{"id":21618,"date":"2020-02-06T09:30:01","date_gmt":"2020-02-06T09:30:01","guid":{"rendered":"https:\/\/www.legalraasta.com\/blog\/?p=21618"},"modified":"2020-02-06T09:31:01","modified_gmt":"2020-02-06T09:31:01","slug":"union-budget-2020","status":"publish","type":"post","link":"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/","title":{"rendered":"Key Highlights of Union Budget 2020-21"},"content":{"rendered":"<div style=\"text-align: left;\" align=\"center\">Introducing the first union budget 2020 of the 3rd decade of the 21st century, Finance Minister Smt. Nirmala Sitharaman revealed a series of far-reaching reforms, pointed at fortifying the Indian economy by a succession of short-term, medium-term, and long-term projects. This year the union budget is themed as &#8221; Ease of Living &#8220;.<\/div>\n<div>\n<p><strong>The Finance Minister Smt. Nirmala Sitharaman said that the Union Budget 2020 aims:<\/strong><\/p>\n<ol>\n<li><span data-preserver-spaces=\"true\">To accomplish seamless delivery of services by Digital governance<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">To enhance the physical quality of life by the National Infrastructure Pipeline<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Risk mitigation by Disaster Resilience<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Social security by Pension and Insurance penetration.<\/span><\/li>\n<\/ol>\n<p><strong>The budget is created around 3 famous themes:<\/strong><\/p>\n<ul>\n<li><strong><span data-preserver-spaces=\"true\">Aspirational India<\/span><\/strong><span data-preserver-spaces=\"true\">\u00a0in which all parts of the society ask better standards of living, with access to health, education and safer jobs.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Economic development<\/span><\/strong><span data-preserver-spaces=\"true\">\u00a0for all, shown in the Prime Minister\u2019s exhortation of \u201cSabkaSaath, SabkaVikas, SabkaVishwas\u201d.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Caring Society<\/span><\/strong><span data-preserver-spaces=\"true\">\u00a0that is both kind and compassionate, where Antyodaya is a portion of faith.<\/span><\/li>\n<\/ul>\n<p><strong>Three parts of Aspirational India<\/strong><\/p>\n<ul>\n<li>Agriculture, Irrigation, and Rural Development<\/li>\n<li>Wellness, Water, and Sanitation<\/li>\n<li>Education and Skills<\/li>\n<\/ul>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_73 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">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: #999;color:#999\" 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: #999;color:#999\" 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-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/#The_Key_Highlights_of_Union_Budget_2020-21_are_as_follows\" title=\"The Key Highlights of Union Budget 2020-21 are as follows:\">The Key Highlights of Union Budget 2020-21 are as follows:<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/#Agriculture_Irrigation_and_Rural_Development\" title=\"Agriculture, Irrigation and Rural Development\">Agriculture, Irrigation and Rural Development<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/#Wellness_Water_and_Sanitation\" title=\"Wellness, Water and Sanitation\">Wellness, Water and Sanitation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/#Education_and_Skills\" title=\"Education and Skills\">Education and Skills<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/#Economic_Development\" title=\"Economic Development\">Economic Development<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/#Infrastructure\" title=\"Infrastructure\">Infrastructure<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/#Highways\" title=\"Highways:\">Highways:<\/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.legalraasta.com\/blog\/union-budget-2020\/#Indian_Railways\" title=\"Indian Railways:\">Indian Railways:<\/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.legalraasta.com\/blog\/union-budget-2020\/#Ports_Water-ways\" title=\"Ports &amp; Water-ways:\">Ports &amp; Water-ways:<\/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.legalraasta.com\/blog\/union-budget-2020\/#Airports\" title=\"Airports:\">Airports:<\/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.legalraasta.com\/blog\/union-budget-2020\/#Electricity\" title=\"Electricity:\">Electricity:<\/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.legalraasta.com\/blog\/union-budget-2020\/#Power\" title=\"Power:\">Power:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/#Caring_Society\" title=\"Caring Society\">Caring Society<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/#Culture_Tourism\" title=\"Culture &amp; Tourism\">Culture &amp; Tourism<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/#Environment_Climate_Change\" title=\"Environment &amp; Climate Change\">Environment &amp; Climate Change<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/#Governance\" title=\"Governance\">Governance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/#Financial_Sector\" title=\"Financial Sector\">Financial Sector<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/#Financial_Market\" title=\"Financial Market\">Financial Market<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/#Infrastructure_Financing\" title=\"Infrastructure Financing\">Infrastructure Financing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/#Fiscal_Management\" title=\"Fiscal Management\">Fiscal Management<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/#ITR_and_Direct_Tax\" title=\"ITR and Direct Tax\">ITR and Direct Tax<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/#Personal_Income_Tax\" title=\"Personal Income Tax:\">Personal Income Tax:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/#Corporate_Tax\" title=\"Corporate Tax:\">Corporate Tax:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/#Dividend_Distribution_Tax_DDT\" title=\"Dividend Distribution Tax (DDT):\">Dividend Distribution Tax (DDT):<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/#MSMEs_to_boost_less-cash_economy\" title=\"MSMEs to boost less-cash economy\">MSMEs to boost less-cash economy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/#Cooperatives\" title=\"Cooperatives:\">Cooperatives:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-27\" href=\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/#Tax_Facilitation_Patterns\" title=\"Tax Facilitation Patterns\">Tax Facilitation Patterns<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-28\" href=\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/#Instant_PAN\" title=\"Instant PAN\">Instant PAN<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-29\" href=\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/#%E2%80%98Vivad_Se_Vishwas_scheme\" title=\"\u2018Vivad Se Vishwas\u2019 scheme\">\u2018Vivad Se Vishwas\u2019 scheme<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-30\" href=\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/#Indirect_Tax\" title=\"Indirect Tax\">Indirect Tax<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-31\" href=\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/#GST\" title=\"GST:\">GST:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-32\" href=\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/#Customs_Duties\" title=\"Customs Duties:\">Customs Duties:<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-33\" href=\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/#Marvelous_Achievements_of_Indian_Economy\" title=\"Marvelous Achievements of Indian Economy\">Marvelous Achievements of Indian Economy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-34\" href=\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/#Future_Aim_for_supporting_Indias_unique_global_leadership_driven_by_Digital_Revolution\" title=\"Future Aim for supporting India\u2019s unique global leadership, driven by Digital Revolution\">Future Aim for supporting India\u2019s unique global leadership, driven by Digital Revolution<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"The_Key_Highlights_of_Union_Budget_2020-21_are_as_follows\"><\/span>The Key Highlights of Union Budget 2020-21 are as follows:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h4><span class=\"ez-toc-section\" id=\"Agriculture_Irrigation_and_Rural_Development\"><\/span><strong><span data-preserver-spaces=\"true\">Agriculture, Irrigation and Rural Development<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>The