Budget 2020 live updates

Nirmala Sitharaman proposes FDI in education, sector allocated over ₹99,000 crore

Union Budget 2020 Highlights | Rs 1.7 lakh crore provided for transport infrastructure in 2020-21

Finance Minister Nirmala Sitharaman is presenting the second full-grown budget of the Modi Government 2.0. The government is facing a stiff challenge of a sagging economy which dipped to a its worst in a decade.

A cut in personal income tax, sops for rural and agriculture sectors as well as an aggressive push on infrastructure spending are likely to be part of Finance Minister Nirmala Sitharaman’s “feel-good” second Budget.

Highlights of the Union Budget 2020

Taxpayers

• Taxpayers’ charter to be institutionalizes
• National recruitment agency to recruit non-gazetted officer through an exam
• We want to ensure the taxpayers that the government will not let anyone to be harrassed due to taxes: FM
• We wish to enshrine in the statue a taxpayers’ charter: FM

Culture and Tourism

• 5 archaeological sites to be developed as iconic sites with on-site museums -Rakhigarhi, Hastinapur, Shivsagar, Dholavira and Adichanallur
• Rs 3,150 crore allocated for the ministry of culture in 2020-21
• Rs 2,500 crore four development of tourisnm sector

Rural/Women/SCs and STs

• ‘Beti bachao, beti padhao’ has yielded tremendous results, gross enrolment ratio of girls across all levels of education now higher than boys.
• Task force to be set up to recommend marriageable age for women
• FM proposes budget provision of Rs 85,000 crore in 2020-21 for welfare of SC and other backward classes
• Govt provides Rs 53,700 crore for development and welfare of Scheduled Tribes
• Have identified suitable technology to eliminate manual cleaning of sewer systems and septic tanks: FM
• Rs 35,600 crore for nutrition-related programmes in 2020-21: FM

Digital

• FM proposes Rs 8,000 crore outlay over 5 years for National Mission of Quantum Technology and Application
• I propose to set up Data Centre Parks. The IT sector should also look into this. This will help is storing and dissemination of data better
• One lakh gram panchayats will be connected to the optical fibre programme: FM
• Data is the new oil. We will soon roll out policy to enable private sector to build data centre parks throughout the country: FM

Energy

• FM announces Rs 20,000 crore for the renewable energy sector
• Conventional energy meters to be replaced by prepaid ‘smart meters’ in the next three years. Pre-paid meters (smart meters) will give consumers freedom to choose suppliers: FM

Aviation

• 100 more airports to be developed by 2024 under PM Udaan scheme

Railways

• More Tejas type trains will connect iconic destinations: FM
• FM proposes setting up of a large solar-powered capacity alongside rail tracks

Roads and Highways

• Rs 1.7 lakh crore provided for transport infrastructure in 2020-21
• Propose to monetize 12 lots of highway bundles of over 6,000km before 2024: FM
• Delhi-Mumbai expressway and two other projects will be completed by 2023
• Accelerated development of highways will be undertaken

Industry/Investment

• FM proposes Rs 27,300 crore for the development and promotion of industry and commerce in 2020-21
• I propose to set up an investment clearance cell that will provided end to end facilitation and support including pre-investment advisory, info on land banks and facilitate clearance at state level: FM
• FM proposes a scheme focused on encouraging the manufacturing of mobile phones and electrical equipment

Health

• Jan Aushadhi Kendras in all districts of country to provide medicines at affordable rates
• FM proposes to expand Jan Aushadhi Kendras in all districts of country to provide medicines at affordable rates
• Anti-TB campaign to be launched to eliminate TB by 2025

Education

• FM says new courses will be introduced in 150 universities by 2026.
• Sitharaman announces the introduction of ‘Ind-SAT’, an exam for Asian and African countries to help make India a higher education destination
• FM announces Rs 99,300 crore outlay for education sector in 2020-21 and Rs 3,000 crore for skill development
• Medical college to be attached to each district hospital under PPP model: FM
• Degree-level full-fledged online education programme to be offered by the top 100 institutions
• Steps will be taken to deliver higher quality education
• By 2030, India is set to have the largest working age population in the world

Wellness, Water and Sanitation

• We have approved Rs 3.6 lakh crore for Jal Jeevan Mission to provide safe drinking water to rural India
• The total allocation for Swachh Bharat Mission is Rs 12,300 crore
• We have provided an additional Rs 69,000 crore for the health sector: FM Sitharaman
• A very focused safe water ‘Jal Jeevan Mission’ and sanitation programme ‘Swachh Bharat Yojna’ have been launched to tackle health concerns: FM

Agriculture

• Agricultural credit target has been set at Rs 15 lakh crore: Sitharaman
• Will set up Kisan rail so that farm goods can be quickly transported across the country: FM
• We shall help 15 lakh farmers solarize their grid-connected pumpsets: FM

FM Sitharaman underscores government’s ambition to make farming sector competitive