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Finance Minister Piyush Goyal begins Budget speech; Opposition creates ruckus in Parliament.Union Budget 2020: Stakes are high, and the Interim Budget 2020 could play a key role in setting the tone in the BJP’s favour before the Lok Sabha Elections in April-May.Union Budget 2020 Live: Prime Minister Narendra Modi-led government’s last Union Budget will be presented by Finance Minister Piyush Goyal at the Parliament today.
A strong agri distress coupled with a huge unemployment in the country could force the government to announce voter-appeasing populist measures. However, to do that, Finance Minister Piyush Goyal will have to risk the fiscal target.Speculations are rife that there will be good news for the middle class in terms of income tax exemption and income tax deduction under 80C.
Union Budget 2020-21
For the start-ups and the corporate industry, the government could slash angel tax and corporate tax. FM Piyush Goyal is also expected to announce bonanzas for the farmers that have come to the centre stage after Congress doled out farm loan waivers in three states recently. As anticipated, the PM-led BJP could provide cash benefits to farmers, and the good news might be announced on the Budget day.
Union Finance and Railway Minister Piyush Goyal has been entrusted with the crucial responsibility of presenting the Budget speech 2019 in the absence of Arun Jaitley. Traditionally, the governments refrain from presenting a full budget and instead table an interim Budget or vote-on-account.
The debate has been going on over the exact nature of the Budget 2020 but Arun Jaitley has said that what goes into this year’s budget will depend on the larger interests of the economy.
union budget 2020 highlights key features
We are striving for India which is clean and healthy, where everyone will have clean houses, farmers income will double.
OROP (one rank, one pension) scheme was pending for 40 years, but it was our government that implemented it
We have increased tax-free gratuity from Rs 10 lakh to Rs 20 lakh
The initiative will benefit crores of small and marginal farmers, at an estimated cost of Rs. 75,000 crore. It will enable farmers to earn a respectable living
CAD to come down from 5.6% to 2.5% this year. Fiscal deficit is to be 3.4% this year as per revised estimates. Our families would be spending 35-40% more today on basic necessities such as food travel consumer durables housing. Our families would be spending 35-40% more today on basic necessities such as food travel consumer durables housing:
Union Budget 2019 live news and updates: MGNREGA allocation has been increased to Rs 60,000 crore. More money will be allocated to MGNREGA if need be. We have worked in the last five years with the target to improve the quality of live. Construction of Rural Roads have been tripled. Pradhan Mantri Gram Sadak Yojana Rs. 19,000 crore in FY 2019-20
Piyush Goyal says that poor people have the first right on country’s resources. Praises the 10% qouta announced by the Modi government for economically weaker sections from the general category without disturbing SC/ST reservation