Union Budget 2020-21: Highlights And Allocations 

NEW DELHI: Finance Minister Nirmala Sitharaman, while presenting the Budget in Parliament on Saturday, said people of India have unequivocally given jan-aadesh (mandate) for not just political stability but also reposed faith in the government's economic policies.

Here are the highlights from the Union Budget 2020-21:

Allocations Agriculture and allied activities, irrigation and rural development: Rs 2.83 lakh croreSwachh Bharat: Rs 12,300 croreJal Jeevan: Rs 3.6 lakh croreHealth: Additional Rs 69,000 crEducation: Rs 99,300 croreSkill development: Rs 3,000 croreNational Technical Textiles Mission to be introduced, with a four-year implementation period: Rs 1,480 croreIndustry and commerce: Rs 27,300 croreTransport infrastructure: Rs 1.7 lakh crorePower and renewable energy sector: Rs 22,000 croreQuantum technologies and applications: Rs 8,000 croreNutrition-related programmes: Rs 35,600 croreWomen-related programmes: Rs 28,600 croreScheduled Castes and Other Backward Classes: Rs 85,000 croreScheduled Tribes: Rs 53,700 croreEnhanced allocation of 9,500 crore rupees for Senior citizens and DivyangsMinistry of Culture: Rs 3,150 croreTourism: Rs 2,500 croreClean air: Rs 4,400 croreG20 Presidency in 2022: Rs 100 croreUnion Territory of Jammu & Kashmir: Rs 30,757 croreUnion Territory of Ladakh: Rs 5,958 croreNational Infrastructure Pipeline: Rs 22,000 crore

Accordingly, receipts for 2020-21 estimated at 22.46 lakh crore rupees, and expenditure at 30.42 lakh crore rupees

HIGHLIGHTSBanking sector reformsDICGC has been permitted to increase Deposit Insurance Coverage for a depositor from Rs 1 lakh to Rs 5 lakh per depositor.Amendments in Banking regulation Act to strengthen Cooperative Banks.Proposal to sell balance holding of the government of India IDBI Bank to private investors.Recovery eligibility limit for NBFCs reduced to asset size of 100 crore or loan size of 50 lakh. Culture and Tourism Five archaeological sites would be developed as iconic sites with on-site museums - Rakhigarhi, Hastinapur, Shivsagar, Dholavira, and Adichanallur.Indian Institute of Heritage and ConservationMuseum of Numismatics and tradeTribal museum in RanchiMaritime Museum in LothalTax:A new tax regime has been proposed. However, those who wish to continue to pay old rates may do so.Income Between Rs 5 lakh to Rs 7.5 lakh: Reduced to 10% from the current 20%Between Rs 7.5 lakh to Rs 10 lakh: Reduced to 15% from the current 20%Between Rs 10 lakh to Rs 12.5 lakh: Reduced to 20% from the current 30%Between Rs 12.5 lakh to Rs 15 lakh: Reduced to 25% from the current 30%Above ₹15 lakh: Continue at 30%, but without exemptionsAgricultureBudget allocation of Rs 2.83 lakh crore for agriculture and allied activities.Doubling farmers incomes by 2020.Krishi Udaan under Ministry of Civil Avaition on international and national routes to benefit farmers

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