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Union Budget 2020

February 01, 2020

2020 Union budget of India

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Hon'ble Finance Minister Nirmala Sitharaman Presented Union Budget

BUDGET - Live Commentary

  • 13:46 FM Nirmala Sitharaman concludes speech
  • 13:45 FM announces health cess on import of medical equipment
  • 13:44 Custom duty raised on footwear and furniture: FM Sitharaman
  • 13:43 Nirmala Sitharaman tables Union Budget 2020-2021
  • 13:41 Now, we not only manufacture medical equipment, but also export it - FM
  • 13:41 Make in India has started giving dividends - FM
  • 13:40 It has been observed that imports under the Free Trade Agreements on the rise - FM
  • 13:40 NBFCs can now be a part of TReDS, subordinate debt available for MSMEs : FM
  • 13:40 We have made considerable progress in medical equipment, committed to provide health care to all: FM
  • 13:37 Income Tax Act to be amended to allow faceless appeals against tax orders on lines of faceless assessment: FM
  • 13:36 Instant PAN based on Aadhaar proposed. : FM
  • 13:35 Aadhaar-based verification for GST compliance to be introduced to identify dummies. : FM
  • 13:34 Vivad Se Vishwas scheme for tax litigations under which, only disputed tax amount will need to paid on or before March 31, 2020. No interest or penalty will be charged. : FM
  • 13:33 In a boost to MSMSEs, turnover threshold for audit raised to Rs 5 crore from Rs 1 crore: FM
  • 13:33 Concession for real estate transactions: FM
  • 13:32 Date of approval of affordable housing projects for availing tax holiday on profit earned by developers extended by 1 year: FM
  • 13:31 Lowest, simplest, smoothest: Sitharaman on the new tax regimes
  • 13:30 A scheme to bring down litigation in direct taxation scheme
  • 13:29 To boost Housing for all! Additional Rs 1.5 lakh tax benefit on affordable housing loans
  • 13:28 Tax on Co-op societies to be reduced to 22% plus surcharge, as against current 30%
  • 13:28 Govt proposes deferment of tax payment by employees on ESOPs from startups by 5 years : FM
  • 13:27 New power generation companies to be taxed at 15%
  • 13:27 Plan to hike FPI limit in corporate bonds to 15% from 9%: FM Nirmala Sitharaman
  • 13:26 FM makes housing more affordable, gives tax holiday to affordable housing developers
  • 13:26 With DDT scrapping, govt lets go of Rs 25,000 crore revenue
  • 13:25 Concessional withholding rate of 5% on interest payment to non-residents extended up to June 30, 2022: FM
  • 13:25 New simplified personal income tax regime : FM
  • 13:24 New income tax rates will be optional, says FM
  • 13:23 Income tax rates will be significantly reduced for those who forego reliefs, exemptions
  • 13:23 Startup ESOP deferred, says FM
  • 13:22 Govt proposes 100 per cent tax concession to sovereign wealth funds on investment in infra projects: FM
  • 13:21 Corporate tax cut will be available for power generation companies as well: FM
  • 13:20 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: FM
  • 13:20 Rs 40,000 crore per annum will be revenue foregone from new income tax rates for individuals, says FM
  • 13:19 More than 100 deductions provided currently under I-T Act. Proposal is to remove 70 of them:FM
  • 13:18 For income between Rs 12.5-15 lakhs, the tax rate has been reduced to 25% : FM
  • 13:17 Govt proposes to remove DDT to boost investment: FM
  • 13:16 Lowest in the world: Corporate tax for existing companies slashed to 22% : FM
  • 13:15 Govt to amend Banking Regulation Act to strengthen co-op banks
  • 13:15 The number game: Nominal GDP growth for FY21 revised to 10%
  • 13:14 Amendments to be made to enable NBFCs to extend invoice financing to MSMEs
  • 13:13 Universal pension coverage to have auto-enrolment : FM
  • 13:12 For income between Rs 10-12.5 lakh, the tax rate is currently 30%. This has now been bought down to 20%: FM
  • 13:12 FM Sitharaman announces major relief for taxpayers
  • 13:11 Income above Rs 15 lakh will continued to be taxed at 30%: FM
  • 13:10 For income between Rs 7.5-10 lakh, the tax rate has been reduced 15%: FM
  • 13:09 A new simplified income tax regime for individual tax payers : FM
  • 13:08 20% income tax slashed to 10% for those earning between 5 lakh to 7.5 lakh : FM
  • 13:07 Our govt has spearheaded radical fiscal measures to ensure high growth, says FM
  • 13:06 FY20 fiscal deficit seen at 3.8% of GDP: FM
  • 13:05 Revised estimates of expenditure at Rs 26.99 trillion; Receipts at Rs 19 trillion : FM
  • 13:04 Govt asks banks to extend restructuring MSME NPAs for one more year, which has a deadline of March, 2020 : FM
  • 13:03 Partial credit guarantee for NBFCs: FM
  • 13:02 Firms operating old thermal power plants advised to shut units if emission norms not met : FM
