Union Budget 2020 live updates: Union Finance Minister Nirmala Sitharaman is all set to present Union Budget 2020-21 today. This will be the Narendra Modi 2.0 government’s second budget after retaining power at the Centre with a thumping majority last year. This comes when the country is witnessing a worst economic slowdown with the Opposition leaving no stone unturned to criticize the BJP-led NDA government. Sitharaman, who is India’s second woman finance minister after Indira Gandhi, is expected to announce measures to tackle the slowdown. The government is also likely to put forward a roadmap for making India a $5 trillion economy by 2025, a poll promise of the Modi government.
Here are the Union Budget 2020-21 highlights:
Youth want jobs but they got longest budget speech, says Rahul Gandhi, watch video
Reacting to the Modi government Budget 2020, Rahul Gandhi the country's youth want jobs but they got the longest budget speech. want jobs. She said Prime Minister Narendra Modi and Foreign Minister Nirmala Sitharaman have no clue what to do next.
Our youth want jobs. Instead they got the longest budget speech in parliamentary history that said absolutely nothing of consequence.— Rahul Gandhi (@RahulGandhi) February 1, 2020
PM & FM both looked like they have absolutely no clue what to do next.
Nirmala Sitharaman's budget speech focused on praising Modi rather than helping common people: Ahmed Patel
Congress leader Ahmed Patel has slammed Nirmala Sitharaman, saying her budget speech was more focused on praising Prime Minister Narendra Modi rather than helping the common people. The Rajya Sabha member said the Modi 2.0 government seems to have realized its disastrous impact on the economy after, what he said, harassing tax payers for the last six years.
At a time when India is in the midst of an economic down turn, the budget speech focuses more on praising the PM rather than helping the common citizen.— Ahmed Patel (@ahmedpatel) February 1, 2020
BJP treated Delhi half-heartedly, why should Delhiites vote for the saffron party: Arvind Kejriwal
Delhi Chief Minister Arvind Kejriwal said Delhiites had high expectations from the budget 2020 but were let down by the Narendra Modi government. He asked why should people of the national capital vote for the BJP as Delhi does not come in the saffron party's priority.
दिल्ली को बजट से बहुत उम्मीदें थी। लेकिन एक बार फिर दिल्ली वालों के साथ सौतेला व्यवहार हुआ। दिल्ली भाजपा के प्राथमिकताओ में आता ही नहीं, तो दिल्ली वाले भाजपा को वोट क्यों दे? सवाल ये भी है की चुनाव से पहले ही जब भाजपा दिल्ली को निराश कर रही है तो चुनाव के बाद अपने वादे निभाएगी?— Arvind Kejriwal (@ArvindKejriwal) February 1, 2020
Rahul Gandhi calls budget speech hollow
Rahul Gandi has called Nirmala Sitharaman's budget speech as hollow. He said the finance minister's speech might be the longest one but it had nothing. He also asserted he saw only tactical stuff in the budget presented by the country's second woman finance minister.
Yogi Adityanath calls Budget 2020 as development-oriented and pro-farmer
Chief Minister Yogi Adityanath has congratulated the Narendra Modi government for presenting what he called as development-oriented and pro-farmer budget. The chief minister said the budget presented by Union Finance Minister Nirmala Sitharaman will strengthen the country's economy.
Chief Minister Yogi Adityanath: I congratulate Prime Minister Modi and Finance Minister Nirmala Sitharaman for this development oriented and pro-farmer budget. This Budget will further strengthen the economy. pic.twitter.com/DX5V2U9BzJ— ANI UP (@ANINewsUP) February 1, 2020
Budget has no central idea: Rahul Gandhi
Rahul Gandhi said the Budget 2020 has no central idea and he saw only tactical stuff in the speech of Finance Minister Nirmala Sitharaman. He added there was not any strategic idea that would help to create employment opportunities for the youth.
Rahul Gandhi on Budget: The main issue facing is unemployment. I didn't see any strategic idea that would help our youth get jobs. I saw tactical stuff but no central idea. It describes govt well, lot of repetition,rambling-it is mindset of govt, all talk, but nothing happening. pic.twitter.com/IJv5LdYJsW— ANI (@ANI) February 1, 2020
GST a historic tax reform: Nirmala Sitharaman
In her budget speech, Nirmala Sitharaman termed the Goods and Services Tax a historic tax reform. After GST came into effect in July 2017, the Opposition has continuously been criticizing the Narendra Modi government for the tax.
