The Union Budget for fiscal year 2020-21 was presented by Finance Minister Nirmala Sitharaman on February 1st, 2020. Key highlights included new income tax slabs with reduced rates for most individuals, increased allocation for agriculture, education, and welfare of SC/ST communities totaling over Rs. 1.3 trillion, and continued focus on infrastructure development with over Rs. 1.7 trillion proposed for the transport sector. The budget aimed to promote an aspirational, economically developed, and caring society in India.

1. UNION BUDGET 2020

2. Finance Minister Nirmala Sitharaman on
1st february presented the Union Budget
for the financial year 2020-21 in the
Parliament. Sitharaman said the three
theme for Budget 2020 is
1)Aspirational India
2) Economic development
3) Caring Society

3. Nirmala Sitharaman’s budget speech
contained important announcements on
1)Income Tax
2) Infrastructure
3) Welfare of SC’s OBCs and STs
4) Education
5) Agriculture

4. Under the new proposed regime, the income tax
slabs as follows:
EXISTING TAX RATES NEW TAX SLABS
UPTO 2.5 LAKH NIL
2.5 LAKH-5LAKHS 5%
5LAKHS-10LAKHS 20%
ABOVE 10 LAKHS 30%
UPTO 5 LAKHS NIL
5LAKHS-7.5 LAKHS 10%
7.5 LAKHS-10 LAKHS 15%
10 LAKHS-12.5 LAKHS 20%
12.5 LAKHS-15 LAKHS 25%
15 LAKHS AND ABOVE 30%

5. RAILWAYS,ROAD AND CIVIL AVIATION
 150 trains to be run in PPP(public private partnership
)model
 100 more airports to be developed under UDAAN( Ude
desh ka Aam Naagrik)
 Two major infrastructure announcements made in budget
speech were:
1. the completion of delhi-mumbai expressway by 2023
2. launch of a chennai-bengaluru expressway
 Nirmala Sitharaman proposed a outlay of Rs. 1.7 lakh
crore for transport infrastructure in 2020-21 and Rs.22,000
crore for the power and renewable power energy sector.
 Rs. 18.600 crores towards Bengaluru Suburdan
Transportation projects
 Indian railways to set up “Kisan Rail” to support cold
supply chain via PPP model
 “Krishi Udaan” to set up by ministry of civil aviation for cold
supply chain

6. WELFARE FOR SC’S ,ST’S AND OBC’S
 Nirmala Sitharaman allocates 85,000 crore for
welfare Rs 53700cr for ST’s
 the union Budget 2020 has allocated a total of
Rs. 1,38,700 cr for the welfare of SC’s ,ST’s and
OBC’s
 The Government also allocated Rs.9500 cr for
the welfare of senior citizens and differently
abled citizens.
 To educate people about India’s rich tribal
culture and history, the govt would set up a tribal
museum in Ranchi. The finance minister said.

7. EDUCATION
 Nirmala Sitharaman allocation of 99,300 cr for education
sector.
 3,000 cr for skill development in her 2020-21
 she said the govt would introduce FDI in the sector.
 nirmala Sitharaman said the centre would announce a
new education policys and announced a degree level full
fledged online education progrsmme to be offered by
institutes ranked in the top 100 by the National Institutional
ranking Framework.

8. AGRICULTURE
Nirmala Sitharaman’s 16 point formula to double farmers
income, revive agriculture.
o PM KUSUM to cover 20 lakh farmers for stand alone solar
pumps and further 15 lakh for grid connected pumps.
o SHGs run Village storage scheme to be launched
o integration of e-NWR with e-NAM
o increasing coverage of artificial insemination to 70 percent.
o Doubling of milk processing capacity by 2025
o Agricultural credit target of Rs. 15 lakh cr for 2020-21
o Fish production target of 200 lakh tonnes by 2022-23
o Another 45,000 acres of aqua culture to be supported
o raise fishery exports to Rs.1lakh crore by 2024-25

9. FUND ALLOCATION /TARGETS FOR 2020-21
 Rs. 2.83 lakh crore spending proposed for
agriculture and rural development.
 Agri credit target set at Rs 15 lakh cr
 Rs.1.7 lakh cr for transport
 RS.27,300 cr for development of industry and
commerce.
 Rs. 3,000 cr allocated for skill development
 health sector will be allocated Rs. 69000 cr
 Swachh Bharat Mission allocation reduced to Rs.
12,300 cr for 2020-21
 Schemes for scheduled tribes at Rs.53700 cr
 Schemes for scheduled caste, OBC’s at Rs 85000
cr
 Rs. 3.6 lakh cr for approved for Jal Jeevan Scheme
 Rs. 4400 cr for climate change plans

10.  Rs. 99300 cr for education sector
 Rs.2500 cr for tourism
 Senior citizens and Diyang citizens welfare
allotted Rs. 9500 cr
 Rs 3150 cr for culture
 Rs. 6000cr for bharat net
 Rs 28600 cr for women
 Rs. 1480 cr towards National Technical
textiles Mission

11. HERE IS A COMPLETE LIST OF WHAT GETS COSTLY AND WHAT
GETS CHEAPER
WHAT GETS COSTLIER?(increased cess/duty)
Footwear
Furniture
Imported medical equipment
Cigraettes
Tobaacco products
Wall fans
Kitchen ware
Skimmed milk
Soya protein
Soya fibre
Steel
Copper
Clay iron
Some automobile spare parts
Some electrical products

12. WHAT GETS CHEAPER? (DECREASED CESS/
DUTY)
IMPORT OF NEWSPRINT
Light weight coated paper to 5%
Fuse
Chemicals
Plastic
Purified terephthalic acid

14. Thank you