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Test Number : E20-575
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: 66 Dumps Questions

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Union funds 2020: Key highlights of FM Nirmala Sitharaman's speech | E20-575 Dumps and true test Questions with VCE rehearse Test

Union Budget 2020: Key highlights of FM Nirmala Sitharaman's speechproposing the first Union budget of the third decade of twenty first century, Finance Minister Smt. Nirmala Sitharaman, today unveiled a sequence of some distance-attaining reforms, aimed at energizing the Indian economic system through a fuse of brief-time period, medium-time period, and long-term measures.

the key Highlights of Union budget 2020-21 are as follows:

Three admired topic matters of the funds

  • Aspirational India - more advantageous specifications of residing with entry to health, training and more advantageous jobs for vulgar sections of the society
  • economic pile for vulgar - “Sabka Saath , Sabka Vikas , Sabka Vishwas”.
  • Caring Society - each compassionate and compassionate; Antyodaya as an article of religion.
  • Three extensive issues are held together by using:
  • Corruption free, coverage-driven respectable Governance.
  • clear and sound financial sector.
  • Ease of live underlined by the three issues of Union budget 2020-21.
  • Three components of Aspirational India
  • Agriculture, Irrigation, and bucolic building
  • well being, Water, and Sanitation
  • Sixteen action elements for Agriculture, Irrigation and bucolic building
  • Rs. 2.eighty three lakh crore to live allocated for here sixteen action aspects:
  • Rs. 1.60 lakh crore for Agriculture, Irrigation & allied activities.
  • Rs. 1.23 lakh crore for bucolic pile & Panchayati Raj. -
  • Rs. 15 lakh crore goal set for the 12 months 2020-21.
  • PM-KISAN beneficiaries to live coated below the KCC scheme.
  • NABARD Re-finance Scheme to live additional extended.
  • complete measures for one hundred water-stressed districts proposed.
  • Rs. 1 lakh crore fisheries’ exports to live finished by passage of 2024-25.
  • 200 lakh tonnes fish construction targeted by means of 2022-23.
  • 3477 Sagar Mitras and 500 Fish Farmer Producer companies to involve adolescence in fisheries extension.
  • growing of algae, sea-weed and cage tradition to live promoted.
  • Framework for development, management and conservation of marine fishery materials.
  • Kisan Rail to live setup by means of Indian Railways via PPP:
  • To build a seamless national glacial provide chain for perishables (milk, meat, fish, etc.
  • categorical and Freight trains to Have refrigerated coaches.
  • Krishi Udaan to live launched with the aid of the Ministry of Civil Aviation:
  • both foreign and country wide routes to live lined.
  • North-East and tribal districts to recognize enhanced expense of agri-items.
  • One-Product One-District for superior advertising and export in the Horticulture sector.
  • Balanced exhaust of vulgar kinds of fertilizers - natural biological and resourceful fertilizers.
  • Measures for biological, natural, and integrated farming:
  • Jaivik Kheti Portal – online countrywide organic items market to live strengthened.
  • Zero-budget natural Farming (outlined in July 2019 finances) to live protected.
  • integrated Farming methods in rain-fed areas to live extended.
  • Multi-tier cropping, bee-keeping, photo voltaic pumps, photo voltaic energy construction in non- cropping season to live brought.
  • 20 lakh farmers to live supplied for establishing stand-alone photo voltaic pumps.
  • a different 15 lakh farmers to live helped to solarise their grid-related pump units.
  • Scheme to permit farmers to set up photo voltaic energy era competence on their fallow/barren lands and to promote it to the grid.
  • To live Run with the aid of the SHGs to provide farmers a very first-rate holding skill and in the reduction of their logistics can charge.
  • women, SHGs to regain their residence as Dhaanya Lakshmi.
  • NABARD to map and geo-tag agri-warehouses, glacial storages, reefer van facilities, and so forth.
  • Viability cavity Funding for setting up such efficient warehouses on the block/taluk degree.
  • meals trade enterprise of India (FCI) and apposite Warehousing agency (CWC) to undertake such warehouse building.
  • Financing on Negotiable Warehousing Receipts (e-NWR) to live built-in with e-NAM.
  • State governments who undertake implementation of mannequin laws (issued by passage of the vital govt) to live inspired.
  • Doubling of milk processing competence to 108 million MT from fifty three.5 million MT by using 2025.
  • synthetic insemination to live increased to 70% from the latest 30%.
  • MNREGS to live dovetailed to advance fodder farms.
  • Foot and Mouth sickness, Brucellosis in cattle and Peste Des Petits ruminants (PPR) in sheep and goat to live eradicated by passage of 2025.
  • Deen Dayal Antyodaya Yojana – 0.5 crore households mobilized with 58 lakh SHGs for poverty alleviation.
  • wellness, Water and Sanitation
  • Rs. 69,000 crore allotted for typical Healthcare sector.
  • Rs. 6400 crore (out of Rs. 69,000 crore) for PM Jan Arogya Yojana (PMJAY):
  • more than 20,000 hospitals already empanelled beneath PM Jan Arogya Yojana (PMJAY).
  • Viability cavity Funding window proposed for setting up hospitals within the PPP mode.
  • Aspirational Districts and not using a Ayushman empanelled hospitals to live covered in the first phase.
  • targeting illnesses with an correctly designed preventive regime using machine researching and AI.
  • Jan Aushadhi Kendra Scheme to present 2000 drugs and 300 surgicals in vulgar districts by means of 2024.
  • TB Harega Desh Jeetega crusade launched - dedication to stop Tuberculosis with the aid of 2025.
  • Rs. three.60 lakh crore accredited for Jal Jeevan Mission:
  • Rs. eleven,500 crore for the yr 2020-21.
  • Augmenting aboriginal water sources, recharging latest sources, and promoting water harvesting and de-salination.
  • Cities with million-plus inhabitants to live encouraged to obtain the goal perquisite through the latest year itself.
  • Rs.12, 300 crore allocation for Swachh Bharat Mission in 2020-21:
  • Committment to ODF-Plus with a view to preserve ODF behaviour.
  • Emphasis on liquid and gray water management.
  • focal point furthermore on solid-waste collection, source segregation, and processing.
  • education and competencies
  • Rs. ninety nine,300 crore for training sector and Rs. 3000 crore for competence evolution in 2020- 21.
  • New schooling policy to live announced quickly.
  • national Police college and national Forensic Science institution proposed for policing science, forensic science, and cyber-forensics.
  • diploma degree full-fledged online training application with the aid of properly-100 associations in the countrywide Institutional ranking Framework.
  • up to 1-year internship to sparkling engineers to live provided through urban local their bodies.
  • price ambit proposes to attach a medical school to an latest district sanatorium in PPP mode.
  • particular bridge classes to live designed through the Ministries of health, and talent building:
  • to meet the claim for academics, nurses, para-medical cadaver of workers and care-givers abroad.
  • To usher in equivalence within the competence units of the personnel and employers’ requirements.
  • a hundred and fifty better academic institutions to genesis apprenticeship embedded diploma/diploma lessons with the aid of March 2021.
  • exterior commercial Borrowings and FDI to live enabled for education sector.
  • Ind-SAT proposed for Asian and African nations as Part of examine in India program.
  • economic building

