udaan scheme.
29) FM: To soon bring out a policy to enable the private sector to build Data Centre Parks in the country.
28) FM: High-speed train between Mumbai and Ahmedabad will be actively pursued.
27) FM: I propose to provide Rs 22000 crores to the power and renewable energy sector in 2020-21.
26) FM: I propose to provide Rs 1.7 lakh crores for transport infrastructure in 2020-21.
25) FM: Setting up large solar panel capacity alongside the railway tracks on land owned by railways, a proposal is under consideration. More Tejas type trains will connect iconic destinations.
24) FM: The Delhi-Mumbai Expressway will get completed by 2023.
23) FM: I propose to provide Rs 27300 crore for development for industry and commence for the year 2020-21.
22) A degree-level full-fledged online education program to be offered by institutes in top 100 in the National Institutional Ranking Framework: FM
21) Centre to announce a new education policy soon: FM
20) Accelerated development of highways will be undertaken: FM
19) National Textile Mission with Rs. 1480 crores will be set up: FM
18) FM Sitharaman announces the introduction of 'Ind-SAT', an exam for Asian and African countries to help make India a higher education destination.
17) Rs.69,000 crore for Health Sector and Union Govt will do Viability Gap Funding to set up District Level Medical Colleges under Public-Private-Partnership: FM
16) Rs.99,300 crore for education and Rs.3000 crore for Skill Development Schemes: FM
15) They will take steps to deliver higher quality education: FM
14) The total allocation for Swachh Bharat Mission is Rs 12,300 crore in 2020-21: FM
13) Jal Jeevan Mission: Govt will allocate Rs 3.60 lakh crore for this mission: FM
12) A very focused safe water 'Jal Jeevan Mission' and sanitation program 'Swachh Bharat Yojna' had launched to tackle health concerns: FM
11) We shall help 15 lakh farmers solarize their grid-connected pump sets: FM
10) We want to encourage state governments to implement model agricultural laws passed by central government: FM
9) Rs 2.83 lakh crore allocation for agriculture and irrigation: FM
8)40 crore GST returns got filed in this financial year: FM
7)We have added 16 lakh new taxpayers reveals FM
6)GST has integrated the entire nation, says FM
5)I pay homage to Arun Jaitley: FM
4)Fundamentals of the economy are strong: FM
3)For every member of the schedule caste and schedule tribe, for every woman, for every individual from minority section of the society, this budget aims to give wings to your aspirations: FM
2)Let our businesses be innovative, healthy and solvent with use of tech: FM
1)This Budget is to boost the income of people and enhance their purchasing power: FM