Budget 2020 – Highlights

Nirmala Sitaraman, Union Finance Minister

Headlines February 1, 2020

Finance Minister Nirmala Sitharaman has tabled her second Budget in Parliament. She began by listing the achievements of the Modi government and presented the government’s plan for the economy. The theme of the Budget is Aspirational India, growth for all, caring society.

Here are the highlights so far:

Enhanced allocation of ₹ 9,500 crore provided for senior citizens and disabled community.

Income upto ₹ 12.5-15 lakhs to be taxed 25%. Income upto ₹ 10-12.5 lakhs to be taxed 20%

₹ 8000 Cr for Quantum Tech in next 5-years.

More Tejas type trains will connect tourist destinations.

Indian Railways to set up Kisan Rail to build cold supply chain. This is to build a seamless national cold supply chain for perishables.

Solar generation on fallow land to boost farm incomes.

Simplified return for GST from April 2020.

Cuts in personal income tax likely to part of Budget.

₹ 12300 Cr allocated for Swachh Bharat Mission.

₹ 69,000 crore allocated for healthcare sector

5 new smart cities in public-private partnership mode.

2000 KM of strategic highways to be built.

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