Live Updates: Union Budget-2020 By Finance Minister Nirmala Sitharaman

Live Updates: Union Budget-2020 By Finance Minister Nirmala Sitharaman
February 1, 2020 No Comments Public Awareness PARAMHOMES
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Live Updates Of Lok Sabha Budget 2020

Finance minister Nirmala Sitharaman is presenting her second Union Budget. Union Budget 2020 aims to boost the income of the people.  

11:03 (IST), FEB 01

In May 2019, PM Modi received a massive mandate again. We commit ourselves to serve the people of India with all humility and dedication: FM

11:04 (IST), FEB 01

This Budget is to boost the income of people and enhance their purchasing power: FM

11:04 (IST), FEB 01

Let our businesses be innovative, healthy and solvent with use of tech: FM

11:05 (IST), FEB 01

For every member of the schedule caste and schedule tribe, for every women, for every individual from minority section of the society, this budget aims to give wings to your aspirations: FM

11:06 (IST), FEB 01

Fundamentals of the economy are strong: FM

11:06 (IST), FEB 01

I pay homage to Arun Jaitley: FM

11:08 (IST), FEB 01

We have focused on fundamental and structural reforms, says Sitharaman

11:09 (IST), FEB 01

GST has integrated the entire nation, says FM

11:09 (IST), FEB 01

We have added 16 lakh new taxpayers, reveals FM

11:10 (IST), FEB 01

Guided by Sabka Saath, Sabka Vikas, Sabka Vishwas, our govt scaled up the implementation of schemes that directly benefited the poor and disadvantaged: FM

11:11 (IST), FEB 01

40 crore GST returns were filed in this financial year: FM

11:11 (IST), FEB 01

The milestones achieved under Modi government have been unprecedented and were globally recognized: FM

11:13 (IST), FEB 01

Between 2006-16, India was able to pull 271 million people out of poverty: FM

11:14 (IST), FEB 01

We shall strive to bring ease of living to every citizen: FM

11:15 (IST), FEB 01

There has been a paradigm shift in governance as quoted by Nirmala Sitharaman

11:16 (IST), FEB 01

This Budget is woven around three prominent things – aspirational India to boost the standard of living; economic development for all; and building a humane and compassionate society

11:17 (IST), FEB 01

FM Sitharaman says central govt’s debt has come down to 48.7% in March, 2019 from 52.2% in March, 2014

11:20 (IST), FEB 01

 As Quoted by FM Sitharaman- “India is now fifth largest economy in the world”

11:20 (IST), FEB 01

“We are committed to the goal of doubling farmers’ income by 2020”

11:22 (IST), FEB 01

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

11:23 (IST), FEB 01

We want to encourage state governments to implement model agricultural laws passed by central government: FM

11:24 (IST), FEB 01

We shall help 15 lakh farmers solarize their grid-connected pumpsets: FM

11:25 (IST), FEB 01

FM Sitharaman speaks about government’s efforts to promote the use of solar energy in the farming sector

11:26 (IST), FEB 01

GST resulted in Rs 1 lakh crore gains to consumers, removed inspector raj and helped transport sector- FM Sitharaman

11:29 (IST), FEB 01

FM lists 16-point action plan for farmers

11:29 (IST), FEB 01

Comprehensive measures for 100 water-stressed districts being proposed: FM

11:30 (IST), FEB 01

Will set up Kisan rail so that goods can be quickly transported across the country: FM

11:31 (IST), FEB 01

Pradhan Mantri Kisan Urja Suraksha evem Utthan Mahabhiyan (PM KUSUM) to be expanded to provide 20 lakh farmers in setting up standalone solar pumpsFM Sitharaman

11:33 (IST), FEB 01

Agricultural credit target has been set at Rs 15 lakh crore

11:34 (IST), FEB 01

FM: By 2022-23, I propose raising fish production to 200 lakh tonnes

11:35 (IST), FEB 01

We will encourage balanced use of all fertilizers, a necessary step to change the incentive regime which encourages excessive use of chemical fertilizers: FM

11:36 (IST), FEB 01

Food Corporation of India and Warehousing Corporation of India to build warehousing facility on their land, says FM

11:37 (IST), FEB 01

Now I will talk about wellness, water and sanitation: FM

11:38 (IST), FEB 01

A very focused safe water ‘Jal Jeevan Mission’ and sanitation programme ‘Swachh Bharat Yojna’ have been launched to tackle health concerns: FM

11:40 (IST), FEB 01

We have provided an additional Rs 69,000 crore for the health sector: FM Sitharaman

11:41 (IST), FEB 01

The total allocation for Swachh Bharat Mission is Rs 12,300 crore in 2020-21: FM

11:42 (IST), FEB 01

We have approved Rs 3.6 lakh crore for Jal Jeevan Mission to provide safe drinking water to rural India: FM

11:43 (IST), FEB 01

By 2030, India is set to have the largest working age population in the world: FM

11:43 (IST), FEB 01

Steps will be taken to deliver higher quality education: FM

11:45 (IST), FEB 01

FM announces degree-level full-fledged online education programme to be offered by the top 100 institutions in the country

11:48 (IST), FEB 01

FM Sitharaman stated – Anti-TB campaign to be launched to eliminate TB by 2025

11:49 (IST), FEB 01

FM announces Rs 99,300 crore outlay for education sector in 2020-21 and Rs 3,000 crore for skill development

11:51 (IST), FEB 01

Sitharaman announces the introduction of ‘Ind-SAT’, an exam for Asian and African countries to help make India a higher education destination.

