| Sihtaraman's Budget. |
 | Finance Minister Nirmala Sitharaman slashed taxes for individuals and widened budget deficit targets for the current and next fiscal years to help spur a slowing economy |
| The government will miss its deficit goals for a third year, pushing the shortfall to 3.8 per cent of gross domestic product from a planned 3.3 per cent in the year ending March. The deficit target for the coming fiscal year starting April 1 was widened to 3.5 per cent |
| Personal income tax rates for individuals were lowered as part of a goal to boost consumption in an economy that's set to grow 5 per cent this fiscal year. Companies will no longer be required to pay Dividend Distribution Tax (DDT). |
| Budget allots Rs 2.83 lakh crore for agriculture and allied activities, proposes 11 per cent increase in farm credit target to Rs 15 lakh crore for 2020-21 |
| Government to sell part of its stake in Life Insurance Corporation via public offering |
| Bank deposit insurance cover increased from Rs 1 lakh to Rs 5 lakh per depositor |
| Budget allots Rs 69,000 crore for the health sector, proposes to set up hospitals in small cities with private sector participation |
| Budget allots Rs 99,300 crore for education in 2021 and about Rs 3,000 crore for skill development |
| Budget proposes to allot Rs 1.7 lakh crore for transport infrastructure in 2021, says national Logistics Policy to be released soon |
| FM Sitharaman says the theme of her Budget is "aspirational India, economic development (for all) and building a caring society" |
| Read more Highlights |
No comments:
Post a Comment