The document provides a summary of key highlights from the Union Budget 2020-21 presented by the Finance Minister. It outlines the three broad themes of the budget - Aspirational India, Economic Development for All, and Caring Society. It then details various allocations and policy measures across sectors like agriculture, healthcare, education, infrastructure, housing, and more to achieve the objectives under each theme. Key allocations include Rs. 2.83 lakh crore for agriculture and rural development, Rs. 69,000 crore for healthcare, Rs. 99,300 crore for education, and Rs. 100 lakh crore investment in infrastructure over 5 years.
This presentation is regarding the whole budget analysis of 2019 mentioning the important investments and expenditures of the government in coming years.
Thank You
This document discusses strategies and government initiatives to increase agricultural productivity in India. It proposes establishing training centers in every area to educate farmers about modern technologies like mechanization, fertilizers, irrigation techniques and pesticides. It also recommends that the government help farmers financially by providing subsidies, credits and investment in irrigation. Specific initiatives mentioned include opening specialized agricultural credit branches, allocating funds to increase rice production in eastern states, and launching a national e-governance plan in agriculture. Overall, the document emphasizes educating farmers about new technologies while also incentivizing them financially and technically to adopt these methods.
The document is an economic budget proposal for 2016-17 presented by students from Laxmi Institute of Technology. It summarizes the key priorities and allocation of funds in areas such as agriculture, rural development, education, skill development, job creation, governance, and tax simplification. Some highlights include allocating 35,984 crores for agriculture and farmers' welfare, 87,765 crores for rural sector programs, 1804 crores for skill development initiatives, and focusing on improving ease of doing business and fiscal discipline. The budget aims to boost economic growth while addressing challenges of global slowdown and increased fiscal burdens.
Union Budget: Sector Highlights 2018-19 - Prepared by Edelman IndiaEdelmanIndiaPA
Highlights of key announcements made by Hon'ble Minister of Finance, Shri Arun Jaitley, during this year's Union Budget.
The sectors covered are:
1) Agriculture and Rural Development
2) Banking, Financial Services and Insurance
3) E-commerce and Retail
4) Energy
5) FMCG, Food & Beverages
6) Infrastructure and Housing
7) Manufacturing
8) Railways
9) Social Welfare
10) IT & Telecom
This document discusses plans to develop the North-East region of India through the North-East Industrial Corridor (NEIC) project. The NEIC aims to connect Kolkata to the ASEAN countries through Bangladesh and the North-East states, providing employment, infrastructure development, and access to international markets. Key goals of the NEIC include doubling employment, tripling industrial output, and quadrupling exports from the region over five years. Developing infrastructure like roads, railways, and hydropower is emphasized to support industry and trade.
The document summarizes key aspects of the 2018-19 Indian budget including:
- Reduced corporate tax rate of 25% for companies with turnover up to Rs. 250 crore.
- Standard deduction of Rs. 40,000 introduced in lieu of transport and medical reimbursements.
- Increased tax benefits for senior citizens including higher deduction limits for health insurance and medical expenditures.
- Long term capital gains over Rs. 1 lakh to be taxed at 10% without indexation benefit.
- Higher allocation for education, health, infrastructure, MSMEs, and women's empowerment.
The 12th five year plan aimed to renew India's economy through high investment and a targeted GDP growth rate of 8.2% annually. Key objectives included better agricultural performance, job creation, industrial growth, and strengthening infrastructure, education, health, and other social services. Strategies to achieve these objectives involved higher investment, market development, rural development, decentralization, technological innovation, and reforms in various sectors like energy, education, and healthcare. Reforms around corporate governance, corporate social responsibility, liberalizing the external sector, and moving towards capital account convertibility were also seen as important to drive faster and more inclusive economic growth.
This presentation is regarding the whole budget analysis of 2019 mentioning the important investments and expenditures of the government in coming years.
Thank You
This document discusses strategies and government initiatives to increase agricultural productivity in India. It proposes establishing training centers in every area to educate farmers about modern technologies like mechanization, fertilizers, irrigation techniques and pesticides. It also recommends that the government help farmers financially by providing subsidies, credits and investment in irrigation. Specific initiatives mentioned include opening specialized agricultural credit branches, allocating funds to increase rice production in eastern states, and launching a national e-governance plan in agriculture. Overall, the document emphasizes educating farmers about new technologies while also incentivizing them financially and technically to adopt these methods.
The document is an economic budget proposal for 2016-17 presented by students from Laxmi Institute of Technology. It summarizes the key priorities and allocation of funds in areas such as agriculture, rural development, education, skill development, job creation, governance, and tax simplification. Some highlights include allocating 35,984 crores for agriculture and farmers' welfare, 87,765 crores for rural sector programs, 1804 crores for skill development initiatives, and focusing on improving ease of doing business and fiscal discipline. The budget aims to boost economic growth while addressing challenges of global slowdown and increased fiscal burdens.
Union Budget: Sector Highlights 2018-19 - Prepared by Edelman IndiaEdelmanIndiaPA
Highlights of key announcements made by Hon'ble Minister of Finance, Shri Arun Jaitley, during this year's Union Budget.
The sectors covered are:
1) Agriculture and Rural Development
2) Banking, Financial Services and Insurance
3) E-commerce and Retail
4) Energy
5) FMCG, Food & Beverages
6) Infrastructure and Housing
7) Manufacturing
8) Railways
9) Social Welfare
10) IT & Telecom
This document discusses plans to develop the North-East region of India through the North-East Industrial Corridor (NEIC) project. The NEIC aims to connect Kolkata to the ASEAN countries through Bangladesh and the North-East states, providing employment, infrastructure development, and access to international markets. Key goals of the NEIC include doubling employment, tripling industrial output, and quadrupling exports from the region over five years. Developing infrastructure like roads, railways, and hydropower is emphasized to support industry and trade.
The document summarizes key aspects of the 2018-19 Indian budget including:
- Reduced corporate tax rate of 25% for companies with turnover up to Rs. 250 crore.
- Standard deduction of Rs. 40,000 introduced in lieu of transport and medical reimbursements.
- Increased tax benefits for senior citizens including higher deduction limits for health insurance and medical expenditures.
- Long term capital gains over Rs. 1 lakh to be taxed at 10% without indexation benefit.
- Higher allocation for education, health, infrastructure, MSMEs, and women's empowerment.
