(LiveMint)
Finance Minister Nirmala Sitharaman today presents the Union Budget 2020-21 in the Lok Sabha. This is the second budget after Narendra Modi led National Democratic Alliance returned to power for a second term. This year’s Union Budget centres around three ideas — Aspirational India, Economic development, A Caring Society.
From the common man to industry and market — all have a wide range of expectation from this year’s budget. There is a strong expectation that Nirmala Sitharaman will rejig personal tax rates this year. This year’s Economy Survey projected economic growth to rebound and hit 6%-6.5% in the next financial year starting April 1.
-Online natural product will also be strengthened, said FM
-Committed to doubling farm income by 2022, said FM
-India is now 5th largest economy in world, said Nirmala Sitharaman
-Finanace Minister lays down 16 actionable plan to enhance farmer’s incomes. Farm markets need to be liberalised.
-Central govt’s debt has come down to 48.7% in March 2019 from 52.2% in March 2014
-This year’s Budget centres around three ideas — Aspirational India, Economic development, A Caring Society
–GST benefit of ₹1 lakh crore has been extended to consumers
–Introducing simpler GST filing system from April 2020, said Sitharaman
-16 lakh new taxpayers added to the system, revealed Sitharaman.
-An average household now saves about 4% of its monthly spend on account of reduced GST, said Sitharaman.
–Central government focussed on structural reform. GST has been most historic structural reform that India witnessed.
-Finance Minister started her Budget speech by paying homage to former Finance Minister Arun Jaitley.
-This is the budget aims to address hopes and aspirations of all the sectors, said Finance Minister
-Finance Minister presented Union Budget 2020-2021 in the Lok Sabha.
