Highlights of Union Budget 2020

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Budget Highlights 2020

Union Budget 2020 is presented by Finance Minister Nirmala Sitharaman in the Parliament. This is her full time
Budget Presentation. The Budget Highlights 2020 is focused on 3 major themes- Aspirational India, Economic
Development for all & Caring Society.
Here are the key highlights of Union Budget 2020:

Theme1: Aspirational India

Agriculture Sector:
 Aimed at Doubling Farmer Income by 2022
 The horticulture sector has exceeded the production of food grains by around 311 million metric tons of
production. The government will help those states that work for ‘one product, one district’.
 Kisan Rail and Krishi Udaan Scheme to be launched by Indian Railways and Ministry of Civil Aviation
respectively for seamless national cold supply chain for perishables.
 Agricultural Credit target of Rs15 lakh crore for 2020-21
 Integrated Farming Systems to be developed in rain-fed areas
 All beneficiaries of PM Kisan scheme will now be covered under the Kisan Credit Card (KCC) scheme.

Education:
 As per the budget, 150 higher education institutions will start apprenticeships in 2020-21.
 It proposes to Setup National Policy University and National Forensic Science University
 A degree level online education programme will be launched to provide quality education to deprived sections
students.
 INDSAT Exam will be conducted in Asian and African Countries under the study in India Programme
 The Budget allocates Rs 99,300 crore for the Education Sector and Rs 3000 crore for Skill development

Wellness, water and Sanitation:

 Budget allocated Rs 69000 crore for the Health sector and Rs 12,300 crore for Swachh Bharat Mission
 Budget seeks to set up hospitals in Indian Tier- II and Tier- III cities under the PPP model
 Jan Aushadhi Kendra will be explained.
 Budget talks about the “Fit India Movement” in the context of India’s fight against the NCDs- non
communicable diseases.

Theme2: Economic Development

 Allocates Rs 27,300 crore for development of Industry and Commerce in 2020-21
 NIRVIK scheme announced for fewer duties and taxes on exported products. The scheme will be launched in
2020-21
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 Highlights of Union Budget 2020

 A new scheme proposed in electronics manufacturing to spur investments.

 National Infrastructure Pipeline to offer employment opportunity
 Proposes to build the Chennai- Bengaluru Highway
 Budget proposes to make each district an export hub

Infrastructure:
 National logistics policy to be launched soon
 Corporatizing atleast one major port
 Accelerated Development of Highways
 Four station Redevelopment projects. 150 Passenger Trains through PPP mode. More Tejas type trains for
Tourist destinations.
 By 2024, the Government would monetize 12 lots of national highways
 With the help of UDAN scheme, 100 airports will be built by 2024
 The fleet of Aircraft will be increased to 1200 planes by 2024
 Rs 1.7 lakh crore allocated for transport infrastructure

New Economy:
 National Mission on Quantum Technologies and Applications with an Outlay of Rs 8000 crore proposed
 Scaling up of Technology clusters harbouring test beds and small scale manufacturing facilities
 Knowledge Translation Clusters for emerging technology sectors

Energy Sector:
 Budget allocates Rs 22,000 crore for the Power and Renewable Energy Sector.
 Budget allocates Rs 6000 crore for the Bharat Net programme. Bharat Net to link 1 lakh gram panchayats
through Fibre to Home connections
 The National Gas Grid will be expanded from16200 km to 27000 km
 It provides Rs.8,000 crore in the next 5 years for “National Mission on Quantum Technology and
Applications”.
 Prepaid Smart Meters: States will have to replace existing energy meters with the prepaid smart meters.

Theme3: Caring Society

 For development of SCs and OBCs- Rs 85000 crore
 For Development of STs- Rs 53700 crore
 For senior citizens and persons with disablilities- Rs9000 crore
 For Nutrition Related programmes- Rs 35600 crore

Tourism Sector:
 The Tourism Sector will grow at 7.8% to Rs 1.88 lakh crore.
 A museum on Numismatics and Trade to be established
 Tribal Museum in Ranchi
 Maritime Museum to be set up at Lothal

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 Highlights of Union Budget 2020

Finance:
 For recruitment in non-gazetted posts in banks, National Recruitment Agency will be constituted for both
government and public sector banks.
 Disinvestment in Banks: Government’s share in IDBI Bank will be sold to the private sector.
 Deposit Insurance Coverage to increase from Rs1 lakh to Rs5 lakh per Depositor
 Eligibility limit for NBFC for Debt Recovery under SARFAESI Act proposed to be reduced to asset size of
Rs 100 crore or loan Size of Rs 50 lakh
 Seperation of NPS Trust for Government employees from PFRDAI

MSME& Corporate Sector:

 The FPI Limit in Corporate bond has increased to 15%.
 New Debt ETF proposed mainly for Government Securities
 The debt recast window of MSME is extended by one year to March 31, 2021.
 Specified Categories of government securities would be opened for Non resident Investors

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