Finance Minister said that more than Rs 2.83 lakh crore will be used on Agriculture, Rural Development, Irrigation and allied activities as farmers and rural poor remain to remain the key center of the Government. Restating the promise of doubling farmers\u2019 income by 2022, She said, Government has already given resilience for 6.11 crore farmers protected under PM Fasal Bima Yojana. Agriculture credit target for the year 2020-21 has been set at Rs 15 lakh crore. All qualified recipients of PM-KISAN will be included under the KCC scheme. Furthermore, general measures for one hundred water-stressed districts, plan to build PM-KUSUM to provide 20 lakh farmers for setting up stand-alone solar pumps and for another 15 lakh farmers to solarise their grid-connected pump sets, establishing up of suitable warehouses at the block\/taluk level and in Horticulture sector with center on \u201cone product one district\u201d for more helpful marketing and export are few of the steps in that direction. Foot and Mouth disease, brucellosis in cattle and also peste des petits ruminants(PPR) in sheep and goat to be reduced by 2025, Coverage of artificial insemination to be raised from the present 30% to 70%, MNREGS to be linked to increasing fodder farms, doubling of milk processing capacity from 53.5 million MT to 108 million MT by 2025 to be promoted. So on the Blue Economy, the building of fish production to 200 lakh tonnes is introduced by 2022-23. Youth to be included in fishery extension by 3477 Sagar Mitras and 500 Fish Farmer Producer Organisations. Fishery exports expected to be increased to Rs 1 lakh crore by 2024-25. DeenDayalAntyodayaYojana- for the alleviation of poverty, half a crore households are prepared with 58 lakh SHGs and it will be further developed.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Wellness_Water_and_Sanitation\"><\/span><strong><span data-preserver-spaces=\"true\">Wellness, Water and Sanitation<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li><span data-preserver-spaces=\"true\">Rs. 69,000 crore earmarked for the overall Healthcare sector.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Rs. 6400 crore (out of Rs. 69,000 crores) for PM Jan Arogya Yojana (PMJAY):<\/span><\/li>\n<\/ul>\n<ol>\n<li style=\"list-style-type: none;\">\n<ol>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">More enhanced than 20,000 hospitals already impaneled under PM Jan Arogya Yojana (PMJAY).<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Viability Gap Funding window intended for setting up hospitals in the PPP model.<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Aspirational Districts with no Ayushman impaneled hospitals to be included in the initial stage.<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Targeting diseases with a properly planned defensive regime using Machine Learning and AI.<\/span><\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<ul>\n<li><span data-preserver-spaces=\"true\">Jan Aushadhi Kendra Scheme to give 2000 medicines and 300 surgical in every district by 2024.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">TB Harega Desh Jeetega campaign started &#8211; a promise to end Tuberculosis by 2025.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Rs. 3.60 lakh crore recommended for Jal Jeevan Mission:<\/span>\n<ul>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Rs. 11,500 crore for the year 2020-21.<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Growing local water sources, recharging existing sources, and encouraging water harvesting and desalination.<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Cities with a million-plus population to be supported to complete the goal during the current year itself.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><span data-preserver-spaces=\"true\">About Rs.12, 300 crores put up in for Swachh Bharat Mission in 2020-21:<\/span>\n<ul>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Commitment to ODF-Plus in order to support ODF behavior.<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Stress on liquid and greywater management.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><span data-preserver-spaces=\"true\">\u00a0Center also on Solid-waste collection, source segregation, and processing.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Education_and_Skills\"><\/span><strong><span data-preserver-spaces=\"true\">Education and Skills<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li><span data-preserver-spaces=\"true\">Rs. 99,300 crore for the education sector and Rs. 3000 crore for skill improvement in 2020-21.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">New Education Policy to be published soon.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">National Police University and National Forensic Science University designed for watching science, forensic science, and cyber-forensics.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Grade level full-fledged online education program by Top-100 institutions in the National Institutional Ranking Framework.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Up to 1-year internship to fresh engineers to be given by Urban Local Bodies.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">The budget aims to join a medical college to an existing district hospital in PPP mode.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Special bridge courses to be created by the Ministries of Health, and Skill Development:<\/span><\/li>\n<\/ul>\n<ol>\n<li style=\"list-style-type: none;\">\n<ol>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">To meet the demand for teachers, nurses, para-medical staff and caregivers abroad.<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">To serve in equivalence in the work sets of the workforce and employers\u2019 standards.<\/span><\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<ul>\n<li><span data-preserver-spaces=\"true\">150 higher educational institutions to begin apprenticeship set degree\/diploma courses by March 2021.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">External Commercial Borrowings and FDI to be allowed for the education sector.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Ind-SAT proposed for Asian and African countries as a portion of the Study in India program.<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Economic_Development\"><\/span><strong><span data-preserver-spaces=\"true\">Economic Development<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span data-preserver-spaces=\"true\">Industry, Commerce, and Investment<\/span><\/p>\n<ul>\n<li><span data-preserver-spaces=\"true\">Rs. 27,300 crore earmarked for 2020-21 for growth and promotion of Industry and Commerce.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Investment Clearance Cell meant to be set up<\/span><\/li>\n<\/ul>\n<ol>\n<li><span data-preserver-spaces=\"true\">To give \u201cend to end\u201d facilitation and assistance.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">To work by a portal.<\/span><\/li>\n<\/ol>\n<ul>\n<li><span data-preserver-spaces=\"true\">5 new smart cities meant to be developed.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Scheme to help manufacture mobile phones, electronic equipment and semi-conductor packaging offered.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">National Technical Textiles Mission to be set up:<\/span><\/li>\n<\/ul>\n<ol>\n<li><span data-preserver-spaces=\"true\">\u00a0With four-year implementation period from 2020-21 to 2023-24.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">\u00a0At an estimated outlay of Rs 1480 crore.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">\u00a0To position India as a global leader in Technical Textiles.<\/span><\/li>\n<\/ol>\n<ul>\n<li><span data-preserver-spaces=\"true\">New scheme NIRVIK to be launched to achieve higher export credit disbursement, which provides for:<\/span><\/li>\n<\/ul>\n<ol>\n<li><span data-preserver-spaces=\"true\">More high-priced insurance coverage<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">\u00a0The decrease in premium for small exporters<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">\u00a0Simplified process for claim settlements.\u00a0<\/span><\/li>\n<\/ol>\n<ul>\n<li><span data-preserver-spaces=\"true\">Turnover of Government e-Marketplace (GeM) intended to be taken to Rs 3 lakh crore.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Scheme for Revision of duties and taxes on exported products to be started.