Discover and read the best of Twitter Threads about #Budget2020

Most recents (24)

The @GOPunjabPK recently announced Provincial Budget with total estimate of revenues as Rs 2,240.63bn & expenditure as Rs2115.63bn. A thread on major highlights of the budget.
A total of Rs 336.5bn was allocated for School Education Department.
#Pakistan #economy #Punjab
The Health Care Department was allocated Rs 134 bn by the #Punjab Government.

#Pakistan #Budget2021 #PunjabBudget2020 #CoronaBudget
Irrigation Department received 45bn out of the total #Budget .

#Pakistan #Budget2021 #economy #PunjabBudget2020
Read 7 tweets
#Budget2020 amid so many speculations about budget dedicated for defence, luxurious life style of officers and so many myths. without giving minute details let me clarify few misconceptions which are being propagated by those who work on agendas and pollute minds of common 1/n
man while creating rift between army and Thier origin (civilian).
1. Not more than 10 % officers reach the rank of brigadier that is BPS 20. ratio as compared to civil services is very low where about 70 % officers reach this pay scale.
2. About 2% officers becomes 2/n
Major Gen and this % further reduced to decimal points for Lt Gen. Those who rise to this rank are just based on personal brilliance and dedication to profession. It has nothing to do with background, as generally perceive son of general will become one. Not that sons of civ 3/n
Read 18 tweets
#PTI govt unveils corona-influenced #budget
Follow our live updates here: newslab.tribune.com.pk/budget-2020-21/
HAPPENING NOW: When we assumed leadership, current account deficit was Rs20b, circular debt was Rs1200b, rupee was kept inflated and SBP reserves fell from Rs18b to below Rs10b," says Federal Minister of Industries & Production Hammad Azhar while presenting #Budget2021
No measures had been taken to combat money laundering, says Azhar. "We took key decisions to stabilise the economy and we saw improvement in key indicators."
Current account deficit was brought down, trade deficit contracted 21 per cent, he adds while presenting #Budget2021
Read 13 tweets
#PSDP2020_21 #Pakistan
#ImranKhan4Karachi

Thank you pm @ImranKhanPTI
Minister @PlanComPakistan
Sir @Asad_Umar

New Schemes #Karachi

1) Rs 500 Million >> Construction of Interchange over Malir Link Road to M-9 at KM 13+050
2) Rs 44 Million >> Construction of Road over Malir Bund
from Dada Bhoy Town / Expressway upto
Limits of PNS Mehran, District East,
#Karachi (Remaining Portion)

#PSDP2020_21 #ImranKhan4Karachi
3) Rs 217.90 Million >> Improvement / Rehabilitation of Different
Roads / Streets including Water &
Sewerage System at District East,
#Karachi

#PSDP2020_21
Read 14 tweets
Watch Live: Union Finance Minister @nsitharaman addressing a Press Conference.

#AtmaNirbharBharat twitter.com/i/broadcasts/1…
@nsitharaman After PM's address to the nation on building an #AatmaNirbharBharat, we have been announcing details of the stimulus Govt. feels it should provide to the economy and our people.
- FM @nsitharaman
#AatmaNirbharEconomy
@nsitharaman PM had said that we should prepare for tough competition. When we speak of #AatmaNirbharBharat, we are not looking inwards, it is not isolationist policy, it is making India rely on its strengths, ready to face global challenges
- FM @nsitharaman
#AatmaNirbharEconomy
Read 53 tweets
THREAD: Tomorrow's #RebuildingTogether Budget will be a defining moment for New Zealand, and for Jacinda Ardern's Govt because it will have impacts for generations to come.