  • 13:01 FY21 divestment target pegged at Rs. 2.1 lakh crore : FM
  • 13:00 Minister proposes a scheme of subordinate debt for MSMEs. Govt requested RBI to extend the debt recast window of MSME by one year to 31 March 2021. : FM
  • 12:59 There is a huge demand for teachers, paramedical staff and caregivers in foreign countries. However, their skills do not match in accordance to demand by employers. So, my government proposes Rs. 3,000 crore for skill development
  • 12:58 Government plans to sell stake in LIC through IPO, said Nirmala Sitharaman
  • 12:57 FM unveils new scheme to provide subordinate debt to MSMEs
  • 12:57 Govt proposes amendments to facilitate separation of govt pension trust from PFRDA : FM
  • 12:56 Govt to sell govt stake in IDBI Bank to private investors : FM
  • 12:56 FY21 fiscal deficit target pegged at 3.5% of GDP
  • 12:55 More than 5,00,000 MSMEs benefited from RBI restructuring of loans : FM
  • 12:54 NIRVIK: A scheme to provide high insurance cover for exporters : FM
  • 12:53 Rs 2,500 crore to boost tourism : FM
  • 12:52 Govt proposes Rs 53,700 cr for welfare of schedule tribes : FM
  • 12:52 Certain debt products to be fully open to NRIs, apart from being available to resident investors: FM
  • 12:51 Allocation of Rs 30,757 crore for 2020-21 for Jammu and Kashmir and Rs 5,958 crore for Ladakh : FM
  • 12:50 App-based invoice financing plan on the cards: FM
  • 12:50 Amendments to Factory Regulation Act to help MSMEs to raise invoice financing, says FM
  • 12:49 Changes will be made in Companies Act
  • 12:48 Deposit insurance cover increased to Rs 5 lakh
  • 12:48 India will host the G20 presidency in 2022, says FM Nirmala Sitharaman. Rs 100 crore to be allocated for G20 preparations
  • 12:47 India has a firm framework related to contracts act, we aim to strengthen it: FM Sitharaman
  • 12:46 Govt to set up National Recruitment Agency for recruitment of non-gazetted posts: FM
  • 12:45 Would like to reassure taxpayers that we remain committed to taking measures to eliminate tax harassment: FM
  • 12:45 Taxpayers charter to be institutionalized: FM
  • 12:44 National security is our priority: Sitharaman
  • 12:43 Nirmala Sitharaman said the NDA government is "committed to Open Defecation Free (ODF) plus in order to sustain ODF behavior and to ensure no one is left behind."
  • 12:42 4 station re-development projects in railways via PPP models : FM
  • 12:41 Central government is planning to construct 2500 access control highway, 9000 km eco-development corridors, 200 coastal and port roads, 2000 km strategic highways : FM
  • 12:40 Indian Institute of Heritage and Conservation to be set up, with the status of a deemed university. : FM
  • 12:39 Five archaeological sites will be developed as world-class sites - Rakhigarhi, Haryana; Hastinapur, UP; Sivasagar, Assam; Dholavira, Gujarat; Adichanallur, TN. : FM
  • 12:38 A Tribal Museum is proposed in Ranchi. : FM
  • 12:37 Ministry of Culture - Rs. 3,150 crore. : FM
  • 12:36 India tourism sector grew at 7.8 per to 1.88 lakh crore from 1.75 lakh crore. : FM
  • 12:35 Coalition for Disaster Resilient Infrastructure launched from September 2019. Its implementation will be from January 2021. : FM
  • 12:34 Rs. 4,400 crore allocated to promote clean air in cities with 1 million population. : FM
  • 12:33 SC and OBC development - Rs. 85,000 crore ST development - Rs. 53,700 crore : FM
  • 12:32 Rs. 35,600 crore allocated for nutrition-related programmes. : FM
  • 12:31 We will appoint a task force to look into the issue of low age of girls entering motherhood.: FM
  • 12:30 Wealth creators will be respected in this country: FM
  • 12:30 Ayushman Bharat hospitals in 100 more districts: FM
  • 12:29 Govt proposes to encourage and incentivise states that are formulating plans for ensuring cleaner air: FM
  • 12:28 5 archaeological sites to be developed: FM
  • 12:27 Enhance allocation of Rs 9500 crores for senior citizens and Divyang : FM
  • 12:26 Govt proposes discoms replace conventional meters with smart pre-paid meters : FM
  • 12:26 Tech upgrade for better nutrition status : FM
  • 12:25 Bharat Net: Rs 6000 crore boost for internet connectivity - FM
  • 12:24 FM highlights the tremendous impact of Beti Bachao Beti Padhao
  • 12:23 The National Infrastructure Pipeline presents a huge employment opportunity. A National Logistics Policy to be released soon. : FM
  • 12:22 Chennai-Bengaluru Expressway to be started. : FM
  • 12:21 Within 100 days of the governments formation, it has eliminated unmanned level crossings, and aimed to achieve electrification of 27000 km of lines. : FM
  • 12:20 The government also proposes a Bengaluru suburban rail project at a cost of Rs. 18,600 crore. : FM
  • 12:19 Finance Minister proposes FDI and ECB in education.