<\/span><\/li>\n<\/ul>\n<ol>\n<li><span data-preserver-spaces=\"true\">\u00a0Exporters to be digitally refunded duties and taxes imposed at the Central, State and local levels, which are different not exempted or refunded.<\/span><\/li>\n<\/ol>\n<ul>\n<li><span data-preserver-spaces=\"true\">All Ministries to assign quality standard orders as per PM\u2019s idea of \u201cZero Defect-Zero Effect\u201d manufacturing.<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Infrastructure\"><\/span><strong><span data-preserver-spaces=\"true\">Infrastructure<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li><span data-preserver-spaces=\"true\">Rs.100 lakh crore to be spent in infrastructure over the next 5 years.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">National Infrastructure Pipeline<\/span><em><span data-preserver-spaces=\"true\">:<\/span><\/em><\/li>\n<\/ul>\n<ol>\n<li><span data-preserver-spaces=\"true\">Rs. 103 lakh crore worth projects started on 31st December 2019.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">\u00a0More than 6500 projects over sectors, to be listed as per their size and stage of growth.\u00a0<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">A National Logistics Policy to be published soon:\u00a0<\/span><\/li>\n<\/ol>\n<p><span data-preserver-spaces=\"true\">a) To define roles of the Union Government, State Governments and important regulators.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">b) A single window e-logistics market to be built<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">c) Focus to be on the creation of employment, skills and making MSMEs competitive.<\/span><\/p>\n<ul>\n<li><span data-preserver-spaces=\"true\">National Skill Development Agency to provide a special drive to infrastructure-focused skill development opportunities.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Project preparation tools for infrastructure projects offered.<\/span><\/li>\n<\/ul>\n<p><span data-preserver-spaces=\"true\">a) To actively include young engineers, management graduates and economists from Universities.<\/span><\/p>\n<ul>\n<li><span data-preserver-spaces=\"true\">Infrastructure agencies of the government to include youth-power in start-ups.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Rs.1.7 lakh crore intended for transport infrastructure in 2020-21.<\/span><\/li>\n<\/ul>\n<h4><span class=\"ez-toc-section\" id=\"Highways\"><\/span><strong><span data-preserver-spaces=\"true\">Highways:<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li><span data-preserver-spaces=\"true\">Accelerated development of highways to be tackled, including:<\/span><\/li>\n<\/ul>\n<ol>\n<li><span data-preserver-spaces=\"true\">2500 Km of way control highways.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">\u00a09000 Km of economic corridors.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">\u00a02000 Km of coastal and land port roads.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">2000 Km of strategic highways.<\/span><\/li>\n<\/ol>\n<ul>\n<li><span data-preserver-spaces=\"true\">Delhi-Mumbai Expressway and 2 other packages to be constructed by 2023.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Chennai-Bengaluru Expressway to be incited.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Moved to monetize at least 12 lots of highway bundles of above 6000 Km before 2024.<\/span><\/li>\n<\/ul>\n<h4><span class=\"ez-toc-section\" id=\"Indian_Railways\"><\/span><strong><span data-preserver-spaces=\"true\">Indian Railways:<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li><span data-preserver-spaces=\"true\">5 measures:<\/span><\/li>\n<\/ul>\n<ol>\n<li><span data-preserver-spaces=\"true\">\u00a0Large solar power capacity to be set up beside rail tracks, on land owned by railways.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">4 station re-development projects and operation of 150 passenger trains by PPP.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">More Tejas type trains to join iconic tourist destinations.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">\u00a0High-speed train connecting Mumbai and Ahmedabad to be actively tracked.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">\u00a0148 km long Bengaluru Suburban transport plan at a cost of Rs 18600 crore, to have fared on the metro model. Central Government to give 20% of equity and help external support up to 60% of the project cost.<\/span><\/li>\n<\/ol>\n<ul>\n<li><span data-preserver-spaces=\"true\">Indian Railways\u2019 performances:\u00a0<\/span><\/li>\n<\/ul>\n<ol>\n<li><span data-preserver-spaces=\"true\">\u00a0550 Wi-fi facilities commissioned in several stations.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">\u00a0Zero unmanned crossings.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">\u00a027000 Km of tracks to be electrified.<\/span><\/li>\n<\/ol>\n<h4><span class=\"ez-toc-section\" id=\"Ports_Water-ways\"><\/span><strong><span data-preserver-spaces=\"true\">Ports &amp; Water-ways:<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li><span data-preserver-spaces=\"true\">Corporatizing at least one main port and its listing on stock exchanges to be held.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Governance framework consistency with global benchmarks required for more effective sea-ports.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Economic activity along river banks to be energized as per Prime Minister\u2019s Arth Ganga thought.<\/span><\/li>\n<\/ul>\n<h4><span class=\"ez-toc-section\" id=\"Airports\"><\/span><strong><span data-preserver-spaces=\"true\">Airports:<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li><span data-preserver-spaces=\"true\">100 more airports to be produced by 2024 to promote the Udaan scheme.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Air fleet numbers required to go up from present 600 to 1200 during this time.<\/span><\/li>\n<\/ul>\n<h4><span class=\"ez-toc-section\" id=\"Electricity\"><\/span><strong><span data-preserver-spaces=\"true\">Electricity:<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li><span data-preserver-spaces=\"true\">\u201cSmart\u201d metering to be promoted.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">More steps to reform DISCOMs to be taken.<\/span><\/li>\n<\/ul>\n<h4><span class=\"ez-toc-section\" id=\"Power\"><\/span><strong><span data-preserver-spaces=\"true\">Power:<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li><span data-preserver-spaces=\"true\">Rs.22, 000 crores intended for power and renewable energy sector in 2020-21.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Development of national gas grid from the present 16200 km to 27000 km offered.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Further changes to promote transparent price discovery and ease of transactions.<\/span><\/li>\n<\/ul>\n<p><strong><span data-preserver-spaces=\"true\">New Economy<\/span><\/strong><\/p>\n<ul>\n<li><span data-preserver-spaces=\"true\">To take benefit of new technologies:<\/span><\/li>\n<\/ul>\n<ol>\n<li><span data-preserver-spaces=\"true\">Policy to allow the private sector to create Data Centre parks during the country to be carried out soon.\u00a0\u00a0<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">\u00a0Fiber to the Home (FTTH) connections by Bharatnet to link 100,000-gram panchayats this year.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">\u00a0Rs.6000 crore intended for the Bharatnet program in 2020-21.<\/span><\/li>\n<\/ol>\n<ul>\n<li><span data-preserver-spaces=\"true\">Proposals to benefit Start-ups:<\/span><\/li>\n<\/ul>\n<ol>\n<li><span data-preserver-spaces=\"true\">\u00a0A digital platform to be developed to help seamless application and capture of IPRs.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Knowledge Translation Clusters to be set up over several technology sectors including current and developing areas.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">For designing, fabrication, and validation of proof of idea, and further scaling up Technology Clusters, harboring testbeds and small scale manufacturing plants to be built.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">\u00a0Mapping of India\u2019s genetic landscape- Two new national level Science Schemes to be opened to form a comprehensive database.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Early life funding offered, including a seed fund to encourage ideation and growth of early-stage Start-ups.