Know key takeaways of Union Budget 2020

Know key takeaways of Union Budget 2020 -vsc

Nirmala Sitaraman presents 2020 Budget proposals

Banner Ad

 Key takeaways in Budget 2020

GST most historic economic reform

GST has integrated India economically

16 lakh new taxpayers added

$284 billion FDI between 2014-2019

Want to extend ease of living for every citizen

India is now the fifth-largest economy 

Know key takeaways of Union Budget 2020 -vsc
Know key takeaways of Union Budget 2020 -vsc

This budget has 3 prominent themes

Aspirational India, Economic development and caring society

 

16 action points for Agri sector

Measures for 100 water critical districts

20 lakh farmers to set up solar pumps

Solar power generation units on barren land

Balanced use of all kinds of fertilisers

Village storage scheme proposed for farmers

Dhanya Lakshmi scheme for village women

Krishi Udaan will be launched by Civil Aviation

One product one district for Horticulture

Zero budget National farming proposed

Nabard Refinance scheme to be expanded

Kisan credit card scheme proposed

108 metric ton milk production by 2021

200 lakh tonne fish production by 2022-23

2.83 lakh crore allocation for the farm action plan

Know key takeaways of Union Budget 2020 -vsc
Know key takeaways of Union Budget 2020 -vsc

Income Tax 

The Income Tax rates have been revised

Annual income up to 2.5 lakhs exempt from tax

Individuals earning between 2.5 lakhs to 5 lakhs will pay 5 per cent tax 

Individuals earning between 5 lakhs to 7.5 lakhs will pay 10 per cent tax 

Individuals earning between 7.5 lakhs to 10 lakhs will pay 15 per cent tax 

Individuals earning between 10 lakhs to 12.5 lakhs will pay 20 per cent tax

Individuals earning between 12.5 lakhs to 15 lakhs will pay 25 per cent tax

Income above 15 lakhs will be taxed 30 per cent

 

Health care: 690 billion will be spent

 

Transport: 100 more airports planned by 2024, 6k km of highways, one major airport will be privatised.

 

Manufacturing: Schemes that encourage the manufacture of mobile phones, electronic items and semi conducted packaging will be introduced.

Private sector to build data centre parks throughout the country will be encouraged. 

80 billion rupees over five years to be provided for applications

 

Banking: Insurance cover for bank depositors to be raised to 5 lakhs from one lakh

 

Infrastructure: five new smart cities

Delhi-Mumbai expressway to be completed by 2023

100 more airports to be developed by 2024

 

Leave a Reply

Your email address will not be published. Required fields are marked *