Tagged: finance minister Nirmala Sitharaman

Budget-2020

Budget 2020: 10 Important Points Of The Budget

Finance Minister Nirmala Sitharaman today presented the Union Budget 2020 with the longest-ever budget speech in Parliament. In the speech, she vowed to boost the income and purchasing power of the people.

Highlights of Union Budget 2020

• The FM in her budget speech reiterated PM Modi’s goal of making India a $5 trillion economy. She said that government would empower people through higher growth and meaningful employment.

• In the move to introduce new tax rates, the FM brought down the income tax outgo for people earning Rs. 15 lakh a year by Rs. 78,000 to Rs. 1,97,000.

• FM announced that the government’s debt had reduced to 48.7% of GDP from 52.2% in March 2014. She also said that fundamentals of the economy were strong.

• FM said that the government aims to bring down the fiscal deficit from 3.8% of the GDP (revised estimate 2019-20) to 3.5% of GDP in the financial year ending March 2021.

• The government assigned a budget of Rs. 2.83 lakh crore for agricultural and rural sectors; Rs. 3.6 lack crore for piped water supply to every … Read the rest

Nirmala-Sitharaman’s-First-budget

Nirmala Sitharaman’s First budget Approved by Cabinet, She talked on employment creation will fast-track

On Friday, The finance minister Nirmala Sitharaman will present budget 2019 today. She is a first woman finance minister, extensively predictable to expand expenditure and run tax relief budget.

She takes over urgencies of Narendra Modi in his second term after the huge success in elections 2019. The budget will talk about many things such as fiscal consolidation, employment boost, NDA, weak consumption, lessening tax collections and many more.

According to economists, the Finance minister has to announce such measure that boosts the growth of the economy by spending much.

Things we can expect in the budget are:

  1. She will lower corporate tax for small entrepreneurs.
  2. India’s GDP slipped to 5.8%, hence it is a primary focus of the budget
  3. She also has to take disinvestment target, the government may raise 5.8% in disinvestment
  4. She takes steps to boost employment and exports
  5. GDP grows up to 7% in years 2019-2020
  6. Focus on boosting consumption and support small businesses
  7. Build public perception

Source: https://bit.ly/2Ywz2mx

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