{"id":174,"date":"2020-02-24T01:51:08","date_gmt":"2020-02-23T20:21:08","guid":{"rendered":""},"modified":"2026-09-03T16:47:14","modified_gmt":"2026-09-03T16:47:14","slug":"budget-for-2020-year","status":"publish","type":"post","link":"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/","title":{"rendered":"Budget For the Year 2020"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_86 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #1e73be;color:#1e73be\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #1e73be;color:#1e73be\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#Introduction\" >Introduction<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#The_Annual_Budget_of_India_known_as_the_Union_Budget_of_India_is_offered_by_the_government_on_the_very_first_day_of_February_So_that_the_government_can_look_into_the_budget_and_materialize_it_before_the_new_Financial_Year_starting_from_April_Budget_2020_is_also_revealed_on_1st_February_According_to_this_budget_there_are_some_packages_like_multi-billion_dollar_farm_healthcare_and_infra_are_introduced_for_the_growth_of_the_country_There_are_some_changes_made_in_Budget_2020_The_Bank_Depositors_insurance_coverage_is_increased_by_the_Finance_Minister_Earlier_it_was_Rs1_Lakh_and_now_raised_to_Rs5_lakh_Also_there_are_various_highlights_that_we_are_going_to_discuss_in_this_article_one_by_one_Highlights_of_the_Budget_2020_1-_Taxation_Related_There_are_changes_made_in_taxation_The_Finance_Minister_revealed_a_new_tax_slab_which_is_optional_and_presented_for_the_ones_who_waive_the_exemptions_The_optional_tax_rate_is_provided_below_Taxable_Income_Rate_of_Interest_Up_to_500000\" >The Annual Budget of India known as the Union Budget of India, is offered by the government on the very first day of February. So, that the government can look into the budget and materialize it before the&nbsp;new Financial Year starting from April. Budget 2020 is also revealed on 1st February. According to this budget, there are some packages like multi-billion dollar farm, healthcare and infra are introduced for the growth of the country.&nbsp; There are some changes made in Budget 2020. The Bank Depositors&#8217; insurance coverage is increased by the Finance Minister. Earlier it was Rs.1 Lakh and now raised to Rs.5 lakh. Also, there are various highlights that we are going to discuss in this article one by one.&nbsp;\n\nHighlights of the Budget 2020 1- Taxation Related:&nbsp; There are changes made in taxation. The Finance Minister revealed a new tax slab which is optional and presented for the ones who waive the exemptions.&nbsp; The optional tax rate is provided below:\n\n\n\n\nTaxable Income&nbsp;&nbsp;\n\n\n&nbsp; &nbsp;Rate of Interest\n\n\n\n\nUp to 5,00,000&nbsp; &nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#_Nil\" >&nbsp;&nbsp; &nbsp;Nil&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#500000_to_750000\" >5,00,000 to 7,50,000&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#_10\" >&nbsp; 10%<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#750000_to_1000000\" >7,50,000 to 10,00,000&nbsp; &nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#_15\" >&nbsp; &nbsp; 15%<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#1000000_to_1250000\" >10,00,000 to 12,50,000&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#20\" >20%<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#1250000_to_1500000\" >12,50,000 to 15,00,000&nbsp; &nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#_25\" >&nbsp;25%<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#Above_1500000\" >Above 15,00,000&nbsp;&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#30\" >30%<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#_Other_than_the_tax_slab_there_are_some_more\" >&nbsp; &nbsp;Other than the tax slab, there are some more:<\/a><ul class='ez-toc-list-level-5' ><li class='ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#Some_changes_made_in_the_Infrastructure_sector_are_discussed_below_Support_of_Rs22000_crore_to_the_National_Infrastructure_Pipeline_Distribution_of_Rs_17_lakh_crore_to_Transportation_Declaration_to_complete_the_Delhi-Mumbai_expressway_and_two_other_projects_by_2023_Starting_the_Chennai-Bengaluru_expressway_and_development_of_all_other_highways_Setting_up_5_new_smart_cities_through_the_PPP_model_NHAI_for_monetizing_the_12_lots_of_highway_bundles_before_2024_Setting_up_100_more_airports_until_2014_to_support_the_UFAN_scheme_Setting_up_the_Investment_Clearance_cell_through_portal_for_end-to-end_facilitation_Releasing_of_National_Logistics_Policy_as_soon_as_possible_and_creating_a_single-window_e-logistics_market\" >Some changes made in the Infrastructure sector are discussed below:\n\n\nSupport of Rs.22000 crore to the National Infrastructure Pipeline\n\n\nDistribution of Rs. 1.7 lakh crore to Transportation.\n\n\nDeclaration to complete the Delhi-Mumbai expressway and two other projects by 2023. Starting the Chennai-Bengaluru expressway and development of all other highways. \n\n\nSetting up 5 new smart cities through the PPP model.\n\n\nNHAI for monetizing the 12 lots of highway bundles before 2024.\n\n\nSetting up 100 more airports until 2014 to support the UFAN scheme.\n\n\nSetting up the Investment Clearance cell through portal for end-to-end facilitation.\n\n\nReleasing of National Logistics Policy as soon as possible and creating a single-window e-logistics market.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#Under_Indirect_taxes_the_changes_are_Revising_the_custom_duty_on_electronic_vehicles_and_mobile_parts_Increase_in_the_customs_duty_of_footwear_from_25_to_35_Increase_in_the_customs_duty_of_furniture_goods_from_20_to_25_Reductions_in_charges_of_custom_duty_on_import_of_new_print_and_light-weight_coated_papers_from_10_to_10_Excise_duty_increases_on_cigarettes_and_tobacco_products_Decrease_in_the_Customs_duty_of_several_raw_materials_such_as_Chemicals_plastics_and_fuse_Imposing_5_health_cess_for_importing_medical_devices_except_for_BCD\" >Under Indirect taxes the changes are:\n\n\nRevising the custom duty on electronic vehicles and mobile parts.\n\n\nIncrease in the customs duty of footwear from 25% to 35%.\n\n\nIncrease in the customs duty of furniture goods from 20% to 25%,\n\n\nReductions in charges of custom duty on import of new print and light-weight coated papers from 10 % to 10%.\n\n\nExcise duty increases on cigarettes and tobacco products.\n\n\nDecrease in the Customs duty of several raw materials such as Chemicals, plastics, and fuse,\n\n\nImposing 5% health cess for importing medical devices except for BCD.<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#As_per_the_National_recruitment_agency_people_opting_for_non-gazetted_government_jobs_and_public_sector_banks_will_have_to_appear_a_common_entrance_test\" >As per the National recruitment agency, people opting for non-gazetted government jobs and public sector banks will have to appear a common entrance test.<\/a><ul class='ez-toc-list-level-5' ><li class='ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#Urban_local_bodies_are_providing_internships_of_1_year_for_young_engineers_The_Ministries_of_Health_and_Skill_Development_has_planned_a_special_bridge_courses_for_accomplishing_the_demands_of_teachers_para-medical_staff_nurses_and_care-givers_brand\" >Urban local bodies are providing internships of 1 year for young engineers. \n\n\nThe Ministries of Health and Skill Development has planned a special bridge courses for accomplishing the demands of teachers, para-medical staff, nurses and care-givers brand.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#100_deductions_to_the_startups_whose_annual_turnover_is_up_to_Rs100_crore_for_3_consecutive_years_New_simplification_in_GST_returns_filing_from_April_2020_Launching_products_of_App-based_invoice_financing_loans_for_preventing_delay_payment_and_cash_flow_disparities_for_MSMEs_Decreasing_the_tax_burden_on_the_employees_because_of_the_ESOPs_taxes_deferred_by_5_years_or_the_date_on_which_the_employees_leave_the_company_or_at_the_time_of_sale_whichever_is_earlier_New_amendments_should_be_passed_for_enabling_the_NBFCs_for_extending_invoice_financing_to_MSMEs\" >100% deductions to the startups whose annual turnover is up to Rs.100 crore, for 3 consecutive years.\n\n\nNew simplification in GST returns filing from April 2020.\n\n\nLaunching products of App-based invoice financing loans for preventing delay payment and cash flow disparities for MSMEs.\n\n\nDecreasing the tax burden on the employees because of the ESOPs taxes, deferred by 5 years or the date on which the employees leave the company or at the time of sale. (whichever is earlier)\n\n\nNew amendments should be passed for enabling the NBFCs for extending invoice financing to MSMEs.