{"id":53507,"date":"2020-02-01T11:22:23","date_gmt":"2020-02-01T05:52:23","guid":{"rendered":"https:\/\/www.oliveboard.in\/blog\/?p=53507"},"modified":"2021-02-11T19:33:51","modified_gmt":"2021-02-11T14:03:51","slug":"budget-2020-live","status":"publish","type":"post","link":"https:\/\/www.oliveboard.in\/blog\/budget-2020-live\/","title":{"rendered":"Union Budget 2020 Live Updates &#038; Key Highlights"},"content":{"rendered":"<p style=\"text-align: justify;\"><span style=\"color: #000000;\">The Finance Minister, Smt. Nirmala Sitharaman presents the Union Budget for the fiscal year 2020-21 in the Parliament on 1 February 2020 and here we are with the Union Budget 2020 Live updates.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">In Modi 2.0 government&#8217;s second Budget, FM Sitharaman will outline measures to spur spending in rural areas and lower tax burden for individuals, home buyers, and equity market investors. Budget 2020 to focus on wealth creation. This Budget is to boost income and purchasing power.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Union Budget 2020 facts and figure will be extremely important for all the upcoming exams in 2020 such as \u00a0<span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/sbi-po\/?ref=dj\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>SBI PO<\/strong><\/a><\/span>\u00a0and <strong><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/sbi-clerk\/?ref=dj\" target=\"_blank\" rel=\"noopener noreferrer\">Cler<\/a><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/sbi-clerk\/?ref=dj\" target=\"_blank\" rel=\"noopener noreferrer\">k<\/a><\/span><\/strong>,\u00a0<strong>IBPS PO<\/strong>\u00a0and\u00a0Clerk,\u00a0<strong>RBI Grade B\u00a0Officer<\/strong>\u00a0and\u00a0Assistant,\u00a0<strong><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/ssc-cgl\/?ref=dj\" target=\"_blank\" rel=\"noopener noreferrer\">SSC CGL<\/a><\/span>,<\/strong>\u00a0<strong><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/ssc-chsl\/?ref=dj\" target=\"_blank\" rel=\"noopener noreferrer\">SSC CHSL<\/a><\/span><\/strong>, <strong><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/ssc-cpo\/?ref=dj\" target=\"_blank\" rel=\"noopener noreferrer\">SSC CPO<\/a><\/span><\/strong>,\u00a0<strong>IBPS RRB PO,<\/strong>\u00a0<strong>Railways RRB<\/strong>,\u00a0<strong>SEBI\u00a0<\/strong>and more. <\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Check the key highlights of Budget 2020-21 and make notes for revision.<\/span><\/p>\n<p class=\"gdlr-page-title\"><em><span style=\"color: #000000;\"><strong>50 Most Expected MCQs on Union Budget 2020: <a href=\"https:\/\/www.oliveboard.in\/blog\/budget-questions\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"color: #3366ff;\">SOLVE HERE<\/span><\/a><\/strong><\/span><\/em><\/p>\n<h2><span style=\"color: #000000;\"><strong>Union Budget 2020 Live Updates<\/strong><strong>: Key Highlights<\/strong><\/span><\/h2>\n<h3><span style=\"color: #000000;\"><strong>Budget 2020-21 Theme:\u00a0<\/strong><\/span><\/h3>\n<ul>\n<li><span style=\"color: #000000;\"><em><b>\u00a0Aspirational India to boost the standard of living<\/b><\/em><\/span><\/li>\n<li><span style=\"color: #000000;\"><em><b>Economic development for all<\/b><\/em><\/span><\/li>\n<li><span style=\"color: #000000;\"><em><b>Building a humane and compassionate society<\/b><\/em><\/span><\/li>\n<\/ul>\n<h3><span style=\"color: #000000;\"><strong>Economy<\/strong><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">India is all set to become a $5 trillion economy by the end of 2024 through enterprise, exports, ease of doing business and more.<\/span><\/p>\n<h3><span style=\"color: #000000;\"><strong>New Economy<\/strong><\/span><\/h3>\n<ul>\n<li><span style=\"color: #000000;\">Government proposes to provide Rs 6000 crore to Bharat net program in 2021.<\/span><\/li>\n<li><span style=\"color: #000000;\">Fibre to home connections through Bharatnet will link 1,00,000 gram panchayats this year.<\/span><\/li>\n<\/ul>\n<p><strong><em>Solve Important Economy Questions\u21d2 <span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/bank-exams\/?ref=dj\" target=\"_blank\" rel=\"noopener noreferrer\">HERE<\/a><\/span><\/em><\/strong><\/p>\n<h3><span style=\"color: #000000;\"><strong>Tax<\/strong><\/span><\/h3>\n<ul>\n<li><span style=\"color: #000000;\">The number game: Nominal GDP growth for FY21 revised to 10%.