* This is the Budget for increasing the Income & Purchasing power of Indians
* Fiscal Deficit seen at 3.8% vs 3.3% target 2019-20. *Target seen at 3.5%*
* GDP seen at 10% nominal Growth as compare to current year. It might be in the range of 5% to 5.5% some where
* Govt will raise the funds through *LIC stake sale via IPO*
* Expenditure estimated at Rs.26.99 lakh crores. Total Expenditure at Rs.30.42 lakh crs
* Receipts estimated at Rs.19. lakh crs
* Net Market Borrowing target Rs.4.99 lakh crores
* 60 lac new Tax Payers added via GST introduction
* Committed to Doubling farmers income by 2022
* 6.11 Cr farmers insured under "PM FASAL BIMA YOJANA"
* Rs.2.83 lakh crs allocated for agriculture and irrigation
* Agri credit target at Rs.15 lakh crs
* Rs.1.23 lakh crs allocated for Rural Development
* Rs.12300 crs allocated for Swach Bharat Mission
* Rs.3.6 lakh crs allocated for Jal Jivan Mission
* Rs.69000 crs allocated for Health Sector
* Rs.99300 crs allocated for Education sector. Rs.3000 crs to be for Skilled Segment
* Rs.6000 crs allocated for BharatNet Program. Approx 1 lac Gram Panchayat will be linked under BharatNet
* Rs.27300 crs for development of Industry & commerce
* Rs.35600 crs allocated for Nutrition related plans
* Rs.1480 crs allocated for Textile Mission
* Expand Gas Grid to 27000 kms
* Rs.18600 crs Bengaluru Suburban Transportation Project
* 100 more Airport till 2024 under Udaan Project
* Rs.1.7 lakh crs allocated for Transportation
* Rs.22000 crs allocated for Power and Renewable Sector
* Rs.85000 crs for Schedule Caste & OBC
* Rs.53700 crs allocated for Schedule Tribs
* Rs.3100 crs allocated for Ministry of Culture
* Rs.2500 crs allocated for Tourism Promotion
* Rs.28600 crs allocated Women centric programs
* Rs.9500 crs allocated for Sr. Citizen and Handicapped
* Rs.4400 crs allocated for clean Air
* Deposit Insurance coverage increases to 5 lakh from 1 lakh
* Rs.22000 crs for National Infra Pipeline
*Direct Tax*
*Changes in Income Tax slabs*
- if having income 5 lakh then no Tax is applicable
*Income More then 5 lakh has following rates*
- 0 to 2.5 lakh - Nil
- 2.5 lakh above to 5 lakh - 5%
- 5 lakh above to 7.5 lakh - 10%
- 7.5 lakh above to 10 lakh - 15%
- 10 lakh above to 12.5 lakh - 20%
- 12.5 lakh above to 15 lakh -25%
- above 15 lakh - 30%
*Dividend Distribution Tax*
- Abolish of DDT. Company will not pay tax on the dividend declared only receipent has to pay the same
* FPI investments in Infra Bonds (Sovereign Wealth Funds) with 3yrs lock no Tax on Dividend and capital Gains investments upto 31st March 2024
* Audit limit of Businesses increased from *1 cr to 5 crs*
* *Disinvestment* Targeted at Rs. 2.1lakh crs
- *80C limit* no changes it is upto 1.5 lakh only.
* Approx 70 items removed out of 100 for Tax exemption
*No Changes in LTCG*
