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    Published On : Sat, Feb 1st, 2020

    Budget 2020 Big Announcements


    New/amended law to ensure taxpayers are not harassed
    Income tax cut to 10% from 20% for Rs 5-7.5 lakh band
    Income tax cut to 15% from 20% for Rs 7.5-10 lakh band
    Income tax cut to 20% from 30% for Rs 10-12.5 lakh band
    Income tax cut to 25% from 30% for Rs 12.5-15 lakh band
    30% tax rate still applicable for above Rs 15 lakh
    No tax for income up to Rs 5 lakh


    Companies Act to be amended to reconsider criminal liability for acts that are civil in nature


    Tax deferred on employee stock ownership plan for start-ups


    Insurance cover for bank depositors to be raised to Rs 5 lakh from Rs 1 lakh

    Social Welfare

    Rs 85,000 crore for Scheduled Castes and Other Backward Classes


    ‘Kishan Rail’ network to ferry perishable goods faster, will have refrigerated coaches
    ‘Krishi Udan’ flights for farmers to be launched, north-east to benefit


    Rs 69,000 crore allocated for healthcare sector


    More Tejas type trains will connect tourist destinations


    5 new smart cities in public-private partnership mode
    Delhi-Mumbai Expressway to be completed by 2023
    100 more airports to be developed by 2024


    Government will sell part holding in LIC via initial public offering (IPO)

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