    industry, Commerce and funding

  • Rs. 27,300 crore allocated for 2020-21 for pile and promoting of industry and Commerce.
  • investment Clearance mobilephone proposed to live set up:
  • To supply “conclusion to conclusion” facilitation and aid.
  • To work via a portal.
  • five new smart cities proposed to live developed.
  • Scheme to hearten manufacture of mobile phones, digital machine and semi- conductor packaging proposed.
  • country wide Technical Textiles Mission to live set up:
  • With 4-yr implementation duration from 2020-21 to 2023-24.
  • At an estimated outlay of Rs 1480 crore.
  • To residence India as a worldwide leader in Technical Textiles.
  • New scheme NIRVIK to live launched to obtain better export credit score disbursement, which offers for:
  • higher assurance coverage
  • reduction in premium for tiny exporters
  • Simplified technique for pretension settlements.
  • Turnover of government e-industry (GeM) proposed to live taken to Rs three lakh crore.
  • Scheme for Revision of tasks and taxes on exported products to live launched.
  • Exporters to live digitally refunded responsibilities and taxes levied on the central, situation and aboriginal stages, which can live in any other case now not exempted or refunded.
  • All Ministries to vicissitude fine universal orders as per PM’s vision of “Zero Defect-Zero impact” manufacturing.
  • Union Budget 2020: Key highlights of FM Nirmala Sitharaman's speech Infrastructure
  • hundred lakh crore to live invested on infrastructure over the next 5 years.
  • national Infrastructure Pipeline:
  • Rs. 103 lakh crore expense initiatives; launched on 31st December 2019.
  • greater than 6500 initiatives throughout sectors, to live categorised as per their dimension and stage of building.
  • A countrywide Logistics coverage to live released soon:
  • To create lucid roles of the Union govt, situation Governments and key regulators.
  • A solitary window e-logistics market to live created
  • center of attention to live on technology of employment, edge and making MSMEs competitive.
  • country wide competence evolution company to provide special thrust to infrastructure-focused skill evolution alternatives.
  • mission practise facility for infrastructure tasks proposed.
  • To actively involve young engineers, management graduates and economists from Universities.
  • Infrastructure businesses of the government to involve formative years-energy in beginning-ups.
  • Rs.1.7 lakh crore proposed for transport infrastructure in 2020-21.
  • Union Budget 2020: Key highlights of FM Nirmala Sitharaman's speechRs.1.7 lakh crore proposed for transport infrastructure in 2020-21.