11:54 (IST), FEB 01

FM proposes a scheme focused on encouraging the manufacturing of mobile phones and electrical equipment

11:55 (IST), FEB 01

Sitharaman mentions three important themes in her Budget speech- She said: “This Budget is about three important themes — as pirational India (‘Sabka Saath Sabka Vikas’), economic development and caring society . Sitharaman also listed out various welfare schemes like affordable housing, direct benefit transfer (DBT) and Ayushman Bharat.

11:55 (IST), FEB 01

Entrepreneurship is strength of India. 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

11:56 (IST), FEB 01

We wish to turn every district into an export house: FM

11:57 (IST), FEB 01

FM proposes Rs 27,300 crore for the development and promotion of industry and commerce in 2020-21

12:00 (IST), FEB 01

Accelerated development of highways will be undertaken: FM

12:00 (IST), FEB 01

Delhi-Mumbai expressway and two other projects will be completed by 2023: FM

12:01 (IST), FEB 01
Propose to monetize 12 lots of highway bundles of over 6,000km before 2024: FM

12:02 (IST), FEB 01
FM proposes setting up of a large solar-powered capacity alongside rail tracks

12:05 (IST), FEB 01
FM Sitharaman– 100 more airports to be developed by 2024. Will introduce more Tejas-like trains
12:06 (IST), FEB 01
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
12:07 (IST), FEB 01
FM announces Rs 20,000 crore for the renewable energy sector
12:07 (IST), FEB 01
Govt plans to expand gas grid: FM
12:08 (IST), FEB 01
Government has harnessed new technology to enable Direct Benefit Transfers on a scale like never before: FM
12:09 (IST), FEB 01Data is the new oil. We will soon roll out policy to enable private sector to build data centre parks throughout the country: FM
12:09 (IST), FEB 01
One lakh gram panchayats will be connected to the optical fibre programme: FM
12:12 (IST), FEB 01
FM proposes Rs 8,000 crore outlay over 5 years for National Mission of Quantum Technology and Application
12:13 (IST), FEB 01
Rs 1.7 lakh crore provided for transport infrastructure in 2020-21
12:15 (IST), FEB 01
Over 6 lakh anganwadi workers have been equipped with smartphones to upload the nutrition status of 10 crore households: FM
12:16 (IST), FEB 01
Propose to provide Rs 35,600 crore for nutrition-related programmes in 2020-21: FM
12:17 (IST), FEB 01
Have identified suitable technology to eliminate manual cleaning of sewer systems and septic tanks: FM

12:18 (IST), FEB 01
FM proposes budget provision of Rs 85,000 crore in 2020-21 for welfare of SC, STs and other backward classes

12:19 (IST), FEB 01
Govt provides Rs 53,700 crore for development and welfare of Scheduled Tribes

12:20 (IST), FEB 01
FM allocates Rs 9,000 crore for senior citizens
12:22 (IST), FEB 01
Five archaeological sites to be developed at iconic sites with on-site museums: FM Sitharaman

12:22 (IST), FEB 01
Rs 3,150 crore allocated for the ministry of culture in 2020-21
12:24 (IST), FEB 01
FM Sitharaman-Ayushman Bharat hospitals in 100 more districts
12:25 (IST), FEB 01
In large cities with population of over 1 million, clean air is a matter of
concern: FM
12:26 (IST), FEB 01
Govt proposes to encourage and incentivize states that are formulating plans for ensuring cleaner air: FM
12:29 (IST), FEB 01
Rs 4,400 crore allocation for clean air: FM