<\/span><\/li>\n<\/ol>\n<ul>\n<li><span data-preserver-spaces=\"true\">Rs.8000 crore offered over 5 years for National Mission on Quantum Technologies and Applications.<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Caring_Society\"><\/span><strong><span data-preserver-spaces=\"true\">Caring Society<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span data-preserver-spaces=\"true\">Focusing on Women &amp; Child, Social Welfare and Culture and Tourism.<\/span><\/p>\n<ol>\n<li><span data-preserver-spaces=\"true\">Putting of Rs. 35,600 crore for nutrition-related programs introduced for the FY2020-21.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Rs.28, 600 crores meant for women-specific programs.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">The issue about the age of a girl entering motherhood &#8211; advised appointing a task force to grant its support in 6 months.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Financial support for full acceptance of technologies, recognized by the Ministry of Housing and Urban Affairs to assure no manual washing of sewer systems or septic tanks, to be given.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Rs. 85, 000 crores intended for 2020-21 for the welfare of Scheduled Castes and Other Backward Classes.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Rs. 53, 700 crores given to additional development and welfare of Scheduled Tribes.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Enhanced allocation of Rs. 9,500 crore given for 2020-21 for senior citizens and Divyang.<\/span><\/li>\n<\/ol>\n<h4><span class=\"ez-toc-section\" id=\"Culture_Tourism\"><\/span><strong><span data-preserver-spaces=\"true\">Culture &amp; Tourism<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ol>\n<li><span data-preserver-spaces=\"true\">Putting of Rs. 2500 crore for 2020-21 for tourism promotion.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Rs.3150 crore intended for the Ministry of Culture for 2020-21.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">An Indian Institute of Heritage and Conservation under Ministry of Culture offered with the status of a deemed University.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">5 archaeological sites to be developed as iconic sites. With on-site Museums Rakhigarhi (Haryana), Hastinapur (Uttar Pradesh), Shivsagar (Assam), Dholavira (Gujarat), Adichanallur (Tamil Nadu)<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Re-curation of the Indian Museum in Kolkata, stated by Prime Minister in January 2020.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Museum on Numismatics and Trade to be placed in the historic Old Mint building in Kolkata.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">4 more museums from over the country to be held up for renovation and re-curation.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Assistance for setting up of a Tribal Museum in Ranchi (Jharkhand).<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Maritime Museum to be fixed up at Lothal- the Harrapan age maritime site near Ahmedabad, by the Ministry of Shipping.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">State governments planning to design a roadmap for some known destinations. And express financial plans during 2021 upon which defined grants to be made available to the States in 2020-21.<\/span><\/li>\n<\/ol>\n<h4><span class=\"ez-toc-section\" id=\"Environment_Climate_Change\"><\/span><strong><span data-preserver-spaces=\"true\">Environment &amp; Climate Change<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ol>\n<li><span data-preserver-spaces=\"true\">Allocation for this idea to be Rs.4400 crore for 2020-21.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Recommended advising the utilities to close the running old thermal power plants with carbon emission over the pre-set norms.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">States that are forming and executing plans for assuring cleaner air in cities over one million to be supported.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">PM launched the Coalition for Disaster Resilient Infrastructure (CDRI) with Secretariat in Delhi. Second such international action after International Solar Alliance.<\/span><\/li>\n<\/ol>\n<h4><span class=\"ez-toc-section\" id=\"Governance\"><\/span><strong><span data-preserver-spaces=\"true\">Governance<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ol>\n<li><span data-preserver-spaces=\"true\">Clear and clean, corruption-free, policy-driven, good in purpose and most importantly believing in belief.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Taxpayer Charter to be blessed in the Statute will bring fairness and effectiveness in tax administration.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Companies Act to be amended to create into statues, criminal liability for some civil acts.<\/span>\n<ol>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Other laws with such terms are to be corrected after the examination.<\/span><\/li>\n<\/ol>\n<\/li>\n<li><span data-preserver-spaces=\"true\">Significant reforms in recruitment to Non-Gazetted posts in Government and Public sector banks:<\/span>\n<ol>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">An independent, professional and specialist National Recruitment Agency (NRA) for managing a computer-based online Common Eligibility Test for recruitment.<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">A test-center in all districts, especially in the Aspirational Districts.<\/span><\/li>\n<\/ol>\n<\/li>\n<li><span data-preserver-spaces=\"true\">A robust mechanism to be grown for appointment including direct recruitment to different Tribunals and specialized bodies to bring the best talents and professional experts.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Contract Act to be extended.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">New National Policy on Official Statistics to:<\/span>\n<ol>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Promote the use of the most advanced technologies including A<\/span><a class=\"_e75a791d-denali-editor-page-rtfLink\" href=\"https:\/\/www.legalraasta.com\/blog\/legal-ai-software\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span data-preserver-spaces=\"true\">I software<\/span><\/a><span data-preserver-spaces=\"true\">.<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Lay down a road-map towards revived data collection, integrated data portal and timely distribution of information.<\/span><\/li>\n<\/ol>\n<\/li>\n<li><span data-preserver-spaces=\"true\">A sum of Rs. 100 crore allotted to start the preparations for the G20 presidency to be hosted in India in the year 2022.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Development of North East region:<\/span>\n<ol>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">The increased flow of funds using the online portal by the Government.<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Greater access to the financial support of Multilateral and Bilateral funding agencies.<\/span><\/li>\n<\/ol>\n<\/li>\n<li><span data-preserver-spaces=\"true\">Extension of Union Territories of J&amp;K and Ladakh:<\/span>\n<ol>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">An amount of Rs. 30,757 crore given for the financial year 2020-21.<\/span><\/li>\n<\/ol>\n<\/li>\n<li><span data-preserver-spaces=\"true\">\u00a0The Union Territory of Ladakh has been given with Rs. 5,958.<\/span><\/li>\n<\/ol>\n<h4><span class=\"ez-toc-section\" id=\"Financial_Sector\"><\/span><strong><span data-preserver-spaces=\"true\">Financial Sector<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ol>\n<li><span data-preserver-spaces=\"true\">Reforms achieved in PSBs :<\/span>\n<ol>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">10 banks consolidated into 4.<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Rs. 3,50,000 crore capital infused.<\/span><\/li>\n<\/ol>\n<\/li>\n<li><span data-preserver-spaces=\"true\">Governance reforms to be brought out to bring in clarity and greater professionalism in PSBs.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Few PSBs to be inspired to address the capital market to raise additional capital<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Deposit Insurance and Credit Guarantee Corporation (DICGC) allowed to build Deposit Insurance Coverage to Rs. 5 lakh from Rs.1 lakh per depositor.