  • Accelerated evolution of highways to live undertaken, together with:
  • 2500 Km entry exploit highways.
  • 9000 Km of economic corridors.
  • 2000 Km of coastal and land port roads.
  • 2000 Km of strategic highways.
  • Delhi-Mumbai parkway and two other packages to live accomplished through 2023.
  • Chennai-Bengaluru throughway to live begun.
  • Proposed to monetise at least 12 lots of motorway bundles of over 6000 Km before 2024.
  • Indian Railways:

  • large solar vigour capacity to live deploy alongside rail tracks, on land owned through railways.
  • four station re-building tasks and operation of one hundred fifty passenger trains via PPP.
  • extra Tejas category trains to link iconic tourist destinations.
  • high hurry educate between Mumbai and Ahmedabad to live actively pursued.
  • 148 km long Bengaluru Suburban transport mission at a value of Rs 18600 crore, to Have fares on metro mannequin. valuable executive to provide 20% of equity and facilitate exterior suggestions up to 60% of the venture charge.
  • Indian Railways’ achievements:
  • 550 Wi-fi facilities commissioned in as many stations.
  • Zero unmanned crossings.
  • 27000 Km of tracks to live electrified.
  • Ports & Water-techniques:
  • Corporatizing at least one fundamental port and its list on inventory exchanges to live considered.
  • Governance framework maintaining with world benchmarks mandatory for more efficient sea- ports.
  • economic recreation along river banks to live energised as per prime Minister’s Arth Ganga
  • idea.


