Union Budget 2020 :Nirmala Sitharaman unable to finish Budget speech, quits midway

Union Budget 2020 :Nirmala Sitharaman unable to finish Budget speech, quits midway

Finance Minister Nirmala Sitharaman will present the second Union Budget of Modi Sarkar-2 today.According to sources the Modi Government will announce some income tax relief for salaried class in this budget.

1:50 PM : Nirmala Sitharaman unable to finish Budget speech, quits midway

1:46 PM : Income Tax Act to be amended

1:45PM : Govt announces new process of instantly allotting PAN

1:44 PM :100% tax concession to sovereign wealth funds

1:42 PM : Sitharaman announces major income tax reliefs

 FM Nirmala Sitharaman announces major tax rebates. We propose to bring a personal income tax regime, where income tax rates will be reduced, so now, person earning between Rs 5-7.5 lakhs will be required to pay tax at 10% against current 20%.

Here are the new tax slabs announced by the Finance Minister:

For income upto Rs 5 lakh: No tax

Rs 5-7.5 lakh: 10% (reduced from previous 20%)

Rs 7.5-10 lakh: 15% (reduced from previous 20%)

Rs 12-15 lakh: 25%

Rs 15 lakh: 30%

1:40 PM : Fiscal deficit estimate at 3.5% for FY21

1:35 PM : Nominal GDP growth rate for 2020-21 estimated at 10%

1:30 PM : Need for greater private capital in banks

1:25 PM :Govt to facilitate separation of govt pension trust from PFRDA

1:20 PM :Rs 3.50 lakh crore capital infused in public sector banks

12:45PM:Govt allots Rs 30,000 crore for J&K, Rs 6000 crore for Ladakh

12:35 PM:Govt announces Rs 4,400 crore for clean air projects

12:25 PM : Govt announces Indian Institute of Heritage and Culture

12:20 PM : Rs 85,000 crore for SC, Rs 53,000 crore for ST

12:18 PM :6 lakh anganwadi workers have smartphones to work

12:15 PM :Beti Bachao, Beti Padhao scheme a success, Opposition protests

12:10 PM :Sitharaman announces 100 new airports, more Tejas-like train

12:07 PM :Govt announces Rs 22,000 crore budget for renewable energy sector

12:05 PM:The Delhi-Mumbai Expressway will be completed by 2023

12:03 PM : Special Bridge courses for Teachers and Nurses

12:02 PM: Government announces National Police university and National Forensic university.

12:00 Pm : Govt announces Rs 27,000 crore for development of Industry

Government will announce Rs 3.6 Lakh crore For Jal jeevan Mission

11:58 Am : Rs 3.6 lakh crore allocated for Jal Jeevan Mission to ensure piped water in every household. Rs 2.83 lakh crore allocated for agriculture and allied activities, irrigation and rural development.

Entrepreneurship is strength of India

11:55 Am Entrepreneurship is strength of India. I propose to set up an investment clearance cell that will provided end to end facilitation and support including pre-investment advisory, info on land banks and facilitate clearance at state level.

 Urban local bodies to give 1-year internship to engineers

11:53Am: Govt proposes to start a programme where urban local bodies across the country will give 1-year internship to young engineers.

Centre to announce new education policy soon

11:52 AM : Nirmala Sitharaman: Centre to announce new education policy soon; govt received over 2 lakh suggestions on it.

Govt announces Rs 99,000 crore for education sector

11 :50 AM : We propose Rs 99,300 crore for education sector in 2020-21 and Rs 3000 crore for skill development.

11:48 AM :  Rs 12300 crore for Swachh Bharat Mission

Farm markets need to be liberalised

11:45 AM: Farm markets need to be liberalised and the government is proposing to hand-hold farmers, Finance Minister Nirmala Sitharaman said on Saturday. Presenting the Budget for 2020-21, Sitharaman said the government is proposing a 16-point action plan to boost agriculture and farmers' welfare. Sitharaman said agricultural services need copious investments, and added that the government has insured 6.11 crore farmers under the Pradhan Mantri Fasal Bima Yojna

Sitharaman  announces Rs 2.83 lakh crore budget for agricultural sector

11:40 AM : Sitharaman  announces Rs 2.83 lakh crore budget for agricultural sector

Indian Railways will set up Kisan Rail and Krishi Udaan will be launched

11:34 AM  : To build a seamless national cold supply chain for perishables, Indian Railways will set up Kisan Rail through PPP model so that perishable goods can be transported quickly. Krishi Udaan will be launched by MoCA on international and national routes.

Farmers will be allowed to setup Solar Units on Barren or fallow land

11:32 AM :Comprehensive measures for 100 water-stressed districts being proposed.

Farmers to be allowed to set up solar units on barren/fallow lands; supply power to grids.

Farm markets need to be liberalised, farming need to be made more competitive, hand-holding of farm-based activities need to be provided, sustainable cropping patterns and more tech needed.

11:29 AM :Government to help farmers set up solar power units. Farmers can make a living out of barren land using solar power. Looking to change existing regime that promotes excessive use of chemical fertilisers.

India becomes 5th largest economy in world

11:28 Am :India is now 5th largest economy in world. Central Govt's debt has reduced to 48.7% of GDP from 52.2% in March 2014.

Budget Aims to fullfill the aspirations of people

11:25:Union Budget 2020 will fulfill the aspirations of people

11:24 AM :Central Government debt is come down to 48.7% in March.

11:23 Am: Nirmala Sitharaman says budget is to boost income and purchasing power of people.

11:22 Am :Nirmala Sitharaman underlines the paradigm shift in governance, brought about by the government:

Inflation well contained

Bank recapitalized

Steps taken for the formalization of economy

GST was historic though its chief archtitect (Arun Jaitley) is not with us, which abolish numerous taxes

Inspector raj also vanished, more thrust to MSME

DBT helped to check the leakages

11:20 Am - Nirmala Sitharaman says, "GST has resulted in efficiency gains in transport and logistics sector, inspector raj has vanished, it has benefitted MSME. Consumers have got an annual benefit of Rs 1 lakh crore by GST."

People have reposed faith in Economic Policy : Sitharaman

11:15 AM:  Nirmala Sitharaman says, "With renewed vigour, under PM's leadership, we commit ourselves to present the people of India with all humility and dedication. People have reposed faith in our economic policy."

Sitharaman Pays Tribute to late Former Finance Minister Arun Jaitley

11:07 AM:Nirmala Sitharaman pays tribute to late Finance Minister Arun Jaitley at the start of her Budget speech, remembers his contributions towards bringing the GST regime

11:05 AM: Sitharaman presents full Union Budget 2020

11:00 AM: Niramala Sitharaman to start with her Budget speech

PM Modi and Amit Shah Reaches Parliament 

10:43 AM:Cabinet Meeting starts at Parliament ahead of Budget representation by Nirmala Sitharaman which is scheduled at 11 :00 AM

10:14 Am : Copies of budget arrives at Parliament 

Fin Min reaches Parliament to Present Budget 2020

10:13 Am : Sitharaman and Aurag Thakur with Team reaches Parliament .