The 12th five year plan aimed to renew India's economy through high investment and a targeted GDP growth rate of 8.2% annually. Key objectives included better agricultural performance, job creation, industrial growth, and strengthening infrastructure, education, health, and other social services. Strategies to achieve these objectives involved higher investment, market development, rural development, decentralization, technological innovation, and reforms in various sectors like energy, education, and healthcare. Reforms around corporate governance, corporate social responsibility, liberalizing the external sector, and moving towards capital account convertibility were also seen as important to drive faster and more inclusive economic growth.
The Key Highlights of Union Budget 2020-2021Udyen Jain
Finance Minister (FM) Nirmala Sitharaman has presented the Union Budget 2020-2021 of India on the 1st of February, 2020. Focusing on measures taken by the government towards reaching the target of a $5 trillion economy by the end of 2022.
The document summarizes the key aspects of the Union Budget 2014-15 in India. It outlines the budget's focus on developing new and rural India, and its allocation of funds across various sectors like agriculture, industry, infrastructure, education, health, and defense. Some major allocations included Rs. 8 lakh crore for agriculture credit, Rs. 14,389 crore for rural road development, Rs. 500 crore to set up 5 new IITs, and Rs. 5,000 crore additional allocation for defense. The budget estimated total expenditure of Rs. 17,94,892 crore with gross tax receipts of Rs. 13,64,524 crore.
The document summarizes the key aspects of the Union Budget 2020-21 presented by the Finance Minister Nirmala Sitharaman, including structural reforms focused on governance, financial sector, agriculture, and infrastructure development, as well as expenditure estimates and tax proposals aimed at boosting the Indian economy and achieving the government's vision of an aspirational India. The budget aims to balance growth promotion with fiscal discipline through measured stimulus targeted at entrepreneurship, trust-building, and citizen prosperity.
The summary provides the key highlights from the Union Budget 2022-23:
1) The total expenditure for 2022-23 is estimated at Rs. 39.45 lakh crore with a fiscal deficit target of 6.4% of GDP. Several programs are aimed at boosting infrastructure development, MSMEs, agriculture, renewable energy, and health.
2) Major infrastructure schemes include expanding the national highways network, developing multimodal logistics parks, upgrading railway infrastructure, and introducing ropeways under the Parvatmala program.
3) Support for MSMEs includes extending ECLGS, additional credit facilitation, and the RAMP program. Agriculture initiatives include MSP payments, promoting natural
SUMMARY, COMPREHENSIVE,COMPARATIVE,CONCISE,CRISP, version of budget 2017-18 and 2018-19 .
one stop solution for all union budget queries.
Very helpful for finance students,MBA students,Professionals,UPSC students,and also for enthusiasts.
The budget focused on developing a 'New India' through boosts for agriculture, rural development, infrastructure, healthcare, employment and education. Key announcements included increasing MSP for crops to 1.5 times production cost, allocating Rs. 2000 crore for developing agricultural markets, and doubling allocation for food processing. The budget also proposed the world's largest government healthcare program covering over 10 crore poor families and allocating funds for rural housing and education infrastructure development. However, expectations of income tax cuts were mostly unmet with the exception of a standard deduction increase, and stock markets fell due to the announcement of a 10% tax on long-term capital gains from equities.
Latest Key Features of Budget 2017-2018 on each topics discussed in Union Bud...Youth Apps
Latest Key Features of Budget 2017-2018 on each topics discussed in Union Budget 2017.
INTRODUCTION
CHALLENGES IN 2017-18
DEMONITISATION
ROADMAP & PRIORITIES
FARMERS
RURAL POPULATION
YOUTH
INFRASTRUCTURE
FINANCIAL SECTOR
DIGITAL ECONOMY
PUBLIC SERVICE
PRUDENT FISCAL MANAGEMENT
PROMOTING AFFORDABLE HOUSING AND REAL ESTATE SECTOR
PROMOTING DIGITAL ECONOMY
EASE OF DOING BUSINESS
GOODS AND SERVICES TAX
RAPID (Revenue, Accountability, Probity, Information and Digitisation)
India budget Highlights D N Sharma & Associates FY14-15edeepaksharma
The document summarizes key aspects of the Indian budget for 2014-15. It notes that India's economic growth has declined in recent years due to global and domestic factors. The budget aims to boost growth through measures such as reducing the fiscal deficit, controlling inflation, strengthening the banking sector, promoting infrastructure development and renewable energy, and supporting rural development and small/medium enterprises. It also outlines plans to improve health, education, housing, social welfare programs, tourism, and national security.
The document discusses key aspects of the Indian Union Budget announced in 2017, including:
- Reduced income tax rates and a higher income tax exemption limit.
- Increased spending on rural development, healthcare, infrastructure, and other social programs targeting farmers, youth, and other groups.
- Measures to promote digital payments and increase transparency in political funding.
- Higher allocations for initiatives related to railways, roads, education, skill development, and rural electrification.
The document discusses key aspects of the Indian Union Budget announced in 2017, including:
- Reduced income tax rates and a higher income tax exemption limit.
- Increased spending on rural development, healthcare, infrastructure, and other social programs targeting farmers, youth, and other groups.
- Measures to promote digital payments and increase transparency in political funding.
- Higher allocations for railways, roads, defense, and other infrastructure sectors along with plans for new projects.
The document is a summary of the key announcements made in the Indian Union Budget for 2018-19 presented by Finance Minister Arun Jaitley. Some of the key highlights include:
- Increased focus on agriculture and rural economy through initiatives like Operation Green, e-NAM, and increasing MSP for crops.
- Investments in education through the new RISE initiative and setting up more medical colleges and Ekalavya schools.
- Allocations for railways infrastructure projects, electrification, dedicated freight corridors and procurement of trains and locomotives.
- Tax relief for small businesses and salaried individuals through standard deduction and lower tax rates.
- Increased investments in infrastructure like roads, airports,
The document summarizes key points from the Budget Speech 2023-24 on amendments relating to indirect taxes. Some key points include:
- Reduction in basic customs duty is proposed to reduce input costs, promote export competitiveness, and correct inverted duty structures to boost manufacturing.
- Central excise duty exemption is being provided for blended Compressed Natural Gas containing bio-gas/compressed bio-gas to promote green fuel.
- There are some other minor changes being proposed along with the budget proposals and explanatory memorandum providing more details.
The Finance minister f India presented the last budget of the eisting goverme...DeepakAgrawal357530
The budget document outlines several key proposals in direct taxes, including no change in direct tax rates and income exemption up to Rs. 7 lakh under the new tax regime. It also discusses proposals to empower youth, farmers and women, including training programs, loan programs, and increasing budgets. Infrastructure development is emphasized through railway, airport and metro expansion. Sustainable development and healthcare initiatives like solar power, electric vehicles and expanding insurance coverage are also summarized.