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Scheduled Commercial Bank\u2019s health under monitoring by a robust mechanism, keeping depositors\u2019 money safe.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Cooperative Banks to be established by changing the Banking Regulation Act for:<\/span>\n<ol>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Enhancing professionalism.<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Facilitating access to capital.<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Enhancing governance and oversight for sound banking through the RBI.<\/span><\/li>\n<\/ol>\n<\/li>\n<li><span data-preserver-spaces=\"true\">NBFCs eligibility limit for debt recovery decreased i.e :<\/span>\n<ol>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Rs. 500 crore &#8211; Rs 100 crore asset size.<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Rs 1 crore &#8211; Rs 50 lakh loan size.<\/span><\/li>\n<\/ol>\n<\/li>\n<li><span data-preserver-spaces=\"true\">Private capital in the Banking system: The government to sell its balance holding in IDBI Bank to private, retail and institutional investors buy the stock exchange.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Simpler mobility in jobs:<\/span>\n<ol>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Auto-enrolment in Universal Pension coverage.<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Inter-operability mechanism to safeguard the accumulated corpus.<\/span><\/li>\n<\/ol>\n<\/li>\n<li><span data-preserver-spaces=\"true\">Pension Fund Regulatory Development Authority of India Act to be changed to:<\/span>\n<ol>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Increase the regulating role of PFRDAI.<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Promote separation of NPS trust for government employees from PFRDAI.<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Facilitate the establishment of a Pension Trust by the employees other than Government.<\/span><\/li>\n<\/ol>\n<\/li>\n<li><span data-preserver-spaces=\"true\">Factor Regulation Act 2011 to be changed to:<\/span>\n<ol>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Authorize NBFCs to increase invoice financing to the MSMEs through TReDS<\/span><\/li>\n<\/ol>\n<\/li>\n<li><span data-preserver-spaces=\"true\">New scheme to give subordinated debt for entrepreneurs of MSMEs by the banks<\/span>\n<ol>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Would be added as quasi-equity.<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">It will be fully guaranteed by the Credit Guarantee Trust for Medium and Small Entrepreneurs (CGTMSE).<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">The corpus of the CGTMSE will accordingly be increased by the government.<\/span><\/li>\n<\/ol>\n<\/li>\n<li><span data-preserver-spaces=\"true\">The window for MSME\u2019s debt restructuring by RBI to be increased by one year till March 31, 2021.<\/span>\n<ol>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">More than 5 lakh MSMEs have already been served.<\/span><\/li>\n<\/ol>\n<\/li>\n<li><span data-preserver-spaces=\"true\">An app-based invoice financing loan product for MSMEs to be originated.<\/span>\n<ol>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">To stop the problem of delayed payments and significant cash flows mismatches.<\/span><\/li>\n<\/ol>\n<\/li>\n<li><span data-preserver-spaces=\"true\">Export promotion of MSMEs:<\/span>\n<ol>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">For the chosen sector such as pharmaceuticals, auto components, and others.<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Rs 1000 crore scheme secured by EXIM Bank together with SIDBI.<\/span><\/li>\n<\/ol>\n<\/li>\n<li><span data-preserver-spaces=\"true\">\u00a0Handholding guide for technology upgradations, R&amp;D, business strategy, etc.<\/span><\/li>\n<\/ol>\n<h4><span class=\"ez-toc-section\" id=\"Financial_Market\"><\/span><strong><span data-preserver-spaces=\"true\">Financial Market<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ol>\n<li><span data-preserver-spaces=\"true\">Developing Bond Market.<\/span>\n<ol>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">\u00a0A few main parts of Government securities to be opened fully for non -resident investors also.<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">The FPI limit in corporate bonds increased to 15% from 9% of its outstanding stock.<\/span><\/li>\n<\/ol>\n<\/li>\n<li><span data-preserver-spaces=\"true\">New legislation to be made for laying down a mechanism for the web of financial contracts. The scope of credit failure exchanges to increase.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Debt Based Exchange Traded Fund is to be processed and built by a new Debt-ETF consisting primarily of Government Securities.<\/span>\n<ol>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">To provide an engaging way to retail investors, pension funds and long-term investors.<\/span><\/li>\n<\/ol>\n<\/li>\n<li><span data-preserver-spaces=\"true\">A Partial Credit Guarantee Scheme for the NBFCs formed post the Union budget 2019-20 to address their liquidity constraints.\u00a0<\/span>\n<ol>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">New mechanism to be devised to further this.<\/span><\/li>\n<\/ol>\n<\/li>\n<li><span data-preserver-spaces=\"true\">\u00a0Government assistance to securities so drifted.<\/span><\/li>\n<\/ol>\n<h4><span class=\"ez-toc-section\" id=\"Infrastructure_Financing\"><\/span><strong><span data-preserver-spaces=\"true\">Infrastructure Financing<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ol>\n<li><span data-preserver-spaces=\"true\">Rs.103 lakh crore National Infrastructure Pipeline projects first announced.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Rs 22,000 crore to provide equity support to Infrastructure Finance Companies such as IIFCL and a subsidiary of NIIF.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">IFSC, GIFT city: full of potential to grow a center of international finance and a center for high-end data processing:<\/span><\/li>\n<\/ol>\n<p><span data-preserver-spaces=\"true\">\u00a0An International Bullion exchange(s) to be set up as an extra option for trade by global market participants with the support of the regulator.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">Disinvestment<\/span><\/strong><\/p>\n<p><span data-preserver-spaces=\"true\">Government to trade a part of its holding in LIC by way of Initial Public Offer (IPO).<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Fiscal_Management\"><\/span><strong><span data-preserver-spaces=\"true\">Fiscal Management<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li><span data-preserver-spaces=\"true\">XV Finance Commission (FC):<\/span><\/li>\n<\/ul>\n<ol>\n<li><span data-preserver-spaces=\"true\">XV Finance Commission has provided its first report for FY2020-21<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Tips accepted in large measure<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Its final report for five years starting 2021-22 to be submitted during the latter part of the year.<\/span><\/li>\n<\/ol>\n<ul>\n<li><span data-preserver-spaces=\"true\">GST Compensation Fund:<\/span><\/li>\n<\/ul>\n<ol>\n<li><span data-preserver-spaces=\"true\">\u00a0Balances due out of the collection of the years 2016-17 and 2017-18 to be given to the Fund, in 2 installments.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Hereinafter, shifts to the fund to be restricted only to the collection by way of GST compensation cess.<\/span><\/li>\n<\/ol>\n<ul>\n<li><span data-preserver-spaces=\"true\">Overhaul of Centrally Sponsored Schemes and Central Sector Schemes required:<\/span><\/li>\n<\/ul>\n<ol>\n<li><span data-preserver-spaces=\"true\">To join them with developing social and economic demands of tomorrow<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">To assure that scarce public resources are spent optimally<\/span><\/li>\n<\/ol>\n<ul>\n<li><span data-preserver-spaces=\"true\">On the recent debate over the clarity and credibility of projected fiscal numbers, it is confirmed that the method adopted is submissive with the FRBM Act.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">For the FY 2019-20:<\/span><\/li>\n<\/ul>\n<ol>\n<li><span data-preserver-spaces=\"true\">\u00a0Revised Measures of Expenditure: at Rs.26.99 lakh crore<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">\u00a0Revised Calculations of Receipts: valued at Rs.19.32 lakh crore.