Union Finance Minister Nirmala Sitharaman gave her longest speech on Budget 2020 in the parliament explaining and clarifying every nook and cranny of the Union Budget.
Government allocated Rupees 4,400 crores for clean air initiatives in Union Budget 2020. "Clean air is a matter of concern in large cities, propose to encourage states to formulate and implement plans to ensure clean air. Allocation for this purpose is Rs 4,400 crores," said Nirmala Sitharaman while presenting the Union Budget 2020. FM said government will stick to commitments of Paris Climate Accord.
Slamming budget 2020, Shiv Sena leader Kishore Tiwari termed finance minister Nirmala Sitharaman's 16-point action plan for agriculture in Budget just an eyewash.
Delhi Chief Minister Arvind Kejriwal has said that Delhi was having high expectations from Budget 2020 as Finance Minister Nirmala Sitharaman presented it in the parliament but once meted out with step-motherly treatment.
Union Finance Minister Nirmala Sitharaman on Saturday said that the work on Prime Minister Narendra Modi's ambitious 508-km Ahmedabad-Mumbai High Speed train project will be actively pursued and also said that it will set up 'Kisan Rail' through public private partnership (PPP) for transportation of perishable goods.
Budget 2020 updates: Finance Minister Nirmala Sitharaman on Saturday presented her second union budget with a vision to revive the economy. The biggest take away from her budget speech is the introduction of new income tax regime which will be a major relief for the middle class.
Budget 2020: As the Budget presentation comes amid an economic slowdown, expectations are high that the Union budget could provide the much-needed boost or balm-propel investments and demand and, most importantly, lift sentiment.
The Economic Survey 2019-2020 has pointed out high drop out rates at various levels of schooling and lack of affordability in higher education as areas of concern.
Congress spokesperson Gourav Vallabh has hit out at the government saying, "In the last 5.5 years, the country's debt has shown an increasing trend in terms of absolute amount. In March 2014, the total debt was Rs 53.11 lakh crore, whereas in September 2019 the same has increased to Rs 91.01 lakh crore."
Union Finance Minister Nirmala Sitharaman has said the kind of cleaning in the system that the BJP-led government had to carry out after coming to power in 2014 was "unbelievable".
Union Budget 2020-2021 will be presented by Finance Minister Nirmala Sitharaman on February 1 as the first phase of budget session will commence from January 31 and remain effective till February 11
She said that while she was meeting states regarding GST compensation issue, "there was a confusion", that Nirmala Sitharaman has withdrawn from a GoM.
The Minister also told MPs the government has also decided to import to procure from the open market of countries with a surplus and from onion-growing regions. She further added steps are being taken for distribution of the onion through open mandis auction .
Sitharaman clarified that the objective to reduce corporate tax is only to attract investment, stimulate growth and also to create job opportunities.
"What is the problem in the country today? Poor demand. Supply is not the problem. But what did she do? She relaxes taxes for corporates. Corporates are flushed with supply. They will just use it," Swamy said.
"Every step being taken is in the interest of the country... looking at the economy with discerning view, you see that the growth may have come down, but its not a recession yet or it won't be recession ever," finance minister Nirmala Sitharaman said.
The government was making efforts to ensure more regulatory mechanism in the banking sector to benefit bank account-holders, she said in the context of the PMC Bank and IL&FS issues.
In a written reply, Sitharaman said India's economic growth decelerated but its economy is still the fastest growing among G-20 nations and that the goal of $5 trillion economy will be achieved by 2025.
Sitharaman asked NABARD chairman H S Bhanwala to visit Jammu & Kashmir and ensure that farmers there get fair value for premium crops such as apples, saffron, peaches and walnuts grown in the Valley and that the farm produce from the region reaches all parts of the country.
The event was attended by the officers passing out as the 69th batch of IRS (Customs and Central Excise), along with their family members. The proceedings began and a few children in the audience were heard crying, while some talked on, even as the parents tried hard to calm them
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