<\/span><\/li>\n<li><span style=\"color: #000000;\">\u00a0FY21 fiscal deficit target pegged at 3.5% of GDP.<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"color: #000000;\">The government proposes &#8216;Vivad se Vishwas&#8217; scheme for direct taxpayers whose appeals are pending at various forums.<\/span><\/li>\n<li><span style=\"color: #000000;\"><strong>\u00a0New simplified personal income tax regime<\/strong><\/span><\/li>\n<\/ul>\n<ol>\n<li><span style=\"color: #000000;\"><em>Those earning up to Rs 5 lakhs are exempt from paying taxes<\/em><\/span><\/li>\n<li><span style=\"color: #000000;\"><em>\u00a0People with income of Rs 5 lakhs to Rs 7.5 lakhs will have to pay 10% tax<\/em><\/span><\/li>\n<li><span style=\"color: #000000;\"><em>Income between Rs 7.5 lakh to 10 lakh will pay taxes of 15%.<\/em><\/span><\/li>\n<li><span style=\"color: #000000;\"><em>Income between Rs 10 lakh to 12.5 lakh will pay taxes of 20%.<\/em><\/span><\/li>\n<li><span style=\"color: #000000;\"><em>Income between 12.5 lakh to 15 lakh will pay taxes of 25%.<\/em><\/span><\/li>\n<li><span style=\"color: #000000;\"><em>Tax rate of 30% on income above Rs 15 lakh will be continued.<\/em><\/span><\/li>\n<\/ol>\n<ul>\n<li><span style=\"color: #000000;\">Concessional tax rate of 15% extended to power generation companies.<\/span><\/li>\n<li><span style=\"color: #000000;\">Govt proposes 100% tax concession to sovereign wealth funds on investment in infra projects.<\/span><\/li>\n<li><span style=\"color: #000000;\">In a boost to MSMSEs, turnover threshold for audit raised to Rs 5 crore from Rs 1 crore.<\/span><\/li>\n<li><span style=\"color: #000000;\">Custom duty raised on footwear and furniture.<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"color: #000000;\">Tax on Cooperative societies proposed to be reduced to 22 percent plus surcharge and cess, as against 30 percent at present.<\/span><\/li>\n<li><span style=\"color: #000000;\">Dividend Distribution Tax shifted to individuals instead of companies.<\/span><\/li>\n<li><span style=\"color: #000000;\">Concessional tax rate of 15% extended to power generation companies.<\/span><\/li>\n<\/ul>\n<p><em><strong>Want to know probable tax questions? <a href=\"https:\/\/www.oliveboard.in\/bank-exams\/?ref=dj\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"color: #3366ff;\">Take A Free Test Here<\/span><\/a><\/strong><\/em><\/p>\n<div class=\"highlight_share\">\n<h3 class=\"blog-multi-desc\"><span style=\"color: #000000;\"><strong>Agriculture<\/strong><\/span><\/h3>\n<ul>\n<li><span style=\"color: #000000;\">The goal of government is to double farmers&#8217; income by 2022.<\/span><\/li>\n<li><span style=\"color: #000000;\">Government to help 15 lakh farmers solarize their grid-connected pump sets.<\/span><\/li>\n<li><span style=\"color: #000000;\">Government&#8217;s to promote the use of solar energy in the farming sector.<\/span><\/li>\n<li><span style=\"color: #000000;\">Government Will set up Kisan rail so that goods can be quickly transported across the country.<\/span><\/li>\n<li><span style=\"color: #000000;\">Comprehensive measures for 100 water-stressed districts being proposed.<\/span><\/li>\n<li><span style=\"color: #000000;\">Beneficiaries of PM Kisan Yojana to be covered under Kisan Credit Card.<\/span><\/li>\n<li><span style=\"color: #000000;\">NABARD Re-finance scheme will be expanded.<\/span><\/li>\n<li><span style=\"color: #000000;\">Agriculture credit target set at Rs 15 lakh crore.<\/span><\/li>\n<li><span style=\"color: #000000;\">Village storage scheme by SHG (Self-help groups).<\/span><\/li>\n<li><span style=\"color: #000000;\">To expand fish production capacity to 200 lakh tonnes.<\/span><\/li>\n<li><span style=\"color: #000000;\">Coverage of artificial insemination to be increased from 30% to 70%.<\/span><\/li>\n<li><span style=\"color: #000000;\">Allocation of Rs 2.83 lakh crores given to Irrigation and Rural Development.<\/span><\/li>\n<li><span style=\"color: #000000;\">Youth to be involved through 3477 Sagar Mitras, 500 fish farmer producer organization.