<\/span><\/li>\n<\/ol>\n<ul>\n<li><span data-preserver-spaces=\"true\">For the year 2020-21:<\/span><\/li>\n<\/ul>\n<ol>\n<li><span data-preserver-spaces=\"true\">\u00a0The nominal increase in GDP measured at 10%.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">\u00a0Receipts: valued at Rs.22.46 lakh cr<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Expenditure: at Rs.30.42 lakh cr.<\/span><\/li>\n<\/ol>\n<ul>\n<li><span data-preserver-spaces=\"true\">Important tax reforms for increasing investments recently undertaken. But, expected tax happiness required to take time.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Fiscal deficit of 3.8% expected in RE 2019-20 and 3.5% for BE 2020-21. It contains 2 parts :<\/span><\/li>\n<\/ul>\n<ol>\n<li><span data-preserver-spaces=\"true\">\u00a03.3% for the year 2019-20 and 3% for the 2020-21 budget measure.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Deviation of 0.5%, compatible with Section 4(3) of the FRBM Act, both for RE 2019-20 and BE 2020-21. (Section 4 (2) of the FRBM Act provides for an activate mechanism for a change from the expected fiscal deficit on account of structural improvements in the economy with unanticipated fiscal implications.)<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">\u00a0Return path, committing to the fiscal union without negotiating needs of investment out of public funds, is set in Medium Term Fiscal Policy cum Strategy Statement.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">\u00a0Market borrowings: Net market borrowings: Rs.4.99 lakh crore in 2019-20 &amp; Rs.5.36 lakh crore for 2020-21.<\/span><\/li>\n<\/ol>\n<ul>\n<li><span data-preserver-spaces=\"true\">A large part of the borrowings for the financial year 2020-21 to go towards Capital expenditure that has been sized up by higher than 21%.<\/span><\/li>\n<\/ul>\n<\/div>\n<div>\n<h3><span class=\"ez-toc-section\" id=\"ITR_and_Direct_Tax\"><\/span><strong><span data-preserver-spaces=\"true\">ITR and Direct Tax<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong><span data-preserver-spaces=\"true\">Direct Tax Proposals\u00a0<\/span><\/strong><span data-preserver-spaces=\"true\">&#8211; To incite germination, simplify the tax structure, bring the comfort of compliance, and decrease litigations.<\/span><\/p>\n<ul>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"Personal_Income_Tax\"><\/span><strong><span data-preserver-spaces=\"true\">Personal Income Tax:<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p><span data-preserver-spaces=\"true\">1)Important assistance to middle-class taxpayers.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">2)Latest and simplified personal income tax regime proposed:<\/span><\/p>\n<div class=\"table-1\">\n<table width=\"100%\">\n<thead>\n<tr>\n<th align=\"left\"><strong>Taxable Income Slab (Rs.)<\/strong><\/th>\n<th align=\"left\"><strong>Existing tax rates<\/strong><\/th>\n<th align=\"left\"><strong>New tax rates<\/strong><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td align=\"left\">0-2.5 Lakh<\/td>\n<td align=\"left\">Exempt<\/td>\n<td align=\"left\">Exempt<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">2.5-5 Lakh<\/td>\n<td align=\"left\">5%<\/td>\n<td align=\"left\">5%<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">5-7.5 Lakh<\/td>\n<td align=\"left\">20%<\/td>\n<td align=\"left\">10%<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">7.5-10 Lakh<\/td>\n<td align=\"left\">20%<\/td>\n<td align=\"left\">15%<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">10-12.5 Lakh<\/td>\n<td align=\"left\">30%<\/td>\n<td align=\"left\">20%<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">12.5-15 Lakh<\/td>\n<td align=\"left\">30%<\/td>\n<td align=\"left\">25%<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">Above 15 Lakh<\/td>\n<td align=\"left\">30%<\/td>\n<td align=\"left\">30%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><span data-preserver-spaces=\"true\">3)About 70 of the existing exemptions and deductions (more than 100) to be eliminated in the new simplified regime.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">4)Remaining exemptions and deductions to be examined and rationalized in the coming years.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">5)New tax regime to be optional &#8211; an individual may proceed to pay tax as per the old regime and get deductions and exemptions.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">6)Measures to pre-fill the income tax return inducted so that an individual who choose for the new regime gets pre-filled income tax returns and will require no assistance from an expert to pay income tax.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">7) New regime to cause measured revenue forgone of Rs. 40,000 crore per year.<\/span><\/p>\n<\/div>\n<ul>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"Corporate_Tax\"><\/span><strong><span data-preserver-spaces=\"true\">Corporate Tax:<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<ol>\n<li style=\"list-style-type: none;\">\n<ol>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">The tax rate of 15% increased to new electricity production companies.<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Indian corporate tax rates are now considered the lowest in the world.<\/span><\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<ul>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"Dividend_Distribution_Tax_DDT\"><\/span><strong><span data-preserver-spaces=\"true\">Dividend Distribution Tax (DDT):<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<ol>\n<li style=\"list-style-type: none;\">\n<ol>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">DDT removed giving India a more engaging investment stop.<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Deduction to be allotted for dividends received by the operating company from its subsidiary.<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Rs. 25,000 crore expected annual revenue is waived.<\/span><\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<ul>\n<li><strong><span data-preserver-spaces=\"true\">Start-ups:<\/span><\/strong><\/li>\n<\/ul>\n<ol>\n<li style=\"list-style-type: none;\">\n<ol>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Start-ups with turnover up to Rs. 100 crore to experience a 100% deduction for 3 continuous assessment years out of 10 years.<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Tax payment on ESOPs complied.<\/span><\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<ul>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"MSMEs_to_boost_less-cash_economy\"><\/span><strong><span data-preserver-spaces=\"true\">MSMEs to boost less-cash economy<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p><span data-preserver-spaces=\"true\">Turnover threshold for audit raised to Rs. 5 crores from Rs. 1 crore for businesses moving with less than 5% business transactions in cash.<\/span><\/p>\n<ul>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"Cooperatives\"><\/span><strong><span data-preserver-spaces=\"true\">Cooperatives:<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<ol>\n<li style=\"list-style-type: none;\">\n<ol>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Parity made within cooperatives and the corporate sector.<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Choosing to cooperative societies to be charged at 22% + 10% surcharge and 4% cess with no exemption or deductions.<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Cooperative societies exempted from Alternate Minimum Tax (AMT) just like Companies are excused from the Minimum Alternate Tax (MAT).<\/span><\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<ul>\n<li><strong><span data-preserver-spaces=\"true\">Tax concession for foreign investments:\u00a0<\/span><\/strong><span data-preserver-spaces=\"true\">100% tax exemption to the interest, dividend, and capital gains income on the investment made in infrastructure and priority sectors before 31st March 2024 with the least lock-in period of 3 years through the Sovereign Wealth Fund of foreign governments.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Affordable housing:<\/span><\/strong><\/li>\n<\/ul>\n<ol>\n<li style=\"list-style-type: none;\">\n<ol>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Extra deduction up to Rs. 1.5 lakhs for interest given on loans exercised for an affordable house increased till 31st March 2021.