What became cheap, what became expensive and where will the money come from, where will it go. How much did Tex get and how many new trains as well as who got what. Finance Minister Nirmala Sitharaman has announced the budget for the upcoming fiscal starting April 1, 2020. Though budget brought joy to some sections, it has not really lived up to the expectations of the common man or market investors.
Sensex Slumps 988 Points As Budget Fails
The Sensex plunged as much as 1,092 points to fall below 40,000 and Nifty 50 index slumped 328 points to hit an intraday low of 11,633.30. With today's fall, Sensex and Nifty touched lowest level in over three months.
Dr Manmohan Singh On Finance Minister Nirmala Sitharaman's 160-Minute Budget
Former Prime Minister Manmohan Singh on Saturday remarked that Budget 2020 was "too long" for him to absorb it, after Finance Minister Nirmala Sitharaman went on for a record 160 minutes, or two hours and 40 minutes, before stopping without finishing her speech.
Lokpal Gets Rs 74 Crore Budget
Anti-corruption ombudsman Lokpal has got Rs 74 crore Budget allocation, whereas a nominal increase has been earmarked for the probity watchdog Central Vigilance Commission (CVC) for 2020-21.
Government Allocation For Sports Budget
The government on Saturday allocated Rs 2826.92 crore to the sports budget for the next financial year, which is up by a mere Rs 50 crore from the revised estimates of 2019-20.
100 More Airports
Finance Minister Nirmala Sitharaman on Saturday said 100 more airports will be developed by 2025 to support the UDAN scheme.
150 More Train
She also said 150 trains will run under the public private partnership (PPP) mode, also four stations will be redeveloped with the help of the private sector.
Government Sets Agriculture Credit Target At Rs 15 Lakh Crore
The government has pegged the agricultural credit target at Rs 15 lakh crore for fiscal 2020-21, Finance Minister Nirmala Sitharaman said on Saturday.
Rs 100 Crore For India Hosting G20
Finance Minister Nirmala Sitharaman during the Budget presentation in Lok Sabha on Saturday said India will host the G20 Presidency in 2022 and the government has allocated Rs 100 crore for making preparations for this historic occasion, where it will drive global economic agenda.
Policy For Data Centre Parks On Anvil
The government has provided Rs 6,000 crore for BharatNet in FY21, she said, adding that a fibre-to-home through BharatNet will link one lakh gram panchayats this year.
Defence Budget is Rs 3.37 Lakh Crore
In a marginal hike, the defence budget was increased to Rs 3.37 lakh crore for 2020-21 against last year's Rs 3.18 lakh crore, belying expectations of a significantly enhanced allocation to fast-track long-pending military modernisation.
64 Paise Come From Taxes
For every rupee in the government coffer, 64 paise will come from direct and indirect taxes. Expenditure on central sector schemes will be 13 paise, while the allocation for centrally-sponsored schemes will be 9 paise.
Rs 12,300 Crore Allocated For Swachh Bharat Mission
Union Finance Minister Nirmala Sitharaman on Saturday announced that the government has allocated Rs 12,300 crores for Swachh Bharat Mission while presenting the Union Budget for the year 2020-21, according to an official press release.
Insurance Cover For Bank Depositors To Be Raised To Rs 5 Lakh
Finance Minister Nirmala Sitharaman proposed to increase the insurance cover for bank depositors to Rs 5 lakh from the existing Rs 1 lakh. Deposit insurance is a protection cover against losses on bank deposits if a bank fails financially and has no money to pay its depositors.
Rs 61,500 Crore Allocated To MGNREGA
Allocations in the Union Budget for various flagship schemes under the Department of Rural Development was marginally reduced to Rs 1.20 lakh crore for the year 2020-21 from Rs 1.22 lakh crore in 2019-20
Delhi Police Allotted Rs 8,619 Crore
Of the total amount allotted, Rs 8019.83 has been earmarked for the revenue section, which comprises the Administrative Section, the Road Safety Cell and the Development and Communication Network.
Rs 4,400 Crore Allocated To Encourage State Plans For Clean Air
Expressing concern over air pollution in large cities, Union Finance Minister Nirmala Sitharaman on Saturday announced an allocation of Rs 4,400 crore to encourage states formulating plans to ensure clean air in cities which have a population of above one million.
Rs 17,300 Crore Allocated To Foreign Ministry
Over Rs 17,300 crore has been allocated for the Ministry of External Affairs in the Budget, with Rs 100 crore earmarked for the strategic Chabahar Port project in southeastern Iran that gives India connectivity to Afghanistan bypassing Pakistan.
Cuts Allocation For PM-Kisan Scheme By 27.5%
The government has proposed a lower allocation of Rs 54,370.15 crore for PM-Kisan scheme this fiscal, a cut of 27.5 per cent when compared to the budget projection of Rs 75,000 crore, according to the Budget document.
Rs 69,000 Crore Allocated For Health Sector
Union Finance Minister Nirmala Sitharaman on Saturday announced an outlay of about Rs 69,000 crore for the health sector in the 2020-2021 fiscal, with Rs 6,400 crore earmarked for the Centre's flagship health insurance scheme Prime Minister Jan Arogya Yojana (PMJAY).
LIC To Sell
Employees' union of Life Insurance Corporation (LIC) has strongly opposed the government's plan to sell a part of its holding in the country's largest financial institution through a public issue.
Government Departments To Create Over 2.6 Lakh Jobs
Amid a chorus of criticism by opposition parties over lack of employment generation, the Union Budget presented on Saturday estimated that more than 2.62 lakh jobs are likely to be created between March 2019 and March 2021 in various organisations.