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Feb 11, 2020

Budget Highlights 2020-21 - Direct Taxes

<!-- wp:list --> <ul><li><strong>New and simplified personal income tax regime </strong>proposed wherein tax rates are as follows: </li></ul> <!-- /wp:list --> <!-- wp:table --> <table class="wp-block-table"><tbody><tr><td> <strong>Taxable Income (in Rs.)</strong> </td><td> <strong>Existing Tax Rates</strong> </td><td> <strong>New Tax Rates</strong> </td></tr><tr><td> 0 - 2,50,000 </td><td> Exempt </td><td> Exempt </td></tr><tr><td> 2,50,000 – 5,00,000 </td><td> 5% </td><td> 5% </td></tr><tr><td> 5,00,000 – 7,50,000 </td><td> 20% </td><td> 10%.....

Feb 12, 2020

Budget Highlights 2020-21 - Indirect Taxes

<!-- wp:list --> <ul><li>Simplified GST returns with features like <strong>SMS based filing for nil return</strong> and <strong>improved input tax credit flow</strong> to be implemented from 1st April 2020 as a pilot run.</li><li><strong>Customs duty raised on footwear</strong> to 35% from 25% and on furniture goods to 25% from 20%.</li><li><strong>5% health cess to be imposed on the imports of medical devices</strong>, except those exempts from Basic Customs Duty.</li><li><strong>Excise duty proposed to be raised on Cigarettes and other tobacco products</strong>. No change made in the duty ra.....

Feb 12, 2020

Budget Highlights 2020-21 - Fiscal Management

<!-- wp:list --> <ul><li>For the FY 2019-20:<ul><li>Revised Estimates of Expenditure: at Rs.26.99 lakh Crores.</li><li>Revised Estimates of Receipts: estimated at Rs.19.32 lakh Crores.</li></ul></li><li>For the year 2020-21:<ul><li><strong>Nominal growth of GDP estimated at 10%.</strong></li><li>Receipts: estimated at Rs.22.46 lakh Crores.</li><li> Expenditure: at Rs.30.42 lakh Crores.</li></ul></li><li> Fiscal deficit of <strong>3.8%</strong> estimated in Revised Estimate 2019-20 and <strong>3.5%</strong> for Budget Estimate 2020-21. </li></ul> <!-- /wp:list --> <!-- wp:image {"id":589} --> .....

Feb 12, 2020

Budget Highlights 2020-21 - Agriculture and Rural Economy

<!-- wp:list --> <ul><li>The government proposed an action plan to boost agriculture and farmers' welfare.</li><li><strong>Kisan Rail</strong> to be set up by Indian Railways through PPP: <ul><li> To build a <strong>seamless national cold supply chain for perishables</strong> (milk, meat, fish, etc.).</li><li><strong>Express and Freight trains</strong> to have <strong>refrigerated coaches.</strong></li></ul></li><li><strong>Krishi Udaan</strong> to be launched by the <strong>Ministry of Civil Aviation</strong>: <ul><li> Both international and national routes to be covered. </li><li> North-East.....

Feb 12, 2020

Budget Highlights 2020-21 - Education and skills

<!-- wp:list --> <ul><li><strong>National Police University</strong> and <strong>National Forensic Science University</strong> proposed for policing science, forensic science, and cyber-forensics.</li><li>Degree level full-fledged <strong>online education program</strong> by Top-100 institutions in the National Institutional Ranking Framework.</li><li>Up to <strong>1-year internship</strong> to fresh engineers to be provided by Urban Local Bodies.</li><li> The budget proposes to attach a <strong>medical college to an existing district hospital</strong> in Public-Private Partnership mode. .</li.....

Feb 12, 2020

Budget Highlights 2020-21 - Industry, Commerce and Investment

<!-- wp:list --> <ul><li><strong>National Technical Textiles Mission</strong>: <ul><li> With <strong>four-year implementation period</strong> from 2020-21 to 2023-24.</li><li>At an estimated <strong>outlay of Rs 1480 crore</strong>.</li><li> To position India as a <strong>global leader in Technical Textiles</strong>. </li></ul></li><li><strong>NIRVIKscheme</strong> for <strong>exporters to achieve higher export credit disbursement,</strong> which provides for:<ul><li> Higher insurance coverage. </li><li> Reduction in premium for small exporters. </li><li> Simplified procedure for claim settlem.....