#nzpol #budget2020 #GreenCovidResponse #BuildBackBetter #ClimateChange
greenpeace.org/new-zealand/ca…
We're looking for Govt to prioritise future-ready projects over 'shovel-ready' in the Covid recovery Budget. With unprecedented sums on the table, we have a once-in-a-lifetime chance to get a jump on the other existential crises we face.
Jobs are a priority, but they need to be created in the right industries. We need more people working in growth areas like renewable energy, sustainable transport and #regenerativeagriculture, which have a clear future in a post-#Covid19 world.
Read 12 tweets
The coronavirus is showing #Nigeria up in a big way.

Government revenues have entered the toilet and are unlikely to come out soon.

So much so that @NigeriaGov wants to seize #COVIDー19 donations and use them to fund #budget2020 bit.ly/2WsoeaR
The move to divert #COVIDー19 donations to #budget2020 is rather shortsighted if you think about it, but here we are, and it is all as a result of government laziness and it shows that all the talk of wanting to diversify the economy is nonsense.
The numbers bear this out, #Nigeria's economy is already diversified.

Oil is 7.32% of GDP.
Agric is 21.2%.
Industry outside oil is 18.5%.
Services are 52%.

I wrote in detail about it in today's @BusinessDayNg bit.ly/3borhoz
Read 17 tweets
Undoubtedly, #GE2019 was a shock. To an extent, Cummings & co seemed to have found a magic formula (and a slogan). But look how short lived it was. The last couple of days have been a case study of how out of touch the @Conservatives are in reality. Three big signs: (1/5)
1. The idea that you could, as the Government, advise people to avoid pubs etc, whilst pulling the rug from under the owners. The sheer arrogance to think that small business people would be ok with being abandoned & fobbed off with the most woeful #Budget2020 measures. (2/5)
2. Ignoring completely the fact that small businesses are not just one-person operations, as if it was the Apprentice, but collectively the employers of millions. Whole Government response to #Corvid19uk ignored the workers, because to the @Conservatives, they hardly exist. (3/5)
Read 5 tweets
Here’s a thread on Northern Ireland’s connectivity.

(And also see my article for @NorthernSlant 👇) /1
With much talk of the recent #Flybe collapse and the #BorisBridge what is the future of transport in NI - how can we boost connectivity? /2
Why is connectivity so important?
📍Lack of infrastructure puts businesses and communities at a disadvantage
📍More infrastructure will boost NI in regional, national and global level and attract further financial investment /3
Read 23 tweets
Spring Budget 2020 - our overnight analysis is now live on our website. Here's a long thread of the some of the highlights. All 37 charts, and 59 pages of analysis, are available here resolutionfoundation.org/publications/s…
First, the @OBR_UK managed to be both incredibly grim, and unbelievably optimistic in its revised economic outlook. GDP is projected to rise by 7.3% over the forecast period - the second worst OBR forecast on record. And that's before the impact of coronavirus is included...
@OBR_UK Replacing the OBR GDP forecast for this year and next with the @OECD updated forecasts 0.8% growth this year and next would lower annual UK growth over the next five years to just 1.2% - the weakest growth outlook on record (from data going back to 1985)
Read 35 tweets
Potentially positive #Budget2020 for the built environment in light of the challenges in tackling #COVID19. Clearly further detail will be needed in the forthcoming construction and infrastructure strategies about how the additional funding will be spent.
#Budget2020 - We are pleased to see today’s announcement recognising the potential affects that #COVID19 will have on SMEs and acknowledge the government’s efforts to increase funding to help offset any costs incurred.
#Budget2020 - However, a significant number of construction workers are self-employed and therefore may not be covered by this investment. We encourage further advice and guidance for those who may be affected but not covered by this funding #COVID19.
Read 6 tweets
1) Long thread on why the Travel Industry in India is desperate to have the #TCSTax reconsidered....
#savetravelindustry
2/ The #travelindustry is made up of Hotels, Airlines, Travel Agents - who may specialise in Inbound or Outbound #Tours. Apart from a few big cos, most are small, owner led outfits with 8-10 employees servicing loyal clients
#savetravelindustry
3/Contrary to what is general perception, the margins in this business have shrunk to dismal levels for this extremely HR-heavy industry whilst expenses for fixed costs have gone sky-high
#savetravelindustry
Read 17 tweets
#Budget2020 measures on covid-19 are pretty thin gruel for people affected. SSP unchanged at £94/ week. For a full-time worker on minimum wage, this is a loss of income of around three quarters. Big opportunity missed to increase this and compensate business for the cost. (1/3)
At same time we estimate that ~7 million people aren't entitled to SSP - one in five workers. This just highlights how inadequate Universal Credit has become. At £73/ wk, the standard allowance is one fifth of full-time min wage. Today's budget increases it by £1.25. (2/3)
It's welcome that JCP will no longer require people with covid-19 to attend offices face to face to make a claim. But today mainly shows that our social insurance/ security system is increasingly patchy and threadbare. What happens if/ when we get a full-blown recession? (3/3)
Read 4 tweets
INSTANT ANALYSIS #Budget2020

