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

FM Sitharaman cuts short her Budget speech after feeling unwell towards fag end
'Vivad se Vishwas' scheme for direct tax payers whose appeals are pending at various forum, says FM
Health cess on import of medical equipment imposed in Budget
To ease allotment of PAN, new process of instantly allotting PAN through Aadhaar will be brought
FM proposes scheme to bring down litigation in direct taxation scheme; 4.83 lakh direct cases pending in various appellate forums
Govt extends additional Rs 1.5 lakh tax benefit on interest paid on affordable housing loans to March 2021
Deferment of tax payment by employees on ESOPs from startups by five years proposed
FM says have removed 70 exemptions, deductions with a view to further simplify tax regime
Concessional tax rate of 15 pc extended to power generation companies
100% tax concession to sovereign wealth funds on investment in infra projects proposed
Health cess on import of medical equipment imposed in Budget
Rs 40,000 crore per annum will be revenue foregone from new income tax rates for individuals, says FM
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
New tax rates will apply for those who don't avail income tax deductions, others can opt for old rates, says FM
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
Fiscal deficit pegged at 3.8% in current fiscal and 3.5% in next, says FM
Nominal GDP growth rate for 2020-21 estimated at 10%
Govt to sell part of its stake in LIC via IPO, says FM
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
Insurance for deposit limit in banks increased from Rs 1 lakh to Rs 5 lakh per depositor, says FM
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
Delhi-Mumbai Expressway will be completed by 2023, says Nirmala Sitharaman
Taxpayer charter to be introduced under law, says FM
National security is the top priority of the govt, says FM
Rs 4,400 crore allocated for clean air schemes
Rs 2,500 crore allocated for tourism promotion
I propose to provide Rs 35,600 crore for nutrition related programmes for 2020-21
Finance Minister proposes to set up a national Police university and a national forensic science university
Oil and Natural Gas: Proposed to expand from 16K Km to 27K Km, the Gas Grid. Transparent price discovery to be evolved
100 more airports to be developed by 2024 to support the UDAN scheme
Urban local bodies across the country to provide internships for young engineers for a period of up to one year
Rs 2.83 lakh crore have been allocated for agriculture and irrigation
Rs 99,300 crore for education sector in 2020-21 and Rs 3,000 crore for skill development
India to launch National Technical Textile Mission to propel itself global leader in textiles production
Scheme proposed for encouraging manufacturing of mobile phones, electronic equipment and semi-conductor packaging
Investment Clearance Cell to set up through a portal, will provide end-to-end facilitation, support and information on land banks
Rs 3.6 lakh crore allocated for Jal Jeevan Mission to ensure piped water in every household, says FM
Total allocation for swachhbharat is around Rs 12,300 crore for this year
Our government is committed to ODFPlus, in order to sustain ODF behaviour and to ensure no one is left behind, says FM
Will set up Kisan rail so that farm goods can be quickly transported across the country, says FM Nirmala Sitharaman
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
Youth and fishery extension work to be enabled by rural youth as Sagar Mitras, forming 500 fish farmer producing organizations
Fish production to be raised to 200 lakh tonnes by 2022-23
Framework for development, management and conservation of marine fishery resources to be put in place
These measures are among the 16 action points underlined by the FM
FM Nirmala Sitharaman announces doubling of milk capacity from 53.3 million metric tonnes to 108 million metric tonnes by 2025
We will encourage balanced use of all fertilisers, a necessary step to change the incentive regime which encourages excessive use of chemical fertilizers
Budget 2020 is to boost the income of people and enhance their purchasing power, says FM
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
Farmers to be allowed to set up solar units on barren/fallow lands; supply power to grids
FM says comprehensive measures for 100 water-stressed districts being proposed
Central govt's debt has come down to 48.7% in March, 2019 from 52.2% in March, 2014, says FM Nirmala Sitharaman
Govt uplifted 271 million people out of poverty, says FM
We shall strive to bring Ease Of Living to every citizen
Govt committed to double farm income by 2022, says FM
Budget woven around three prominent things: Aspirational India, economic development and humane society, says FM
GST was historic which abolished numerous taxes, though its chief archtitect is not with us, says FM
Nirmala Sitharaman says India is now the fifth largest economy of the world
FM says inflation well contained, banks recapitalisation steps taken for the formalisation of economy
Finance Minister Nirmala Sitharaman says fundamentals of Indian economy are very strong
Finance Minister Nirmala Sitharaman starts her budget speech in Lok Sabha
Union Cabinet approves Budget 2020, Finance Minister Nirmala Sitharaman to present budget in Lok Sabha shortly
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
Modi govt may raise spending on infrastructure and offer some tax incentives aiming to get growth back up from its lowest in a decade
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
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
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
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
Middle class expects FM to increase the preventive health check-up deduction limit to Rs 10,000 from the current Rs 5000
On Friday, govt predicted economic growth will rise to 6% to 6.5% in the fiscal year beginning April 1
Analysts for ensuring single-window clearances for businesses and removing tax roadblocks for easing business sentiment
Analysts say there is high probability that the fiscal deficit target of 3.3% for current fiscal will not be met
Government is expected to make major expenditure announcements in the Budget to bail out the economy
Government may raise the public provident fund threshold from Rs 1.5 lakh to Rs 2.5 lakh
Govt is considering a separate segment under Section 80C for tax exemptions of up to Rs 50,000 under National Savings Certificate
Finance ministry plans to permit tax exemptions of up to Rs 2.5 lakh for savings under Section 80 C
Real estate players have called for abolition of stamp duty or its incorporation under GST
Reduction in income tax limits boost real estate sector as it will increase disposable income of buyers
Market participants for scrapping of LTCG tax on equity investment or extending the holding period from one year to two years with nil tax
Govt is expected to raise current limit of standard deduction from Rs 50,000 to Rs 75,000
Reintroduction of medical reimbursement and travel allowance exemption is one of key demands for salaried class
Slippage in fiscal deficit target from earlier estimates of 3.3% is expected in Budget
FM walks on a tight rope to ensure balance between industry expectations and fiscal consolidation
Relief in income tax is likely to be announced in Union Budget 2020
Narendra Modi government to present Budget 2020 in Parliament today
Finance Minister Nirmala Sitharaman will present her second consecutive Union Budget in Parliament today

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

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