<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Date of approval of affordable housing projects for availing tax holiday on benefits earned by developers increased till 31st March 2021.<\/span><\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<div>\n<h3><span class=\"ez-toc-section\" id=\"Tax_Facilitation_Patterns\"><\/span><strong><span data-preserver-spaces=\"true\">Tax Facilitation Patterns<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"Instant_PAN\"><\/span><strong>I<\/strong><strong>nstant PAN<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p>To further facilitate the process of allotment of PAN, a system will be launched under which PAN will be immediately allotted online based on Aadhaar, without any provision for filling up of detailed application form.<\/p>\n<ul>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"%E2%80%98Vivad_Se_Vishwas_scheme\"><\/span><strong>\u2018<em>Vivad Se Vishwas<\/em><\/strong><span data-preserver-spaces=\"true\"><strong>\u2019 scheme<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p><span data-preserver-spaces=\"true\"> with a deadline of 30th June 2020, to decrease litigations indirect taxes:<\/span><\/p>\n<ol>\n<li style=\"list-style-type: none;\">\n<ol>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Waiver of interest and penalty &#8211; only disputed taxes to be paid for payments till 31st March 2020.<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Extra amount to be paid if availed after 31st March 2020.<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Advantages to taxpayers in whose cases appeals are pending at any level.<\/span><\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<ul>\n<li><span data-preserver-spaces=\"true\"><strong>Faceless claims<\/strong> to be approved by revising the Income Tax Act.<\/span><\/li>\n<li><strong>For charity institutions:<\/strong><\/li>\n<\/ul>\n<ol>\n<li style=\"list-style-type: none;\">\n<ol>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Pre-filling in return by the data of donations furnished\u00a0<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Process of registration to be made fully electronic.<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Unique registration number (URN) to be assigned to all new and existing charity institutions.<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">Provisional registration to be allotted for new charity institutions for 3 years.\u00a0<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">CBDT to choose a Taxpayers\u2019 Charter.<\/span><\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<ul>\n<li><span data-preserver-spaces=\"true\"><strong>Losses of merged banks<\/strong>: Measures submitted to the Income-tax Act to assure that entities profit from unabsorbed losses and depreciation of the amalgamating entities.<\/span><\/li>\n<\/ul>\n<\/div>\n<h3><span class=\"ez-toc-section\" id=\"Indirect_Tax\"><\/span><strong><span data-preserver-spaces=\"true\">Indirect Tax<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"GST\"><\/span><strong><span data-preserver-spaces=\"true\">GST:<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<ol>\n<li><span data-preserver-spaces=\"true\">Reduced simple processing of<a href=\"https:\/\/www.legalraasta.com\/gst-return\/\" target=\"_blank\" rel=\"noopener noreferrer\"> GST return<\/a> will be implemented from the 1st of April 2020.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">\u00a0It will make return filing easy with traits like SMS based filing for nil return, return pre-filling, improved input tax credit flow, and overall simplification.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">\u00a0Dynamic QR-code is designed for consumer invoices. GST parameters will be apprehended when payment for purchasing is done by the QR-code.<\/span><\/li>\n<\/ol>\n<ul>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"Customs_Duties\"><\/span><strong><span data-preserver-spaces=\"true\">Customs Duties:<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<ol>\n<li><span data-preserver-spaces=\"true\">Customs duty proposed on footwear to 35% from 25% &amp; on furniture goods to 25% from 20%.\u00a0<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Basic customs duty on imports of newsprint and light-weight coated paper decreased from 10% to 5%.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Customs duty rates updated on electric vehicles and components of mobiles.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">5% health cess to be taxed on the imports of medical devices, except those exempt from BCD.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Lower customs duty on some inputs and raw materials like a fuse, chemicals, and plastics.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Higher customs duty on some goods like auto-parts, chemicals, etc. which are also being produced domestically.\u00a0<\/span><\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"Marvelous_Achievements_of_Indian_Economy\"><\/span><strong><span data-preserver-spaces=\"true\">Marvelous Achievements of Indian Economy<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><span data-preserver-spaces=\"true\">India now the 5th largest economy in the world.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">7.4% average growth measured during 2014-19 with inflation averaging around 4.5%.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">271 million people lifted out of poverty during the 2006-16.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">India\u2019s Foreign Direct Investment boosted to US$ 284 billion while 2014-19 from US$ 190 billion in 2009-14.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Central Government debt decreased to 48.7% of GDP (March 2019) from 52.2% (March 2014).<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Two cross-cutting developments:<\/span><\/li>\n<\/ul>\n<ol>\n<li style=\"list-style-type: none;\">\n<ol>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">The increase in technologies (Analytics, Machine Learning, robotics, Bio-informatics, and Artificial Intelligence).<\/span><\/li>\n<li class=\"ql-indent-1\"><span data-preserver-spaces=\"true\">The highest ever amount of people in the productive age group (15-65 years) in India.<\/span><\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<ul>\n<li><span data-preserver-spaces=\"true\"><a href=\"https:\/\/www.finbucket.com\/gst\/gst-means\/\" target=\"_blank\" rel=\"noopener noreferrer\">GST<\/a> eliminated many bottlenecks in the system.<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Future_Aim_for_supporting_Indias_unique_global_leadership_driven_by_Digital_Revolution\"><\/span><strong><span data-preserver-spaces=\"true\">Future Aim for supporting India\u2019s unique global leadership, driven by Digital Revolution<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><span data-preserver-spaces=\"true\">Seamless delivery of services by Digital Governance.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Change in physical quality of life by the National Infrastructure Pipeline.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Risk mitigation by Disaster Resilience.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Social security by Pension and Insurance penetration.<\/span><\/li>\n<\/ul>\n<p><span data-preserver-spaces=\"true\">\u00a0If you are looking for legal services platform than allow <a href=\"https:\/\/www.legalraasta.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">LegalRaasta<\/a> to simplify your work. We offer all services like <a href=\"https:\/\/www.legalraasta.com\/gst-registration\/\" target=\"_blank\" rel=\"noopener noreferrer\">GST Registration<\/a>, ITR Filling, <a href=\"https:\/\/www.legalraasta.com\/private-limited-company-registration\/\" target=\"_blank\" rel=\"noopener noreferrer\">Company Registration<\/a> and many more. You can contact our experts on <strong>8750008585 <\/strong>or mail us at \u00a0<a href=\"mailto:contact@legalraasta.com\" target=\"_blank\" rel=\"noopener noreferrer\">contact@legalraasta.com<\/a>. Even we have <a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.legalraasta.www.legalraasta_gst\" target=\"_blank\" rel=\"noopener noreferrer\">\u00a0LegalRaasta APP<\/a> download it today.