&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#Fully_opening_the_specified_categories_of_government_securities_for_the_NRIs_not_for_the_domestic_investors_Establishing_Initial_Public_Offering_for_selling_a_part_of_investments_holding_in_LIC_Float_a_Debt_ETF_that_consists_of_government_securities_to_expand_Exchange_Traded_Fund_Raising_the_FPP_limit_from_9_to_15_in_corporate_bonds\" >Fully opening the specified categories of government securities for the NRIs. (not for the domestic investors).\n\n\nEstablishing Initial Public Offering for selling a part of investment\u2019s holding in LIC.\n\n\nFloat a Debt ETF that consists of government securities to expand Exchange Traded Fund.\n\n\nRaising the FPP limit from 9% to 15% in corporate bonds.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#Extending_the_tax_holiday_by_1_year_for_affordable_housing_Extension_on_the_Additional_deduction_up_to_Rs15_lakhs_by_the_date_to_31st_march_2021_for_the_interest_and_loans_taken_for_affordable_housing\" >Extending the tax holiday by 1 year for affordable housing.\n\n\nExtension on the Additional deduction up to Rs.1.5 lakhs by the date to 31st march, 2021 for the interest and loans taken for affordable housing.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#Estimation_of_Nominal_GDP_growth_at_10_for_the_year_2020-21_Increase_in_the_FY20_fiscal_deficit_from_33_to_38_in_the_current_fiscal_The_fiscal_target_for_FY20_should_be_35_Estimation_of_receipts_and_expenditure_of_2020-21_at_Rs2246_lakh_crore_and_Rs3042_lakh_crore_respectively_As_per_section_43_of_the_FRBM_Act_there_will_be_a_deviation_of_05_Increase_in_Net_market_borrowing_from_the_FY20_to_FY21_from_Rs499_lakh_crore_to_Rs536_lakh_crore_Allocating_Rs337_lakh_crore_to_the_Defence_as_defence_budget_Allocation_of_the_fund_to_union_territories_Rs30757_crore_to_Jammu_and_Kashmir_and_Rs_5958_crores_to_Ladakh_Rs_283_lakh_crore_allocation_for_the_16_action_points_For_agriculture_and_irrigation_Rs_16_lakh_crore_and_for_Rural_Development_and_Panchayati_Raj_Rs_123_lakh_crore_Funds_allocation_to_several_schemes_like_Rs4400_crore_to_clean_air_Rs85000_crore_for_SC_and_OBC_schemes_Rs53700_crore_for_ST_schemes_Rs28600_for_women-specific_schemes_and_Rs9500_crore_for_senior_citizen_schemes\" >Estimation of Nominal GDP growth at 10% for the year 2020-21.\n\n\nIncrease in the FY20 fiscal deficit from 3.3 % to 3.8% in the current fiscal. The fiscal target for FY20 should be 3.5%.\n\n\nEstimation of receipts and expenditure of 2020-21 at Rs.22.46 lakh crore and Rs.30.42 lakh crore respectively.\n\n\nAs per section 4(3) of the FRBM Act, there will be a deviation of 0.5%.\n\n\nIncrease in Net market borrowing from the FY20 to FY21 from Rs.4.99 lakh crore to Rs.5.36 lakh crore.\n\n\nAllocating Rs.3.37 lakh crore to the Defence as defence budget.\n\n\nAllocation of the fund to union territories. Rs.30,757 crore to Jammu and Kashmir and Rs. 5,958 crores to Ladakh\n\n\nRs. 2.83 lakh crore allocation for the 16 action points. For agriculture and irrigation Rs. 1.6 lakh crore and for Rural Development and Panchayati Raj Rs. 1.23 lakh crore.\n\n\nFunds allocation to several schemes like Rs.4,400 crore to clean air, Rs.85000 crore for SC and OBC schemes, Rs.53,700 crore for ST schemes, Rs.28,600 for women-specific schemes and Rs.9,500 crore for senior citizen schemes.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#Approaching_Public_Sector_Banks_for_hovering_funds_by_motivating_them_Amendment_of_Banking_Regulation_Act_for_making_the_co-operative_banks_stronger_Increase_in_depositor_insurance_from_1_lakh_rupees_to_5_lakh_rupees_by_the_government_in_order_to_help_the_bank_depositors\" >Approaching Public Sector Banks for hovering funds by motivating them.\n\n\nAmendment of Banking Regulation Act for making the co-operative banks stronger.\n\n\nIncrease in depositor insurance from 1 lakh rupees to 5 lakh rupees by the government in order to help the bank depositors.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#_The_government_suggested_to_shut_down_the_thermal_power_plants_that_cannot_meet_the_emission_norms_as_required_The_government_advises_expanding_the_National_Gas_Grid_to_27000_km_from_16200_km_Apart_from_this_Reforms_should_be_made_to_deepen_gas_markets_making_the_transactions_easy_and_price_transparency_Conventional_energy_meters_should_be_replaced_with_pre-paid_smart_meters_in_three_years_as_urged_by_the_Financial_Minister_to_help_the_consumers_to_select_their_suppliers_and_rates_freely_as_per_their_needs_and_requirements\" >&nbsp;The government suggested to shut down the thermal power plants that cannot meet the emission norms as required.\n\n\nThe government advises expanding the National Gas Grid to 27,000 km from 16,200 km. Apart from this, Reforms should be made to deepen gas markets, making the transactions easy and price transparency.\n\n\nConventional energy meters should be replaced with pre-paid smart meters in three years as urged by the Financial Minister, to help the consumers to select their suppliers and rates freely as per their needs and requirements.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#Development_of_5_Archaeology_sites_for_world-class_museums_The_sites_are_Rakhigarhi_Haryana_Shivsagar_Assam_Adichanallur_Tamil_Nadu_Dholavira_Gujarat_Hastinapur_Uttar_Pradesh_Proposal_of_Rs3150_crore_for_the_Cultural_Ministry_for_2020-21_Allocation_of_Rs2500_crore_to_tourism_promotions_Renovating_and_re-curating_4_more_museums_from_all_over_the_country_Proposal_of_an_Indian_Institute_of_Heritage_and_Conservation_as_a_deemed_university_under_the_Culture_Ministry_Ministry_of_Shipping_should_set_up_a_Maritime_museum_at_Lothal_which_is_an_older_At_the_time_of_Harappan_agemaritime_site_near_Ahmedabad\" >Development of 5 Archaeology sites for world-class museums. The sites are:\n\n\nRakhigarhi (Haryana)\n\n\nShivsagar (Assam)\n\n\nAdichanallur (Tamil Nadu) \n\n\nDholavira (Gujarat)\n\n\nHastinapur (Uttar Pradesh)\n\n\nProposal of Rs.3,150 crore for the Cultural Ministry for 2020-21\n\n\nAllocation of Rs.2,500 crore to tourism promotions.\n\n\nRenovating and re-curating 4 more museums from all over the country.\n\n\nProposal of an Indian Institute of Heritage and Conservation as a deemed university under the Culture Ministry.\n\n\nMinistry of Shipping should set up a Maritime museum at Lothal, which is an older (At the time of Harappan age)maritime site near Ahmedabad.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#Building_Data_Centre_Parks_for_the_private_sectors_as_per_the_new_policy_Allocation_of_Rs6000_crore_to_the_BharatNet_program_Providing_Fibre_to_the_Home_connections_under_the_BharatNet_to_1_lakh_gram_Panchayats\" >Building Data Centre Parks for the private sectors as per the new policy.\n\n\nAllocation of Rs.6,000 crore to the BharatNet program.&nbsp;\n\n\nProviding Fibre to the Home connections under the BharatNet to 1 lakh gram Panchayats.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-27\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#Allocation_of_Rs_99300_crore_to_the_educational_sectors_and_Rs3000_crore_to_the_skill_developments_Establishing_SAT_exams_like_the_US_in_the_countries_of_Africa_and_Asia_so_that_the_foreign_students_interested_to_study_in_India_acan_easily_proceed_Improvement_in_the_educational_system_by_borrowing_external_commercials_and_leveraging_the_FDIs_Attachment_of_a_medical_college_to_a_district_Hospital_in_PPP_mode_Setting_up_a_viability_gap_funding_for_establishing_sub_medical_colleges_Institutes_offering_a_full-fledge_degree_level_online_educational_program_in_the_top_100_National_Ranking_organizations_Announcement_of_new_Education_Policy_as_soon_as_possible_Launching_2_new_National_scheme_of_Science_Proposal_of_National_Forensic_University_and_National_Police_University_for_policing_the_Cyber-forensic_science_and_forensic_science_For_bringing_equality_among_the_skills_set_for_the_employers_as_well_as_the_workforces\" >Allocation of Rs. 99,300 crore to the educational sectors and Rs.3,000 crore to the skill developments.\n\n\nEstablishing SAT exams like the US in the countries of Africa and Asia so that the foreign students interested to study in India acan easily proceed.\n\n\nImprovement in the educational system by borrowing external commercials and leveraging the FDIs.\n\n\nAttachment of a medical college to a district Hospital in PPP mode. Setting up a viability gap funding for establishing sub medical colleges.\n\n\nInstitutes offering a full-fledge degree level online educational program in the top 100 National Ranking organizations.\n\n\nAnnouncement of new Education Policy as soon as possible.\n\n\nLaunching 2 new National scheme of Science.\n\n\nProposal of National Forensic University and National Police University for policing the Cyber-forensic, science and forensic science.\n\n\nFor bringing equality among the skills set for the employers as well as the workforces.