Was 2 budgets in one-what he was going to deliver plus corona measures at the top

But corona merely accelerated the direction they were going in: a repudiation of much of Conservative economic analysis and framing for a decade.
Osborne and Sunak seemed as if they were from different parties.

Where Osborne once boasted of getting public spending under control Sunak boasted of mega spending.

Osborne once legislated for a budget surplus, today Sunak spent more than Darling in response to 2008.
But v impressive performance from Sunak. Rose to the challenge, assured. The volte face was an accomplished one.
Read 5 tweets
Our academics and researchers from across the College are providing their analysis of the #Budget2020. A thread 👇
Dr @AnaNMijic (@ImpEngineering) welcomes funding for flood defences, but highlights the challenge that large investments in road and housing infrastructure projects will increase pressures on the natural environment. Read her full comment: ow.ly/uPDL50yIStt #Budget2020 A quote from Dr Ana Mijic:
Dr @HarjoatBhamra (@ImperialBiz) said a budget focusing on ‘red wall issues’ will have to wait, as #COVID19 takes a higher priority. Read his full comment: ow.ly/uPDL50yIStt #Budget2020 A quote from Dr Harjoat Bhamra:
Read 8 tweets
1/ The government is taking action that is coordinated, coherent and comprehensive on COVID-19. This thread outlines some of the support in #Budget2020.
2/ Whatever extra resources our NHS needs to cope with COVID-19 – it will get. Whatever it needs, whatever it costs, we stand behind our NHS.
3/ If people fall ill or can’t work, we’ll support their finances. Statutory Sick Pay will be available for all those who are advised to self-isolate – even if they haven’t yet presented with symptoms.
Read 11 tweets
1/ The government is taking action that is coordinated, coherent and comprehensive on COVID-19.

This thread outlines some of the support in #Budget2020.
2/ Whatever extra resources our NHS needs to cope with COVID19 – it will get. Whatever it needs, whatever it costs, we stand behind our NHS.
3/ If people fall ill or can’t work, we’ll support their finances. Statutory Sick Pay will be available for all those who are advised to self-isolate – even if they haven’t yet presented with symptoms.
Read 11 tweets
Here we go #budget2020:

Chancellor gets straight to it.

Sunak: "I want to get straight to the issue on everybody's mind. Coronavirus/Covid-19."

This is essentially a virus budget.
Sunak: "We will get through this- together. The British people may be worried but not daunted. We will protect our people. We will rise to this challenge."
Sunak: "But Corona is not the only challenge. We just had a general election where people voted for change...this budget delivers on the change." Says it delivers on a desire for change to Britain's economic geography.
Read 31 tweets
NEW: Bank of England cuts base rate from 0.75% to 0.25%. Monetary policy now on ultra life support- though it was never really taken off.
Despite extremely loose monetary policy growth has still been sluggish in recent years. Save for more QE or negative rates, not much else the Bank can do. We may be going into a slump, having not really had much of a boom, with few (monetary) tools available to do much about it.
Lack of monetary headroom makes an active fiscal policy the only real stimulus option available. Opposition to which was, until quite recently, the centre of Conservative political strategy and thinking. Extraordinary backdrop to #budget2020.
Read 4 tweets
Ahead of #Budget2020 tomorrow I've got some new analysis on the decade-long fuel duty freeze & UK CO2 emissions