  • one hundred more airports to live developed with the aid of 2024 to abet Udaan scheme.
  • Air fleet quantity anticipated to accelerate up from current 600 to 1200 during this time.
  • electrical energy:
  • “smart” metering to live promoted.
  • greater measures to reform DISCOMs to live taken.
  • power:
  • Rs.22, 000 crore proposed for vigour and renewable energy sector in 2020-21.
  • expansion of national gas grid from the present 16200 km to 27000 km proposed.
  • additional reforms to facilitate lucid expense discovery and ease of transactions.
  • New financial system
  • To remove skills of latest technologies:
  • coverage to enable deepest sector to build information Centre parks vulgar the passage through the nation to live brought out soon.
  • Fibre to the home (FTTH) connections through Bharatnet to link 100,000 gram panchayats this yr.
  • Rs.6000 crore proposed for Bharatnet programme in 2020-21.
  • Measures proposed to improvement delivery-ups:
  • A digital platform to live promoted to facilitate seamless software and catch of IPRs.
  • competencies Translation Clusters to live installation throughout distinctive technology sectors together with new and emerging areas.
  • For designing, fabrication and validation of proof of thought, and extra scaling up technology Clusters, harbouring check beds and tiny scale manufacturing amenities to live dependent.
  • Mapping of India’s genetic landscape- Two new national degree Science Schemes to live initiated to create a complete database.
  • early life funding proposed, including a seed fund to sheperd ideation and pile of early stage birth-ups.
  • Rs.8000 crore proposed over 5 years for country wide Mission on Quantum applied sciences and purposes.
  • Caring Society
  • ladies & baby,
  • Social Welfare;
  • subculture and Tourism
  • Allocation of Rs. 35,600 crore for nutrition-related programmes proposed for the FY2020-21.
  • Rs.28, 600 crore proposed for women particular courses.
  • challenge about age of a lady getting into motherhood - proposed to nominate a role drive to existing its thoughts in six months’ time.
  • economic support for wider acceptance of technologies, recognized by Ministry of Housing and concrete Affairs to live positive no sheperd cleansing of sewer programs or septic tanks, to live supplied.
  • Rs. 85, 000 crore proposed for 2020-21 for welfare of Scheduled Castes and different Backward courses.
  • Rs. 53, seven-hundred crore supplied to further pile and welfare of Scheduled Tribes.
  • more suitable allocation of Rs. 9,500 crore provided for 2020-21 for senior residents and Divyang.
  • lifestyle & Tourism
  • Allocation of Rs. 2500 crore for 2020-21 for tourism promotion.
  • Rs.3150 crore proposed for Ministry of subculture for 2020-21.
  • An Indian Institute of heritage and Conservation under Ministry of lifestyle proposed; with the fame of a deemed tuition.
  • 5 archaeological websites to live developed as iconic websites with on-website Museums:
  • Rakhigarhi (Haryana)
  • Hastinapur (Uttar Pradesh)
  • Shivsagar (Assam)
  • Dholavira (Gujarat)
  • Adichanallur (Tamil Nadu)
  • Re-curation of the Indian Museum in Kolkata, introduced by top Minister in January 2020.
  • Museum on Numismatics and exchange to live determined within the historic aged Mint constructing in Kolkata.
  • 4 greater museums from throughout the nation to live taken up for renovation and re-curation.
  • guide for setting up of a Tribal Museum in Ranchi (Jharkhand).
  • Maritime museum to live installation at Lothal- the Harrapan age maritime web page nearby Ahmedabad, by passage of Ministry of delivery.
  • State governments expected to boost a roadmap for inescapable identified destinations and formulate fiscal plans vulgar over 2021 towards which precise can provide to live made purchasable to the States in 2020-21.
  • ambiance & climate alternate
  • Allocation for this aim to live Rs.4400 crore for 2020-21.
  • Proposed to imply the utilities to shut the operating ancient thermal power plants with carbon emission above the pre-set norms.
  • States that are formulating and enforcing plans for making inescapable cleaner air in cities above one million to live inspired.
