Live Updates and discussion on Union Budget 2020

Quick Summary
This discussion covers the live updates and key highlights of India's Union Budget 2020, presented by Finance Minister Nirmala Sitharaman. It details proposals aimed at boosting economic growth, providing relief to taxpayers, and supporting various sectors like agriculture, education, and MSMEs. The budget also introduced a new optional personal income tax regime and measures to simplify tax compliance.

Replace conventional electric meters with smart prepaid meters to get a supplier and rate of your choice- FM

Digital refund of duties and taxes of Centre, states and local bodies to exporters from this year: FM

Digital platform would be promoted that would facilitate seamless application and capture IPR also in an institute of excellence centre established that would work on the complexity and innovation in the field of intellectual property #FM

8,000 crores over a period of 5 years for the national mission on Quantum technologies #FM

Ratio of girls across all levels of education is now higher than boys - FM

National Logistics Policy will soon be released, creating single window e-logistics market: FM

National Gas Grid to be expanded from 16,200 km to 27,000 km; reforms to be introduced to deepen gas markets, enable ease of transactions and transparent price recovery #UnionBudget2020

FM proposes amount of about 85 thousand crores for Schedule Caste for 2020-21

India has moved from the rank 65 in 2014 to 34 in 2019 in the travel and tourism competitive index- FM

To achieve higher export credit disbursement – NIRVIK to be launched – high insurance cover, lower premium, simplification of claim settlement through the digital network" - currently premiums are up to 90% of the individual bill- this can be reduced further - #FM

 

 

Nirmala Sitharaman proposed to launch a new scheme to make India a hub for electronic manufacturing in line with the “Assemble In India" proposed by the Economic Survey on Friday. “India needs to manufacture networked products which will make India part of the global chain. Electronics industry’s potential in manufacture and job creation is immense. We need to encourage manufacturing of mobile phones, electronic equipment and semiconductor. Details will be announced

National Security is the top priority of the government- FM

The government is committed to preserving Environment & tackling Climate Change and aims to reduce carbon footprint, warning to old thermal plants: Rs. 4400cr allocated for Clean Air - FM @ nsitharaman

Taxpayer charter will be a part of our statutes- FM

Tax harrassment cannot be tolerated:FM

Wealth creators will be respected in the country #FM

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