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-28\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#Providing_more_Tejas-_like_trains_for_tourists_Introduction_of_150_new_trains_on_a_PPP_basis_Redevelopment_of_4_stations_as_per_PPP_Launching_of_a_project_of_Rs18600_crore_named_as_Bengaluru_suburban_transport_20_equity_for_the_project_will_be_provided_by_the_center_Setting_up_large_solar_power_capacity_near_the_railway_tracks_and_on_the_railway_lands\" >Providing more Tejas- like trains for tourists.\n\n\nIntroduction of 150 new trains on a PPP basis.&nbsp;\n\n\nRedevelopment of 4 stations as per PPP.\n\n\nLaunching of a project of Rs.18,600 crore named as Bengaluru suburban transport. 20% equity for the project will be provided by the center.\n\n\nSetting up large solar power capacity near the railway tracks and on the railway lands.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-29\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#Overall_Rs69000_crore_is_allocated_to_the_healthcare_sector_by_FM_Out_of_Rs69000_crores_Rs6400_crore_will_be_allocated_to_PM_Arogya_Yojana_Proposal_of_a_nutrition-related_plan_of_Rs35600_crore_Expansion_of_Indradhanush_immunization_plan_for_covering_12_new_diseases_Setting_up_viability_gap_funding_window_for_covering_hospitals_mainly_for_the_aspirational_districts_where_hospital_impanels_are_missing_under_Ayushman_Bharat_Offering_2000_medicines_and_300_surgical_by_the_Jan_Ausadhi_Kendra_Scheme_by_the_year_2024_Introduction_of_Nominal_health_cess_on_import_of_medical_equipment_for_motivating_the_domestic_industries_and_generating_health_resources_Providing_smartphones_to_6_lakh_Anganwadi_workers_so_that_they_can_upload_the_status_of_nutrition_of_10_crore_households\" >Overall Rs.69,000 crore is allocated to the healthcare sector by FM.\n\n\nOut of Rs.69,000 crores, Rs.6400 crore will be allocated to PM Arogya Yojana.\n\n\nProposal of a nutrition-related plan of Rs.35,600 crore.\n\n\nExpansion of Indradhanush immunization plan for covering 12 new diseases.\n\n\nSetting up viability gap funding window for covering hospitals, mainly for the aspirational districts where hospital impanels are missing under Ayushman Bharat.\n\n\nOffering 2000 medicines and 300 surgical by the Jan Ausadhi Kendra Scheme by the year 2024.\n\n\nIntroduction of Nominal health cess on import of medical equipment for motivating the domestic industries and generating health resources.\n\n\nProviding smartphones to 6 lakh Anganwadi workers so that they can upload the status of nutrition of 10 crore households.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-30\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#For_sustaining_ODF_behavior_and_ensuring_to_take_everyone_together_the_government_commits_to_open_Defecation_Free_country_Allocation_of_the_fund_to_Water_sanitation_and_pipeline_projects_for_Rs36_lakh_crore_and_Rs12300_crore_for_Swachh_Bharat\" >For sustaining ODF behavior and ensuring to take everyone together, the government commits to open Defecation Free country.\n\n\nAllocation of the fund to Water sanitation and pipeline projects for Rs.3.6 lakh crore and Rs.12,300 crore for Swachh Bharat.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-31\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#Increasing_the_Fish_production_by_200_lakh_tonnes_by_the_year_2022-23_Enabling_Fishery_and_Youth_extension_work_as_Sagar_Mitras_by_the_rural_youth_This_will_be_done_by_producing_500_fish_farmer_producing_organizations_Putting_the_development_and_management_of_Framework_and_marine_fishery_resources_conversations_on_their_correct_places\" >Increasing the Fish production by 200 lakh tonnes by the year 2022-23.\n\n\nEnabling Fishery and Youth extension work as Sagar&nbsp;Mitras by the rural youth. This will be done by producing 500 fish farmer producing organizations.\n\n\nPutting the development and management of Framework and marine fishery resources conversations on their correct places.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-32\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#Need_for_liberalizing_the_agricultural_market_and_govt_proposals_for_handhold_farmers_Expansion_of_PM_KUSUM_scheme_to_20_lakhs_farmers_Some_changes_to_be_made_in_the_incentive_schemes_for_chemical_fertilizers_Providing_support_to_the_states_to_concentrate_on_one_product_in_one_district_so_that_the_Horticulture_can_gain_momentum_Improving_the_Krishi_UDAN_scheme_for_exports_of_agricultural_products_on_national_and_international_ways_Setting_up_Rail_via_PPP_arrangement_by_the_Railways_for_perishable_goods_Using_of_MGNREGS_for_development_of_fodder_farm_For_strengthening_the_online_national_organic_products_market_by_Jaivik_Kheti_Portal_Focusing_on_the_Zero_budget_by_the_government\" >Need for liberalizing the agricultural market and govt. proposals for handhold farmers.\n\n\nExpansion of PM KUSUM scheme to 20 lakhs farmers.\n\n\nSome changes to be made in the incentive schemes for chemical fertilizers.\n\n\nProviding support to the states to concentrate on one product in one district so that the Horticulture can gain momentum.\n\n\nImproving the Krishi UDAN scheme for exports of agricultural products on national and international ways.\n\n\nSetting up Rail via PPP arrangement by the Railways for perishable goods.\n\n\nUsing of MGNREGS for development of fodder farm.\n\n\nFor strengthening the online national organic products market by Jaivik Kheti Portal.\n\n\nFocusing on the Zero budget by the government.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-33\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#Doubling_the_Milk_processing_capacities_from_53_tonnes_to_108_tonnes_by_the_year_2025_Dovetailing_the_MGNREGS_for_developing_the_fodder_farms_Increase_in_artificial_insemination_from_30_to_70_Elimination_of_Brucellosis_in_Cattle_Foot_and_Mouth_diseases_and_Peste_Des_Petits_ruminants_in_goats_and_sheep_by_the_year_2025_Mobilizing_the_05_households_with_58_lakh_SHGs_by_the_Deen_Dayal_Antyodaya_Yojana_for_poverty_alleviation\" >Doubling the Milk processing capacities from 53 tonnes to 108 tonnes by the year 2025.\n\n\nDovetailing the MGNREGS for developing the fodder farms.\n\n\nIncrease in artificial insemination from 30% to 70%.\n\n\nElimination of Brucellosis in Cattle, Foot and Mouth diseases and Peste Des Petits ruminants in goats and sheep by the year 2025.\n\n\nMobilizing the 0.5 households with 58 lakh SHGs by the Deen Dayal Antyodaya Yojana for poverty alleviation.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-34\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#Further_expansion_of_SHGs_for_poverty_alleviation_Financing_the_Integration_of_Negotiable_Warehousing_Receipts_with_e-NAM_Setting_up_efficient_warehouses_at_the_block_level_by_viability_gap_funding_SHGs_helping_the_farmers_to_hold_a_good_capacity_and_reduce_the_logistics_costs_Undertaking_the_warehouse_buildings_by_the_Central_Warehousing_Corporation_and_Food_Corporation_of_India_SHGs_helping_the_women_to_regain_their_position_as_Dhaanya_Lakshmi_Encouraging_the_state_government_to_implement_the_model_laws\" >Further expansion of SHGs for poverty alleviation\n\n\nFinancing the Integration of Negotiable Warehousing Receipts with e-NAM.\n\n\nSetting up efficient warehouses at the block level by viability gap funding.\n\n\nSHGs helping the farmers to hold a good capacity and reduce the logistics costs.\n\n\nUndertaking the warehouse buildings by the Central Warehousing Corporation and Food Corporation of India. \n\n\nSHGs helping the women to regain their position as Dhaanya Lakshmi.\n\n\nEncouraging the state government to implement the model laws.<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-35\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#Apart_from_the_changes_made_and_announcements_were_done_here_are_some_other_announcements_that_should_be_taken_into_consideration\" >Apart from the changes made and announcements were done, here are some other announcements that should be taken into consideration:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-36\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#Aspirational_India_The_government_decides_to_provide_betterment_in_the_life_of_the_Indians_thus_helping_with_better_health_education_and_jobs_to_each_and_every_section_of_the_society_Aspirational_India_has_three_components_that_are_discussed_below\" >Aspirational India: The government decides to provide betterment in the life of the Indians thus helping with better health, education, and jobs to each and every section of the society. Aspirational India has three components that are discussed below:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-37\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#Economic_Development_for_everyone_This_can_be_simply_explained_by_the_quote_%E2%80%9CSabka_Saath_sabka_Vikas_sabka_viswas%E2%80%9D_Caring_Society_The_government_has_benefitted_society_in_various_ways\" >Economic Development for everyone: This can be simply explained by the quote \u201cSabka Saath, sabka Vikas, sabka viswas\u201d.