  • PM launched Coalition for catastrophe Resilient Infrastructure (CDRI) with Secretariat in Delhi. second such international initiative after foreign solar Alliance.
  • Governance
  • clear, corruption-free, policy driven, first-rate in intent and most importantly trusting in faith.
  • Taxpayer charter to live enshrined in the Statute will carry equity and efficiency in tax administration.
  • corporations Act to live amended to build into statues, crook legal responsibility for inescapable acts which are civil in nature.
  • different legal guidelines with such provisions are to live corrected after examination.
  • principal reforms in recruitment to Non-Gazetted posts in govt and Public sector banks:
  • An impartial, expert and specialist countrywide Recruitment agency (NRA) for conducting a laptop-based online ordinary Eligibility verify for recruitment.
  • A examine-centre in each district, notably within the Aspirational Districts.
  • a sturdy mechanism to live evolved for appointment together with direct recruitment to a considerable number of Tribunals and specialised bodies to attract top-quality capabilities and professional experts.
  • Contract Act to live reinforced.
  • New national coverage on professional information to:
  • Promote exhaust of latest technologies together with AI.
  • Lay down a road-map against modernised facts collection, built-in counsel portal and timely dissemination of assistance.
  • A sum of Rs. a hundred crore allotted to initiate the preparations for G20 presidency to live hosted in India in the 12 months 2022.
  • construction of North East area:
  • stronger circulate of cash the exhaust of online portal with the aid of the executive.
  • greater entry to fiscal counsel of Multilateral and Bilateral funding corporations.
  • building of Union Territories of J&k and Ladakh:
  • An amount of Rs. 30,757 crore offered for the fiscal 12 months 2020-21.
  • The Union Territory of Ladakh has been supplied with Rs. 5,958.
  • monetary Sector
  • Reforms completed in PSBs :
  • 10 banks consolidated into 4.
  • Rs. three,50,000 crore capital infused.
  • Governance reforms to live performed to bring in transparency and improved professionalism in PSBs.
  • Few PSBs to live encouraged to passage the capital market to elevate additional capital
  • Deposit coverage and credit ensure organization (DICGC) approved to enhance Deposit coverage coverage to Rs. 5 lakh from Rs.1 lakh per depositor.
  • Scheduled commercial financial institution’s health under monitoring via a robust mechanism, keeping depositors’ cash secure.
  • Cooperative Banks to live support by passage of amending Banking law Act for:
  • increasing professionalism.
  • Enabling access to capital.
  • improving governance and oversight for sound banking throughout the RBI.
  • NBFCs eligibility restrict for debt recovery reduced from:
  • Rs. 500 crore to Rs a hundred crore asset measurement.
  • Rs 1 crore to Rs 50 lakh mortgage size.
  • inner most capital in Banking equipment:
  • govt to sell its stability keeping in IDBI financial institution to deepest, retail and institutional investors during the inventory exchange.
  • Auto-enrolment in celebrated Pension insurance.
  • Inter-operability mechanism to guard the collected corpus.
  • Pension Fund Regulatory construction Authority of India Act to live amended to:
  • toughen regulating position of PFRDAI.
  • Facilitate separation of NPS Have assurance for government personnel from PFRDAI.
  • enable establishment of a Pension reliance by the personnel apart from govt.
  • element regulation Act 2011 to live amended to:
  • permit NBFCs to lengthen bill financing to the MSMEs via TReDS
  • New scheme to provide subordinate debt for entrepreneurs of MSMEs by means of the banks
  • Would count number as quasi-fairness.
  • would live totally assured during the credit ensure believe for Medium and tiny Entrepreneurs (CGTMSE).
  • The corpus of the CGTMSE would hence live augmented by using the executive.
  • Window for MSME’s debt restructuring via RBI to live extended by using one year till March 31, 2021.
  • more than 5 lakh MSMEs Have already been benefitted.
  • An app-based mostly invoice financing loans product for MSMEs to live launched.