<\/span><\/p>\n<blockquote><p>Related articles<\/p>\n<p><a href=\"https:\/\/www.legalraasta.com\/blog\/itr-slab-2020-2021\/\" target=\"_blank\" rel=\"noopener noreferrer\">Latest Update on income tax slab rate 2020<\/a><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Introducing the first union budget 2020 of the 3rd decade of the 21st century, Finance Minister Smt. Nirmala Sitharaman revealed a series of far-reaching reforms, pointed at fortifying the Indian economy by a succession of short-term, medium-term, and long-term projects. This year the union budget is themed as &#8221; Ease of Living &#8220;. The Finance Minister [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":21620,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3606],"tags":[3704,3681,3691,3700,3692,3701,3686,3685,3693,3695,3697,3694,62,3688,3689,3687,3696,3682,471,3698,3702,3690,3699,3703,3680,3677,3679,3678,3684,3683],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Union budget 2020 - 2021 : Keyhighlights | LegalRaasta |<\/title>\n<meta name=\"description\" content=\"Union budget 2020 themed \u201cEase of Living&quot; and comprises of various changes in GST, ITR slab rate &amp; even elimination of Dividend Direct Tax.\" \/>\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.legalraasta.com\/blog\/union-budget-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Union budget 2020 - 2021 : Keyhighlights | LegalRaasta |\" \/>\n<meta property=\"og:description\" content=\"Union budget 2020 themed \u201cEase of Living&quot; and comprises of various changes in GST, ITR slab rate &amp; even elimination of Dividend Direct Tax.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/\" \/>\n<meta property=\"og:site_name\" content=\"LegalRaasta Knowledge portal\" \/>\n<meta property=\"article:published_time\" content=\"2020-02-06T09:30:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-02-06T09:31:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2020\/02\/union-budget-2020.png\" \/>\n\t<meta property=\"og:image:width\" content=\"560\" \/>\n\t<meta property=\"og:image:height\" content=\"315\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Parmeet Chhabra\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Parmeet Chhabra\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"20 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/\",\"url\":\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/\",\"name\":\"Union budget 2020 - 2021 : Keyhighlights | LegalRaasta |\",\"isPartOf\":{\"@id\":\"https:\/\/www.legalraasta.com\/blog\/#website\"},\"datePublished\":\"2020-02-06T09:30:01+00:00\",\"dateModified\":\"2020-02-06T09:31:01+00:00\",\"author\":{\"@id\":\"https:\/\/www.legalraasta.com\/blog\/#\/schema\/person\/4095c1c7218b91420d8ad871bccf63d6\"},\"description\":\"Union budget 2020 themed \u201cEase of Living\\\" and comprises of various changes in GST, ITR slab rate & even elimination of Dividend Direct Tax.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.legalraasta.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"News\",\"item\":\"https:\/\/www.legalraasta.com\/blog\/category\/news\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Key Highlights of Union Budget 2020-21\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.legalraasta.com\/blog\/#website\",\"url\":\"https:\/\/www.legalraasta.com\/blog\/\",\"name\":\"LegalRaasta Knowledge portal\",\"description\":\"Information on company registration, FSSAI, IEC, MSME, trademark, ISO and registrations\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.legalraasta.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.legalraasta.com\/blog\/#\/schema\/person\/4095c1c7218b91420d8ad871bccf63d6\",\"name\":\"Parmeet Chhabra\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.legalraasta.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2024\/05\/parmeet_chhabra-150x150.jpeg\",\"contentUrl\":\"https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2024\/05\/parmeet_chhabra-150x150.jpeg\",\"caption\":\"Parmeet Chhabra\"},\"description\":\"Parmeet Chhabra, a skilled content writer and editor at LegalRaasta since 2020, with a writing journey of over 5 years, specializes in crafting informative web pages and blogs over diverse domains like education, legal laws, government licences, web development, etc.\",\"sameAs\":[\"https:\/\/www.legalraasta.com\/\"],\"url\":\"https:\/\/www.legalraasta.com\/blog\/author\/bloglr\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Union budget 2020 - 2021 : Keyhighlights | LegalRaasta |","description":"Union budget 2020 themed \u201cEase of Living\" and comprises of various changes in GST, ITR slab rate & even elimination of Dividend Direct Tax.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/","og_locale":"en_US","og_type":"article","og_title":"Union budget 2020 - 2021 : Keyhighlights | LegalRaasta |","og_description":"Union budget 2020 themed \u201cEase of Living\" and comprises of various changes in GST, ITR slab rate & even elimination of Dividend Direct Tax.","og_url":"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/","og_site_name":"LegalRaasta Knowledge portal","article_published_time":"2020-02-06T09:30:01+00:00","article_modified_time":"2020-02-06T09:31:01+00:00","og_image":[{"width":560,"height":315,"url":"https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2020\/02\/union-budget-2020.png","type":"image\/png"}],"author":"Parmeet Chhabra","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Parmeet Chhabra","Est. reading time":"20 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/","url":"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/","name":"Union budget 2020 - 2021 : Keyhighlights | LegalRaasta |","isPartOf":{"@id":"https:\/\/www.legalraasta.com\/blog\/#website"},"datePublished":"2020-02-06T09:30:01+00:00","dateModified":"2020-02-06T09:31:01+00:00","author":{"@id":"https:\/\/www.legalraasta.com\/blog\/#\/schema\/person\/4095c1c7218b91420d8ad871bccf63d6"},"description":"Union budget 2020 themed \u201cEase of Living\" and comprises of various changes in GST, ITR slab rate & even elimination of Dividend Direct Tax.","breadcrumb":{"@id":"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.legalraasta.com\/blog\/union-budget-2020\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.legalraasta.com\/blog\/"},{"@type":"ListItem","position":2,"name":"News","item":"https:\/\/www.legalraasta.com\/blog\/category\/news\/"},{"@type":"ListItem","position":3,"name":"Key Highlights of Union Budget 2020-21"}]},{"@type":"WebSite","@id":"https:\/\/www.legalraasta.com\/blog\/#website","url":"https:\/\/www.legalraasta.com\/blog\/","name":"LegalRaasta Knowledge portal","description":"Information on company registration, FSSAI, IEC, MSME, trademark, ISO and registrations","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.legalraasta.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.legalraasta.com\/blog\/#\/schema\/person\/4095c1c7218b91420d8ad871bccf63d6","name":"Parmeet Chhabra","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.legalraasta.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2024\/05\/parmeet_chhabra-150x150.jpeg","contentUrl":"https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2024\/05\/parmeet_chhabra-150x150.jpeg","caption":"Parmeet Chhabra"},"description":"Parmeet Chhabra, a skilled content writer and editor at LegalRaasta since 2020, with a writing journey of over 5 years, specializes in crafting informative web pages and blogs over diverse domains like education, legal laws, government licences, web development, etc.","sameAs":["https:\/\/www.legalraasta.com\/"],"url":"https:\/\/www.legalraasta.com\/blog\/author\/bloglr\/"}]}},"_links":{"self":[{"href":"https:\/\/www.legalraasta.com\/blog\/wp-json\/wp\/v2\/posts\/21618"}],"collection":[{"href":"https:\/\/www.legalraasta.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.legalraasta.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.legalraasta.com\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.legalraasta.com\/blog\/wp-json\/wp\/v2\/comments?post=21618"}],"version-history":[{"count":2,"href":"https:\/\/www.legalraasta.com\/blog\/wp-json\/wp\/v2\/posts\/21618\/revisions"}],"predecessor-version":[{"id":21621,"href":"https:\/\/www.legalraasta.com\/blog\/wp-json\/wp\/v2\/posts\/21618\/revisions\/21621"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.legalraasta.com\/blog\/wp-json\/wp\/v2\/media\/21620"}],"wp:attachment":[{"href":"https:\/\/www.legalraasta.com\/blog\/wp-json\/wp\/v2\/media?parent=21618"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.legalraasta.com\/blog\/wp-json\/wp\/v2\/categories?post=21618"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.legalraasta.com\/blog\/wp-json\/wp\/v2\/tags?post=21618"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}