\n\n\nCaring Society: The government has benefitted society in various ways:<\/a><ul class='ez-toc-list-level-5' ><li class='ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-38\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#This_budget_will_improve_the_income_and_purchasing_power_of_the_Indians_The_motive_of_the_budget_is_to_fulfilling_the_hopes_and_aspirations_of_the_society_The_budget_provides_an_enhancement_in_technologies_like_Machine_learning_analytics_AI_etc_The_budget_allocated_Rs100_crore_for_preparing_for_hosting_the_G20_Presidency_in_2022_This_Budget_has_led_the_government_to_take_necessary_steps_for_economic_formalization_Helps_in_improving_the_society_by_allocating_Rs100_lakh_crore_to_the_Infrastructure_pipeline_projects_Adding_new_taxpayers_up_to_6_million_Up-lifting_of_271_million_people_from_poverty_Now_the_average_households_save_up_to_4_per_month_after_GST_implementation_Helped_the_government_to_gain_seamless_service_digitally\" >This budget will improve the income and purchasing power of the Indians\nThe motive of the budget is to fulfilling the hopes and aspirations of the society\nThe budget provides an enhancement in technologies like Machine learning, analytics, AI, etc\nThe budget allocated Rs.100 crore for preparing for hosting the G20 Presidency in 2022.\nThis Budget has led the government to take necessary steps for economic formalization.\nHelps in improving the society by allocating Rs.100 lakh crore to the Infrastructure pipeline projects.\nAdding new taxpayers up to 6 million.\nUp-lifting of 271 million people from poverty.\nNow, the average households save up to 4% per month after GST implementation.\nHelped the government to gain seamless service digitally.<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-39\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/#Increasing_the_Fish_production_by_200_lakh_tonnes_by_the_year_2022-23_Enabling_Fishery_and_Youth_extension_work_as_Sagar_Mitras_by_the_rural_youth_This_will_be_done_by_producing_500_fish_farmer_producing_organizations_Putting_the_development_and_management_of_Framework_and_marine_fishery_resources_conversations_on_their_correct_places_Rs_22000_crore_allocation_for_the_power_and_renewal_energy\" >Increasing the Fish production by 200 lakh tonnes by the year 2022-23. Enabling Fishery and Youth extension work as Sagar  Mitras by the rural youth. This will be done by producing 500 fish farmer producing organizations. Putting the development and management of Framework and marine fishery resources conversations on their correct places. Rs. 22,000 crore allocation for the power and renewal energy.<\/a><\/li><\/ul><\/nav><\/div>\n<h4 style=\"\"><span class=\"ez-toc-section\" id=\"Introduction\"><\/span><b><font size=\"5\"><span style=\"font-family: \" times=\"\" new=\"\" roman\";\"=\"\">Introduction<\/span><\/font><\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4 style=\"\"><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"The_Annual_Budget_of_India_known_as_the_Union_Budget_of_India_is_offered_by_the_government_on_the_very_first_day_of_February_So_that_the_government_can_look_into_the_budget_and_materialize_it_before_the_new_Financial_Year_starting_from_April_Budget_2020_is_also_revealed_on_1st_February_According_to_this_budget_there_are_some_packages_like_multi-billion_dollar_farm_healthcare_and_infra_are_introduced_for_the_growth_of_the_country_There_are_some_changes_made_in_Budget_2020_The_Bank_Depositors_insurance_coverage_is_increased_by_the_Finance_Minister_Earlier_it_was_Rs1_Lakh_and_now_raised_to_Rs5_lakh_Also_there_are_various_highlights_that_we_are_going_to_discuss_in_this_article_one_by_one_Highlights_of_the_Budget_2020_1-_Taxation_Related_There_are_changes_made_in_taxation_The_Finance_Minister_revealed_a_new_tax_slab_which_is_optional_and_presented_for_the_ones_who_waive_the_exemptions_The_optional_tax_rate_is_provided_below_Taxable_Income_Rate_of_Interest_Up_to_500000\"><\/span>\n<p><font color=\"#636363\">The Annual Budget of India known as the Union Budget of India, is offered by the government on the very first day of February. So, that the government can look into the budget and materialize it before the&nbsp;new Financial Year starting from April. Budget 2020 is also revealed on 1st February. According to this budget, there are some packages like multi-billion dollar farm, healthcare and infra are introduced for the growth of the country.&nbsp;<br \/>There are some changes made in Budget 2020. The Bank Depositors&#8217; insurance coverage is increased by the Finance Minister. Earlier it was Rs.1 Lakh and now raised to Rs.5 lakh. Also, there are various highlights that we are going to discuss in this article one by one.&nbsp;<\/font><\/p>\n<p><\/p>\n<p><b><font size=\"5\">Highlights of the Budget 2020<\/font><\/b><br \/><b><font size=\"5\">1- Taxation Related:&nbsp;<\/font><\/b><br \/>There are changes made in taxation. The Finance Minister revealed a new tax slab which is optional and presented for the ones who waive the exemptions.&nbsp;<br \/>The optional tax rate is provided below:<\/p>\n<table class=\"table table-bordered\">\n<tbody>\n<tr>\n<td>\n<h2 style=\"font-family: \" helvetica=\"\" neue\",=\"\" roboto,=\"\" arial,=\"\" \"droid=\"\" sans\",=\"\" sans-serif;=\"\" color:=\"\" rgb(0,=\"\" 0,=\"\" 0);\"=\"\"><span style=\"font-weight: 700;\">Taxable Income&nbsp;&nbsp;<\/span><\/h2>\n<\/td>\n<td>\n<h2 style=\"font-family: \" helvetica=\"\" neue\",=\"\" roboto,=\"\" arial,=\"\" \"droid=\"\" sans\",=\"\" sans-serif;=\"\" color:=\"\" rgb(0,=\"\" 0,=\"\" 0);\"=\"\"><span style=\"font-weight: 700;\">&nbsp; &nbsp;Rate of Interest<\/span><\/h2>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<h4 style=\"font-family: \" helvetica=\"\" neue\",=\"\" roboto,=\"\" arial,=\"\" \"droid=\"\" sans\",=\"\" sans-serif;=\"\" color:=\"\" rgb(0,=\"\" 0,=\"\" 0);\"=\"\">Up to 5,00,000&nbsp; &nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/td>\n<td>\n<h4 style=\"font-family: \" helvetica=\"\" neue\",=\"\" roboto,=\"\" arial,=\"\" \"droid=\"\" sans\",=\"\" sans-serif;=\"\" color:=\"\" rgb(0,=\"\" 0,=\"\" 0);\"=\"\"><span class=\"ez-toc-section\" id=\"_Nil\"><\/span>&nbsp;&nbsp; &nbsp;<span style=\"font-weight: 700;\">Nil&nbsp;<\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<h4 style=\"font-family: \" helvetica=\"\" neue\",=\"\" roboto,=\"\" arial,=\"\" \"droid=\"\" sans\",=\"\" sans-serif;=\"\" color:=\"\" rgb(0,=\"\" 0,=\"\" 0);\"=\"\"><span class=\"ez-toc-section\" id=\"500000_to_750000\"><\/span>5,00,000 to 7,50,000&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/td>\n<td>\n<h4 style=\"font-family: \" helvetica=\"\" neue\",=\"\" roboto,=\"\" arial,=\"\" \"droid=\"\" sans\",=\"\" sans-serif;=\"\" color:=\"\" rgb(0,=\"\" 0,=\"\" 0);\"=\"\"><span class=\"ez-toc-section\" id=\"_10\"><\/span>&nbsp; 10%<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<h4 style=\"font-family: \" helvetica=\"\" neue\",=\"\" roboto,=\"\" arial,=\"\" \"droid=\"\" sans\",=\"\" sans-serif;=\"\" color:=\"\" rgb(0,=\"\" 0,=\"\" 0);\"=\"\"><span class=\"ez-toc-section\" id=\"750000_to_1000000\"><\/span>7,50,000 to 10,00,000&nbsp; &nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/td>\n<td>\n<h4 style=\"font-family: \" helvetica=\"\" neue\",=\"\" roboto,=\"\" arial,=\"\" \"droid=\"\" sans\",=\"\" sans-serif;=\"\" color:=\"\" rgb(0,=\"\" 0,=\"\" 0);\"=\"\"><span class=\"ez-toc-section\" id=\"_15\"><\/span>&nbsp; &nbsp; 15%<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<h4 style=\"font-family: \" helvetica=\"\" neue\",=\"\" roboto,=\"\" arial,=\"\" \"droid=\"\" sans\",=\"\" sans-serif;=\"\" color:=\"\" rgb(0,=\"\" 0,=\"\" 0);\"=\"\"><span class=\"ez-toc-section\" id=\"1000000_to_1250000\"><\/span>10,00,000 to 12,50,000&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/td>\n<td>\n<h4 style=\"font-family: \" helvetica=\"\" neue\",=\"\" roboto,=\"\" arial,=\"\" \"droid=\"\" sans\",=\"\" sans-serif;=\"\" color:=\"\" rgb(0,=\"\" 0,=\"\" 0);\"=\"\"><span class=\"ez-toc-section\" id=\"20\"><\/span>20%<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<h4 style=\"font-family: \" helvetica=\"\" neue\",=\"\" roboto,=\"\" arial,=\"\" \"droid=\"\" sans\",=\"\" sans-serif;=\"\" color:=\"\" rgb(0,=\"\" 0,=\"\" 0);\"=\"\"><span class=\"ez-toc-section\" id=\"1250000_to_1500000\"><\/span>12,50,000 to 15,00,000&nbsp; &nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/td>\n<td>\n<h4 style=\"font-family: \" helvetica=\"\" neue\",=\"\" roboto,=\"\" arial,=\"\" \"droid=\"\" sans\",=\"\" sans-serif;=\"\" color:=\"\" rgb(0,=\"\" 0,=\"\" 0);\"=\"\"><span class=\"ez-toc-section\" id=\"_25\"><\/span>&nbsp;25%<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<h4 style=\"font-family: \" helvetica=\"\" neue\",=\"\" roboto,=\"\" arial,=\"\" \"droid=\"\" sans\",=\"\" sans-serif;=\"\" color:=\"\" rgb(0,=\"\" 0,=\"\" 0);\"=\"\"><span class=\"ez-toc-section\" id=\"Above_1500000\"><\/span>Above 15,00,000&nbsp;&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/td>\n<td>\n<h4 style=\"font-family: \" helvetica=\"\" neue\",=\"\" roboto,=\"\" arial,=\"\" \"droid=\"\" sans\",=\"\" sans-serif;=\"\" color:=\"\" rgb(0,=\"\" 0,=\"\" 0);\"=\"\"><span class=\"ez-toc-section\" id=\"30\"><\/span>30%<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><\/p>\n<ul>\n<li>Abolition of Dividend Distribution Tax.