Feb 12, 2020

Budget Highlights 2020-21 -Health

<!-- wp:list --> <ul><li><strong>PM Jan Arogya Yojana (PMJAY)</strong>: <ul><li> Viability Gap Funding (VGF) window (incentive scheme in which a certain percentage of the total capital cost is paid by the government) proposed for setting up hospitals in the <strong>Public-Private Partnership mode</strong>.</li><li> Aspirational Districts with no Ayushman empaneled hospitals to be covered in the first phase.</li></ul></li><li><strong>Jan Aushadhi Kendra Scheme</strong> to offer 2000 medicines and 300 surgical in all districts by 2024. </li><li><strong>TB Harega Desh Jeetega</strong> campaign la.....

Feb 12, 2020

Budget Highlights 2020-21 - Women Empowerment

<!-- wp:list --> <ul><li>Allocation of <strong>Rs. 35,600 crore</strong> for nutrition-related programs proposed for the FY 2020-21.</li><li><strong>Rs. 28,600 crores </strong>proposed <strong>for women-specific programs</strong>.</li><li><strong>The issue about the age of a girl entering motherhood</strong> – It is proposed to appoint a task force to present its recommendations in six months’ time. </li></ul> <!-- /wp:list -->.....

Feb 12, 2020

Budget highlights 2020-21 - Financial Sector

<!-- wp:list --> <ul><li>Deposit Insurance and Credit Guarantee Corporation <strong>(DICGC)</strong> permitted to <strong>increase Deposit Insurance Coverage to Rs. 5 lakh from Rs.1 lakh per depositor.</strong></li><li><strong>NBFCs eligibility limit for debt recovery</strong> reduced from:<ul><li>Rs. 500 crore to Rs 100 crore asset size.</li><li> Rs 1 crore to Rs 50 lakh loan size.</li></ul></li><li> <strong>Government</strong> <strong>to sell</strong> <strong>its balance holding in IDBI Bank</strong> to private, retail and institutional investors through the stock exchange.</li><li><strong>T.....

Feb 12, 2020

Budget Highlights 2020-21 - Infrastructure

<!-- wp:list --> <ul><li>A <strong>National Logistics Policy</strong> to be released soon to clarify roles of the Union Government, State Governments and key regulators.</li><li><strong>Single window e-logistics</strong> market to be created.</li><li><strong>Rs.1.7 lakh crore</strong> proposed for <strong>transport infrastructure</strong> in 2020-21.</li><li><strong>Delhi-Mumbai Expressway</strong> and two other packages to be completed by 2023. <strong>Chennai-Bengaluru Expressway </strong>to be started.</li><li><strong>Large solar power capacity</strong> to be set up alongside rail tracks, o.....

Feb 12, 2020

Budget Highlights 2020-21 - Culture and Tourism

<!-- wp:list --> <ul><li>An <strong>Indian Institute of Heritage and Conservation</strong> under Ministry of Culture proposed with the status of a deemed University.</li><li><strong>5 archaeological sites to be developed</strong> as iconic sites with on-site Museums:<ul><li> Rakhigarhi (Haryana) </li><li> Hastinapur (Uttar Pradesh)</li><li> Shivsagar (Assam)</li><li> Dholavira (Gujarat)</li><li> Adichanallur (Tamil Nadu)</li></ul></li><li><strong>Museum on Numismatics</strong> and Trade to be located in the historic Old Mint building in Kolkata.</li><li> Government to provide support for <str.....

Feb 12, 2020

Budget Highlights 2020-21 - Others

<!-- wp:list --> <ul><li><strong>Government to sell a part of its holding in LIC </strong>by way of<strong> Initial Public Offer (IPO).</strong></li><li><strong>Fiber to the Home</strong> (FTTH) connections <strong>through Bharatnet</strong> to link 100,000-gram panchayats this year. Rs.6000 crore proposed for the Bharatnet program in 2020-21.</li><li> For <strong>recruitment to Non-Gazetted posts in Government and Public sector banks</strong>, an independent, professional and <strong>specialist National Recruitment Agency</strong> (NRA) for conducting a <strong>computer-based online Common El.....

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