Income of charitable institutions exempted from tax: Nirmala Sitharaman
While announcing tax reliefs during her budget speech, Finance Minister Nirmala Sitharaman said the income of charitable institutions will be fully exempted from taxation. She also said the concessional corporate tax cut will be extended to companies that are engaged in power generation.
Finance Minister Nirmala Sitharaman: Income of charitable institutions fully exempt from taxation; Donation to such institutions allowed as deduction in computing taxable income of donor.— ANI (@ANI) February 1, 2020
Govt removes 70 of more than 100 tax deductions and exemptions
In order to simplify the tax system and lower tax rates, Nirmala Sitharaman said as many as 70 of more than 100 income tax deductions and exemptions have been removed. She said the companies will no longer need to pay Dividend Distribution Tax.
FM Nirmala Sitharaman: In order to promote affordable housing projects, I propose to extend date of approval of affordable housing projects for availing tax holiday by one more year. pic.twitter.com/J9YGGl5qtr— ANI (@ANI) February 1, 2020
New tax regime system
People who have been earning Rs 5 lakhs to Rs 7.5 lakhs will be charged 10 % tax. Income between Rs 7.5 to 10 lakhs will be charged 15% tax, Rs 10-12.5 lakh income will come under 20% tax slab, Rs 12.5-15 lakh income will be charged 25% tax, while people earning more than Rs 15 lakh would continue to pay 30% tax.
No tax on income upto 5 lakhs
Finance Minister Nirmala Sitharaman has announced that people who earn up to Rs 5 lakh don't have to pay anything as tax.
Shares of LIC to be sold
Government to sell shares of Life Insurance Corporation of India (LIC), announces Finance Minister Nirmala Sitharaman after which Opposition leaders sitting in the Parliament started hooting 'shame'
Govt proposes to end manual scavenging
Finance Minister Nirmala Sitharaman has proposed to end manual scavenging in the country. Many people die every year due to practice. The country had banned the manual scavenger employment in 1993.
Opposition protests after finance minister declares Beti Bachao, Beti Padhao scheme a success
Beti Bachao, Beti Padhao was a successful scheme that brought favorable results, declared Nirmala Sitharaman today in her budget speech. It did not go well with the Opposition members. They protested and interrupted finance minister's speech.
Govt announces Rs 22,000 crore for power sector
The BJP-led NDA government has announced Rs 22,000 crore for the power sector. Pre Paid smart meters will be also introduced by 2023, said Nirmala Sitharaman during her budget speech.
Nirmala Sitharaman made these announcements for Indian Railways
Finance Minister Nirmala Sithraman made some big announcements for Indian Railways:
1. Setting up a large solar power capacity
2. Electrification of 27000km railway track
3. 4 stations to be rebuild
4. More Tejas like trains to be introduced
Govt to release national logistics policy soon: Nirmala Sitharaman
The Modi 2.0 government will release the national logistics policy very soon, informed Nirmala Sitharaman during her budget speech. She also announced the launch of Rs 103 lakh crore National Infra Pipeline plan.
Medical colleges to be built at district level, says Nirmala Sitharaman
For strengthening the healthcare sector and produce more doctors, medical colleges will be built at districts level across the country, said Nirmala Sitharaman while delivering her budget speech.
Govt to introduce FDI in education sector, new degree level, full-time programs, says Nirmala Sithraman
In her budget speech, Nirmala Sithraman said FDI in the education sector, new degree level, full-time programs will be introduced. Natural science forensic university proposed under the Study in India program, she added
Nirmala Sitharaman announces TB Harega, Desh Jeetega campaign
Nirmala Sitharaman has announced Rs 69,000 crore for health, Rs 12,300 crore for sanitation under Sawachch Bharat. She also announced TB Harega, Desh Jeetega campaign to end the Tuberculosis in India by 2025
Modi govt to expand Mission Indradhanush, says Nirmala Sitharaman.
The Modi government will expand Mission Indradhanush, health mission launched in 2014, said Finance Minister Nirmala Sitharaman. She also said more hospitals across the country will be set up. Meanwhile, the second finance minister of the country after Indira Gandhi is delivering her budget speech.