The document outlines the government's budget proposals across 9 pillars including agriculture, rural development, social sector, education, skills and job creation, infrastructure, financial sector reforms, governance, fiscal discipline, and tax reforms. Key highlights include doubling farmers' income, rural employment, health coverage for all, increasing education quality, skill development programs, infrastructure investment, financial stability, ease of doing business, prudent fiscal management, and reducing the tax compliance burden. The document then provides more details on initiatives and allocations for agriculture, rural development, social programs, education, and skill and job creation.
The Union Budget 2017-18 aims to improve the quality of growth and life of citizens. Key priorities include farmers, rural development, skills development for youth, and welfare of the poor. Infrastructure development remains a focus. Fiscal deficit is targeted at 3.2% of GDP for 2017-18. Prudent fiscal management aims to achieve fiscal targets while increasing capital expenditures. The budget emphasizes use of digital technology and improving tax administration.
India budget highlights d n sharma & associates fy15-16Shailesh Chheda
The document summarizes key aspects of India's Union Budget for 2015-16. It outlines the improving state of the Indian economy, with growth accelerating and inflation declining. It highlights challenges around increasing investment, manufacturing declines, and resource constraints. The budget aims to boost growth through initiatives like financial inclusion, infrastructure development, health, education, and welfare programs. It provides funding for agriculture, small businesses, affordable housing, and skills development. It also outlines tax proposals around curbing black money, lowering corporate taxes, and measures to boost manufacturing under the "Make in India" campaign.
Technical Strength, Non Technical strength, SKills SHUBHAM SINGH
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PLZ LIKE & FOLLOW ME.
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The Key Highlights of Union Budget 2020-2021Udyen Jain
Finance Minister (FM) Nirmala Sitharaman has presented the Union Budget 2020-2021 of India on the 1st of February, 2020. Focusing on measures taken by the government towards reaching the target of a $5 trillion economy by the end of 2022.
The document summarizes the key aspects of the Union Budget 2014-15 in India. It outlines the budget's focus on developing new and rural India, and its allocation of funds across various sectors like agriculture, industry, infrastructure, education, health, and defense. Some major allocations included Rs. 8 lakh crore for agriculture credit, Rs. 14,389 crore for rural road development, Rs. 500 crore to set up 5 new IITs, and Rs. 5,000 crore additional allocation for defense. The budget estimated total expenditure of Rs. 17,94,892 crore with gross tax receipts of Rs. 13,64,524 crore.
The document summarizes the key aspects of the Union Budget 2020-21 presented by the Finance Minister Nirmala Sitharaman, including structural reforms focused on governance, financial sector, agriculture, and infrastructure development, as well as expenditure estimates and tax proposals aimed at boosting the Indian economy and achieving the government's vision of an aspirational India. The budget aims to balance growth promotion with fiscal discipline through measured stimulus targeted at entrepreneurship, trust-building, and citizen prosperity.
The summary provides the key highlights from the Union Budget 2022-23:
1) The total expenditure for 2022-23 is estimated at Rs. 39.45 lakh crore with a fiscal deficit target of 6.4% of GDP. Several programs are aimed at boosting infrastructure development, MSMEs, agriculture, renewable energy, and health.
2) Major infrastructure schemes include expanding the national highways network, developing multimodal logistics parks, upgrading railway infrastructure, and introducing ropeways under the Parvatmala program.
3) Support for MSMEs includes extending ECLGS, additional credit facilitation, and the RAMP program. Agriculture initiatives include MSP payments, promoting natural
SUMMARY, COMPREHENSIVE,COMPARATIVE,CONCISE,CRISP, version of budget 2017-18 and 2018-19 .
one stop solution for all union budget queries.
Very helpful for finance students,MBA students,Professionals,UPSC students,and also for enthusiasts.
The budget focused on developing a 'New India' through boosts for agriculture, rural development, infrastructure, healthcare, employment and education. Key announcements included increasing MSP for crops to 1.5 times production cost, allocating Rs. 2000 crore for developing agricultural markets, and doubling allocation for food processing. The budget also proposed the world's largest government healthcare program covering over 10 crore poor families and allocating funds for rural housing and education infrastructure development. However, expectations of income tax cuts were mostly unmet with the exception of a standard deduction increase, and stock markets fell due to the announcement of a 10% tax on long-term capital gains from equities.
Latest Key Features of Budget 2017-2018 on each topics discussed in Union Bud...Youth Apps
Latest Key Features of Budget 2017-2018 on each topics discussed in Union Budget 2017.
INTRODUCTION
CHALLENGES IN 2017-18
DEMONITISATION
ROADMAP & PRIORITIES
FARMERS
RURAL POPULATION
YOUTH
INFRASTRUCTURE
FINANCIAL SECTOR
DIGITAL ECONOMY
PUBLIC SERVICE
PRUDENT FISCAL MANAGEMENT
PROMOTING AFFORDABLE HOUSING AND REAL ESTATE SECTOR
PROMOTING DIGITAL ECONOMY
EASE OF DOING BUSINESS
GOODS AND SERVICES TAX
RAPID (Revenue, Accountability, Probity, Information and Digitisation)
India budget Highlights D N Sharma & Associates FY14-15edeepaksharma
The document summarizes key aspects of the Indian budget for 2014-15. It notes that India's economic growth has declined in recent years due to global and domestic factors. The budget aims to boost growth through measures such as reducing the fiscal deficit, controlling inflation, strengthening the banking sector, promoting infrastructure development and renewable energy, and supporting rural development and small/medium enterprises. It also outlines plans to improve health, education, housing, social welfare programs, tourism, and national security.
The document discusses key aspects of the Indian Union Budget announced in 2017, including:
- Reduced income tax rates and a higher income tax exemption limit.
- Increased spending on rural development, healthcare, infrastructure, and other social programs targeting farmers, youth, and other groups.
- Measures to promote digital payments and increase transparency in political funding.
- Higher allocations for initiatives related to railways, roads, education, skill development, and rural electrification.
The document discusses key aspects of the Indian Union Budget announced in 2017, including:
- Reduced income tax rates and a higher income tax exemption limit.
- Increased spending on rural development, healthcare, infrastructure, and other social programs targeting farmers, youth, and other groups.
- Measures to promote digital payments and increase transparency in political funding.
- Higher allocations for railways, roads, defense, and other infrastructure sectors along with plans for new projects.
The document is a summary of the key announcements made in the Indian Union Budget for 2018-19 presented by Finance Minister Arun Jaitley. Some of the key highlights include:
- Increased focus on agriculture and rural economy through initiatives like Operation Green, e-NAM, and increasing MSP for crops.