<\/li>\n<\/ul>\n<ul>\n<li>Reduction of Co-operative Societies Taxes to 22 %. (Also, there will be no exemption).<\/li>\n<\/ul>\n<ul>\n<li>Removal of approximately 70 out of 100 plus deductions and exemptions in order to reduce the tax rates.<\/li>\n<\/ul>\n<ul>\n<li>Concessional rate of 15% for establishing new power generation companies.<\/li>\n<\/ul>\n<ul>\n<li>Institution of new taxpayer charter to abolish the Tax harassment.<\/li>\n<\/ul>\n<ul>\n<li>The Taxpayers opting to pay the disputed amount until 31st march will be free from paying the interest and penalty charges.<\/li>\n<\/ul>\n<ul>\n<li>Launching a new direct tax dispute settlement scheme.<\/li>\n<\/ul>\n<ul>\n<li>Amendment of I.T. Act for sanctioning the faceless appeals.&nbsp; <\/li>\n<\/ul>\n<ul>\n<li>Concession in an investment of 100% taxation to the sovereign wealth funds in Infrastructure Projects.<\/li>\n<\/ul>\n<ul>\n<li>Proposal of Companies Act for bringing criminal liability in several areas. <\/li>\n<\/ul>\n<ul>\n<li>Proposal for new National Policy on Official Statistics to improve data collection and distribution using the technologies.<\/li>\n<\/ul>\n<ul>\n<li>Tax-payers will be verified with their Aadhaar cards to remove the fake units. The Aadhaar card will also be used for the instant allotment of PAN.<\/li>\n<\/ul>\n<ul>\n<li>Reviewing the rules and regulations of the Customs Act.<\/li>\n<\/ul>\n<ul>\n<li>E-Registration of Charity institutions and donating via pre-filing the <a href=\"https:\/\/www.legalsalaah.com\/itr-filling.html\" target=\"_blank\"><b>Income Tax Retun<\/b><\/a><\/li>\n<\/ul>\n<p><b><font size=\"5\">2- Infrastructure Related:<\/font><\/b>&nbsp;<\/h4>\n<h4 style=\"\"><span class=\"ez-toc-section\" id=\"_Other_than_the_tax_slab_there_are_some_more\"><\/span><b style=\"color: inherit; font-family: inherit;\">&nbsp; &nbsp;<\/b><b style=\"color: inherit; font-family: inherit;\">Other than the tax slab, there are some more:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h5><span class=\"ez-toc-section\" id=\"Some_changes_made_in_the_Infrastructure_sector_are_discussed_below_Support_of_Rs22000_crore_to_the_National_Infrastructure_Pipeline_Distribution_of_Rs_17_lakh_crore_to_Transportation_Declaration_to_complete_the_Delhi-Mumbai_expressway_and_two_other_projects_by_2023_Starting_the_Chennai-Bengaluru_expressway_and_development_of_all_other_highways_Setting_up_5_new_smart_cities_through_the_PPP_model_NHAI_for_monetizing_the_12_lots_of_highway_bundles_before_2024_Setting_up_100_more_airports_until_2014_to_support_the_UFAN_scheme_Setting_up_the_Investment_Clearance_cell_through_portal_for_end-to-end_facilitation_Releasing_of_National_Logistics_Policy_as_soon_as_possible_and_creating_a_single-window_e-logistics_market\"><\/span>\n<ul>\n<li>Some changes made in the Infrastructure sector are discussed below:<\/li>\n<\/ul>\n<ul>\n<li>Support of Rs.22000 crore to the National Infrastructure Pipeline<\/li>\n<\/ul>\n<ul>\n<li>Distribution of Rs. 1.7 lakh crore to Transportation.<\/li>\n<\/ul>\n<ul>\n<li>Declaration to complete the Delhi-Mumbai expressway and two other projects by 2023. Starting the Chennai-Bengaluru expressway and development of all other highways. <\/li>\n<\/ul>\n<ul>\n<li>Setting up 5 new smart cities through the PPP model.<\/li>\n<\/ul>\n<ul>\n<li>NHAI for monetizing the 12 lots of highway bundles before 2024.<\/li>\n<\/ul>\n<ul>\n<li>Setting up 100 more airports until 2014 to support the UFAN scheme.<\/li>\n<\/ul>\n<ul>\n<li>Setting up the Investment Clearance cell through portal for end-to-end facilitation.<\/li>\n<\/ul>\n<ul>\n<li>Releasing of National Logistics Policy as soon as possible and creating a single-window e-logistics market.<\/li>\n<\/ul>\n<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p><font size=\"5\"><b style=\"\">3- Indirect Tax Related:<\/b>&nbsp;<\/font><\/p>\n<h4 style=\"\"><\/h4>\n<h5><span class=\"ez-toc-section\" id=\"Under_Indirect_taxes_the_changes_are_Revising_the_custom_duty_on_electronic_vehicles_and_mobile_parts_Increase_in_the_customs_duty_of_footwear_from_25_to_35_Increase_in_the_customs_duty_of_furniture_goods_from_20_to_25_Reductions_in_charges_of_custom_duty_on_import_of_new_print_and_light-weight_coated_papers_from_10_to_10_Excise_duty_increases_on_cigarettes_and_tobacco_products_Decrease_in_the_Customs_duty_of_several_raw_materials_such_as_Chemicals_plastics_and_fuse_Imposing_5_health_cess_for_importing_medical_devices_except_for_BCD\"><\/span>\n<ul>\n<li>Under Indirect taxes the changes are:<\/li>\n<\/ul>\n<ul>\n<li>Revising the custom duty on electronic vehicles and mobile parts.<\/li>\n<\/ul>\n<ul>\n<li>Increase in the customs duty of footwear from 25% to 35%.<\/li>\n<\/ul>\n<ul>\n<li>Increase in the customs duty of furniture goods from 20% to 25%,<\/li>\n<\/ul>\n<ul>\n<li>Reductions in charges of custom duty on import of new print and light-weight coated papers from 10 % to 10%.<\/li>\n<\/ul>\n<ul>\n<li>Excise duty increases on cigarettes and tobacco products.<\/li>\n<\/ul>\n<ul>\n<li>Decrease in the Customs duty of several raw materials such as Chemicals, plastics, and fuse,<\/li>\n<\/ul>\n<ul>\n<li>Imposing 5% health cess for importing medical devices except for BCD.<\/li>\n<\/ul>\n<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p><b><br \/><\/b><font size=\"5\"><b style=\"\">4-&nbsp;<\/b><\/font><b style=\"font-size: x-large;\">Job-Related:<\/b><span style=\"font-size: x-large;\">&nbsp;<\/span><\/p>\n<h4 style=\"\"><span class=\"ez-toc-section\" id=\"As_per_the_National_recruitment_agency_people_opting_for_non-gazetted_government_jobs_and_public_sector_banks_will_have_to_appear_a_common_entrance_test\"><\/span>As per the National recruitment agency, people opting for non-gazetted government jobs and public sector banks will have to appear a common entrance test.<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4 style=\"\"><\/h4>\n<h5><span class=\"ez-toc-section\" id=\"Urban_local_bodies_are_providing_internships_of_1_year_for_young_engineers_The_Ministries_of_Health_and_Skill_Development_has_planned_a_special_bridge_courses_for_accomplishing_the_demands_of_teachers_para-medical_staff_nurses_and_care-givers_brand\"><\/span>\n<ul>\n<li>Urban local bodies are providing internships of 1 year for young engineers. <\/li>\n<\/ul>\n<ul>\n<li>The Ministries of Health and Skill Development has planned a special bridge courses for accomplishing the demands of teachers, para-medical staff, nurses and care-givers brand.<\/li>\n<\/ul>\n<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p><b><font size=\"5\">5- Startups and MSME Related:<\/font><\/b><\/p>\n<h4 style=\"\"><b><br \/><\/b><\/h4>\n<h5><span class=\"ez-toc-section\" id=\"100_deductions_to_the_startups_whose_annual_turnover_is_up_to_Rs100_crore_for_3_consecutive_years_New_simplification_in_GST_returns_filing_from_April_2020_Launching_products_of_App-based_invoice_financing_loans_for_preventing_delay_payment_and_cash_flow_disparities_for_MSMEs_Decreasing_the_tax_burden_on_the_employees_because_of_the_ESOPs_taxes_deferred_by_5_years_or_the_date_on_which_the_employees_leave_the_company_or_at_the_time_of_sale_whichever_is_earlier_New_amendments_should_be_passed_for_enabling_the_NBFCs_for_extending_invoice_financing_to_MSMEs\"><\/span>\n<ul>\n<li>100% deductions to the startups whose annual turnover is up to Rs.100 crore, for 3 consecutive years.<\/li>\n<\/ul>\n<ul>\n<li>New simplification in GST returns filing from April 2020.<\/li>\n<\/ul>\n<ul>\n<li>Launching products of App-based invoice financing loans for preventing delay payment and cash flow disparities for MSMEs.<\/li>\n<\/ul>\n<ul>\n<li>Decreasing the tax burden on the employees because of the ESOPs taxes, deferred by 5 years or the date on which the employees leave the company or at the time of sale. (whichever is earlier)<\/li>\n<\/ul>\n<ul>\n<li>New amendments should be passed for enabling the NBFCs for extending invoice financing to MSMEs.&nbsp;<\/li>\n<\/ul>\n<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p>When talking about Budget 2020, we advise that one must Register their businesses under Udyog Aadhaar. We have provided all the details regarding MSME Registration, on our official website Legal Salaah. Visit our webpage and follow all the procedures for <b><a href=\"https:\/\/www.legalsalaah.com\/msme-registration-online.html\">MSME Registration<\/a><\/b>\/Udyog Aadhaar Registration. Before that, let&#8217;s finish with the remaining highlights of the budget 2020.