Bottom line: UK carbon output is up to 5% higher than it would have been – & road transport CO2 is up to 16% higher

THREAD

carbonbrief.org/analysis-fuel-…
Fuel duty is levied on petrol and diesel sales at a rate of 58p per litre +VAT.

Back in 2010, the incoming coalition govt inherited plans for fuel duty to rise at 1p above inflation each year.

Instead, fuel duty has been frozen ever since:

carbonbrief.org/analysis-fuel-…
The fuel duty freeze means rates are now 24p per litre lower than they would have been, if planned increases had gone ahead (28p inc VAT).

That's an effective tax cut worth £11bn to motorists, even as public transport fares have risen above inflation.

carbonbrief.org/analysis-fuel-…
Read 11 tweets
A few thoughts on #Budget2020: (1) Rises in public sector wages also have unintended (& often unacknowledged) consequences. In Basic Education wages have increased 45% faster than inflation for the last 10yrs. This has led to rises in class sizes and hiring freezes...(1/n)
There is a trade-off between head-counts (# of teachers) and salaries (what they're paid). For a given budget higher salaries means fewer teachers. We see that in that there have been rising enrolments & declining #'s of teachers employed --> rising class sizes #Budget2020 2/n
The other major way provinces cope is by imposing hiring freezes on school management posts. Principals / Deputies & HODs are expensive posts. Need to cut costs? Just don't advertise or hire when they leave 🤷 13% decline in #'s of school leaders 2012-->2016 #Budget2020 3/n
Read 5 tweets
Direct tax proposes a new optional #tax regime optional for taxpayers.
Under the new tax regime – tax rates are as follows
Up to 5 lakhs – 0%
5 lakhs to 7.5 Lakhs – 10%
7.5 Lakhs to 10 Lakhs – 15%
10 Lakhs – 12.5 Lakhs – 20%
12.5 Lakhs to 15 Lakhs – 25%
More than 15 Lakhs – 30%
DDT has been removed. #DDT will be taxed in the hands of individuals at their slab rate. With DDT scrapping, govt lets go of Rs 25,000 crore revenue.
Audit Turnover threshold has been increased from Rs. 1 crore to Rs. 5 crores. #Budget2020
Read 10 tweets
#Thread

#Budget2020 is atrocious for #DalitWomen! #DALITWOMENFIGHT's @elite_dalit, a trained budget analyst, explains how! #DalitBudget #GenderBudget
POSHAN Abhiyaan, a scheme initiated by GoI aims at reaching out to women, men & children in general, irrespective of caste backgrounds.However, Rs. 764 crores in the year 2019-20 & Rs. 200 crores for the year 2020-21 have been diverted for the scheme from #DalitBudget.
The Adolescent Girls (AG) Scheme aims at breaking adolescent girls' inter-generational life-cycle of nutritional and gender disadvantage, irrespective of their caste background. Yet, Rs. 50 crores have been diverted from the #DalitBudget for the scheme.
Read 8 tweets
65% of India's population is under the age of 35. It's no surprise that the #Budget2020 carries a strong focus on youth. Here's what's in it for you if you are a student and/or young working professional.
If there's one thing that annoys me a lot, it's paying higher taxes than required and the hassles associated with paying them. The GoI has simplified the tax process and also lowered rates in the #Budget2020. Here's what's in it for you if you're an income-tax payer.
Fisheries management, development & production is set to expand significantly in coastal areas which opens up employment. Horticulture is also encouraged.

Here's what's in it for you from #Budget2020 if you're a farmer.
Read 6 tweets

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