National Chronicle
Business/Economy National Top News

Budget 2020: Biggest relief to tax payers

New Delhi: Finance Minister Nirmala Sitharaman is presenting the second budget of the second term of the Modi government in the Lok Sabha today.

Know all the information about the budget in this news …

– Bring new simplified rules for every taxpayer. This will reduce tax considerably. Under the new law, people from five to seven and a half million will have to pay 10 percent tax instead of twenty percent. Seven and a half million to 10 lakh will have to pay 15% tax on the man. For people out of 10 and a half lakhs, the tax has to be paid at 30 percent tax, reducing it to twenty percent.

– Government will sell its major share in LIC, IPO will be brought for LIC.

– Government’s remaining stake in IDBI Bank will be sold through the stock market.

The limit of cover on deposits in banks increased from one to five lakh rupees.

30757 crores for Jammu and Kashmir and 5958 crores for Ladakh.

– 23100 crores for the Ministry of Culture.

– Allocation of Rs. 85 thousand crores for Scheduled Castes and Other Backward Classes, Rs. 53700 crores for Scheduled Tribes and Rs. 9500 crores for Senior Citizens and Divyang.

– National security government’s top priority.

During the budget speech, Nirmala Sitharaman said that a national recruitment agency will be created soon. Under this, a non-gazetted post will be appointed. In such a situation, the bank recruitment process will be improved. A center will be built in every district.

– Five archeological sites will be developed as ideal tourist destinations.

– Proposal to increase the national gas grid network from 16200 km to 27000 km.

– Allocation of Rs. 53700 crore for the development of Scheduled Tribes.

– Proposal of Working Group to consider the age of marriage of girls.

– Large solar power generation plants will be installed on railway lands along the railway tracks.

– Enrollment of more girls than boys in educational institutions.

– 18 thousand 600 crores for the Bangalore suburban train service.

– 1.4 lakh crore allocation for the transport sector.

– 22 thousand crores for energy and renewable energy.

– Proposal to run 150 trains on PP model.

100 new airports will be built by the year 2024.

– 9000 km Economic Corridor Rajpath proposed.

– 100 lakh crore National Infra Fund.

27300 crores for industry, commerce.

– National Infra Pipeline proposal.

– 2500 km express highway, 9000 km economic corridor, 2000 km strategic highway will be built, Delhi-Mumbai Expressway, Chennai-Bengaluru Express will be ready soon: Nirmala Sitharaman

– Money received from the tax levied on medical equipment will be used to build a hospital. TB will lose, the country will win – this campaign has been launched. It will be eradicated from India by 2025. 69 thousand crore is proposed for the health sector.

– Proposal to constitute Police University, National University of Criminology

69 thousand crores for the health sector

– Government will provide financial help for the establishment of medical colleges in district hospitals

– Education policy will be announced soon

– 3.6 lakh crore rupees for water only life mission

– 12 thousand 300 crores for Swachh Bharat Mission

– Sagar Mitra Scheme to increase employment in fisheries sector

– Milk processing capacity will be doubled to 108 million tonnes by 2025

– NABARD will give 15 lakh crore loan for agriculture in 2020-21

– Sagarmitra Scheme for Fisheries.

Solar plants to be set up on wastelands.

– Work on connecting the pump set to solar power.

– The scope of NABARD’s refinance scheme will increase.

– Cold storage will be created at the panchayat level.

– Government succeeded in controlling inflation.

– The system of banks was rectified, NPA reduced.

– Government debt came down to 48.7 percent of GDP in March 2019.

– FDI increased to $ 284 billion in 2015–19.

– GST unifies the country financially, Inspector Raj comes to an end.

– Due to GST, the expenditure of people decreased by four percent.

– 20 lakh farmers will be given solar pump sets.

– Emphasis on farmers’ income to Dogura by 2022

– Budget aspirant India, focused on economic development and sentiment of sensitive society

Sitharaman paid tribute to Arun Jaitley as the chief architect of Goods and Services Tax (GST).

– Sixteen lakh new taxpayers joined the tax system.

– Average GDP rate of 7.4 percent during 2014-19.

– 17.1 million people taken out of poverty in five years

Related posts

UPSSSC Mandi Parishad Result 2020: Exam Result Declare, Know Your Result

NC Team

France records new all-time high with nearly 19k cases in 24hrs

NC Team

Coronavirus in Punjab: Amarinder Singh-led govt to provide oximeters for Rs 514 to all residents

NC Team

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More