Finance Minister Nirmala Sitharaman today presented the Budget for financial year 2020-21 in Lok Sabha. Sitharaman announced cuts in personal income tax, extended tax benefits for affordable housing and gave relief to companies on payment of dividend in the Union Budget as the government looked to boost consumption to bring the economy out of the slowdown. She also introduced multi-billion dollar farmers, infrastructure and healthcare package to revive country's growth. The Finance Minister also emphasised on capacity building and empowerment of marginalised sections of the society.
Budget 2020: Fund allocations announced for FY21:
- Rs. 2.83 lakh crore for agriculture and rural development, down 10 percent vs last year
- Rs. 1.7 lakh crore for transportation, 8 percent increase compaired to last year
- Rs. 69,000 crore for healthcare, 7 percent increase compaired to last year
- Rs. 99,300 crore for education, 4.7 percent increase compaired to last year
- Rs. 1.23 lakh crore for rural development, Panchayati Raj, down 18 percent compaired to last year
- Rs. 1,480 crore for textile mission
- Rs. 27,300 crore for development of Industry & Commerce
- Rs. 22,000 crore to Power & Renewable sector
- Rs. 6,000 crore for BharatNet program
- Rs. 8,000 crore over 5 years for National Mission on Quantum Technology
- Rs. 35,600 crore for nutrition-related plans
- Rs. 12,300 crore for Swachh Bharat Mission
- Rs. 3.6 lakh crore for Jal Jivan Mission
- Rs. 28,600 crore for women-centric programmes.
- Rs. 85,000 crore for Scheduled Castes and OBCs.
- Rs. 53,700 crore for Scheduled Tribes
- Rs. 9,500 crore for senior citizens and handicapped
- Rs. 3,100 crore for Ministry of Culture
- Rs. 2,500 crore for tourism promotion
- Rs. 4,400 crore for clean air
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