Union Budget 2020 highlights: No tax on annual income of up to Rs 5 lakh, says FM Nirmala Sitharaman

Union Budget 2020 highlights: No tax on annual income of up to Rs 5 lakh, says FM Nirmala Sitharaman

Finance Minister Nirmala Sitharaman is presenting her second consecutive Union Budget in Parliament today

Govt committed to double farm income by 2022, says FM Nirmala Sitharaman Govt committed to double farm income by 2022, says FM Nirmala Sitharaman

Highlight89:FM Sitharaman cuts short her Budget speech after feeling unwell towards fag end#

Highlight88:'Vivad se Vishwas' scheme for direct tax payers whose appeals are pending at various forum, says FM#

Highlight87:Health cess on import of medical equipment imposed in Budget#

Highlight86:To ease allotment of PAN, new process of instantly allotting PAN through Aadhaar will be brought#

Highlight85:FM proposes scheme to bring down litigation in direct taxation scheme; 4.83 lakh direct cases pending in various appellate forums#

Highlight84:Govt extends additional Rs 1.5 lakh tax benefit on interest paid on affordable housing loans to March 2021#

Highlight83:Deferment of tax payment by employees on ESOPs from startups by five years proposed#

Highlight82:FM says have removed 70 exemptions, deductions with a view to further simplify tax regime#

Highlight81:Concessional tax rate of 15 pc extended to power generation companies#

Highlight80:100% tax concession to sovereign wealth funds on investment in infra projects proposed#

Highlight79: Health cess on import of medical equipment imposed in Budget#

Highlight78: Rs 40,000 crore per annum will be revenue foregone from new income tax rates for individuals, says FM#

Highlight77: A person earning Rs 15 lakh per anum and not availing any deductions will pay Rs 1.95 lakh tax in place of Rs 2.73 lakh now: FM#

Highlight76: New tax rates will apply for those who don't avail  income tax deductions, others can opt for old rates, says FM#

Highlight75: For income between Rs 5 lakh to Rs 7.5 lakh: 10%, Rs 7.5  to  Rs 10 lakh: 15%, Rs 10 lakh to Rs 12.5 lakh: 20%,  Rs 12.5 to Rs 15 lakh: 25%. For income above Rs 15 lakh, same rates will apply#

Highlight74: FM announces new rates of income tax#

Highlight73:Fiscal deficit pegged at 3.8% in current fiscal and 3.5% in next, says FM#

Highlight72: Nominal GDP growth rate for 2020-21 estimated at 10%#

Highlight71: Govt to sell part of its stake in LIC via IPO, says FM#

Highlight70: India will host G20 Presidency in 2022. Rs 100 crore to be allocated for making preparations for this historic occasion, where India will drive global economic agenda,  says FM#

Highlight69: Insurance for deposit limit in banks increased from Rs 1 lakh to Rs 5 lakh per depositor, says FM#

Highlight68: Govt fully committed to supporting new UTs of J&K and Ladakh; allocation of Rs 30,757 crore for 2020-21 for Jammu and Kashmir and Rs 5,958 crore for Ladakh#

Highlight67: Delhi-Mumbai Expressway will be completed by 2023, says Nirmala Sitharaman#

Highlight66: Taxpayer charter to be introduced under law, says FM#

Highlight65: National security is the top priority of the govt, says FM#

Highlight64: Rs 4,400 crore allocated for clean air schemes#

Highlight63: Rs 2,500 crore allocated for tourism promotion#

Highlight62: I propose to provide Rs 35,600 crore for nutrition related programmes for 2020-21#

Highlight61: Finance Minister proposes to set up a national Police university and a national forensic science university#

Highlight60: Oil and Natural Gas: Proposed to expand from 16K Km to 27K Km, the Gas Grid. Transparent price discovery to be evolved#

Highlight59: 100 more airports to be developed by 2024 to support the UDAN scheme#

Highlight58: Urban local bodies across the country to provide internships for young engineers for a period of up to one year#

Highlight57: Rs 2.83 lakh crore have been allocated for agriculture and irrigation#

Highlight56:Rs 99,300 crore for education sector in 2020-21 and Rs 3,000 crore for skill development#

Highlight55:India to launch National Technical Textile Mission to propel itself global leader in textiles production#

Highlight54:Scheme proposed for encouraging manufacturing of mobile phones, electronic equipment and semi-conductor packaging#

Highlight53:Investment Clearance Cell to set up through a portal, will provide end-to-end facilitation, support and information on land banks#

Highlight52:Rs 3.6 lakh crore allocated for Jal Jeevan Mission to ensure piped water in every household, says FM#

Highlight51:Total allocation for  swachhbharat is around Rs 12,300 crore for this year#

Highlight50:Our government is committed to ODFPlus, in order to sustain ODF behaviour and to ensure no one is left behind, says FM#

Highlight49:Will set up Kisan rail so that farm goods can be quickly transported across the country, says FM Nirmala Sitharaman#

Highlight48:Viability gap funding window to be set up to cover hospitals, with priority given to aspirational districts that don't have hospitals empanelled under Ayushman Bharat, says FM#

Highlight47:Youth and fishery extension work to be enabled by rural youth as Sagar Mitras, forming 500 fish farmer producing organizations#

