- Budget-2020 – 20% reduction in turn around time for trucks.
- The benefit to MSMEs through the enhanced threshold and composition limits
- Savings of about 4% of monthly spending for an average household
- In the last 2yr, 60 lakh new taxpayers added and 105 crores E-way bill Generated.
- Digital Governance
- Improve the physical quality of life through national infrastructure pipeline
- Disaster resilience
- Social security through pension and insurance penetration
Governance guided by “Sabka Saath, Sabka Vikas, Sabka Vishwas” with focus on:
- Preventive Healthcare: Provision of sanitation and water
- Healthcare: Ayushman Bharat
- Clean energy: Ujjawala and Solar Power
- Financial Inclusion Credit support and Pension Financial Inclusion, Credit support and Pension
- Affordable Housing
- Digital penetration
FINANCIAL SECTOR – Budget-2020
- Deposit Insurance Coverage to increase from `1 lakh to `5 Lakh per depositor.
- Eligibility limit for NBFCs for debt recovery under SARFAESI The act proposed to be reduced to asset size of `100 crores or loan size of `50 lakh.
- Proposal to sell balance holding of government in IDBI Bank Proposal to sell balance holding of government in IDBI Bank.
- Separation of NPS Trust for government employees from PFRDAI.
- Specified categories of government securities would be opened Specified categories of government securities
for non-resident investors
- FPI Limit for corporate bonds to be increased to 15 %
- New debt ETF proposed mainly for government securities.
Tax proposals – Budget-2020
- Corporate tax rate of 15% to new domestic companies in the manufacturing and power sector.
- Tax for sovereign wealth fund of foreign governments and other foreign investments.
- Tax benefits to Start-ups by way of deduction of 100% of their profits are enhanced by increasing turnover limit and period of eligibility.
- The concessional tax rate for cooperatives proposed.
- The turnover threshold for an audit of MSMEs increased.
- Extension of time limits pertaining to the tax benefits for affordable housing.
- Issuance of Unique Registration Number to all charity institutions for easy tax compliance.
- Health cess to be imposed on imports of medical equipment
Agriculture, Irrigation and Rural Development
PM KUSUM Yojana has cover 20 lakh farmers for stand-alone solar pumps and further 15 lakh for the grid is planned for connecting pumps.
- creation of efficient warehouses on PPP mode.
- SHG Vill t h SHGs run Village storage scheme to be launch.
- Integration of e-NWR with e-NAM.
“Kisan Rail” and “Krishi Udaan” to be launch by Indian Railways and Ministry of Civil Aviation
The fish Production target of 200 lakh tonnes by 2022-23.
Education and Skills – Budget-2020
- 150 higher educational institutions will start apprenticeship embedded courses.
- Internship opportunities to fresher engineers by urban local area students
- Special bridge courses to improve skill sets of those seeking employment abroad.
- Degree level in online education programs for students of deprived sections of the society.
- Ind-SAT to conduct in Asia and Africa under Study in India 2019-20 (RE) 2020-21 (BE)
- Knowledge Translation Clusters for emerging technology sectors 166, 168, 170, 172, 174, 176 Translation Clusters for emerging technology sectors
- Scaling up of Technology Clusters harboring testbeds and small scale manufacturing facilities.
- National Mission on Quantum Technologies and applications with an outlay of Rs.8000 crore proposed.
Industry, Commerce, and Investment
- Increasing the manufacturing of mobile phones, electronic equipment, and semiconductor packaging.
- National Technical Textiles Mission for a period of 4 years
- NIRVIK Scheme for higher export credit disbursement launched.
- Extension of invoice financing to MSMEs through TReDs.
- A scheme to provide subordinated debt for entrepreneurs of MSMEs
- Scheme anchored by EXIM Bank and SIDBI to handhold MSMEs in export markets.
National Logistics Policy to be launch
Roads – Development of Highways.
Railways – Four station redevelopment projects
150 passenger trains through PPP mode.
More Tejas type trains for tourist destinations.
Port – Corporatizing at least one major port.
Air – more than 100 airports to develop under UDAAN.
For More Info and Details on Budget-2020 Check Here – 2Acts.in