<br \/><b><br \/><\/b><b><font size=\"5\">6- Investment Related:<\/font><\/b><\/p>\n<h4 style=\"\"><\/h4>\n<h5><span class=\"ez-toc-section\" id=\"Fully_opening_the_specified_categories_of_government_securities_for_the_NRIs_not_for_the_domestic_investors_Establishing_Initial_Public_Offering_for_selling_a_part_of_investments_holding_in_LIC_Float_a_Debt_ETF_that_consists_of_government_securities_to_expand_Exchange_Traded_Fund_Raising_the_FPP_limit_from_9_to_15_in_corporate_bonds\"><\/span>\n<ul>\n<li>Fully opening the specified categories of government securities for the NRIs. (not for the domestic investors).<\/li>\n<\/ul>\n<ul>\n<li>Establishing Initial Public Offering for selling a part of investment\u2019s holding in LIC.<\/li>\n<\/ul>\n<ul>\n<li>Float a Debt ETF that consists of government securities to expand Exchange Traded Fund.<\/li>\n<\/ul>\n<ul>\n<li>Raising the FPP limit from 9% to 15% in corporate bonds.<\/li>\n<\/ul>\n<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p><b><br \/><\/b><b><font size=\"5\">7- Housing Related:<\/font><\/b><\/p>\n<h4 style=\"\"><b><br \/><\/b><\/h4>\n<h5><span class=\"ez-toc-section\" id=\"Extending_the_tax_holiday_by_1_year_for_affordable_housing_Extension_on_the_Additional_deduction_up_to_Rs15_lakhs_by_the_date_to_31st_march_2021_for_the_interest_and_loans_taken_for_affordable_housing\"><\/span>\n<ul>\n<li>Extending the tax holiday by 1 year for affordable housing.<\/li>\n<\/ul>\n<ul>\n<li>Extension on the Additional deduction up to Rs.1.5 lakhs by the date to 31st march, 2021 for the interest and loans taken for affordable housing.<\/li>\n<\/ul>\n<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p><b><font size=\"5\">8- Fiscal numbers and allocations :<\/font><\/b><\/p>\n<h4 style=\"\"><\/h4>\n<h5><span class=\"ez-toc-section\" id=\"Estimation_of_Nominal_GDP_growth_at_10_for_the_year_2020-21_Increase_in_the_FY20_fiscal_deficit_from_33_to_38_in_the_current_fiscal_The_fiscal_target_for_FY20_should_be_35_Estimation_of_receipts_and_expenditure_of_2020-21_at_Rs2246_lakh_crore_and_Rs3042_lakh_crore_respectively_As_per_section_43_of_the_FRBM_Act_there_will_be_a_deviation_of_05_Increase_in_Net_market_borrowing_from_the_FY20_to_FY21_from_Rs499_lakh_crore_to_Rs536_lakh_crore_Allocating_Rs337_lakh_crore_to_the_Defence_as_defence_budget_Allocation_of_the_fund_to_union_territories_Rs30757_crore_to_Jammu_and_Kashmir_and_Rs_5958_crores_to_Ladakh_Rs_283_lakh_crore_allocation_for_the_16_action_points_For_agriculture_and_irrigation_Rs_16_lakh_crore_and_for_Rural_Development_and_Panchayati_Raj_Rs_123_lakh_crore_Funds_allocation_to_several_schemes_like_Rs4400_crore_to_clean_air_Rs85000_crore_for_SC_and_OBC_schemes_Rs53700_crore_for_ST_schemes_Rs28600_for_women-specific_schemes_and_Rs9500_crore_for_senior_citizen_schemes\"><\/span>\n<ul>\n<li>Estimation of Nominal GDP growth at 10% for the year 2020-21.<\/li>\n<\/ul>\n<ul>\n<li>Increase in the FY20 fiscal deficit from 3.3 % to 3.8% in the current fiscal. The fiscal target for FY20 should be 3.5%.<\/li>\n<\/ul>\n<ul>\n<li>Estimation of receipts and expenditure of 2020-21 at Rs.22.46 lakh crore and Rs.30.42 lakh crore respectively.<\/li>\n<\/ul>\n<ul>\n<li>As per section 4(3) of the FRBM Act, there will be a deviation of 0.5%.<\/li>\n<\/ul>\n<ul>\n<li>Increase in Net market borrowing from the FY20 to FY21 from Rs.4.99 lakh crore to Rs.5.36 lakh crore.<\/li>\n<\/ul>\n<ul>\n<li>Allocating Rs.3.37 lakh crore to the Defence as defence budget.<\/li>\n<\/ul>\n<ul>\n<li>Allocation of the fund to union territories. Rs.30,757 crore to Jammu and Kashmir and Rs. 5,958 crores to Ladakh<\/li>\n<\/ul>\n<ul>\n<li>Rs. 2.83 lakh crore allocation for the 16 action points. For agriculture and irrigation Rs. 1.6 lakh crore and for Rural Development and Panchayati Raj Rs. 1.23 lakh crore.<\/li>\n<\/ul>\n<ul>\n<li>Funds allocation to several schemes like Rs.4,400 crore to clean air, Rs.85000 crore for SC and OBC schemes, Rs.53,700 crore for ST schemes, Rs.28,600 for women-specific schemes and Rs.9,500 crore for senior citizen schemes.<\/li>\n<\/ul>\n<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p><b><font size=\"5\">9- Banking Related:<\/font><\/b><\/p>\n<h4 style=\"\"><\/h4>\n<h5><span class=\"ez-toc-section\" id=\"Approaching_Public_Sector_Banks_for_hovering_funds_by_motivating_them_Amendment_of_Banking_Regulation_Act_for_making_the_co-operative_banks_stronger_Increase_in_depositor_insurance_from_1_lakh_rupees_to_5_lakh_rupees_by_the_government_in_order_to_help_the_bank_depositors\"><\/span>\n<ul>\n<li>Approaching Public Sector Banks for hovering funds by motivating them.<\/li>\n<\/ul>\n<ul>\n<li>Amendment of Banking Regulation Act for making the co-operative banks stronger.<\/li>\n<\/ul>\n<ul>\n<li>Increase in depositor insurance from 1 lakh rupees to 5 lakh rupees by the government in order to help the bank depositors.<\/li>\n<\/ul>\n<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p><b><font size=\"5\">10- Energy-Related:&nbsp;<\/font><\/b><\/p>\n<h4 style=\"\"><\/h4>\n<h5><span class=\"ez-toc-section\" id=\"_The_government_suggested_to_shut_down_the_thermal_power_plants_that_cannot_meet_the_emission_norms_as_required_The_government_advises_expanding_the_National_Gas_Grid_to_27000_km_from_16200_km_Apart_from_this_Reforms_should_be_made_to_deepen_gas_markets_making_the_transactions_easy_and_price_transparency_Conventional_energy_meters_should_be_replaced_with_pre-paid_smart_meters_in_three_years_as_urged_by_the_Financial_Minister_to_help_the_consumers_to_select_their_suppliers_and_rates_freely_as_per_their_needs_and_requirements\"><\/span>\n<ul>\n<li>&nbsp;The government suggested to shut down the thermal power plants that cannot meet the emission norms as required.<\/li>\n<\/ul>\n<ul>\n<li>The government advises expanding the National Gas Grid to 27,000 km from 16,200 km. Apart from this, Reforms should be made to deepen gas markets, making the transactions easy and price transparency.<\/li>\n<\/ul>\n<ul>\n<li>Conventional energy meters should be replaced with pre-paid smart meters in three years as urged by the Financial Minister, to help the consumers to select their suppliers and rates freely as per their needs and requirements.<\/li>\n<\/ul>\n<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p><b><font size=\"5\">11- Tourism Related:<\/font><\/b><\/p>\n<h4 style=\"\"><\/h4>\n<h5><span class=\"ez-toc-section\" id=\"Development_of_5_Archaeology_sites_for_world-class_museums_The_sites_are_Rakhigarhi_Haryana_Shivsagar_Assam_Adichanallur_Tamil_Nadu_Dholavira_Gujarat_Hastinapur_Uttar_Pradesh_Proposal_of_Rs3150_crore_for_the_Cultural_Ministry_for_2020-21_Allocation_of_Rs2500_crore_to_tourism_promotions_Renovating_and_re-curating_4_more_museums_from_all_over_the_country_Proposal_of_an_Indian_Institute_of_Heritage_and_Conservation_as_a_deemed_university_under_the_Culture_Ministry_Ministry_of_Shipping_should_set_up_a_Maritime_museum_at_Lothal_which_is_an_older_At_the_time_of_Harappan_agemaritime_site_near_Ahmedabad\"><\/span>\n<ul>\n<li>Development of 5 Archaeology sites for world-class museums. The sites are:<\/li>\n<\/ul>\n<ul>\n<li>Rakhigarhi (Haryana)<\/li>\n<\/ul>\n<ul>\n<li>Shivsagar (Assam)<\/li>\n<\/ul>\n<ul>\n<li>Adichanallur (Tamil Nadu) <\/li>\n<\/ul>\n<ul>\n<li>Dholavira (Gujarat)<\/li>\n<\/ul>\n<ul>\n<li>Hastinapur (Uttar Pradesh)<\/li>\n<\/ul>\n<ul>\n<li>Proposal of Rs.3,150 crore for the Cultural Ministry for 2020-21<\/li>\n<\/ul>\n<ul>\n<li>Allocation of Rs.2,500 crore to tourism promotions.<\/li>\n<\/ul>\n<ul>\n<li>Renovating and re-curating 4 more museums from all over the country.<\/li>\n<\/ul>\n<ul>\n<li>Proposal of an Indian Institute of Heritage and Conservation as a deemed university under the Culture Ministry.<\/li>\n<\/ul>\n<ul>\n<li>Ministry of Shipping should set up a Maritime museum at Lothal, which is an older (At the time of Harappan age)maritime site near Ahmedabad.<\/li>\n<\/ul>\n<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p><font size=\"5\"><br \/><\/font><b><font size=\"5\">12- Telecom Related:<\/font><\/b><\/p>\n<h4 style=\"\"><b><font size=\"5\"><br \/><\/font><\/b><\/h4>\n<h5><span class=\"ez-toc-section\" id=\"Building_Data_Centre_Parks_for_the_private_sectors_as_per_the_new_policy_Allocation_of_Rs6000_crore_to_the_BharatNet_program_Providing_Fibre_to_the_Home_connections_under_the_BharatNet_to_1_lakh_gram_Panchayats\"><\/span>\n<ul>\n<li>Building Data Centre Parks for the private sectors as per the new policy.<\/li>\n<\/ul>\n<ul>\n<li>Allocation of Rs.6,000 crore to the BharatNet program.&nbsp;<\/li>\n<\/ul>\n<ul>\n<li>Providing Fibre to the Home connections under the BharatNet to 1 lakh gram Panchayats.