Budget 2020 Updates: Income tax 10 percent on 7.5 lac Income

New Delhi:Finance Minister Nirmala Sitharaman is presenting the second full-fledged budget of the Modi Government 2.0. The government is facing a stiff challenge of  Taxpayers and Investors waiting for the annoncement that will boost their moral.

• No Mat on Corporate society
• Infra fund investor will get 100 pc exemption
• Govt removed Dividend distribution tax from companies and imposed it on share holders
• New tax regime for income of 15 lac
• Tax payer from income 5 to 7.5 have to pay 10 percent instead of 20 percent
• Companies Act to be amended to decriminalise civil offences
• LIC IPO soon.
• Govt to sell in stack in IDBI
• Deposit insurance in banks increases to 5lac from 1 lac
• National recruitment agency will be created for psu bank recruitment in every district.
• No tax harrasment tolerated
• FM proposes budget provision of Rs 85,000 crore in 2020-21 for welfare of SC and other backward classes.
•  Govt provides Rs 53,700 crore for development and welfare of Scheduled Tribes: 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
•  I propose to provide Rs 22000 crores to power and renewable energy sector in 2020-21
• FM proposes setting up of a large solar-powered capacity alongside rail tracks.
• Delhi-Mumbai expressway and two other projects will be completed by 2023
• FM proposes Rs 27,300 crore for the development and promotion of industry and commerce in 2020-21
• Scheme focused on encouraging the manufacturing of mobile phones and electrical equipment
• Jan Aushadhi Kendras in all districts of country to provide medicines at affordable rates
• FM proposes to expand Jan Aushadhi Kendras in all districts of country to provide medicines at affordable rates
• Anti-TB campaign to be launched to eliminate TB by 2025
• New courses will be introduced in 150 universities by 2026.
• Introduction of ‘Ind-SAT’, an exam for Asian and African countries to help make India a higher education destination.
• Medical college to be attached to each district hospital under PPP model.
• Degree-level full-fledged online education programme to be offered by the top 100 institutions.
• New Education Policy soon.
• We have approved Rs 3.6 lakh crore for Jal Jeevan Mission to provide safe drinking water to rural India
• The total allocation for Swachh Bharat Mission is Rs 12,300 crore
• Additional Rs 69,000 crore for the health sector.
• ‘Jal Jeevan Mission’ and sanitation programme ‘Swachh Bharat Yojna’ have been launched to tackle health concern.
• Agricultural credit target has been set at Rs 15 lakh crores
• Will set up Kisan rail so that farm goods can be quickly transported across the country: FM
• Farmers to get 20lac solar pumps.
• PM Modi and Home Minister Amit Shah reaches parliament.
• Finance Minister Nirmala Sitharaman alongwith MoS Anurag Thakur reaches at parliament.
• Cabinet is meeting before budget presentation.
• Earlier FM Nirmala Sitharaman, MoS Anurag Thakur and the Finance Ministry team meet President of India Ram Nath Kovind at Rashtrapati Bhawan. Watch live: https://youtu.be/NqLekhkNxi4