- Investments in education through the new RISE initiative and setting up more medical colleges and Ekalavya schools.
- Allocations for railways infrastructure projects, electrification, dedicated freight corridors and procurement of trains and locomotives.
- Tax relief for small businesses and salaried individuals through standard deduction and lower tax rates.
- Increased investments in infrastructure like roads, airports,
The document summarizes key points from the Budget Speech 2023-24 on amendments relating to indirect taxes. Some key points include:
- Reduction in basic customs duty is proposed to reduce input costs, promote export competitiveness, and correct inverted duty structures to boost manufacturing.
- Central excise duty exemption is being provided for blended Compressed Natural Gas containing bio-gas/compressed bio-gas to promote green fuel.
- There are some other minor changes being proposed along with the budget proposals and explanatory memorandum providing more details.
The Finance minister f India presented the last budget of the eisting goverme...DeepakAgrawal357530
The budget document outlines several key proposals in direct taxes, including no change in direct tax rates and income exemption up to Rs. 7 lakh under the new tax regime. It also discusses proposals to empower youth, farmers and women, including training programs, loan programs, and increasing budgets. Infrastructure development is emphasized through railway, airport and metro expansion. Sustainable development and healthcare initiatives like solar power, electric vehicles and expanding insurance coverage are also summarized.
The document outlines the government's budget proposals across 9 pillars including agriculture, rural development, social sector, education, skills and job creation, infrastructure, financial sector reforms, governance, fiscal discipline, and tax reforms. Key highlights include doubling farmers' income, rural employment, health coverage for all, increasing education quality, skill development programs, infrastructure investment, financial stability, ease of doing business, prudent fiscal management, and reducing the tax compliance burden. The document then provides more details on initiatives and allocations for agriculture, rural development, social programs, education, and skill and job creation.
The Union Budget 2017-18 aims to improve the quality of growth and life of citizens. Key priorities include farmers, rural development, skills development for youth, and welfare of the poor. Infrastructure development remains a focus. Fiscal deficit is targeted at 3.2% of GDP for 2017-18. Prudent fiscal management aims to achieve fiscal targets while increasing capital expenditures. The budget emphasizes use of digital technology and improving tax administration.
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The document summarizes key aspects of India's Union Budget for 2015-16. It outlines the improving state of the Indian economy, with growth accelerating and inflation declining. It highlights challenges around increasing investment, manufacturing declines, and resource constraints. The budget aims to boost growth through initiatives like financial inclusion, infrastructure development, health, education, and welfare programs. It provides funding for agriculture, small businesses, affordable housing, and skills development. It also outlines tax proposals around curbing black money, lowering corporate taxes, and measures to boost manufacturing under the "Make in India" campaign.
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PLZ LIKE & FOLLOW ME.
SHUBHAM SINGH
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Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
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OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
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1. 0
ENGINEERING ECONOMICS
REPORT ON UNION BUDGET 2020-21
Date of Submission :- 10thth
April 2019
Student Name :- Shubham Singh
Roll no. :- 1801609
Section :- CV-2, 3RD
Year
School Name :- School of Civil Engineering
SIGN. OF SUBJECT INCHARGE
2. 1
TOPIC - UNION BUDGET 2020-21
Presenting the first Union Budget of the third decade of 21st
century, Finance Minister
Smt. Nirmala Sitharaman, today unveiled a series of far-reaching reforms, aimed at
energizing the Indian economy through a combination of short-term, medium-term, and
long-term measures.
The Key Highlights of Union Budget 2020-21 are as follows:
Three prominent themes of the Budget
• Aspirational India - better standards of living with access to health, education and better
jobs for all sections of the society
• Economic Development for all - “Sabka Saath , Sabka Vikas , Sabka Vishwas”.
• Caring Society - both humane and compassionate; Antyodaya as an article of faith.
• Three broad themes are held together by:
o Corruption free, policy-driven Good Governance.
o Clean and sound financial sector.
• Ease of Living underlined by the three themes of Union Budget 2020-21.
Three components of Aspirational India
• Agriculture, Irrigation, and Rural Development
• Wellness, Water, and Sanitation
• Education and Skills
Sixteen Action Points for Agriculture, Irrigation and Rural Development
• Rs. 2.83 lakh crore to be allocated for the following 16 Action Points:
• Rs. 1.60 lakh crore for Agriculture, Irrigation & allied activities.
• Rs. 1.23 lakh crore for Rural development & Panchayati Raj.
• Agriculture credit:
Rs. 15 lakh crore target set for the year 2020-21.
PM-KISAN beneficiaries to be covered under the KCC scheme.
NABARD Re-finance Scheme to be further expanded.
• Comprehensive measures for 100 water-stressed districts proposed.
Blue Economy:
o Rs. 1 lakh crore fisheries’ exports to be achieved by 2024-25. o 200 lakh tonnes
fish production targeted by 2022-23. o 3477 Sagar Mitras and 500 Fish Farmer
Producer Organisations to involve youth in fisheries extension.
o Growing of algae, sea-weed and cage culture to be promoted. o Framework for
development, management and conservation of marine fishery resources.
• Kisan Rail to be setup by Indian Railways through PPP:
o To build a seamless national cold supply chain for perishables (milk, meat, fish,
etc.
o Express and Freight trains to have refrigerated coaches.
• Krishi Udaan to be launched by the Ministry of Civil Aviation:
o Both international and national routes to be covered.
o North-East and tribal districts to realize Improved value of agri-products.
• One-Product One-District for better marketing and export in the Horticulture sector.
OF UNION
3. 2
• Balanced use of all kinds of fertilizers - traditional organic and innovative fertilizers.
• Measures for organic, natural, and integrated farming:
o Jaivik Kheti Portal – online national organic products market to be strengthened.
o Zero-Budget Natural Farming (mentioned in July 2019 Budget) to be included.
o Integrated Farming Systems in rain-fed areas to be expanded.
o Multi-tier cropping, bee-keeping, solar pumps, solar energy production in
noncropping season to be added.
• PM-KUSUM to be expanded:
o 20 lakh farmers to be provided for setting up stand-alone solar pumps.
o Another 15 lakh farmers to be helped to solarise their grid-connected pump sets.
o Scheme to enable farmers to set up solar power generation capacity on their
fallow/barren lands and to sell it to the grid.
• Village Storage Scheme:
o To be run by the SHGs to provide farmers a good holding capacity and reduce
their logistics cost.
o Women, SHGs to regain their position as Dhaanya Lakshmi.
