Live Updates: Union Budget-2020 By Finance Minister Nirmala Sitharaman
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 pumps– FM 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
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
FM Sitharaman– 100 more airports to be developed by 2024. Will introduce more Tejas-like trains
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
FM announces Rs 20,000 crore for the renewable energy sector
Govt plans to expand gas grid: FM
Government has harnessed new technology to enable Direct Benefit Transfers on a scale like never before: FM
One lakh gram panchayats will be connected to the optical fibre programme: FM
FM proposes Rs 8,000 crore outlay over 5 years for National Mission of Quantum Technology and Application
Rs 1.7 lakh crore provided for transport infrastructure in 2020-21
Over 6 lakh anganwadi workers have been equipped with smartphones to upload the nutrition status of 10 crore households: FM
Propose to provide Rs 35,600 crore for nutrition-related programmes in 2020-21: FM
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
FM allocates Rs 9,000 crore for senior citizens
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
FM Sitharaman-Ayushman Bharat hospitals in 100 more districts
In large cities with population of over 1 million, clean air is a matter of
Govt proposes to encourage and incentivize states that are formulating plans for ensuring cleaner air: FM
Rs 4,400 crore allocation for clean air: FM
12:30 (IST), FEB 01
National security is the top priority of the government: FM
National security is the top priority of the government: FM
Promoting ease of living is the goal of Modi government: FM
We wish to enshrine in the statue a taxpayers’ charter: FM
Would like to reassure taxpayers that we remain committed to taking measures to eliminate tax harassment: FM
Taxpayers’ charter to be institutionalized- Stated by FM Sitharaman
Propose to set up a national recruitment agency for conduct of computer-based online common eligibility test for recruitment to non-gazetted post: FM
India has a firm framework related to contracts act, we aim to strengthen it: FM
Rs 100 crore to be allocated for G20 preparations: FM
A robust mechanism is in place to monitor the health of all scheduled commercial banks. The deposited money of individuals is absolutely safe: FM
Insurance cover for a depositor will be raised to Rs 5 lakh from Rs 1 lakh: FM
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
Non-residents can invest in certain government securities: FM Sitharaman
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
GDP nominal growth has been estimated at 10%: FM
We estimate a fiscal deficit of 3.8%: Sitharaman
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
Presently, an individual pays 20% of tax on income between Rs 5-10 lakh and 30% on income beyond Rs 10 lakh
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.
For income between Rs 7.5-10 lakh, the tax rate has been reduced 15%: FM
Similarly, for income between Rs 10-12.5 lakh, the tax rate is currently 30%. This has now been bought down to 20%: FM
FM Sitharaman announces major relief for taxpayers
Tax rate of 30% on income above Rs 15 lakh will be continued: FM
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
Rs 40,000 crore per annum will be revenue foregone from new income tax rates for individuals, says FM
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
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
In a boost to MSMSEs, turnover threshold for audit raised to Rs 5 crore from Rs 1 crore: FM
Affordable housing tax breaks extended by one year
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
Leave a Reply