<\/span><\/li>\n<li><span style=\"color: #000000;\">Rural Development and Panchayat Raj gets Rs 1.23 lakh crores.<\/span><\/li>\n<li><span style=\"color: #000000;\">Civil Aviation Ministry to launch &#8220;KRISHI UDAAN&#8221; for exports.<\/span><\/li>\n<li><span style=\"color: #000000;\">MGNREGA to be used to develop fodder farms.<\/span><\/li>\n<\/ul>\n<h3><span style=\"color: #000000;\"><strong>Health Care<\/strong><\/span><\/h3>\n<ul>\n<li><span style=\"color: #000000;\">Rs 69,000 crore has been allocated for the health care sector.<\/span><\/li>\n<li><span style=\"color: #000000;\">Government to expand mission Indradhanush.<\/span><\/li>\n<\/ul>\n<h3><span style=\"color: #000000;\"><strong>Education<\/strong><\/span><\/h3>\n<ul>\n<li><span style=\"color: #000000;\">Rs 99,300 crore for the education sector for FY21<\/span><\/li>\n<li><span style=\"color: #000000;\">Government to allocate Rs 3,000 crore for skill development.<\/span><\/li>\n<li><span style=\"color: #000000;\">Study in India Programme to be launched.<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"color: #000000;\">Govt proposes to start a program for urban local bodies to provide opportunities for internships to young engineers.<\/span><\/li>\n<li><span style=\"color: #000000;\">Govt proposes National Police University and National Forensic University.<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"color: #000000;\">Government announces the introduction of &#8216;Ind-SAT&#8217;, an exam for Asian and African countries to help make India a higher education destination.<\/span><\/li>\n<\/ul>\n<h3><span style=\"color: #000000;\"><strong>MSME<\/strong><\/span><\/h3>\n<ul>\n<li><span style=\"color: #000000;\">The government proposes amendments to Factor Regulation Act 2011.<\/span><\/li>\n<li><span style=\"color: #000000;\">Amendments to enable NBFCs to extend invoice financing to MSMEs through TReDS.<\/span><\/li>\n<li><span style=\"color: #000000;\">Subordinate debt to be provided by banks to count as quasi-equity.<\/span><\/li>\n<li><span style=\"color: #000000;\">Subordinate debt would be fully guaranteed through CGTMSE and CGTMSE corpus to be governed by the government.<\/span><\/li>\n<li><span style=\"color: #000000;\">App-based invoice financing loans to be launched.<\/span><\/li>\n<li><span style=\"color: #000000;\">Scheme of Rs 1000 crore will be anchored by EXIM Bank together with SIDBI.<\/span><\/li>\n<\/ul>\n<h3><span style=\"color: #000000;\"><strong>Water and Sanitation<\/strong><\/span><\/h3>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"color: #000000;\">A very focused safe water &#8216;Jal Jeevan Mission&#8217; and sanitation program &#8216;Swachh Bharat Yojna&#8217; have been launched to tackle health concerns.<\/span><\/li>\n<li><span style=\"color: #000000;\">Government approves Rs 3.60 lakh crore for Jal Jeevan Mission.<\/span><\/li>\n<\/ul>\n<h3><span style=\"color: #000000;\"><strong>Industry and Commerce<\/strong><\/span><\/h3>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"color: #000000;\">Government proposes Rs 27,300 crore for the development and promotion of industry and commerce in 2020-21<\/span><\/li>\n<\/ul>\n<h3><span style=\"color: #000000;\"><strong>Manufacturing<\/strong><\/span><\/h3>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"color: #000000;\">Government proposes a scheme focused on encouraging the manufacturing of mobile phones and electrical equipment.<\/span><\/li>\n<\/ul>\n<h3><span style=\"color: #000000;\"><strong>Technology<\/strong><\/span><\/h3>\n<ul>\n<li><span style=\"color: #000000;\">An allocation of Rs 8,000 crore for National Mission on Quantum Computing and Technology.<\/span><\/li>\n<li><span style=\"color: #000000;\">Government to bring new policy to enable the private sector to build data center parks.<\/span><\/li>\n<\/ul>\n<h3><span style=\"color: #000000;\"><strong>Welfares Schemes<\/strong><\/span><\/h3>\n<ul>\n<li><span style=\"color: #000000;\">Govt provides Rs 53,700 crore for development and welfare of Scheduled Tribes.<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"color: #000000;\">The government proposes budget provision of Rs 85,000 crore in 2020-21 for the welfare of SC and other backward classes.