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Highlights of Budget 2020-21

Posted on: March 02, 2020 | Back | Print


Here are the major glimpses of the Union Budget 2020-21

  • 69k crore allocated for PM’s Jan Arogya Yojna

  • 12,300 crore allocated for Swach Bharat

  • 99,300 crore projected on FY 21 Education sector in 2020-21 in

  • 2.83 Lakh crore allocated for Agriculture FY 21

  • 1.23 lakh crore allocated for Rural development FY 21

  • 69,000 Cr allocated for Healthcare FY21

  • 1.7 Lakh crore allocated for Transport infra

From the income tax front

  • Govt set a huge relief for individuals

  • Reduced corporate tax

INCOME

OLD

NEW

Up to 5 Lakh

5%

0%

5-7.5 lakhs

20%

10%

7.5-10 Lakhs

20%

15%

10-12.5 Lakhs

30%

20%

12.5-15 Lakhs

30%

25%

For income more than 15%, it will attract an income tax will be charged at 30%

  • 3.50 lakh crore allocated for public sector banks

  • Insurance cover for depositor raised to 5 lakhs

In Power Sector

  • Govt allocated INR 44 billion for clean air incentives with cities will all over 1 million people

  • Old power plants to be shut if emissions norms not met

  • 4400 cr allocated for clean air scheme

Wellness & Water Sanitation Sector

  • More hospitals to be set up in 2022-23

  • Uses of Artificial Intelligence on Ayushman Bharat scheme

  • 12,300 cr allocated for Swach Bharat

  • 3.6 lakh cr allocated for Jal Jeevan mission

Education Sector

  • New education policy will be announced soon

  • 99,300 crore in the education sector in 2020-21

  • Employment opportunity for general (Science & Technology) students

  • The internship opportunity will be provided by urban local bodies

  • Online education program proposed to the degree level

For Eco-Development

  • Govt proposed Investment clearance cell

  • Creation of 5 new smart cities

  • Schemes to encourage mobile manufacturers

  • National Tech textile mission soon to be proposed

For Indian Railways

  • High-speed train between Mumbai – AHD soon

  • 18,000 cr allocated in the rail project

  • 150 trains via PPP model

  • More Tejas like trains to connect more tourist spots

Roadway & Construction

  • Delhi-Mumbai expressway by 2022-23

  • Proposed to monetize 6000 km of Highway

  • Proposed Chennai- Bangalore expressway

  • 1.7 lakh crore allocated for transport infra in 2021

Skill India Initiative

  • The government proposed ?3,000 crores for ‘Skill India’ to provide relevant skill training for the youth

  • FY21 fiscal deficit target pegged at 3.5% of GDP

Connect India

  • Digital connectivity for essential services

  • ?6,000 crores allocated for BharatNet program

  • 1 lakh gram panchayat to get optical fiber link this year

  • Private sectors to set up data center parks

Agriculture Sector

  • Nabard refinance scheme will be expanded

  • 20 lakhs farmers to set up solar pumps this year

  • Village storage schemes for farmers

  • Dhana Lakhsmi schemes for village women

  • Krishi Udan will be launched by the civil aviation

  • 16 pt action plan for farmers

  • Zero budget natural farming

  • 200 lakh tonne fish production by 2022-23