• NABARD to map and geo-tag agri-warehouses, cold storages, reefer van facilities, etc.
• Warehousing in line with Warehouse Development and Regulatory Authority (WDRA)
norms:
o Viability Gap Funding for setting up such efficient warehouses at the block/taluk
level.
o Food Corporation of India (FCI) and Central Warehousing Corporation (CWC)
to undertake such warehouse building.
• Financing on Negotiable Warehousing Receipts (e-NWR) to be integrated with e-NAM.
State governments who undertake implementation of model laws (issued by the Central
government) to be encouraged.
• Livestock:
o Doubling of milk processing capacity to 108 million MT from 53.5 million MT
by 2025.
o Artificial insemination to be increased to 70% from the present 30%.
o MNREGS to be dovetailed to develop fodder farms.
o Foot and Mouth Disease, Brucellosis in cattle and Peste Des Petits ruminants
(PPR) in sheep and goat to be eliminated by 2025.
• Deen Dayal Antyodaya Yojana – 0.5 crore households mobilized with 58 lakh SHGs for
poverty alleviation.
Wellness, Water and Sanitation
• Rs. 69,000 crore allocated for overall Healthcare sector.
• Rs. 6400 crore (out of Rs. 69,000 crore) for PM Jan Arogya Yojana (PMJAY):
o More than 20,000 hospitals already empanelled under PM Jan Arogya Yojana
(PMJAY).
o Viability Gap Funding window proposed for setting up hospitals in the PPP
mode.
o Aspirational Districts with no Ayushman empanelled hospitals to be covered in
the first phase.
o Targeting diseases with an appropriately designed preventive regime using
Machine Learning and AI.
• Jan Aushadhi Kendra Scheme to offer 2000 medicines and 300 surgicals in all districts
by 2024.
• TB Harega Desh Jeetega campaign launched - commitment to end Tuberculosis by
2025.
• Rs. 3.60 lakh crore approved for Jal Jeevan Mission:
4. 3
o Rs. 11,500 crore for the year 2020-21.
o Augmenting local water sources, recharging existing sources, and promoting
water harvesting and de-salination.
o Cities with million-plus population to be encouraged to achieve the objective
during the current year itself.
• Rs.12, 300 crore allocation for Swachh Bharat Mission in 2020-21:
o Committment to ODF-Plus in order to sustain ODF behaviour.
o Emphasis on liquid and grey water management. o Focus also on Solid-waste
collection, source segregation, and processing.
Education and Skills
• Rs. 99,300 crore for education sector and Rs. 3000 crore for skill development in 202021.
New Education Policy to be announced soon.
• National Police University and National Forensic Science University proposed for
policing science, forensic science, and cyber-forensics.
• Degree level full-fledged online education program by Top-100 institutions in the
National Institutional Ranking Framework.
• Up to 1-year internship to fresh engineers to be provided by Urban Local Bodies.
• Budget proposes to attach a medical college to an existing district hospital in PPP mode.
• Special bridge courses to be designed by the Ministries of Health, and Skill
Development: o To fulfill the demand for teachers, nurses, para-medical staff and care-
givers abroad. o To bring in equivalence in the skill sets of the workforce and employers’
standards.
• 150 higher educational institutions to start apprenticeship embedded degree/diploma
courses by March 2021.
• External Commercial Borrowings and FDI to be enabled for education sector.
• Ind-SAT proposed for Asian and African countries as a part of Study in India program.
Economic Development
Industry, Commerce and Investment
• Rs. 27,300 crore allocated for 2020-21 for development and promotion of Industry and
Commerce.
• Investment Clearance Cell proposed to be set up:
o To provide “end to end” facilitation and support.
o To work through a portal.
• Five new smart cities proposed to be developed.
• Scheme to encourage manufacture of mobile phones, electronic equipment and
semiconductor packaging proposed.
• National Technical Textiles Mission to be set up:
o With four-year implementation period from 2020-21 to 2023-24.
o At an estimated outlay of Rs 1480 crore.
o To position India as a global leader in Technical Textiles.
• New scheme NIRVIK to be launched to achieve higher export credit disbursement,
which provides for:
o Higher insurance coverage
o Reduction in premium for small exporters
o Simplified procedure for claim settlements.
• Turnover of Government e-Marketplace (GeM) proposed to be taken to Rs 3 lakh crore.
• Scheme for Revision of duties and taxes on exported products to be launched.
o Exporters to be digitally refunded duties and taxes levied at the Central, State
and local levels, which are otherwise not exempted or refunded.
• All Ministries to issue quality standard orders as per PM’s vision of “Zero Defect-Zero
Effect” manufacturing.
5. 4
Infrastructure
• Rs.100 lakh crore to be invested on infrastructure over the next 5 years.
• National Infrastructure Pipeline:
o Rs. 103 lakh crore worth projects; launched on 31st December 2019. o More than
6500 projects across sectors, to be classified as per their size and stage of
development.
• A National Logistics Policy to be released soon:
o To clarify roles of the Union Government, State Governments and key regulators.
o A single window e-logistics market to be created
o Focus to be on generation of employment, skills and making MSMEs competitive.
• National Skill Development Agency to give special thrust to infrastructure-focused skill
development opportunities.
• Project preparation facility for infrastructure projects proposed.
o To actively involve young engineers, management graduates and economists from
Universities.
• Infrastructure agencies of the government to involve youth-power in start-ups. Rs.1.7
lakh crore proposed for transport infrastructure in 2020-21.
6. 5
Highways:
• Accelerated development of highways to be undertaken, including:
o 2500 Km access control highways.
o 9000 Km of economic corridors.
o 2000 Km of coastal and land port roads.
o 2000 Km of strategic highways.
• Delhi-Mumbai Expressway and two other packages to be completed by 2023.
• Chennai-Bengaluru Expressway to be started.
• Proposed to monetise at least 12 lots of highway bundles of over 6000 Km before 2024.
Indian Railways:
• Five measures:
o Large solar power capacity to be set up alongside rail tracks, on land owned by
railways.
o Four station re-development projects and operation of 150 passenger trains through
PPP.
o More Tejas type trains to connect iconic tourist destinations. o High speed train
between Mumbai and Ahmedabad to be actively pursued.
o 148 km long Bengaluru Suburban transport project at a cost of Rs 18600 crore, to
have fares on metro model. Central Government to provide 20% of equity and
facilitate external assistance up to 60% of the project cost.
• Indian Railways’ achievements:
o 550 Wi-fi facilities commissioned in as many stations.
o Zero unmanned crossings. o 27000 Km of tracks to be electrified.
