In a pre-Budget meeting, the Union Cabinet has approved the country’s Union Budget for the financial year 2020-21. Shortly after, Finance Minister Nirmala Sitharaman began presenting the Budget in Lok Sabha.
Here are the key points in the Budget 2020:
- While presenting the Union Budget 2020-21, Finance Minister Nirmala Sitharaman announced that five new smart cities will be developed in the country.
- Railways to stat Kisan rail with refrigerated coaches for mil, meat and fish.
- The government has allocated ₹12,300 crore for the Swachh Bharat mission for 2020-21
- She announced that around 60 lakh new taxpayers have been added to the system in the last two years under the Goods and Services Tax (GST) regime.
- Nirmala also announced that the government is planning the electrification of 27,000 kilometres of railways tracks. Earlier, Railways Minister Piyush Goyal said the Indian Railways network would be 100% electrified by 2024.
- Over six lakh Anganwadi workers are equipped with smartphones.
- Sitharaman also said that after the rollout of Goods and Services Tax, the average household now saves 4% in monthly expenses.
- Five historic sites will be developed as iconic archaeological destinations by the government. They are Rakhigarhi (Haryana), Hastinapur (UP), Dholavira (Gujarat), Shivsagar (Assam) and Aadichanallur (Tamil Nadu). Further, a maritime museum will be set up in Gujarat’s Lothal and a tribal museum in Jharkhand’s Ranchi. She also proposed to establish Indian Institute of Heritage and Conservation.
- Finance Minister Nirmala Sitharaman announced that India will host G-20 Summit in 2022. For which 100 crores to be allocated for reparation.
- Raising of marriageable age to women. “Women’s age of marriage was increased from 15 to 18 in 1978,” she stated
- Fibre to the Home (FTTH) connections through Bharatnet will link one lakh gram panchayats this year, Finance Minister Nirmala Sitharaman said. “
- Finance Minister Nirmala Sitharaman took up the issue of climate change and announced that ₹4,400 crore will be allocated to states to work towards clean air initiatives.
- In the Railway Budget speech, Finance Minister Nirmala Sitharaman said that the country’s first bullet train project between Ahmedabad and Mumbai is actively being pursued for completion on time.
- Finance Minister Nirmala Sitharaman has proposed a budget of ₹85,000 crore for the financial year 2020-21 for the welfare of Scheduled Castes (SCs) and Other Backward Classes (OBCs). Another ₹53,700 crore has been allocated for the welfare of Scheduled Tribes (STs). The government has also allocated ₹9,000 crore for senior citizens’ welfare and ₹28,600 crore for women-linked programmes.
- Nirmala Sitharaman announced that government proposes to start a programme where urban local bodies across the country will give one-year internship to young engineers.
