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LIVE blog: Finance Minister Nirmala Sitharaman to present Budget 2020 at 11 am thenewsminute.com/article/live-b…
Copies of the Union Budget reach Parliament. Follow all live updates on #Budget2020 here: thenewsminute.com/article/live-b…
Live now: Union Finance Minister Nirmala Sitharaman tables 15th Finance Commission panel report. #Budget2020
This is the Budget to boost income, says Finance Minister #NirmalaSitharaman #Budget2020
"This budget aims to have your aspirations and hopes at rest." Fin Min Nirmala Sitharaman starts her second Budget speech. #Budget2020
Three focuses in #Budget2020 says @nsitharaman :
1. Aspirational India.
2. Economic Development.
3. Caring Society.
@nsitharaman Finance Minister recites poem in Kashmiri: #Budget2020

Our country is like the flowering Shalimar Garden.
Our country is like the lotus blooming in the Dal lake.
Like the hot blood of youth.
My country, your country, our country.
The most beloved country in the world.
@nsitharaman #AspirationalIndia plans:
1. Agriculture and rural development
2. Wellness
@nsitharaman 16 action points for agricultural development:

1. Encourage those state governments that follow model laws that are issued by the central government.

@nsitharaman 2. Comprehensive measures for 100 water stressed districts.

@nsitharaman 3. Propose to provide 20 lakh farmers with standalone solar power water pumps. Farmers will also be incentivised to set up solar plants in fallow lands.

@nsitharaman FinMin references Avvaiyar's Aathichudi, and compares her lessons to Prime Minister Modi's schemes.

@nsitharaman 5. NABARD will map and geo tag agricultural warehousing. Warehousing will be done with WDRA norms. To be done on #PPP mode.

@nsitharaman 6. Village storage scheme to be run by SHGs: This will reduce storage costs. Women will regain position as "Dhanyalakshmi".

@nsitharaman 7. Indian railways to set up a 'Kisan Rail' through #PPP. Refridgerated coaches in these trains for transporting perishables.

@nsitharaman 8. 'Krishi Udan' on international and national routes for transporting farm produce.

@nsitharaman 9. Proposal to support states to promote 'one product, one district' for horticulture products.

@nsitharaman 11. Zero budget natural farming to be promoted.

@nsitharaman 12. Rs 15 lakh crore agricultural credit availability target.

@nsitharaman 15. Govt plans to eliminate Foot and Mouth Disease, and other diseases in cattle, by 2025.

@nsitharaman 14. #BlueEconomy Development of Marine fisheries resources.

@nsitharaman 16. Under Antyodaya Yojana, expand on SHGs.

@nsitharaman Funds for the 16 point plan:

1. Agriculture, irrigation, rural development etc: Rs 2.83 lakh crore.

1.6 lakh crore for agri and irrigation. Remaining for rural development.
@nsitharaman Second point under #AspirationalIndia : Wellness, water and sanitation.

@nsitharaman Propose to expand Jan Aushadhi centres to all districts.

@nsitharaman Rs 12,300 crore for Swachcha Bharat scheme.

@nsitharaman #AspirationalIndia No. 3 - Educational and Skills.

New Education Policy to be announced soon, says #NirmalaSitharaman

@nsitharaman FDI in Education, says @nsitharaman

150 higher education institutions will start apprenticeship courses by 2021

@nsitharaman Internships for engineers under urban local bodies, says @nsitharaman

@nsitharaman Degree level online education programme by institutions ranked within top 100.

@nsitharaman IndSAT exam in Asian and African countries for students who want to study in India.

@nsitharaman To address shortage of doctors: Medical colleges to be attached to district hospitals in #PPP mode.

@nsitharaman To address huge demand abroad for nurses, paramedics and caregivers: Ministry of Skill Development to start bridge course including language requirements.
@nsitharaman 99,300 crore for education sector. #BudgetSession2020 #BudgetSession #Budget2020
@nsitharaman FinMin @nsitharaman mentions #IndusValleyCivilisation and 'Saraswathi Sindhu Civilisation'.

@nsitharaman "Entrepreneurship has always been the strength of India" says @nsitharaman #BudgetSession2020
@nsitharaman Smart cities to be developed in #PPP mode, says @nsitharaman

@nsitharaman Proposed scheme to encourage electronics manufacturing. Details will be given later. Scheme to also focus on medical manufacturing.

@nsitharaman National Technical Textiles Mission proposed, at outlay of Rs 1480 crore.

@nsitharaman All ministries will issue quality standards orders from this year.

@nsitharaman New scheme called #Nirvik for exporters.

@nsitharaman National Logistics Policy soon, says @nsitharaman

@nsitharaman #Railways - 5 measures:

1. Large solar powered capacity alongside rail tracks, on land owned by railways.
@nsitharaman 2. 150 passenger trains through #PPP

@nsitharaman Conventional energy meters to be replaced by prepaid 'smart meters' in the next three years in states and UTs.

@nsitharaman Conventional energy meters to be replaced by prepaid 'smart meters' in the next three years in states and UTs.

@nsitharaman Knowledge translation clusters to be set up in different places.

@nsitharaman Two national level science schemes to come up, to map 'genetic landscape' of India for medicine.

@nsitharaman 8000 crores over 5 years for national mission on quantum technologies and applications.

@nsitharaman #CaringSociety theme: Women and children, social welfare, and climate change.

@nsitharaman FinMin mentions #BetiBachaoBetiPadhao to outrage from opposition benches.
@nsitharaman Gross enrollment of girls is higher than boys in school education, says @nsitharaman

@nsitharaman Girls are benefiting from #BetiPadhao says @nsitharaman . Ruckus in Parliament.