Ports & Water-ways:
• Corporatizing at least one major port and its listing on stock exchanges to be considered.
• Governance framework keeping with global benchmarks needed for more efficient
seaports.
• Economic activity along river banks to be energised as per Prime Minister’s Arth Ganga
concept.
Airports:
• 100 more airports to be developed by 2024 to support Udaan scheme.
7. 6
• Air fleet number expected to go up from present 600 to 1200 during this time.
Electricity:
• “Smart” metering to be promoted.
• More measures to reform DISCOMs to be taken.
Power:
• Rs.22, 000 crore proposed for power and renewable energy sector in 2020-21.
• Expansion of national gas grid from the present 16200 km to 27000 km proposed.
• Further reforms to facilitate transparent price discovery and ease of transactions.
New Economy
• To take advantage of new technologies:
o Policy to enable private sector to build Data Centre parks throughout the country to
be brought out soon.
o Fibre to the Home (FTTH) connections through Bharatnet to link 100,000 gram
panchayats this year.
o Rs.6000 crore proposed for Bharatnet programme in 2020-21.
• Measures proposed to benefit Start-ups:
o A digital platform to be promoted to facilitate seamless application and capture of
IPRs.
o Knowledge Translation Clusters to be set up across different technology sectors
including new and emerging areas.
o For designing, fabrication and validation of proof of concept, and further scaling
up Technology Clusters, harbouring test beds and small scale manufacturing
facilities to be established.
o Mapping of India’s genetic landscape- Two new national level Science Schemes to
be initiated to create a comprehensive database.
o Early life funding proposed, including a seed fund to support ideation and
development of early stage Start-ups.
• Rs.8000 crore proposed over five years for National Mission on Quantum Technologies
and Applications.
Caring Society
• Focus on:
o Women & child, o Social Welfare; o Culture and Tourism
• Allocation of Rs. 35,600 crore for nutrition-related programmes proposed for the FY2020-
21.
• Rs.28, 600 crore proposed for women specific programs.
• Issue about age of a girl entering motherhood - proposed to appoint a task force to present
its recommendations in six months’ time.
• Financial support for wider acceptance of technologies, identified by Ministry of Housing
and Urban Affairs to ensure no manual cleaning of sewer systems or septic tanks, to be
provided.
• Rs. 85, 000 crore proposed for 2020-21 for welfare of Scheduled Castes and Other
Backward Classes.
• Rs. 53, 700 crore provided to further development and welfare of Scheduled Tribes.
• Enhanced allocation of Rs. 9,500 crore provided for 2020-21 for senior citizens and
Divyang.
8. 7
Culture & Tourism
• Allocation of Rs. 2500 crore for 2020-21 for tourism promotion.
• Rs.3150 crore proposed for Ministry of Culture for 2020-21.
• An Indian Institute of Heritage and Conservation under Ministry of Culture proposed; with
the status of a deemed University.
• 5 archaeological sites to be developed as iconic sites with on-site Museums:
o Rakhigarhi (Haryana)
o Hastinapur (Uttar Pradesh)
o Shivsagar (Assam)
o Dholavira (Gujarat)
o Adichanallur (Tamil Nadu)
• Re-curation of the Indian Museum in Kolkata, announced by Prime Minister in January
2020.
• Museum on Numismatics and Trade to be located in the historic Old Mint building in
Kolkata.
• 4 more museums from across the country to be taken up for renovation and re-curation.
• Support for setting up of a Tribal Museum in Ranchi (Jharkhand).
• Maritime museum to be set up at Lothal- the Harrapan age maritime site near Ahmedabad,
by Ministry of Shipping.
• State governments expected to develop a roadmap for certain identified destinations and
formulate financial plans during 2021 against which specified grants to be made available
to the States in 2020-21.
Environment & Climate Change
• Allocation for this purpose to be Rs.4400 crore for 2020-21.
• Proposed to advise the utilities to close the running old thermal power plants with carbon
emission above the pre-set norms.
• States that are formulating and implementing plans for ensuring cleaner air in cities above
one million to be encouraged.
• PM launched Coalition for Disaster Resilient Infrastructure (CDRI) with Secretariat in
Delhi. Second such international initiative after International Solar Alliance.
Governance
• Clean, corruption-free, policy driven, good in intent and most importantly trusting in faith.
• Taxpayer Charter to be enshrined in the Statute will bring fairness and efficiency in tax
administration.
• Companies Act to be amended to build into statues, criminal liability for certain acts that
are civil in nature.
o Other laws with such provisions are to be corrected after examination.
• Major reforms in recruitment to Non-Gazetted posts in Government and Public sector
banks:
o An independent, professional and specialist National Recruitment Agency (NRA)
for conducting a computer-based online Common Eligibility Test for recruitment.
o A test-centre in every district, particularly in the Aspirational Districts.
• A robust mechanism to be evolved for appointment including direct recruitment to various
Tribunals and specialised bodies to attract best talents and professional experts.
• Contract Act to be strengthened.
• New National Policy on Official Statistics to:
9. 8
o Promote use of latest technologies including AI.
o Lay down a road-map towards modernised data collection, integrated information
portal and timely dissemination of information.
• A sum of Rs. 100 crore allocated to begin the preparations for G20 presidency to be hosted
in India in the year 2022.
• Development of North East region:
o Improved flow of funds using online portal by the Government.
o Greater access to financial assistance of Multilateral and Bilateral funding agencies.
• Development of Union Territories of J&K and Ladakh:
o An amount of Rs. 30,757 crore provided for the financial year 2020-21.
o The Union Territory of Ladakh has been provided with Rs. 5,958.
Financial Sector
• Reforms accomplished in PSBs :
o 10 banks consolidated into 4.
o Rs. 3,50,000 crore capital infused.
• Governance reforms to be carried out to bring in transparency and greater professionalism
in PSBs.
• Few PSBs to be encouraged to approach the capital market to raise additional capital
• Deposit Insurance and Credit Guarantee Corporation (DICGC) permitted to increase
Deposit Insurance Coverage to Rs. 5 lakh from Rs.1 lakh per depositor.
• Scheduled Commercial Bank’s health under monitoring through a robust mechanism,
keeping depositors’ money safe.
• Cooperative Banks to be strengthen by amending Banking Regulation Act for:
o Increasing professionalism.
o Enabling access to capital.
o Improving governance and oversight for sound banking through the RBI.
• NBFCs eligibility limit for debt recovery reduced from:
o Rs. 500 crore to Rs 100 crore asset size.
o Rs 1 crore to Rs 50 lakh loan size.