<\/li>\n<\/ul>\n<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p><b><font size=\"5\">13- Education Related:&nbsp;<\/font><\/b><\/p>\n<h4 style=\"\"><\/h4>\n<h5><span class=\"ez-toc-section\" id=\"Allocation_of_Rs_99300_crore_to_the_educational_sectors_and_Rs3000_crore_to_the_skill_developments_Establishing_SAT_exams_like_the_US_in_the_countries_of_Africa_and_Asia_so_that_the_foreign_students_interested_to_study_in_India_acan_easily_proceed_Improvement_in_the_educational_system_by_borrowing_external_commercials_and_leveraging_the_FDIs_Attachment_of_a_medical_college_to_a_district_Hospital_in_PPP_mode_Setting_up_a_viability_gap_funding_for_establishing_sub_medical_colleges_Institutes_offering_a_full-fledge_degree_level_online_educational_program_in_the_top_100_National_Ranking_organizations_Announcement_of_new_Education_Policy_as_soon_as_possible_Launching_2_new_National_scheme_of_Science_Proposal_of_National_Forensic_University_and_National_Police_University_for_policing_the_Cyber-forensic_science_and_forensic_science_For_bringing_equality_among_the_skills_set_for_the_employers_as_well_as_the_workforces\"><\/span>\n<ul>\n<li>Allocation of Rs. 99,300 crore to the educational sectors and Rs.3,000 crore to the skill developments.<\/li>\n<\/ul>\n<ul>\n<li>Establishing SAT exams like the US in the countries of Africa and Asia so that the foreign students interested to study in India acan easily proceed.<\/li>\n<\/ul>\n<ul>\n<li>Improvement in the educational system by borrowing external commercials and leveraging the FDIs.<\/li>\n<\/ul>\n<ul>\n<li>Attachment of a medical college to a district Hospital in PPP mode. Setting up a viability gap funding for establishing sub medical colleges.<\/li>\n<\/ul>\n<ul>\n<li>Institutes offering a full-fledge degree level online educational program in the top 100 National Ranking organizations.<\/li>\n<\/ul>\n<ul>\n<li>Announcement of new Education Policy as soon as possible.<\/li>\n<\/ul>\n<ul>\n<li>Launching 2 new National scheme of Science.<\/li>\n<\/ul>\n<ul>\n<li>Proposal of National Forensic University and National Police University for policing the Cyber-forensic, science and forensic science.<\/li>\n<\/ul>\n<ul>\n<li>For bringing equality among the skills set for the employers as well as the workforces.<\/li>\n<\/ul>\n<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p><font size=\"5\"><b style=\"\">14-&nbsp;<\/b><b style=\"\">Five&nbsp;Railway Measures:&nbsp;<\/b><\/font><\/p>\n<h4 style=\"\"><b><br \/><\/b><\/h4>\n<h5><span class=\"ez-toc-section\" id=\"Providing_more_Tejas-_like_trains_for_tourists_Introduction_of_150_new_trains_on_a_PPP_basis_Redevelopment_of_4_stations_as_per_PPP_Launching_of_a_project_of_Rs18600_crore_named_as_Bengaluru_suburban_transport_20_equity_for_the_project_will_be_provided_by_the_center_Setting_up_large_solar_power_capacity_near_the_railway_tracks_and_on_the_railway_lands\"><\/span>\n<ul>\n<li>Providing more Tejas- like trains for tourists.<\/li>\n<\/ul>\n<ul>\n<li>Introduction of 150 new trains on a PPP basis.&nbsp;<\/li>\n<\/ul>\n<ul>\n<li>Redevelopment of 4 stations as per PPP.<\/li>\n<\/ul>\n<ul>\n<li>Launching of a project of Rs.18,600 crore named as Bengaluru suburban transport. 20% equity for the project will be provided by the center.<\/li>\n<\/ul>\n<ul>\n<li>Setting up large solar power capacity near the railway tracks and on the railway lands.<\/li>\n<\/ul>\n<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p><b><br \/><\/b><b><font size=\"5\">15- Healthcare Related:<\/font><\/b><\/p>\n<h4 style=\"\"><b><br \/><\/b><\/h4>\n<h5><span class=\"ez-toc-section\" id=\"Overall_Rs69000_crore_is_allocated_to_the_healthcare_sector_by_FM_Out_of_Rs69000_crores_Rs6400_crore_will_be_allocated_to_PM_Arogya_Yojana_Proposal_of_a_nutrition-related_plan_of_Rs35600_crore_Expansion_of_Indradhanush_immunization_plan_for_covering_12_new_diseases_Setting_up_viability_gap_funding_window_for_covering_hospitals_mainly_for_the_aspirational_districts_where_hospital_impanels_are_missing_under_Ayushman_Bharat_Offering_2000_medicines_and_300_surgical_by_the_Jan_Ausadhi_Kendra_Scheme_by_the_year_2024_Introduction_of_Nominal_health_cess_on_import_of_medical_equipment_for_motivating_the_domestic_industries_and_generating_health_resources_Providing_smartphones_to_6_lakh_Anganwadi_workers_so_that_they_can_upload_the_status_of_nutrition_of_10_crore_households\"><\/span>\n<ul>\n<li>Overall Rs.69,000 crore is allocated to the healthcare sector by FM.<\/li>\n<\/ul>\n<ul>\n<li>Out of Rs.69,000 crores, Rs.6400 crore will be allocated to PM Arogya Yojana.<\/li>\n<\/ul>\n<ul>\n<li>Proposal of a nutrition-related plan of Rs.35,600 crore.<\/li>\n<\/ul>\n<ul>\n<li>Expansion of Indradhanush immunization plan for covering 12 new diseases.<\/li>\n<\/ul>\n<ul>\n<li>Setting up viability gap funding window for covering hospitals, mainly for the aspirational districts where hospital impanels are missing under Ayushman Bharat.<\/li>\n<\/ul>\n<ul>\n<li>Offering 2000 medicines and 300 surgical by the Jan Ausadhi Kendra Scheme by the year 2024.<\/li>\n<\/ul>\n<ul>\n<li>Introduction of Nominal health cess on import of medical equipment for motivating the domestic industries and generating health resources.<\/li>\n<\/ul>\n<ul>\n<li>Providing smartphones to 6 lakh Anganwadi workers so that they can upload the status of nutrition of 10 crore households.<\/li>\n<\/ul>\n<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p><b><font size=\"5\">16- Sanitation Related:&nbsp;<\/font><\/b><\/p>\n<h4 style=\"\"><\/h4>\n<h5><span class=\"ez-toc-section\" id=\"For_sustaining_ODF_behavior_and_ensuring_to_take_everyone_together_the_government_commits_to_open_Defecation_Free_country_Allocation_of_the_fund_to_Water_sanitation_and_pipeline_projects_for_Rs36_lakh_crore_and_Rs12300_crore_for_Swachh_Bharat\"><\/span>\n<ul>\n<li>For sustaining ODF behavior and ensuring to take everyone together, the government commits to open Defecation Free country.<\/li>\n<\/ul>\n<ul>\n<li>Allocation of the fund to Water sanitation and pipeline projects for Rs.3.6 lakh crore and Rs.12,300 crore for Swachh Bharat.<\/li>\n<\/ul>\n<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p><b><font size=\"5\"><br \/><\/font><\/b><b><font size=\"5\">17- Fisheries Related<\/font><\/b><\/p>\n<h4 style=\"\"><b><font size=\"5\"><br \/><\/font><\/b><\/h4>\n<h5><span class=\"ez-toc-section\" id=\"Increasing_the_Fish_production_by_200_lakh_tonnes_by_the_year_2022-23_Enabling_Fishery_and_Youth_extension_work_as_Sagar_Mitras_by_the_rural_youth_This_will_be_done_by_producing_500_fish_farmer_producing_organizations_Putting_the_development_and_management_of_Framework_and_marine_fishery_resources_conversations_on_their_correct_places\"><\/span>\n<ul>\n<li>Increasing the Fish production by 200 lakh tonnes by the year 2022-23.<\/li>\n<\/ul>\n<ul>\n<li>Enabling Fishery and Youth extension work as Sagar&nbsp;Mitras by the rural youth. This will be done by producing 500 fish farmer producing organizations.<\/li>\n<\/ul>\n<ul>\n<li>Putting the development and management of Framework and marine fishery resources conversations on their correct places.<\/li>\n<\/ul>\n<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p><font size=\"5\"><b>&nbsp;18- Agricultural Related:<\/b><\/font><\/p>\n<h4 style=\"\"><\/h4>\n<h5><span class=\"ez-toc-section\" id=\"Need_for_liberalizing_the_agricultural_market_and_govt_proposals_for_handhold_farmers_Expansion_of_PM_KUSUM_scheme_to_20_lakhs_farmers_Some_changes_to_be_made_in_the_incentive_schemes_for_chemical_fertilizers_Providing_support_to_the_states_to_concentrate_on_one_product_in_one_district_so_that_the_Horticulture_can_gain_momentum_Improving_the_Krishi_UDAN_scheme_for_exports_of_agricultural_products_on_national_and_international_ways_Setting_up_Rail_via_PPP_arrangement_by_the_Railways_for_perishable_goods_Using_of_MGNREGS_for_development_of_fodder_farm_For_strengthening_the_online_national_organic_products_market_by_Jaivik_Kheti_Portal_Focusing_on_the_Zero_budget_by_the_government\"><\/span>\n<ul>\n<li>Need for liberalizing the agricultural market and govt. proposals for handhold farmers.<\/li>\n<\/ul>\n<ul>\n<li>Expansion of PM KUSUM scheme to 20 lakhs farmers.<\/li>\n<\/ul>\n<ul>\n<li>Some changes to be made in the incentive schemes for chemical fertilizers.<\/li>\n<\/ul>\n<ul>\n<li>Providing support to the states to concentrate on one product in one district so that the Horticulture can gain momentum.<\/li>\n<\/ul>\n<ul>\n<li>Improving the Krishi UDAN scheme for exports of agricultural products on national and international ways.<\/li>\n<\/ul>\n<ul>\n<li>Setting up Rail via PPP arrangement by the Railways for perishable goods.<\/li>\n<\/ul>\n<ul>\n<li>Using of MGNREGS for development of fodder farm.<\/li>\n<\/ul>\n<ul>\n<li>For strengthening the online national organic products market by Jaivik Kheti Portal.<\/li>\n<\/ul>\n<ul>\n<li>Focusing on the Zero budget by the government.<\/li>\n<\/ul>\n<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p><b><font size=\"5\">19- Livestock Related:<\/font><\/b><\/p>\n<h4 style=\"\"><b><br \/><\/b><\/h4>\n<h5><span class=\"ez-toc-section\" id=\"Doubling_the_Milk_processing_capacities_from_53_tonnes_to_108_tonnes_by_the_year_2025_Dovetailing_the_MGNREGS_for_developing_the_fodder_farms_Increase_in_artificial_insemination_from_30_to_70_Elimination_of_Brucellosis_in_Cattle_Foot_and_Mouth_diseases_and_Peste_Des_Petits_ruminants_in_goats_and_sheep_by_the_year_2025_Mobilizing_the_05_households_with_58_lakh_SHGs_by_the_Deen_Dayal_Antyodaya_Yojana_for_poverty_alleviation\"><\/span>\n<ul>\n<li>Doubling the Milk processing capacities from 53 tonnes to 108 tonnes by the year 2025.