  • To sustain away from the issue of delayed funds and consequential money flows mismatches.
  • Export advertising of MSMEs:
  • For chosen sector reminiscent of prescribed drugs, auto add-ons and others.
  • An Rs a thousand crore scheme anchored through EXIM financial institution at the side of SIDBI.
  • Hand maintaining aid for know-how upgradations, R&D, enterprise strategy and so on.
  • monetary Market
  • definite distinctive classes of govt securities to live opened wholly for non - resident buyers additionally.
  • FPI restrict in corporate bonds multiplied to fifteen% from 9% of its incredible stock.
  • New law to live formulated for laying down a mechanism for netting of monetary contracts.
  • Scope of credit default swaps to expand.
  • Debt primarily based alternate Traded Fund expanded by a new Debt-ETF consisting basically of executive Securities.
  • To supply attractive entry to retail buyers, pension funds and long-term traders.
  • A Partial credit ensure scheme for the NBFCs formulated reserve up the Union funds 2019-20 to tackle their liquidity constraints.
  • New mechanism to live devised to further this.
  • executive abet to securities so floated.
  • Infrastructure Financing
  • Rs.103 lakh crore country wide Infrastructure Pipeline tasks prior introduced.
  • Rs 22,000 crore to cater to the fairness sheperd to Infrastructure Finance businesses similar to IIFCL and a subsidiary of NIIF.
  • IFSC, reward metropolis: crammed with expertise to develop into a centre of overseas finance as well as a centre for top stop statistics processing:
  • a world Bullion trade(s) to live installation as an further preference for change by international market participants with the approval of regulator.
  • Disinvestment
  • government to sell Part of its retaining in LIC by the exhaust of introductory Public present (IPO).
  • Fiscal management
  • XV Finance fee (FC):
  • XV Finance commission has given its first record for FY2020-21
  • options permitted in tremendous measure
  • Its closing report for 5 years genesis 2021-22 to live submitted vulgar over the latter a Part of the yr.
  • Balances due out of assortment of the years 2016-17 and 2017-18 to live transferred to the Fund, in two instalments.
  • Hereinafter, transfers to the fund to live limited most effective to collection by the exhaust of GST compensation cess.
  • Overhaul of Centrally subsidized Schemes and critical Sector Schemes critical:
  • To align them with emerging social and financial needs of day after today
  • To create positive that scarce public substances are spent optimally
  • On the fresh debate over transparency and credibility of projected fiscal numbers, it is guaranteed that process adopted is compliant with the FRBM Act.
  • Revised Estimates of Expenditure: at Rs.26.ninety nine lakh crore
  • Revised Estimates of Receipts: estimated at Rs.19.32 lakh crore.
  • Nominal augment of GDP estimated at 10%.
  • Receipts: estimated at Rs.22.forty six lakh cr
  • Expenditure: at Rs.30.42 lakh cr.
  • colossal tax reforms for enhancing investments these days undertaken. youngsters, anticipated tax buoyancy anticipated to remove time.
  • Fiscal deficit of three.8% estimated in RE 2019-20 and three.5% for live 2020-21. It includes two parts;
  • 3.three% for yr 2019-20 and 3% for the 2020-21 budget estimate.
  • Deviation of 0.5%, per section four(three) of FRBM Act, both for RE 2019- 20 and live 2020-21. (part 4 (2) of the FRBM Act offers for a trigger mechanism for a divergence from the estimated fiscal deficit due to structural reforms within the economy with unanticipated fiscal implications.)
  • Return course, committing to fiscal consolidation with out compromising wants of funding out of public dollars, is laid in Medium term Fiscal policy cum approach remark.
  • Market borrowings: net market borrowings: Rs.four.ninety nine lakh crore for 2019-20 and Rs.5.36 lakh crore for 2020-21.
  • an outstanding a Part of the borrowings for the economic 12 months 2020-21 to accelerate against Capital expenditure that has been scaled up via greater than 21%.
  • Union Budget 2020: Key highlights of FM Nirmala Sitharaman's speech

