The major change in income tax slabs
- Those earning up to 5-7.5 lakhs will now have to pay a 10% tax.
- Those earning from 7.5 to 10 lakh will have to pay only a 15 percent tax.
- -10-12.5 lakh earners will now have to pay 20 percent tax.
- – Those earning from 12 to 15 lakhs will have to pay 25 percent
- earning more than 1.5 million will be taxed more than 30 percent.
- Those earning up to -5 lakhs will not have to pay any tax.
The tax has been reduced to 15% for corporate companies. Due to this, we have suffered a large revenue loss. We are confident that this will create new jobs. The collection of tax reaches people with manifold benefits.
The total expenditure in 2019-20 was 26.99 lakh crore. Nominal growth is expected to be 10 percent in 2020-21, according to current trends. Estimated to receive 22.24 lakh crore rupees next year, total expenditure estimated to be 30 lakh crore rupees.
The government will sell some of its stake in LIC. Government will sell its stake through an IPO. The government will also sell its stake in IDBI Bank.
-The 15th Finance Commission has given its first report for 2020-21. We have accepted the advice of this commission. It will be implemented for the next 5 years from 2020-21.
Fiscal deficit estimated at 3.8 percent of GDP this year. The target of 3.5 percent for next year.
– Scheme to introduce a better pension scheme for job seekers.
-Bankers’ money is completely safe. Proposal to increase the depositor’s insurance amount from 1 lakh to 5 lakh. That is, if the bank gets submerged, deposits of up to 5 lakh will be returned.
-10 are changing national banks into 4 banks. Efforts will be made to make them competitive. They can raise additional capital from the stock market.
-30,757 crores are proposed for Jammu and Kashmir. More than Rs 5958 crore is allocated for Ladakh.
The G20 will be hosted in India in 2020. During this time India will speak on the global economic agenda. An allocation of Rs 100 crore is being made for this.
– Non-gazetted posts are being reviewed for appointment in banks. A national recruitment agency will be created so that a common recruitment test for the non-gazetted posts can be taken online and it will be established in every district.
-Tax Administration Charter to be created. A taxpayer’s charter will be created so that the trust of the taxpayers is maintained. We are going to take such steps, which do not face any kind of trouble. Strict laws will be made for tax evaders.
The government trusts every citizen. The government is watching every elderly and farmer.
Finance Minister Nirmala compared 5 decisions of PM through the poem by Thiruvallur. She said that as Thiruvallur talked about 5 jewels for the country. Similarly, PM Modi has taken many measures for health, prosperity, security, and farmers.
4,400 crore is being allocated in 2020-21 to avoid pollution and clean air.
A scheduled tribe museum will be set up in Ranchi, the capital of Jharkhand. A sea museum will be built in Ahmedabad.
– Five archaeological sites will be built museums. These museums will be built in Hastinapur, Sivasagar, Dolavira, Adichelannur, Rakhigadi. 2,500 crore budget for tourism.
– Hand cleaning of sewer in the country will end. Beti Bachao, Beti Padhao’s results have been impressive.
-2020-21 Proposal for 85 thousand crore rupees for Scheduled Castes and OBCs. Budget proposal of Rs 53 thousand 700 crores for Scheduled Tribes. 9,500 crore has been proposed for the differently-abled and the elderly.
– Meters will be fitted with smart meters, there will be freedom to choose electricity company. I urge all the States and Union Territories to replace old meters with prepaid smart meters in the next 3 years. Through this, consumers can choose the company and the rate according to their convenience. This is an important step towards giving electricity to all. 22,000 crore rupees for power and renewable energy are being proposed for a change in discoms.
-150 passenger trains will be run in PPP mode. Trains like this will be run by Tejas. The high-speed train will be implemented between Mumbai and Ahmedabad. Unmanned railway crossings have been dismantled. Wi-Fi has been introduced at 550 stations. A solar power center will be built on the vacant land of the railway. The tourist destination will be connected through new trains like Tejas. There will be the electrification of 27 thousand kilometer track.
-PM has said that there will be an investment of Rs 100 lakh crore in the next five years on infrastructure. There will be an investment in areas such as housing, clean water, healthcare, educational institutions, railway stations, airports, warehousing, irrigation.
There is a need to pursue domestic manufacturing in India. Efforts are being made to increase domestic manufacturing. Special assistance will be given for making mobile and electronic equipment.
-5 new smart cities will be built. The public and private sectors will make it together.
-99,300 crore is proposed to be given to the education sector. 3000 crore rupees have been given for skill development.
-Mission Rainbow has 12 new diseases added and will add 5 new vaccines. TB will lose and the country will win. This campaign has been launched. The government will strengthen this campaign further. There is a plan to eradicate TB from the country by 2025. 20 thousand hospitals from Ayushman Bharat scheme