<\/li>\n<\/ul>\n<ul>\n<li>Dovetailing the MGNREGS for developing the fodder farms.<\/li>\n<\/ul>\n<ul>\n<li>Increase in artificial insemination from 30% to 70%.<\/li>\n<\/ul>\n<ul>\n<li>Elimination of Brucellosis in Cattle, Foot and Mouth diseases and Peste Des Petits ruminants in goats and sheep by the year 2025.<\/li>\n<\/ul>\n<ul>\n<li>Mobilizing the 0.5 households with 58 lakh SHGs by the Deen Dayal Antyodaya Yojana for poverty alleviation.<\/li>\n<\/ul>\n<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p><b><br \/><\/b><br \/><b style=\"\"><font size=\"5\">20- Regarding Village Storage schemes:<\/font><\/b><\/p>\n<h4 style=\"\"><\/h4>\n<h5><span class=\"ez-toc-section\" id=\"Further_expansion_of_SHGs_for_poverty_alleviation_Financing_the_Integration_of_Negotiable_Warehousing_Receipts_with_e-NAM_Setting_up_efficient_warehouses_at_the_block_level_by_viability_gap_funding_SHGs_helping_the_farmers_to_hold_a_good_capacity_and_reduce_the_logistics_costs_Undertaking_the_warehouse_buildings_by_the_Central_Warehousing_Corporation_and_Food_Corporation_of_India_SHGs_helping_the_women_to_regain_their_position_as_Dhaanya_Lakshmi_Encouraging_the_state_government_to_implement_the_model_laws\"><\/span>\n<ul>\n<li>Further expansion of SHGs for poverty alleviation<\/li>\n<\/ul>\n<ul>\n<li>Financing the Integration of Negotiable Warehousing Receipts with e-NAM.<\/li>\n<\/ul>\n<ul>\n<li>Setting up efficient warehouses at the block level by viability gap funding.<\/li>\n<\/ul>\n<ul>\n<li>SHGs helping the farmers to hold a good capacity and reduce the logistics costs.<\/li>\n<\/ul>\n<ul>\n<li>Undertaking the warehouse buildings by the Central Warehousing Corporation and Food Corporation of India. <\/li>\n<\/ul>\n<ul>\n<li>SHGs helping the women to regain their position as Dhaanya Lakshmi.<\/li>\n<\/ul>\n<ul>\n<li>Encouraging the state government to implement the model laws.<\/li>\n<\/ul>\n<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p><b><font size=\"5\">21-&nbsp;<\/font><\/b><b><font size=\"5\">Some other announcements:<\/font><\/b>&nbsp;<\/p>\n<h4 style=\"\"><span class=\"ez-toc-section\" id=\"Apart_from_the_changes_made_and_announcements_were_done_here_are_some_other_announcements_that_should_be_taken_into_consideration\"><\/span><b>Apart from the changes made and announcements were done, here are some other announcements that should be taken into consideration:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4 style=\"\"><span class=\"ez-toc-section\" id=\"Aspirational_India_The_government_decides_to_provide_betterment_in_the_life_of_the_Indians_thus_helping_with_better_health_education_and_jobs_to_each_and_every_section_of_the_society_Aspirational_India_has_three_components_that_are_discussed_below\"><\/span><b><br \/><\/b><br \/><b>Aspirational India: <\/b>The government decides to provide betterment in the life of the Indians thus helping with better health, education, and jobs to each and every section of the society. Aspirational India has three components that are discussed below:<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ol>\n<li>Irrigation, Agriculture and Rural Development.<\/li>\n<li>Sanitation, Water and Wellness.<\/li>\n<li>Skills and Educations.<\/li>\n<\/ol>\n<h4 style=\"\"><span class=\"ez-toc-section\" id=\"Economic_Development_for_everyone_This_can_be_simply_explained_by_the_quote_%E2%80%9CSabka_Saath_sabka_Vikas_sabka_viswas%E2%80%9D_Caring_Society_The_government_has_benefitted_society_in_various_ways\"><\/span><\/p>\n<ul>\n<li><b>Economic Development for everyone:<\/b> This can be simply explained by the quote \u201cSabka Saath, sabka Vikas, sabka viswas\u201d.<\/li>\n<\/ul>\n<ul>\n<li><b>Caring Society:<\/b> The government has benefitted society in various ways:<\/li>\n<\/ul>\n<p><\/p>\n<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h5><span class=\"ez-toc-section\" id=\"This_budget_will_improve_the_income_and_purchasing_power_of_the_Indians_The_motive_of_the_budget_is_to_fulfilling_the_hopes_and_aspirations_of_the_society_The_budget_provides_an_enhancement_in_technologies_like_Machine_learning_analytics_AI_etc_The_budget_allocated_Rs100_crore_for_preparing_for_hosting_the_G20_Presidency_in_2022_This_Budget_has_led_the_government_to_take_necessary_steps_for_economic_formalization_Helps_in_improving_the_society_by_allocating_Rs100_lakh_crore_to_the_Infrastructure_pipeline_projects_Adding_new_taxpayers_up_to_6_million_Up-lifting_of_271_million_people_from_poverty_Now_the_average_households_save_up_to_4_per_month_after_GST_implementation_Helped_the_government_to_gain_seamless_service_digitally\"><\/span>\n<ol>\n<li>This budget will improve the income and purchasing power of the Indians<\/li>\n<li>The motive of the budget is to fulfilling the hopes and aspirations of the society<\/li>\n<li>The budget provides an enhancement in technologies like Machine learning, analytics, AI, etc<\/li>\n<li>The budget allocated Rs.100 crore for preparing for hosting the G20 Presidency in 2022.<\/li>\n<li>This Budget has led the government to take necessary steps for economic formalization.<\/li>\n<li>Helps in improving the society by allocating Rs.100 lakh crore to the Infrastructure pipeline projects.<\/li>\n<li>Adding new taxpayers up to 6 million.<\/li>\n<li>Up-lifting of 271 million people from poverty.<\/li>\n<li>Now, the average households save up to 4% per month after GST implementation.<\/li>\n<li>Helped the government to gain seamless service digitally.<\/li>\n<\/ol>\n<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p><b>There are many more facilities for the growth and welfare of society. Finance Minister had mentioned several schemes like Affordable housing, Ayushman Bharat, DBT, etc.&nbsp;&nbsp;<\/b><b><br \/><\/b><b><br \/><\/b><b><font size=\"5\">If you need any further help regarding <a href=\"https:\/\/www.legalsalaah.com\/gst-registration-online.html\" style=\"\">GST Registration Online<\/a>, or&nbsp;<br \/><\/font><\/b><b><font size=\"5\">New <a href=\"https:\/\/www.legalsalaah.com\/gst-return-filing.html\" style=\"\">GST Return Filing<\/a> feel free to contact us 8766393412.<\/font><\/b><\/p>\n<h4 style=\"\"><span class=\"ez-toc-section\" id=\"Increasing_the_Fish_production_by_200_lakh_tonnes_by_the_year_2022-23_Enabling_Fishery_and_Youth_extension_work_as_Sagar_Mitras_by_the_rural_youth_This_will_be_done_by_producing_500_fish_farmer_producing_organizations_Putting_the_development_and_management_of_Framework_and_marine_fishery_resources_conversations_on_their_correct_places_Rs_22000_crore_allocation_for_the_power_and_renewal_energy\"><\/span><b><font size=\"5\"><br \/><\/font><\/b><br \/>Increasing the Fish production by 200 lakh tonnes by the year 2022-23.<br \/>Enabling Fishery and Youth extension work as Sagar<br \/> Mitras by the rural youth. This will be done by producing 500 fish farmer producing organizations.<br \/>Putting the development and management of Framework and marine fishery resources conversations on their correct places.<br \/>Rs. 22,000 crore allocation for the power and renewal energy.<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p>\n<ul><\/ul>\n<\/p>\n<ul><\/ul><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8211; The Budget for 2020 was released on 1st February 2020 by our Finance Minister Nirmala Sitharaman. The budget was released for the welfares of Indians in order to enhance their income as well as their Buying capacity.<\/p>\n","protected":false},"author":1,"featured_media":401,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":["post-174","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-banking"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Budget For the Year 2020<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Budget For the Year 2020\" \/>\n<meta property=\"og:description\" content=\"- The Budget for 2020 was released on 1st February 2020 by our Finance Minister Nirmala Sitharaman. The budget was released for the welfares of Indians in order to enhance their income as well as their Buying capacity.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.legalsalaah.com\/blog\/budget-for-2020-year\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-02-23T20:21:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-09-03T16:47:14+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/localhost\/legal-salaah\/blog\/wp-content\/uploads\/2020\/02\/budget-for-the-year-2020.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"LegalSalaah\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"LegalSalaah\" \/>\n\t<meta name=\"twitter:label2\" 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