@nsitharaman To improve national nutritional status of children, adolescents and women, more than 6 lakh Anganwadi status have smartphones to upload their nutritional status.

@nsitharaman Propose a taskforce to recommend steps on looking at age of motherhood of girls and women.

@nsitharaman 28,600 crores for women related schemes.

@nsitharaman Ministry of Housing working with Urban Local Bodies to eliminate manual cleaning of sewers. Technologies have been identified.

@nsitharaman Financial support will be provided for wider adoption of such technologies says @nsitharaman

@nsitharaman 85,000 crores budget provision for SCs and OBCs.

53,700 crores budget provision for STs.

@nsitharaman 9,500 crores for senior citizens and persons with disabilities.

@nsitharaman 5 archeological sites will be developed as iconic sites with on-site museums.

Rakhigarhi, Haryana

Hastinapur, UP

Sivasagar, Assam

Dholavira, Gujarat

Adichanallur, TN
@nsitharaman Environment and Climate change:

Thermal power plants will be advised to be closed if their emissions are high.

@nsitharaman There are 5 jewels for a good country according to Thiruvalluvar, says @nsitharaman :

1. No epidemics.
2. It should have wealth.
3. It should have good crop.
4. It should have happiness.
5. It should have security and safety.
@nsitharaman FinMin draws parallels to the '5 jewels' mentioned by Thiruvalluvar:

1. Ayushman Bharath.
2. Wealth creators will be respected.
3. PM Kissan scheme.
4. Ease of living
5. National Security is a top priority of the govt.

@nsitharaman "There are two hands that hold the bouquet of flowers" says @nsitharaman, referring to welfare schemes.

One hand is the government.

@nsitharaman Tax payers charter will be a part of our statutes, says @nsitharaman

@nsitharaman This will be to stop tax harassment, says @nsitharaman

@nsitharaman Companies Act, other laws will be examined to ensure there are no criminal liabilities for civil issues.

@nsitharaman National Recruitment Agency to be set up for conduct of computer-based tests for recruitment to non-gazetted posts, particularly in 'aspirational districts'.

@nsitharaman New 'National Policy on Official Statistics', says #FinMin @nsitharaman

@nsitharaman The second hand holding the bouquet of three themes, is Financial Sector, says @nsitharaman
@nsitharaman Financial architecture should keep evolving.

Robust mechanism is in place to monitor health of scheduled commercial banks, and depositor money is safe, says #FinMin

@nsitharaman Insurance cover for depositors raised from Rs 1 lakh to Rs 5 lakh.

@nsitharaman Govt to sell a part of its holding in LIC

@nsitharaman #BreakingNews Govt has in substantial measure accepted the recommendations of the 15th Finance Commission.

@nsitharaman Estimated GDP growth for 2020-21: 10% says @nsitharaman

#GDP #BudgetSession2020
@nsitharaman #DirectTaxes #BreakingNews

To make sure India stays a favoured destination for investments, tax rate for existing companies brought down to 22%. New companies, tax rate reduced to 15%.

@nsitharaman This is a reiteration of an older move.
@nsitharaman #IncomeTax

Currently, compliance is burdensome process.

In order to provide relief to individual tax law.

#BreakingNews - I-T rate to be reduced for individuals
@nsitharaman 10% for income between 5 lakh and 7.5 lakh per year.

reduced from 20%

#BreakingNews #IncomeTax
@nsitharaman 7.5 lakh to 10 lakh - 15% tax. Current rate is 20%.

#BreakingNews #IncomeTax
@nsitharaman 10 lakh to 12.5 lakh - 20% tax rate. Current rate is 30%.

#BreakingNews #IncomeTax
@nsitharaman 12.5 lakh to 15 lakh - 25% tax rate. Current rate is 30%.

Income above 15 lakh to continue at 30%.

#BreakingNews #IncomeTax
@nsitharaman The new tax regime will be optional for taxpayers, says FM
@nsitharaman Dividend Distribution tax (DDT) removed. At present, 15% plus other charges. System of levying DDT results in increase on burden in investors, therefore, propose to remove the DDT: FM #Budget2020
@nsitharaman Proposal to extend concessional corporate tax of 15% to new firms in power generation. #Budget2020
@nsitharaman In a boost to startups using ESOPs to retain employees, FM proposes to ease burden of tax – deferring tax payment on ESOPs of 5yrs/employee leaves company or sells shares, whichever is the earliest. Currently, ESOPs taxable at the time of exercising.
@nsitharaman #Budget2020

Currently, MSME's with turnover of Rs 1 crore are required to be audited by an accountant. Proposal to increase the threshold required for audit to Rs 5 crore.
@nsitharaman Tax holiday on profits earned by developers of affordable housing projects approved by March 31, 2020. Proposal to extend date of approval of affordable projects for availing tax holiday by one year. #Budget2020 #Housing
@nsitharaman Scheme to reduce litigation in direct taxes: Taxpayer required to pay only the amount of disputed tax; complete waiver of interest & penalty if they pay by Mar 31, 2020. If availed after the period, some additional amount will have to be paid. Scheme active till June 30, 2020: FM
@nsitharaman Aadhaar-based verification for taxpayer to be introduced. "Will help in weeding out dummy or non-existent unit. Dynamic QR code proposed for consumer invoices. GST parameters will be captured when payment for purchases is made through QR code," says FM. #Budget2020
@nsitharaman A nominal health cess proposed by way of customs duty on import of medical equipment, given that these goods are now being made significantly in India: FM #Customs #Budget2020
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