20 key Budget highlights you must know
Story highlights
The finance minister reiterated that tax harassment cannot be tolerated, as often it is the wealth generators who end up getting harassed.
Finance minister Nirmala Sitharaman proposed the introduction of a taxpayers' charter in the income tax act.
It has been done to ensure harassment of taxpayers by income tax officials does not take place.
The finance minister reiterated that tax harassment cannot be tolerated, as often it is the wealth generators who end up getting harassed.
Certain offences under the companies act will not be decriminalised, and other laws are being examined to make corrections.
Key highlights of Budget 2020:
Mega 16-point action plan for farmers
India now fifth largest economy globally, says Sitharaman
Rs 12,300 crore allocated for Swachh Bharat mission this year
India uplifted 271 million people out of poverty: Sitharaman
60 lakh taxpayers added in the last 2 years
Anti-TB campaign to be launched to eliminate TB by 2025
100 more airports to be developed by 2024
Rs 69,000 crore allocated for the healthcare sector
More Tejas-type trains to connect tourist destinations
Rs 85,000 crore allocated for the employment of Scheduled Tribes
Rs 100 crore set aside for culture ministry
Rs 4,400 crore dedicated for clean air projects
Taxpayers' charter to be institutionalized
Ayushman Bharat hospitals in 100 more districts
Rs 100 crore to be allocated for G20 preparations
Industrial Development Bank of India(IDBI) to be disinvested
LIC disinvestment to take place
Government slashes tax rates
I-T rates slashed to 10 per cent for those earning between Rs 5-7.5 lakh
I-T rates slashed to 15 per cent for those earning between Rs 7.5-10 lakh