Objectives of the Budget:
Theme of the Budget:
The agenda of ease of living for the citizens aimed to be achieved by the following pillars:
Sector Wise Major Proposals and Allocation-
Aspirational India
Agriculture, Irrigation and Rural development:
Wellness, Water and Sanitation:
Education and Skills:
Economic Development
Industry, Commerce and Investment:
Infrastructure:
New Economy:
Caring Society
Women & Child, Social Welfare
Culture & Tourism
Environment & Climate Change
The Complete Fiscal Outlay of Union Budget 2020-21
Fiscal Management:
- Estimation of nominal growth at 10% for year 2020-21.
- Receipts for the year 2020-21 has been estimated at INR 22.46 lakh crore and level of expenditure has been kept at INR 30.42 lakh crore for fulfilling the commitment of the Government towards various schemes.
- Fiscal Deficit has been estimated 3.5% for 2020-21.
- Net Market Borrowing for the year 2020-21 are expected to be INR 5.36 lakh crore.
- Moreover, decision has been taken for transferring the GST Compensation Fund balances due out of collection of the years 2016-17 and 2017-18, in two instalments.
The announced policies and initiatives on the mentioned sectors can only be achieved through the strong Taxation, effective Governance and sound Financial system.
Lets’ have a look at the Union budget announcement on these important factors.
Taxation:
Proposed Direct Tax Rates in the Union Budget 2020-21
Major Proposals on Direct and Indirect Tax:
Governance:
Financial Management & Disinvestment:
