Nirmala Sitharaman to present the Union Budget in the Parliament
Finance Minister Nirmala Sitharaman will on Saturday present the budget of the second term of the Narendra Modi government. Sitharaman will present the full-year budget for the year ending March 2021.
Nirmala Sitharaman arrives at Ministry of Finance
This will also be the second budget for Sitharaman, who became the second woman finance minister after Indira Gandhi to do so in the history of independent India.
MoS Finance Anurag Thakur: Modi govt believes in 'sabka sath, sabka vikas.'
Anurag Thakur |
Minsiter of State for Finance Anurag Thakur said "We received suggestions from across the country. The government is making efforts that this budget is good for all," reported ANI.
Yet again, Nirmala Sitharaman with 'Bahi-Khata' ahead of the presentation
Earlier, for the presentation Union Budget for 2019-20 in July 2019, Sitharaman decided to go with the swadeshi 'bahi khata' in line with Indian traditions, instead of the Budget briefcase which she said belonged to the British colonial era.
Finance Ministry: Gross GST revenue collected in the month of January 2020 is Rs 1,10,828 cr
Just few minuites before Finance Minister Nirmala Sitharaman presents the budget, Ministry of Finance said that the gross GST revenue collected in the month of January 2020 is Rs 1,10,828 crores. It also said that the total number of GSTR 3B Returns filed for the month of December up to 31st January, 2020 is 83 lakh.
Nirmala Sitharaman to proceed to Parliament to attend the Cabinet meeting
Printed copies of Union Budget brought to the Parliament
Copies of Union Budget being checked by a sniffer dog
The printed copies of the Budget 2020-21 that just arrived at the Parliament is been checked by a sniffer dog as part of a security check.
PM Narendra Modi, Amit Shah arrive at the Parliament
Nirmala Sitharaman's family including her daughter Parakala Vangmayi arrive in Parliament
FM: GST resulted in efficiency gains in transport and logistics sector
Finance Minister Nirmala Sitharaman said that GST has resulted in efficiency gains in the transport and logistics sector, inspector raj has vanished, it has benefitted Micro, Small & Medium Enterprises (MSME). Consumers have got an annual benefit of 1 lakh crore rupees by GST/
Rs 2.83 lakh crores allocated agriculture, allied activities, irrigation and rural development
Nirmala Sitharaman in her Budget Speech said that for sector comprising agriculture, allied activities, irrigation and rural development, an allocation of Rs 2.83 lakh crores has been made for 2020-21, reported ANI.
Comprehensive measures for 100 water-stressed districts at Rs 15 lakh cr
Nirmala Sitharaman in her Budget Speech said that Comprehensive measures for 100 water-stressed districts is being proposed in this budget; agricultural credit target has been set at Rs 15 lakh crore, reported ANI.
Youth and fishery extension work to be enabled by rural youth as 'Sagar Mitras'
Nirmala Sitharaman in her Budget Speech said that Youth and fishery extension work to be enabled by rural youth as 'Sagar Mitras', forming 500 fish farmer producing organizations, reported ANI
Viability gap funding window to be set up to cover hospitals
Nirmala Sitharaman in her Budget Speech said that viability gap funding window will be set up to cover hospitals, with priority given to aspirational districts that don't have hospitals empanelled under Ayushman Bharat scheme, reported ANI.
FM proposes to set up an investment clearance cell at state level that will provide end to end facilitation and support
Nirmala Sitharaman in her Budget Speech said "Entrepreneurship is strength of India. I propose to set up an investment clearance cell that will provide end to end facilitation and support including pre-investment advisory, info on land banks and facilitate clearance at state level."
Centre to announce new education policy soon
ANI quoted Nirmala Sitharaman as saying ,"A degree-level full-fledged online education programme to be offered by institutes in top 100 in National Institutional Ranking Framework."
Delhi-Mumbai Expressway will be completed by 2023
Solar panel alongside rail tracks on land owned by Railways
Nirmala Sitharaman said "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," quoted ANI.
High-speed train between Mumbai and Ahmedabad to be pursued
100 more airports to be developed by 2024 to support Udaan scheme
Govt announces Rs 99,300 crores for education sector
A sum of Rs 99,300 crores for education for the year 2020-21 will be provided, Finance Minister Nirmala Sitharaman said on Saturday while presenting the second union budget of Modi's re-elected government.
"We propose Rs 99300 crores for the education sector in 2020-21 and Rs 3000 crores for skill development," Sitharaman said in the Parliament.
Will provide Rs 35,600 crores for nutrition related programmes: FMÂ
More 6 lakh Anganwadi workers equipped with phones to upload nutritional status
Nirmala Sithraman said "Over 6 lakh Anganwadi workers are equipped with smartphones to upload nutritional status of more than 10 crore households," ANI quoted.
Enhance allocation of Rs 9,500 crores for senior citizens and 'Divyang'.
Rs 4,400 crore allocated for states that work towards clean air
ANI quoted Nirmala Sitharaman as saying "Clean air is a matter of concern in large cities, propose to encourage states to formulate and implement plans to ensure clean air. Allocation for this purpose is Rs 4,400 crores."
Rs 2,500 cr allocated to promote Tourism
Nirmala Sitharaman said "I propose to provide Rs 2500 crores for promotion of tourism in the year 2020-21." 5 archaeological sites to be developed as iconic sites with on-site museums -Rakhigarhi, Hastinapur, Shivsagar, Dholavira and Adichanallur, ANI reported.
India will host G-20 presidency in the year 2022
Nirmala Sitharaman said that India will host G-20 presidency in the year 2022 and Rs 100 crores has been allocated for the preparations, reported ANI.
Rs 30,757 cr for J&K and Rs 5,958 cr for Ladakh to support the new UTs
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
Deposit insurance coverage hiked to Rs 5 lakh per depositor Â
ANI quoted Nirmala Sitharaman as saying, "Deposit Insurance and Credit Guarantee Corporation has been permitted to increase deposit insurance coverage to Rs 5 lakh per depositor from Rs 1 lakh."
Govt proposes to sell a part of its holding in LIC by initial public offer
Estimated nominal GDP growth in FY'21 at 10%
Nirmala Sitharaman said "We have estimated nominal growth of GDP for the year 2020-21 on the trends available, at 10%."
Personal Income Tax under Rs 5-7.5 lakhs reduced to 10% against current 20%
ANI quoted Nirmala Sitharman said "We propose to bring a personal income tax regime, where income tax rates will be reduced, so now, person earning between Rs 5-7.5 lakhs will be required to pay tax at 10% against current 20%." "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%," Nirmala Sitharaman was quoted by ANI.
Around 70 of 100 income tax deductions and exemptions removed
ANI quoted Nirmala Sitharaman during her Budget Speech as saying, "Around 70 of more than 100 income tax deductions and exemptions have been removed, in order to simplify tax system and lower tax rates."
Turnover limit for start-ups to be increased from Rs 25 cr to 100 cr
ANI quoted Nirmala Sitharaman during her Budget Speech as saying, "Start-ups are engine of growth. Propose to increase turnover limit for startups from Rs 25 crores to 100 crores."
Dividend Distribution Tax for companies to be removed
ANI quoted Nirmala Sitharaman during her Budget Speech as saying, "Dividend Distribution Tax to be removed, companies will not be required to pay DDT, dividend to be taxed only at the hands of recipients at applicable rates."
Govt to launch system for instant allotment of PAN on basis of Aadhaar
Government to further ease process of allotment of PAN. Govt to launch system for instant allotment of PAN on basis of Aadhaar.