• Private capital in Banking system:
o Government to sell its balance holding in IDBI Bank to private, retail and
institutional investors through the stock exchange.
• Easier mobility in jobs:
o Inter-operability mechanism to safeguard the accumulated corpus.
• Pension Fund Regulatory Development Authority of India Act to be amended to:
o Strengthen regulating role of PFRDAI. o Facilitate separation of NPS trust for
government employees from PFRDAI.
o Enable establishment of a Pension Trust by the employees other than Government.
• Factor Regulation Act 2011 to be amended to:
o Enable NBFCs to extend invoice financing to the MSMEs through TReDS
• New scheme to provide subordinate debt for entrepreneurs of MSMEs by the banks
o Would be counted as quasi-equity.
o Would be fully guaranteed through the Credit Guarantee Trust for Medium and
Small Entrepreneurs (CGTMSE).
o The corpus of the CGTMSE would accordingly be augmented by the government.
10. 9
• Window for MSME’s debt restructuring by RBI to be extended by one year till March 31,
2021.
o More than five lakh MSMEs have already been benefitted.
• An app-based invoice financing loans product for MSMEs to be launched.
o To prevent the problem of delayed payments and consequential cash flows
mismatches.
• Export promotion of MSMEs:
o For selected sector such as pharmaceuticals, auto components and others. o An Rs
1000 crore scheme anchored by EXIM Bank together with SIDBI. o Hand holding
support for technology upgradations, R&D, business strategy etc.
Financial Market
• Deepening Bond Market.
o Certain specified categories of Government securities to be opened fully for non
resident investors also.
o FPI limit in corporate bonds increased to 15% from 9% of its outstanding stock.
• New legislation to be formulated for laying down a mechanism for netting of financial
contracts.
o Scope of credit default swaps to expand.
• Debt Based Exchange Traded Fund expanded by a new Debt-ETF consisting primarily of
Government Securities.
o To give attractive access to retail investors, pension funds and long-term investors.
• A Partial Credit Guarantee scheme for the NBFCs formulated post the Union budget 2019-
20 to address their liquidity constraints.
o New mechanism to be devised to further this.
o Government support to securities so floated.
Infrastructure Financing
• Rs.103 lakh crore National Infrastructure Pipeline projects earlier announced.
• Rs 22,000 crore to cater to the equity support to Infrastructure Finance Companies such as
IIFCL and a subsidiary of NIIF.
• IFSC, GIFT city: full of potential to become a centre of international finance as well as a
centre for high end data processing:
o An International Bullion exchange(s) to be set up as an additional option for trade
by global market participants with the approval of regulator.
Disinvestment
• Government to sell a part of its holding in LIC by way of Initial Public Offer (IPO).
Fiscal Management
• XV Finance Commission (FC):
o XV Finance Commission has given its first report for FY2020-21
o Recommendations accepted in substantial measure
o Its final report for five years beginning 2021-22 to be submitted during the latter
part of the year.
•
• GST Compensation Fund:
o Balances due out of collection of the years 2016-17 and 2017-18 to be transferred
to the Fund, in two instalments.
11. 10
o Hereinafter, transfers to the fund to be limited only to collection by way of GST
compensationcess.
• Overhaul of Centrally Sponsored Schemes and Central Sector Schemes necessary:
o To align them with emerging social and economic needs of tomorrow
o To ensure that scarce public resources are spent optimally
• On the recent debate over transparency and credibility of projected fiscal numbers, it is
assured that procedure adopted is compliant with the FRBM Act.
• For the FY 2019-20:
o Revised Estimates of Expenditure: at Rs.26.99 lakh crore o Revised Estimates of
Receipts: estimated at Rs.19.32 lakh crore.
• For year 2020-21:
o Nominal growth of GDP estimated at 10%.
o Receipts: estimated at Rs.22.46 lakh cr
o Expenditure: at Rs.30.42 lakh cr.
• Significant tax reforms for boosting investments recently undertaken. However, expected
tax buoyancy expected to take time.
• Fiscal deficit of 3.8% estimated in RE 2019-20 and 3.5% for BE 2020-21. It comprises
two ingredients;
3.3% for year 2019-20 and 3% for the 2020-21 budget estimate.
o Deviation of 0.5%, consistent with Section 4(3) of FRBM Act, both for RE 201920
and BE 2020-21. (Section 4 (2) of the FRBM Act provides for a trigger mechanism for
a deviation from the estimated fiscal deficit on account of structural reforms in the
economy with unanticipated fiscal implications.)
o Return path, committing to fiscal consolidation without compromising needs of
investment out of public funds, is laid in Medium Term Fiscal Policy cum Strategy
Statement.
o Market borrowings: Net market borrowings: Rs.4.99 lakh crore for 2019-20 and
Rs.5.36 lakh crore for 2020-21.
• A good part of the borrowings for the financial year 2020-21 to go towards Capital
expenditure that has been scaled up by more than 21%.
12. 11
Direct Tax
Direct Tax Proposals - To stimulate growth, simplify tax structure, bring ease of compliance, and
reduce litigations.
• Personal Income Tax:
o Significant relief to middle class taxpayers.
New and simplified personal income tax regime proposed:
Taxable Income Slab (Rs.) Existing tax rates New tax rates
0-2.5 Lakh Exempt Exempt
2.5-5 Lakh 5% 5%
5-7.5 Lakh 20% 10%
7.5-10 Lakh 20% 15%
10-12.5 Lakh 30% 20%
12.5-15 Lakh 30% 25%
Above 15 Lakh 30% 30%
o Around 70 of the existing exemptions and deductions (more than 100) to be
removed in the new simplified regime.
o Remaining exemptions and deductions to be reviewed and rationalised in coming
years.
o New tax regime to be optional - an individual may continue to pay tax as per the
old regime and avail deductions and exemptions.
o Measures to pre-fill the income tax return initiated so that an individual who opts
for the new regime gets pre-filled income tax returns and would need no assistance
from an expert to pay income tax.
o New regime to entail estimated revenue forgone of Rs. 40,000 crore per year.
• Corporate Tax:
o Tax rate of 15% extended to new electricity generation companies.
o Indian corporate tax rates now amongst the lowest in the world.
• Dividend Distribution Tax (DDT):
o DDT removed making India a more attractive investment destination.
o Deduction to be allowed for dividend received by holding company from its
subsidiary.
o Rs. 25,000 crore estimated annual revenue forgone.
• Start-ups:
o Start-ups with turnover up to Rs. 100 crore to enjoy 100% deduction for 3
consecutive assessment years out of 10 years.
o Tax payment on ESOPs deferred.