12:30 (IST), FEB 01
National security is the top priority of the government: FM

12:30 (IST), FEB 01
National security is the top priority of the government: FM
12:33 (IST), FEB 01
Promoting ease of living is the goal of Modi government: FM
12:33 (IST), FEB 01
We wish to enshrine in the statue a taxpayers’ charter: FM
12:34 (IST), FEB 01
Would like to reassure taxpayers that we remain committed to taking measures to eliminate tax harassment: FM
12:34 (IST), FEB 01
Taxpayers’ charter to be institutionalized- Stated by FM Sitharaman
12:35 (IST), FEB 01
Propose to set up a national recruitment agency for conduct of computer-based online common eligibility test for recruitment to non-gazetted post: FM
12:36 (IST), FEB 01
India has a firm framework related to contracts act, we aim to strengthen it: FM
12:38 (IST), FEB 01
Rs 100 crore to be allocated for G20 preparations: FM
12:40 (IST), FEB 01
A robust mechanism is in place to monitor the health of all scheduled commercial banks. The deposited money of individuals is absolutely safe: FM
12:41 (IST), FEB 01
Insurance cover for a depositor will be raised to Rs 5 lakh from Rs 1 lakh: FM
12:45 (IST), FEB 01
Over 5 lakh MSMEs have benefited from debt restructuring: FM

12:46 (IST), FEB 01
FM unveils new scheme to provide subordinate debt to MSM

12:49 (IST), FEB 01
Non-residents can invest in certain government securities: FM Sitharaman
12:49 (IST), FEB 01
Non-residents can invest in certain government securities: FM Sitharaman

12:51 (IST), FEB 01
Govt asks banks to extend restructuring MSME NPAs for one more year, which has a deadline of March, 2020

12:52 (IST), FEB 01
Govt proposes to sell a part of its holding in LIC for fiscal management: FM
12:57 (IST), FEB 01
GDP nominal growth has been estimated at 10%: FM
12:59 (IST), FEB 01
We estimate a fiscal deficit of 3.8%: Sitharaman
13:00 (IST), FEB 01
RE (Revised Estimates) expenditure for FY20 at Rs 26.99 lakh crore, receipts at Rs 19.32 lakh crore: FM Sitharaman

13:01 (IST), FEB 01
Our govt has spearheaded radical fiscal measures to ensure high growth: FM
13:04 (IST), FEB 01
Presently, an individual pays 20% of tax on income between Rs 5-10 lakh and 30% on income beyond Rs 10 lakh
13:05 (IST), FEB 01
To provide significant relief to individual taxpayers, I propose to bring a new simplified personal income tax regime wherein I-T rates will be decreased: FM.
13:06 (IST), FEB 01
For income between Rs 7.5-10 lakh, the tax rate has been reduced 15%: FM
13:06 (IST), FEB 01
Similarly, for income between Rs 10-12.5 lakh, the tax rate is currently 30%. This has now been bought down to 20%: FM
13:07 (IST), FEB 01
FM Sitharaman announces major relief for taxpayers
13:08 (IST), FEB 01
Tax rate of 30% on income above Rs 15 lakh will be continued: FM
13:13 (IST), FEB 01
The new income tax rates will be optional: FM

13:14 (IST), FEB 01
Those earning up to Rs 5 lakh in a year will pay no tax: FM

13:15 (IST), FEB 01
Rs 40,000 crore per annum will be revenue foregone from new income tax rates for individuals, says FM
13:15 (IST), FEB 01
A person earning Rs 15 lakh per annum and not availing any deductions will now pay Rs 1.95 lakh tax in place of Rs 2.73 lakh: FM
13:20 (IST), FEB 01
Dividend Distribution Tax shifted to individuals instead of companies, says FM

13:20 (IST), FEB 01
Govt proposes 100% tax concession to sovereign wealth funds on investment in infra projects

13:20 (IST), FEB 01
Concessional tax rate of 15% extended to power generation companies

13:22 (IST), FEB 01
In a boost to MSMSEs, turnover threshold for audit raised to Rs 5 crore from Rs 1 crore: FM
13:24 (IST), FEB 01
Affordable housing tax breaks extended by one year
13:30 (IST), FEB 01
Tax on Cooperative societies proposed to be reduced to 22 per cent plus surcharge and cess, as against 30 per cent at present, says FM

13:30 (IST), FEB 01
Govt extends additional Rs 1.5 lakh tax benefit on interest paid on affordable housing loans to March 2021


13:31 (IST), FEB 01
Meanwhile, Sensex plunges nearly 600 points


13:33 (IST), FEB 01
Income Tax Act to be amended to allow faceless appeals against tax orders on lines of faceless assessment: FM


13:33 (IST), FEB 01
FM proposes scheme to bring down litigation in direct taxation scheme; 4.83 lakh direct cases pending in various appellate forums


13:34 (IST), FEB 01
‘Vivad se Vishwas’ scheme for direct tax payers whose appeals are pending at various forum, says FM


13:37 (IST), FEB 01
Direct taxes are lowest, simplest and smoothest, says FM


13:39 (IST), FEB 01
Custom duty raised on footwear and furniture: FM

13:40 (IST), FEB 01
FM announces health cess on import of medical equipment

13:41 (IST), FEB 01
 FM stated- To ease allotment of PAN, new process of instantly allotting PAN through Aadhaar will be brought

13:44 (IST), FEB 01
FM Sitharaman concludes her speech

Thank you !

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