NABARD scheme will be expanded: Nirmala Sitharaman
Nirmala Sitharaman said the NABARD scheme will be expanded. She also said the Narendra Modi government will focus on doubling milk processing and boosting fish farming in the country.
Finance Minister announces 16 action points for farmers
Finance Minister has announced 16 action points for farmers. Some of them are under:
1. Asks states to implement Centre's schemes
2. Help 100 water-stressed areas
3. Solar pumps for 20 farmers
4. Balanced use of fertilizers
5. Village storage scheme by SHG
6. Kisan Rail announced
7. Krishi Udan Yojna
Modi govt to double farmers' income by 2022: Nirmala Sitharaman
Finance Minister Nirmala Sitharaman asserted that the Narendra Modi 2.0 government will double the farmers' income by 2022. She also said financial inclusion has helped raise farm income.
Nirmala Sitharaman praises Modi governmnet
India has become the 5th largest economy of the world, clocked growth of 7.74%, FDI is at $284 billion now, said Finance Minister Nirmala Sitharaman in her budget speech while showering praises on the Narendra Modi government.
Deduction in GST helped the common man: Nirmala Sitharaman
Our people should be gainfully employed, our businesses should be healthy. Deduction in GST helped the common man. 16 lakh new taxpayers have been added: Nirmala Sitharaman in her Union Budget 2020 speech:
Nirmala Sitharaman pays tribute to Arun Jaitley
Finance Minister Nirmala Sitharaman started her budget speech while paying tribute to former FM Arun Jaitley. The former senior BJP leader died on August 24, 2029.
Nirmala Sitharaman presents Budget 2020.
Union Finance Minister Nirmala Sitharaman said Prime Minister Narendra Modi got a massive mandate in the 2019 Lok Sabha elections. She made these remarks while presenting her second budget of the Modi government
Chance for Narendra Modi govt to heal pain of common man: Rajasthan CM Ashok Gehlot
Budget 2020: Minutes ahead of Nirmala Sitharaman's budget speech, Rajasthan CM Ashok Gehlot said it is a chance for the Narendra Modi government to heal the pain of common man and small scale businessman, who have been facing hardships since demonetization. He hoped the Budget 2020 will fulfills people's expectations.
Nirmala Sitharaman's budget speech to begin shortly
After 20 minutes, Finance Minister Nirmala Sitharaman will present the government's financial road map and policies for the financial years 2020-2021. Stay tuned for all the LIVE WRITTEN UPDATES.
Union Cabinet approves Budget 2020
Union Cabinet has approved the Budget 2020 which Finance Minister Nirmala Sitharaman will present today. She will be presenting the Narendra Modi government's second budget after retaining power at the Centre in the Lok Sabha elections 2019.
Delhiites have hopes from Budget 2020: Arvind kejriwal
Ahead of the budget speech, Delhi CM Arvind Kejriwal said people of the national capital have hopes from the Union Budget 2020 and it will be interesting to see what Centre has for Delhiites. Delhi should get more in view of elections, he said.
दिल्ली के लोगों को पूरी उम्मीद है कि केंद्र सरकार बजट में दिल्ली के हितों की रक्षा करेगी। चुनाव के मद्देनजर दिल्ली को और भी ज़्यादा मिलना चाहिए। बजट बताएगा कि भाजपा को हम दिल्लीवालों की कितनी परवाह है।— Arvind Kejriwal (@ArvindKejriwal) February 1, 2020
Cabinet meeting begins at Parliament House
The Cabinet meeting is currently underway at the Parliament House. Prime Minister Narendra Modi, Home Minister Amit Shah and Finance Minister Nirmala Sitharaman, besides others are taking part in the meeting.
Nirmala Sitharaman's family arrives at Parliament
Ahead of the presentation of the Narendra Modi government's Budget 2020, Finance Minister Nirmala Sitharaman's family has arrived at the Parliament including her daughter Parakala Vangmayi.
PM Modi arrives at Parliamnet
Prime Minister Narendra Modi has arrived at the Parliament ahead of his government's presentation of the Budget 2020. Nirmala Sitharaman will present the budget, her second after becoming the country second woman finance minister.
Budget copies arrive at Parliamnet
Union Finance Minister Nirmala Sitharam has arrived at the Parliament with budget copies. She will present the Budget 2020-21 in Lok Sabha at 11 AM today. The Narendra Modi government is expected to announce measures to tackle the economic slowdown.