• MSMEs to boost less-cash economy:
Turnover threshold for audit increased to Rs. 5 crore from Rs. 1 crore for businesses
carrying out less than 5% business transactions in cash.
• Cooperatives:
o Parity brought between cooperatives and corporate sector.
o Option to cooperative societies to be taxed at 22% + 10% surcharge and 4% cess
with no exemption/deductions.
13. 12
o Cooperative societies exempted from Alternate Minimum Tax (AMT) just like
Companies are exempted from the Minimum Alternate Tax (MAT).
• Tax concession for foreign investments:
o 100% tax exemption to the interest, dividend and capital gains income on
investment made in infrastructure and priority sectors before 31st
March, 2024 with
a minimum lock-in period of 3 years by the Sovereign Wealth Fund of foreign
governments.
• Affordable housing:
o Additional deduction up to Rs. 1.5 lakhs for interest paid on loans taken for an
affordable house extended till 31st March, 2021.
o Date of approval of affordable housing projects for availing tax holiday on profits
earned by developers extended till 31st March, 2021.
Tax Facilitation Measures
• Instant PAN to be allotted online through Aadhaar.
• ‘Vivad Se Vishwas’ scheme, with a deadline of 30th
June, 2020, to reduce litigations in
direct taxes:
o Waiver of interest and penalty - only disputed taxes to be paid for payments till 31st
March, 2020.
o Additional amount to be paid if availed after 31st
March, 2020.
o Benefits to taxpayers in whose cases appeals are pending at any level.
• Faceless appeals to be enabled by amending the Income Tax Act.
• For charity institutions:
o Pre-filling in return through information of donations furnished by the done.
o Process of registration to be made completely electronic.
o Unique registration number (URN) to be issued to all new and existing charity
institutions.
o Provisional registration to be allowed for new charity institutions for three years.
o CBDT to adopt a Taxpayers’ Charter.
• Losses of merged banks:
o Amendments proposed to the Income-tax Act to ensure that entities benefit from
unabsorbed losses and depreciation of the amalgamating entities.
Indirect Tax
• GST:
o Cash reward system envisaged to incentivise customers to seek invoice.
o Simplified return with features like SMS based filing for nil return and
improved input tax credit flow to be implemented from 1st April, 2020 as a
pilot run.
o Dynamic QR-code capturing GST parameters proposed for consumer invoices.
o Electronic invoice to capture critical information in a centralized system to be
implemented in a phased manner.
o Aadhaar based verification of taxpayers being introduced to weed out dummy or
non-existent units.
o GST rate structure being deliberated to address inverted duty structure.
14. 13
• Customs Duties:
o Customs duty raised on footwear to 35% from 25% and on furniture goods to 25%
from 20%.
o Basic customs duty on imports of news print and light-weight coated paper reduced
from 10% to 5%.
o Customs duty rates revised on electric vehicles and parts of mobiles.
o 5% health cess to be imposed on the imports of medical devices, except those
exempt from BCD.
o Lower customs duty on certain inputs and raw materials like fuse, chemicals, and
plastics.
o Higher customs duty on certain goods like auto-parts, chemicals, etc. which are also
being made domestically.
• Trade Policy Measures o Customs Act being amended to enable proper checks of imports
under FTAs.
o Rules of Origin requirements to be reviewed for certain sensitive items.
o Provisions relating to safeguard duties to be strengthened to enable regulating such
surge in imports in a systematic way.
o Provisions for checking dumping of goods and imports of subsidized goods being
strengthened.
o Suggestions for reviews of exemptions from customs duty to be crowd-sourced.
• Excise duty proposed to be raised on Cigarettes and other tobacco products, no change
made in the duty rates of bidis.
• Anti-dumping duty on PTA abolished to benefit the textile sector.
Unprecedented Milestones and Achievements of Indian Economy
• India now the fifth largest economy of the world.
• 7.4% average growth clocked during 2014-19 with inflation averaging around 4.5%.
• 271 million people raised out of poverty during 2006-16.
• India’s Foreign Direct Investment elevated to US$ 284 billion during 2014-19 from US$
190 billion during 2009-14.
• Central Government debt reduced to 48.7% of GDP (March 2019) from 52.2% (March
2014).
• Two cross-cutting developments:
o Proliferation of technologies (Analytics, Machine Learning, robotics,
Bioinformatics and Artificial Intelligence).
o Highest ever number of people in the productive age group (15-65 years) in India.
GST removed many bottlenecks in the system.
Future Aim for sustaining India’s unique global leadership, driven by Digital Revolution
• Seamless delivery of services through Digital Governance.
• Improvement in physical quality of life through National Infrastructure Pipeline.
• Risk mitigation through Disaster Resilience.
• Social security through Pension and Insurance penetration.
17. 16
STRUCTURAL REFORMS
Savings of about 4 per cent of monthlyspending for
an average household.
In last 2 years, 60 lakh new taxpayers addedand 105
crore e-way bills generated
GST
20 per cent reduction in turn around time fortrucks.
Benefit to MSMEs through enhanced threshold and
composition limits.
companies.
IBC
Honourable
exit through
IBC for
GOVERNANCE
18. 17
DIGITAL REVOLUTION
INCLUSIVE GROWTH
Governance guided by “Sabka Saath, Sabka Vikas, Sabka
Vishwas” with focus on:
Preventive Healthcare: Provision of sanitation and water
Healthcare: Ayushman Bharat
Clean energy: Ujjawala and Solar Power
Financial Inclusion, Credit support and Pension
Affordable Hosuing
Digital penetration
Shift to DBT
During 2018- 19,
`7 lakh crore
transferred
through DBT.
Next wave
Digital Governance.
Improve physical quality of life through
National Infrastructure Pipeline
Disaster Resilience.
Social Security through Pension and
Insurance penetration.
23. 22
In ` Crore
Expenditureofmajoritems
Ministry of Housing and Urban
Affairs
Rs. 50040
Ministry of RailwaysRs. 72216
Rs. 67112 Ministry of Health and Family Welfare
Rs. 142762 Ministry of Agriculture and Farmers’
Welfare
Rs. 167250 Ministry of HomeAffairs
Rs. 91823
Ministry of Road Transport and
Highways
Rs. 99312
Ministry of Human Resource
Development
Rs. 122398 Ministry of Rural Development
Rs. 124535 Distribution
24. 23
* * * * * * * * * * * * * * * * * * T H E E N D * * * * * * * * * * * * * * * * * * * * * *
Rs. 471378 Ministry of Defence