  • 12:19 Govt proposes a task force to review women minimum age for marriage: FM
  • 12:18 A new infra road map to lend a cutting edge to flagship NIP scheme : FM
  • 12:17 100 more airports to be developed by 2025 : FM
  • 12:16 100,000 gram panchayats will be connected to the optical fibre programme: FM
  • 12:16 FM proposes Rs 8,000 crore outlay over 5 years for National Mission of Quantum Technology and Application
  • 12:15 Large solar power capacity to be set up alongside rail tracks, on land owned by Railways
  • 12:14 We will soon implement a policy to enable private sector to build data centric pub: FM
  • 12:13 National gas grid to be expanded from 16,200 km to 27,000 km, says FM
  • 12:12 FM announces Rs 20,000 crore for the renewable energy sector
  • 12:12 Detailed scheme to boost mobile phone, electronics, semi-conductors manufacturing to be revealed soon: FM Sitharaman
  • 12:11 All ministries to issuing quality standard orders, says FM Sitharaman
  • 12:10 Nirvik scheme for digital refunds of duties to exporters to be launched this year itself: FM
  • 12:10 MSMEs to benefit from e-market place working on single platform for exchange of goods: FM
  • 12:09 Govt proposes Rs 27,300 crore for development of industry and commence for year 2020-21: FM Sitharaman
  • 12:08 Accelerated development of highways will be undertaken: FM Sitharaman : FM
  • 12:08 12 lots of highway bundles to be monetised by 2024: FM
  • 12:07 Delhi-Mumbai expressway and two other projects will be completed by 2023: FM Sitharaman
  • 12:07 Government allocates Rs 1.7 trillion for transport sector overall: FM
  • 12:06 More Tejas types train to connect tourist places: FM Sitharaman
  • 12:06 Five new smart cities to be developed
  • 12:06 Coming soon: National Logistics Policy to make MSMEs more competitive : FM Sitharaman
  • 12:05 Rs 1,480 cr for National Textile Mission : FM Sitharaman
  • 12:05 FM makes entrepreneurs lives easier with new investment clearance cell
  • 12:04 Govt to use proceeds from taxing medical devices for setting up hospitals : FM Sitharaman
  • 12:03 With the largest working population, govt takes steps to ensure education for all : FM Sitharaman
  • 12:03 Govt propose National Police University and National Forensic University : FM Sitharaman
  • 12:02 Opportunities for young engineers: Internship with urban local bodies : FM Sitharaman
  • 12:01 Govt intends to eliminate Foot and Mouth Disease : FM Sitharaman
  • 12:00 The government proposes to set up hospitals in Tier-II and Tier-III cities with the private sector using PPP. : FM Sitharaman
  • 11:59 Fit India movement is a vital part of the fight against non-communicable diseases. : FM Sitharaman
  • 11:59 Govt to provide Rs. 99,300 crore for educational sector in FY21 : FM Sitharaman
  • 11:58 Government proposes to attach a medical college in existing district hospitals, said FM : FM Sitharaman
  • 11:57 NABARD re-finance scheme to be expanded to push agri credit
  • 11:57 Finance Ministry will allocate Rs. 1.23 lakh crore will be allocated to rural development, panchayati raj : FM Sitharaman
  • 11:56 Govt proposes Rs 3.6 lakh crore towards piped water supply to households : FM Sitharaman
  • 11:56 Govt to expand Mission Indradhanush, add hospitals to Ayushman Bharat : FM Sitharaman
  • 11:55 FDI in India rises to $284 billion during 2014-19 : FM Sitharaman
  • 11:55 IND-SAT test proposed for foreign students wishing to pursue higher education in India: FM Sitharaman
  • 11:54 Degree-level online education programmes to be launched by select institutes: FM
  • 11:53 Will further expand on SHGs for alleviation of poverty: FM
  • 11:52 I propose to expand Jan Aushadhi scheme to provide for all hospitals under Ayushmann Bharat by 2025: Nirmala Sitharaman.