    Direct Tax

    Direct Tax Proposals - To stimulate boom, simplify tax structure, convey ease of compliance, and in the reduction of litigations.

  • colossal aid to hub category taxpayers.
  • New and simplified very own income tax regime proposed:
  • Taxable salary Slab (Rs.) current tax rates New tax fees 0-2.5 Lakh Exempt Exempt 2.5-5 Lakh 5% 5% 5-7.5 Lakh 20% 10% 7.5-10 Lakh 20% 15%
  • 10-12.5 Lakh
  • 30% 20% 12.5-15 Lakh 30% 25% Above 15 Lakh 30% 30%
  • around 70 of the current exemptions and deductions (more than a hundred) to live eliminated in the new simplified regime.
  • closing exemptions and deductions to live reviewed and rationalised in coming years.
  • New tax regime to live not obligatory - an individual may additionally continue to pay tax as per the aged regime and avail deductions and exemptions.
  • Measures to pre-fill the revenue tax return initiated so that a person who opts for the new regime gets pre-filled salary tax returns and would want no counsel from an expert to pay salary tax.
  • New regime to entail estimated profits forgone of Rs. 40,000 crore per yr.
  • Tax expense of 15% extended to new electricity generation corporations.
  • Indian company tax rates now amongst the bottom on earth.
  • Dividend Distribution Tax (DDT):
  • DDT removed making India a more alluring investment destination.
  • Deduction to live allowed for dividend got by preserving trade from its subsidiary.
  • Rs. 25,000 crore estimated annual profits forgone.
  • delivery-united stateswith turnover up to Rs. 100 crore to savor one hundred% deduction for three consecutive assessment years out of 10 years.
  • Tax expense on ESOPs deferred.
  • MSMEs to augment less-money economic climate:
  • Turnover threshold for audit improved to Rs. 5 crore from Rs. 1 crore for companies engaging in under 5% company transactions in money.
  • Parity introduced between cooperatives and company sector.
  • alternative to cooperative societies to live taxed at 22% + 10% surcharge and four% cess with out a exemption/deductions.
  • Cooperative societies exempted from Alternate minimal Tax (AMT) identical to companies are exempted from the minimum Alternate Tax (MAT).
  • Tax concession for foreign investments:
  • one hundred% tax exemption to the pastime, dividend and capital advantageous properties salary on funding made in infrastructure and precedence sectors before thirty first March, 2024 with a minimum lock-in length of three years by the Sovereign Wealth Fund of foreign governments.
  • additional deduction up to Rs. 1.5 lakhs for pastime paid on loans taken for a cheap apartment prolonged till 31st March, 2021.
  • Date of approval of low-cost housing tasks for availing tax crash on earnings earned by builders prolonged till 31st March, 2021.
  • Tax Facilitation Measures
  • speedy PAN to live dispensed online through Aadhaar.
  • ‘Vivad Se Vishwas’ scheme, with a closing date of thirtieth June, 2020, to in the reduction of litigations in direct taxes:
  • Waiver of activity and penalty - handiest disputed taxes to live paid for payments till thirty first March, 2020.
  • extra quantity to live paid if availed after 31st March, 2020.
  • advantages to taxpayers in whose situations appeals are pending at any level.
  • Faceless appeals to live enabled through amending the revenue Tax Act.
  • For charity institutions:
  • Pre-filling in return through guidance of donations furnished by the performed.
  • procedure of registration to live made fully electronic.
  • pleasing registration number (URN) to live issued to vulgar new and existing charity institutions.
  • Provisional registration to live allowed for brand spanking new charity associations for three years.
  • CBDT to adopt a Taxpayers’ constitution.
  • Amendments proposed to the revenue-tax Act to live positive that entities improvement from unabsorbed losses and depreciation of the amalgamating entities.
  • oblique Tax
  • cash reward device envisaged to incentivise valued clientele to are searching for bill.
  • Simplified return with points like SMS based filing for nil return and more advantageous input tax credit score accelerate to live implemented from 1st April, 2020 as a pilot run.
  • Dynamic QR-code taking pictures GST parameters proposed for client invoices.
  • digital bill to trap essential suggestions in a centralized paraphernalia to live applied in a phased method.
  • Aadhaar based mostly verification of taxpayers being added to weed out dummy or non-existent gadgets.
  • GST fee structure being deliberated to tackle inverted responsibility structure.
  • Customs duty raised on footwear to 35% from 25% and on furnishings items to 25% from 20%.
  • basic customs duty on imports of information print and light-weight-weight lined paper decreased from 10% to 5%.
  • Customs duty costs revised on electric powered automobiles and constituents of mobiles.
  • 5% health cess to live imposed on the imports of scientific gadgets, except those exempt from BCD.
  • reduce customs duty on inescapable inputs and uncooked substances like fuse, chemical compounds, and plastics.
  • greater customs duty on inescapable goods like auto-constituents, chemicals, etc. which can live additionally being made domestically.
  • Customs Act being amended to permit usurp exams of imports beneath FTAs.
  • guidelines of root necessities to live reviewed for inescapable sensitive items.
  • Provisions regarding safeguard tasks to live reinforced to allow regulating such surge in imports in a scientific means.
  • Provisions for checking dumping of items and imports of subsidized goods being strengthened.
  • information for experiences of exemptions from customs responsibility to live crowd-sourced.
  • Excise duty proposed to live raised on Cigarettes and different tobacco items, no alternate made within the responsibility costs of bidis.
  • Anti-dumping duty on PTA abolished to edge the textile sector.
  • unprecedented Milestones and Achievements of Indian economy
  • India now the fifth biggest economic climate of the world.
  • 7.four% commonplace growth clocked vulgar the passage through 2014-19 with inflation averaging around 4.5%.
  • 271 million people raised out of poverty perquisite through 2006-16.
  • India’s international Direct funding expanded to US$ 284 billion vulgar the passage through 2014-19 from US$ 190 billion vulgar over 2009-14.
  • significant government debt reduced to forty eight.7% of GDP (March 2019) from fifty two.2% (March 2014).
  • Two pass-chopping trends:
  • Proliferation of applied sciences (Analytics, computing device gaining knowledge of, robotics, Bio- informatics and synthetic Intelligence).
  • optimum ever number of individuals in the productive age neighborhood (15-65 years) in India.
  • GST removed many bottlenecks in the system.
  • Future purpose for sustaining India’s pleasing world leadership, pushed via Digital Revolution
  • Seamless genesis of services via Digital Governance.
  • growth in physical remarkable of lifestyles via countrywide Infrastructure Pipeline.
  • possibility mitigation through catastrophe Resilience.
  • Social security through Pension and coverage penetration.
  • Union Budget 2020: Key highlights of FM Nirmala Sitharaman's speechUnion Budget 2020: Key highlights of FM Nirmala Sitharaman's speech



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