Budget 2020-2021

The very first Union Budget of the 21st century, union Finance Minister Smt. Nirmala Sitharaman, shown a series of far-reaching growths, aimed at reviving the Indian economy through a blend of short, medium, and long-term activities. The main focus on better standards of living with easy access to health, quality education and better jobs for all divisions of the society.

Three Main Components Of Self-Improving India

  1. Agriculture, Irrigation, and Rural Development in all parts of the country
  2. Better health Wellness, Water, and Sanitation programs
  3. Quality education and skill development

Comparison Between New And Old Income Tax Slabs

 

Serial number Income range Old rates New rates difference
1 0-2.5 Lakhs Exempted Exempted NA
2 2.5-5.0 lakhs 5% 5% NA
3 5.0- 7.5 lakhs 20% 10% -10%
4 7.5-10 lakhs 20% 15 -5%
5 10-12.5 lakhs 30% 20% -10%
6 12.5-15 lakhs 30% 25% -5%
7 No change Above 15 Lakhs

The Sixteen Points To Make India An Aspirational Economy

  1. In between 2006-2016 years, 271 million peoples are out of poverty
  2. The country has moved over 4 percent growth rate in the 1950s to 7.4 per cent to 2014-19 period
  3. A sum of 60 lakh new taxpayers and 105 crore e-way bills generated under GST. Average household rates decrease 4 percent due to GST
  4. India is now 5th largest economy in the world, according to the recent reports
  5. PM KUSUM yojna gives solar pumps to over 20 lakh farmers
  6. Railways Kisan Rail through PPP model makes goods transportation makes it easier
  7. Agriculture credit goal for the year 2020-21 has been set at 15 lakh crore.
  8. Rupees 69,000 crores allocated for the healthcare sector
  9. Rs 99,300 crore allocated for education and training and 3,000 crores will be given for skill development.
  10. Rs 12,300 crore allocated for Swachh Bharat Mission and 3.6 lakh crore for fresh piped water supply for everyone.
  11. Rs 1,480 crore for the completion National Textile Mission.
  12. Chennai-Bengaluru expressway and Delhi-Mumbai expressway to be completed by 2023 that gives a boost to the infrastructure.
  13. 1 lakh gram panchayats will be connected through optical fibre link, with Rs 6,000 crore under Bharat Net scheme.
  14. Provision of Rs 27,300 crore for growth of industry and business.
  15. Rs 20,000 crore for renewable energy sources and to tackle pollution and climate change
  16. 100 more airports to be established by 2025 and 1,150 trains will run under the public, private partnership (PPP) mode

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