@ALLIESFIN
Highlights from Budget 2020:
Taxation:
* Taxpayer charter to be instituted in the tax charter, a part of our statutes, to end tax harassment. Tax harassment will not be tolerated, says FM.
* Propose to amend Companies Act to bring criminal liability in certain areas.
* To look at ensuring that contracts are honoured.
* Proposes new National Policy on Official Statistics will improve data collection and dissemination, using tech
Investment:
* NRI will be allowed to investest in certain G-sec
* FPI limit in corporate bonds raised to 15% from 9%.
Banking:
* To save bank depositors, govt increases depositor insurance to Rs 5 lakh from current Rs 1 lakh.
* Encourage PSBs to approach capital markets for fund raising.
* Banking Regulation Act to be amended to strengthen Cooperative banks.
Jobs:
* National recruitment agency: New common entrance test for government non-gazetted jobs and public sector banks.
Infra:
* 5 new Smart cities to be set up via PPP model.
*Rs 1.7 lakh crore allocated to transportation
* 100 more airports to be set up by 2024 to support UDAN scheme
* Accelerated development of highways will be undertaken; Delhi-Mumbai expressway and two other projects to be completed by 2023.
* NHAI to monetize 12 lots of highway bundles of over 6,000 km before 2024.
* Young engineers and management graduates will be roped in for infrastructure projects under Project Preparation Facility.
* National Logistics Policy will soon be released, creating single window e-logistics market
Telecom:
* Rs 6,000 crore for Bharatnet programme; Fibre to Home connections under Bharat Net will be provided to 1 lakh gram panchayats this year itself
* New policy for private sector to build Data Centre Parks.
Tourism:
* 5 archeology sites to be developed for world-class museums
* Rs 2,500 crore for tourism promotion.
Energy:
* National gas grid will be expanded to 27,000 km from 16000 km
* Rs 22,000 crore to power and renewable energy
* FM urges all states and UTs to replace conventional energy meters by pre-paid smart meters in 3 years, this will give consumers the freedom to choose supplier and rate as per their requirements.
* Advise to shut thermal plants if they don't meet emission norms.
* 5 measures for Railways:
*Large solar power capacity to be set up alongside rail tracks, on land owned by Railways
* More Tejas-like trains for tourists.
* Four stations will be redevelopment with the help of PPP model.
* Launches Rs 186, 00 crore worth Bengaluru suburban transport project; 20% equity will be provided be the Centre
* Aspirational India: Agriculture-- 16 action points to aid farmers
* Agriculture market needs to be liberalised; govt proposes to handhold farmers, says FM
* Comprehensive measures for 100 water-stressed districts being proposed
* Govt will help 20 lakh farmers for setting up solar pumps.
* Farm market will to be liberalized.
*PM Kusum scheme will be expanded to 20 lakh farmers.
* Supporting states to focus on one product for one district so as to make way for Horticulture to gain momentum
* Change in incentive scheme for chemical fertilisers. We will encourage balanced use of all fertilizers, a necessary step to change the incentive regime which encourages excessive use of chemical fertilizer
* Will help 15 lakh farmers to set up solar sets.
* Krishi UDAN scheme for agri exports on international and national routes. This will also improve value realization in North East and tribal districts.
* Railways will set up Kisan Rail through PPP arrangement, for transportation of perishable goods.
* For better marketing and export, supporting states will focus on one product for one district, so that high focus is given at district level for horticulture to gain momentum
* Zero Budget farming focus of the government.
* Viability gap funding to be provided for setting up warehouses.
* Financing on Negotiable Warehousing Receipts to be integrated with e- National Agricultural Market
* Rs 2.83 lakh crore allocated to agriculture and irrigation
By: via @AlliesFin Serve T.ME/ALLiESFiN
