PDF: 100 One Liners of Union Budget 2020केंद्रीय बजट 2020 के 100 वन लाइनर

The Union Budget 2020-2021 was structured on the overall theme of “ Ease of Living”. Further, three prominent themes of the budget are: ( If you want PDF, then let us know, say Yes in the comment section) 

 

• Aspirational India - better standards of living with access to health, education and better jobs for all sections of the society.
   
• Economic Development for all - “Sabka Saath,Sabka Vikas , Sabka Vishwas”.
   
• Caring Society - Both humane and compassionate.

Aspirational India


Sixteen Action Points for Agriculture, Irrigation and Rural Development
 

• Agriculture credit:
   
• Rs. 15 lakh crore target set for the year 2020-21.
   
• PM-KISAN beneficiaries to be covered under the KCC scheme.
   
• NABARD Re-finance Scheme to be further expanded.
   
• Comprehensive measures for 100 water-stressed districts proposed.
   
• Blue Economy:
   
• Rs. 1 lakh crore fisheries’ exports to be achieved by 2024-25.
   
• 200 lakh tonnes fish production targeted by 2022-23.
   
• 3477 Sagar Mitras and 500 Fish Farmer Producer Organisations to involve youth in fisheries extension.
   
• Kisan Rail to be setup by Indian Railways through PPP to build a seamless national cold supply chain for perishables.
   
• Krishi Udaan to be launched by the Ministry of Civil Aviation.
   
• One-Product One-District for better marketing and export in the Horticulture sector.
   
• Balanced use of all kinds of fertilizers -traditional organic and innovative fertilizers.
   
• Measures for organic, natural, and integrated farming:
   
• Jaivik Kheti Portal –online national organic products market to be strengthened.
   
• Integrated Farming Systems in rain-fed areas to be expanded.
   
• PM – KUSUM to be expanded.
   
• Village storage scheme to provide farmers with holding capacity. To be run by SHGs.
   
• NABARD to map and geo-tag agri-warehouses, cold storages, reefer van facilities,etc
   
• Warehousing in line with Warehouse Development and Regulatory Authority (WDRA) norms
   
• Financing on Negotiable Warehousing Receipts (e-NWR) to be integrated with e-NAM.
   
• State governments who undertake implementation of model laws (issued by the Central government) to be encouraged.
   
• Deen Dayal Antyodaya Yojana – 0.5crore households mobilized with 58 lakh SHGs for poverty alleviation.
   
• In Livestock, doubling of milk production capacity, and increase in artificial insemination sought.
•  

Wellness, Water and Sanitation

• Jan Aushadhi Kendra Scheme to offer2000 medicines and 300 surgical in all districts by 2024.
   

• TB Harega Desh Jeetega campaign launched - a commitment to end Tuberculosis by 2025.
   

• Commitment to ODF-Plus in order to sustain ODF behaviour.
   

• Rs. 69,000crore allocated for the overall Healthcare sector.

Education and Skills
 

• New Education Policy to be announced soon.
   
• National Police University and National Forensic Science University proposed for policing science, forensic science, and cyber-forensics.
   
• Up to 1-year internship to fresh engineers to be provided by Urban Local Bodies.
   
• Ind-SAT proposed for Asian and African countries as a part of the Study in India program.
   
• Rs. 99,300 crore for the education sector and Rs. 3000 crore for skill development in 2020-21 is allotted.

Economic Development for All

Industry, Commerce, and Investment
 

• Investment Clearance Cell proposed to be setup.
   
• National Technical Textiles Mission to be setup to position India as a global leader in technical textile.
   
• New scheme NIRVIK to be launched to achieve higher export credit disbursement.
   
• All Ministries to issue quality standard orders as per PM’s vision of “Zero Defect-Zero Effect” manufacturing.
   
• Rs.27,300 crore allocated for 2020-21 for development and promotion of Industry and Commerce.

Infrastructure
 

• National Infrastructure Pipeline- More than 6500 projects across sectors, to be classified as per their size and stage of development.
   
• A National Logistics Policy to be released soon.
   
• National Skill Development Agency to give special thrust to infrastructure-focused skill development opportunities.
   
• Rs.100 lakh crore to be invested on infrastructure over the next 5 years.

Highways
 

• Accelerated development of highways to be undertaken.
   
• Proposed to monetize at least 12 lots of highway bundles of over 6000 Km before 2024.

Indian Railways
 

• Large solar power capacity to be set up alongside rail tracks, on land owned by railways.
   
• Four station re-development projects and operation of 150 passenger trains through PPP.

Ports & Waterways
 

• Economic activity along river banks to be energized as per Prime Minister’s

Arth Ganga concept.
 

• Corporatizing at least one major port and its listing on stock exchanges to be considered.

Airports
 

• 100 more airports to be developed by 2024 to support Udaan scheme.

Electricity
 

• “Smart” metering to be promoted and measures to reform DISCOMs to be taken.

Power
 

• Expansion of national gas grid from the present 16200 km to 27000 km proposed.
   
• Rs.22, 000 crore proposed for power and renewable energy sector in 2020-21.

New Economy
 

• Policy to enable private sector to build Data Centre parks throughout the country.
   
• Rs.6000 crore proposed for Bharat net programme in 2020-21.
   
• Mapping of India’s genetic landscape-Two new national level Science Schemes to be initiated to create a comprehensive database.
   
• Knowledge Translation Clusters to be set up across different technology sectors including new and emerging areas.
   
• Rs.8000 crore proposed over five years for National Mission on Quantum Technologies and Applications.

CARING SOCIETY

Women & Child, Social Welfare
 

• Proposed to appoint a task force to present its recommendations in six months on issue of age of girl entering motherhood.
   
• Financial support for wider acceptance of technologies, identified by Ministry of Housing and Urban Affairs to ensure no manual cleaning of sewer systems or septic tanks, to be provided.
   
• Enhanced allocation of Rs. 9,500 crore provided for 2020-21 for senior citizens and Divyang.

Culture & Tourism
 

• Indian Institute of Heritage and Conservation under Ministry of Culture proposed; with the status of a deemed University.
   
• 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)
   
• Museum on Numismatics and Trade to be located in the historic Old Mint building in Kolkata.
   
• Support for setting up of a Tribal Museum in Ranchi (Jharkhand).
   
• Maritime museum to be set up at Lothal- the Harrapan age maritime site near Ahmedabad.

Environment & Climate Change

• Proposed to advise the utilities to close the running old thermal power plants with carbon emission above the pre-set norms.
   
• States that are formulating and implementing plans for ensuring cleaner air in cities with population above one million to be encouraged.

GOVERNANCE

• Companies Act to be amended to remove criminal liability for certain acts that are civil in nature.
   
• National Recruitment Agency (NRA) to be set up for conduct of a computer-based online Common Eligibility Test for recruitment to Non-Gazetted posts in governments and public sector banks. A test-centre in every district, particularly in the Aspirational Districts would be set up.
   
• Robust mechanism to be evolved for appointment including direct recruitment to various Tribunals and specialised bodies to attract best talents and professional experts.

• New National Policy on Official Statistics to:
   
• Promote use of latest technologies including AI.
   
• Lay down a road-map towards modernised data collection, integrated information portal and timely dissemination of information.
   
• Development of Union Territories of J&K and Ladakh:
   
• An amount of Rs. 30,757 crore provided for the financial year 2020-21.
   
• The Union Territory of Ladakh has been provided with Rs. 5,958.

Financial Sector
 

• Governance reforms to be carried out to bring in transparency and greater professionalism in PSBs.
   
• Few PSBs to be encouraged to approach the capital market to raise additional capital
   
• Deposit Insurance and Credit Guarantee Corporation (DICGC) permitted to increase Deposit Insurance Coverage to Rs. 5 lakh from Rs.1 lakh per depositor.
   