Highlight46:Fish production to be raised to 200 lakh tonnes by 2022-23#

Highlight45:Framework for development, management and conservation of marine fishery resources to be put in place#

Highlight44:NABARD Refinancing Scheme to be further expanded, agri credit target for the year 2020-21 has been set at Rs 15 lakh crore#

Highlight43:These measures are among the 16 action points underlined by the FM#

Highlight42:FM Nirmala Sitharaman announces doubling of milk capacity from 53.3 million metric tonnes to 108 million metric tonnes by 2025# 

Highlight41:We will encourage balanced use of all fertilisers, a necessary step to change the incentive regime which encourages excessive use of chemical fertilizers#

Highlight40:Budget 2020 is to boost the income of people and enhance their purchasing power, says FM#

Highlight39:Farm markets need to be liberalised, farming need to be made more competitive, hand-holding of farm-based activities need to be provided, sustainable cropping patterns and more tech needed#

Highlight38:Farmers to be allowed to set up solar units on barren/fallow lands; supply power to grids#

Highlight37:FM says comprehensive measures for 100 water-stressed districts being proposed#

Highlight36:Central govt's debt has come down to 48.7% in March, 2019 from 52.2% in March, 2014, says FM Nirmala Sitharaman#

Highlight35:Govt uplifted 271 million people out of poverty, says FM#

Highlight34: We shall strive to bring Ease Of Living to every citizen#

Highlight33: Govt committed to double farm income by 2022, says FM#

Highlight32: Budget woven around three prominent things: Aspirational India, economic development and humane society, says FM#

Highlight31: GST was historic which abolished numerous taxes, though its chief archtitect is not with us, says FM# 

Highlight30: Nirmala Sitharaman says India is now the fifth largest economy of the world#

Highlight29: FM says inflation well contained, banks recapitalisation steps taken for the formalisation of economy#

Highlight28: Finance Minister Nirmala Sitharaman says fundamentals of Indian economy are very strong#

Highlight27: Finance Minister Nirmala Sitharaman starts her budget speech in Lok Sabha#

Highlight26: Union Cabinet approves Budget 2020, Finance Minister Nirmala Sitharaman to present budget in Lok Sabha shortly#

Highlight25: Investors and companies are hoping for rollback of long-term capital gains tax, relief to real estate sector lower income tax and push for rural demand#

Highlight24: Modi govt may raise spending on infrastructure and offer some tax incentives aiming to get growth back up from its lowest in a decade#

Highlight23: Govt may allocate Rs 1.90 lakh crore for food subsidies, though the food ministry has sought more than Rs 2 lakh crore to run the world's biggest food welfare programme#

Highlight22:Income tax amnesty may be announced after govt collected over Rs 35,000 crore from an amnesty this year to settle tax disputes on service and factory gate duties#

Highlight21:Economists in a Reuters poll predicted the govt would set a deficit target of 3.6% of GDP for 2020/21, up from 3.3% targeted for the current year#

Highlight20:FM is expected to announce plans to spend over Rs 102 trillion on roads, ports, airports, irrigation and other infrastructure over the next five years#

Highlight19:Middle class expects FM to increase the preventive health check-up deduction limit to Rs 10,000 from the current Rs 5000#

Highlight18:FM Nirmala Sitharaman reaches Finance Ministry with 'Bahi Khata' in red cloth. MoS Finance Anurag Thakur and team also there#

Highlight17: On Friday, govt predicted economic growth will rise to 6% to 6.5% in the fiscal year beginning April 1#

Highlight16: Analysts for ensuring single-window clearances for businesses and removing tax roadblocks for easing business sentiment#

Highlight15: Analysts say there is high probability that the fiscal deficit target of 3.3% for current fiscal will not be met#

Highlight14:Government is expected to make major expenditure announcements in the Budget to bail out the economy#

Highlight13: Government may raise the public provident fund threshold from Rs 1.5 lakh to Rs 2.5 lakh#

Highlight12:Govt is considering a separate segment under Section 80C for tax exemptions of up to Rs 50,000 under National Savings Certificate#

Highlight11: Finance ministry plans to permit tax exemptions of up to Rs 2.5 lakh for savings under Section 80 C#

Highlight10:Real estate players have called for abolition of stamp duty or its incorporation under GST#

Highlight9: Reduction in income tax limits boost real estate sector as it will increase disposable income of buyers#

Highlight8: Market participants for scrapping of LTCG tax on equity investment or extending the holding period from one year to two years with nil tax#

Highlight7:Govt is expected to raise current limit of standard deduction from Rs 50,000 to Rs 75,000#

Highlight6:Reintroduction of medical reimbursement and travel allowance exemption is one of key demands for salaried class#

Highlight5:Slippage in fiscal deficit target from earlier estimates of 3.3% is expected in Budget#

Highlight4:FM walks on a tight rope to ensure balance between industry expectations and fiscal consolidation#

Highlight3:Relief in income tax is likely to be announced in Union Budget 2020#

Highlight2:Narendra Modi government to present Budget 2020 in Parliament today#

Highlight1:Finance Minister Nirmala Sitharaman will present her second consecutive Union Budget in Parliament today#