  • 11:51 Framework for development, management and conservation of marine fishery resources to be put in place: Sitharaman
  • 11:51 150 higher institutes to start apprentice training for general category students, says Sitharaman.
  • 11:50 By 2030, India will have largest working-age population. We will have a new education policy soon, says Sitharaman.
  • 11:49 Government allocates Rs 12,300 cr for Swachh Bharat : FM Sitharaman
  • 11:48 Health sector to get Rs 69,000 crore: FM Sitharaman
  • 11:47 TB harega, desh jeetega launched: Tuberculosis to be eradicated by 2025 - FM
  • 11:46 FM allocates Rs 2.83 trillion for agro and allied sectors
  • 11:45 Introducing simpler GST filing system from April 2020, said Sitharaman
  • 11:44 Online natural product will also be strengthened, said FM
  • 11:43 MNREGA will be dovetailed to create fodder farms. - FM
  • 11:42 Agricultural credit target has been set at Rs. 15 lakh crore. All eligible beneficaries of PM Kisan will be covered under Kisan Credit Card scheme. - FM
  • 11:41 Financing on negotiable warehousing receipts has already crossed Rs. 6,000 crore. - FM
  • 11:40 Integrated farming systems in rain-fed areas will be established. - FM
  • 11:39 For the horticulture sector, with its current produce of 311 million metric tonnes exceeds the production of foodgrains. For better marketing and exports we will support States which support ‘one product, one district’. - FM
  • 11:38 The Indian Railways will set up Kisan Rail for cold storage of perishable goods through the PPP model. Krishi UDAN will be launched by the Ministry of Civil Aviation on international and national routes. - FM
  • 11:37 Govt to build up the seamless national cold supply chain for perishables - FM
  • 11:36 Govt plans to boost horticulture - FM
  • 11:35 Fish production to be raised to 20 mn tonnes: FM
  • 11:34 We will encourage balanced use of all fertilizers: FM Sitharaman
  • 11:33 Farmers can also use barren land for solar energy and have a livelihood out of it - Nirmala Sitharaman.
  • 11:32 Government can help 1.5 million solarise grid-connected pump sets, says finance minister Nirmala Sitharaman.
  • 11:31 PM Kusum Scheme reduced dependence on diesel and kerosene and relied on solar energy. Total of 2 million farmers can set up standalone solar pumps - FM
  • 11:30 Govt proposes plans to help farmers use proper manure and little water - FM
  • 11:29 We have insured 6.11 crore farmers under Pradhan Mantri Fasal Bima Yojna: FM
  • 11:28 Government to incentivize farmers to go solar - FM
  • 11:27 FMs action plan to ease India water problems starts with helping 100 districts
  • 11:26 India is now 5th largest economy in world - Nirmala Sitharaman
  • 11:25 FM outlines 16 actions under aspirational theme
  • 11:24 Encourage state govts who undertake implementation of model laws - Nirmala Sitharaman
  • 11:23 Aim for ease of living for all, says Sitharaman
  • 11:22 Budget proposes comprehensive measures for 100 water-stressed districts across India: Sitharaman
  • 11:21 Our government is committed to doubling farmers income by 2022: FM Sitharaman
  • 11:20 Efforts we have made in the last five years and the enthusiasm and energy of our youth are the ignition of our growth: FM
  • 11:19 There are 1 million people out of poverty and we should be proud of it: Finance Minister
  • 11:18 Motto of Sabka Saath, Sabka Vikas and Sabka Vishwas has implemented new programmes for poor: FM Budget speech
  • 11:17 This is a Budget to boost income and enhance purchasing power: FM
  • 11:16 Central govt debt has come down to 48.7% in March 2019 from 52.2% in March 2014 - FM
  • 11:15 Between 2006-2016 India was able to raise 271 million people out of poverty - FM
  • 11:14 3 factors of Budget 2020: Aspirational India, Economic development, Caring society - FM
  • 11:13 GST has integrated the country economically - FM
  • 11:12 GST benefit of Rs 1 lk cr has been extended to consumers - FM
  • 11:11 Inspector raj has vanished, says Nirmala Sitharaman
  • 11:10 An average household now saves about 4% of its monthly spend on account of reduced GST - FM
  • 11:09 16 lakh new taxpayers added to the system, reveals Sitharaman
  • 11:08 FM underlines the paradigm shift in the governance
  • 11:07 Several steps on formalisation of economy have been taken up - FM
  • 11:06 Our people should be gainfully employed, our businesses should be healthy - FM
  • 11:05 FM pays homage to Arun Jaitley
  • 11:04 A budget to boost income and enhance purchasing power - FM
  • 11:03 Fundamentals of the economy are strong - FM
  • 11:01 FM Nirmala Sitharaman Budget speech begins