• Cooperative Banks to be strengthen by amending Banking Regulation Act.
   
• NBFCs eligibility limit for debt recovery reduced from:
   
• Rs. 500 crore to Rs 100 crore asset size.
   
•  Rs 1 crore to Rs 50 lakh loan size.
   
• Government to sell its balance holding in IDBI Bank to private, retail and institutional investors through the stock exchange. 

Financial Market

• FPI limit in corporate bonds increased to 15% from 9% of its outstanding stock.
   
• Debt Based Exchange Traded Fund expanded by a new Debt-ETF consisting primarily of Government Securities.

Infrastructure Financing

• An International Bullion exchange(s) to be set up as an additional option for trade by global market participants with the approval of regulator.

Disinvestment

• Government to sell a part of its holding in LIC by way of Initial Public Offer (IPO).

Fiscal Management

• Overhaul of Centrally Sponsored Schemes and Central Sector Schemes necessary to ensure that scarce public resources are spent optimally.
   
• For year 2020-21:Nominal growth of GDP estimated at 10%.
   
• Fiscal deficit of 3.8% estimated in RE 2019-20 and 3.5% for BE 2020-21.
   
• A good part of the borrowings for the financial year 2020-21 to go towards Capital expenditure that has been scaled up by more than 21%.
   
• Recommendations of XV Finance Commission (FC) accepted in substantial measure.

Direct Tax

• Proposals - To stimulate growth, simplify tax structure, bring ease of compliance, and reduce litigations.

Personal Income Tax- Significant relief to middle class taxpayers.

• Around 70 of the existing exemptions and deductions (more than 100) to be removed in the new simplified regime.

• Corporate Tax- Tax rate of 15% extended to new electricity generation companies.
   
• Dividend Distribution Tax - DDT removed making India a more attractive investment destination.
   
• Start-ups - Start-ups with turnover upto Rs. 100 crore to enjoy100% deduction for 3 consecutive assessment years out of 10 years.
   
• MSMEs - Turnover threshold for audit increased to Rs. 5 crore from Rs. 1 crore for businesses carrying out less than 5% business transactions in cash inorder to boost less cash economy.
   
• Cooperative societies exempted from Alternate Minimum Tax (AMT) just like Companies are exempted from the Minimum Alternate Tax (MAT).
   
• Affordable Housing - Additional deduction up to Rs. 1.5 lakhs for interest paid on loans taken for an affordable house extended till 31st March, 2021.

Tax facilitation measures –
 

• ‘Vivad Se Vishwas’ scheme,with a deadline of30th June, 2020, to reduce litigations in direct taxes.
   
• Instant PAN to be allotted online through Aadhaar.
   
• Faceless appeals to be enabled by amending the Income Tax Act.
   
• Unique registration number (URN) to be issued to all new and existing charity institutions.
   
• CBDT to adopt a Taxpayers’ Charter.

Indirect Tax :
 

• GST rate structure being deliberated to address inverted duty structure.
   
• Dynamic QR-code capturing GST parameters proposed for consumer invoices.
   
• Simplified return with features like SMS based filing for nil return and improved input tax credit flow to be implemented from 1st April, 2020 as a pilot run.

Custom duties :

• Higher customs duty on certain goods like auto-parts, chemicals, etc. which arealso being made domestically.
   
• Lower customs duty on certain inputs and raw materials like fuse, chemicals, and plastics.

Trade policy measure:

• Customs Act being amended to enable proper checks of imports under FTAs.
   
• Excise duty proposed to be raised on Cigarettes and other tobacco products, no change made in the duty rates of bidis.
   
• Anti-dumping duty on PTA abolished to benefit the textile sector.

Future Aim for sustaining India’s unique global leadership, driven by Digital Revolution
 

• Seamless delivery of services through Digital Governance.
   
• Improvement in physical quality of life through National Infrastructure Pipeline.
   
• Risk mitigation through Disaster Resilience.
   
• Social security through Pension and Insurance penetration.