<\/span><\/li>\n<\/ul>\n<h3><span style=\"color: #000000;\"><strong>Finance<\/strong><\/span><\/h3>\n<ul>\n<li><span style=\"color: #000000;\">Insurance cover increased to Rs 5 lakh per depositor.<\/span><\/li>\n<li><span style=\"color: #000000;\">Government to sell balance holding of IDBI Bank to private, retail, institutional investors.<\/span><\/li>\n<li><span style=\"color: #000000;\">Balance holding of IDBI Bank to be sold through stock exchange.<\/span><\/li>\n<li><span style=\"color: #000000;\">Auto-enrolment to be infused into Universal Pension Coverage.<\/span><\/li>\n<\/ul>\n<p><em><strong>Test Your Finance Knowledge\u21d2 <span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/bank-exams\/?ref=dj\" target=\"_blank\" rel=\"noopener noreferrer\">HERE<\/a><\/span><\/strong><\/em><\/p>\n<h3><span style=\"color: #000000;\"><strong>Infrastructure<\/strong><\/span><\/h3>\n<ul>\n<li><span style=\"color: #000000;\">National Infrastructure pipeline of Rs 103 lakh crore launched don 31 Dec 2019.<\/span><\/li>\n<li><span style=\"color: #000000;\">National Logistics policy to be released soon.<\/span><\/li>\n<li><span style=\"color: #000000;\">Government will create a single-window e-logistics market.<\/span><\/li>\n<li><span style=\"color: #000000;\">Delhi-Mumbai and two other packages to be completed by 2023.<\/span><\/li>\n<li><span style=\"color: #000000;\">Government proposes at least 12 lots of highways bundles of over 5000km before 2024.<\/span><\/li>\n<li><span style=\"color: #000000;\">100 more airports to be developed b 2024 to support UDAAN scheme.<\/span><\/li>\n<li><span style=\"color: #000000;\">Government proposes to provide Rs 1.70 lakh crore for transport infrastructure in 2020-21.<\/span><\/li>\n<li><span style=\"color: #000000;\">The government proposes to expand the national gas grid from present 16,200 km to 27,000 km.<\/span><\/li>\n<\/ul>\n<h3><span style=\"color: #000000;\"><strong>Culture and Tourism<\/strong><\/span><\/h3>\n<ul>\n<li><span style=\"color: #000000;\">Rs 3,150 crore allocated for the ministry of culture in 2020-21.<\/span><\/li>\n<li><span style=\"color: #000000;\">Government will establish Indian Institute of Heritage and Conservation under culture ministry.<\/span><\/li>\n<li><span style=\"color: #000000;\"><em><strong>Five archaeological sites to be developed at iconic sites with on-site museums.\u00a0<\/strong><\/em><\/span>\n<div class=\"PD IF\">\n<div id=\":8u.co\" class=\"JL\">\n<div id=\":91.ma\" class=\"Mu SP\" data-tooltip=\"February 1, 2020 at 12:30:31 PM UTC+5:30\"><span style=\"color: #000000;\"><em><strong><span id=\":91.co\" class=\"tL8wMe EMoHub\" dir=\"ltr\">1. Rakhigarhi, Haryana.<br \/>\n2. Hastinapur, Uttar Pradesh.<br \/>\n3. Sivasagar, Assam.<br \/>\n4. Dholavira, Gujarat.<br \/>\n5. Adichanallur, Tamil Nadu<\/span><\/strong><\/em><\/span><\/div>\n<\/div>\n<\/div>\n<\/li>\n<\/ul>\n<h3><span style=\"color: #000000;\"><strong>Miscellaneous<\/strong><\/span><\/h3>\n<ul>\n<li><span style=\"color: #000000;\">Rs 1,480 cr for National Textile Mission\u00a0proposed.<\/span><\/li>\n<li><span style=\"color: #000000;\">National Technical Textile Mission proposed with 4 year implementation period from 2020-2024.<\/span><\/li>\n<li><span style=\"color: #000000;\">Government announces Rs 22,000 crore for the power and the renewable energy sector.<\/span><\/li>\n<li><span style=\"color: #000000;\">Single investment clearance window soon to promote entrepreneurship.<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"color: #000000;\">Conventional energy meters to be replaced by prepaid &#8216;smart meters&#8217; in the next three years. Pre-paid meters (smart meters) will give consumers the freedom to choose suppliers.<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"color: #000000;\">NIRVIK being launched to achieve higher export credit disbursement and to provide higher insurance coverage.<\/span><\/li>\n<li><span style=\"color: #000000;\">Government allocates Rs 9,000 crore for senior citizens and Divayang.<\/span><\/li>\n<li><span style=\"color: #000000;\">Govt to set up a national recruitment agency for the recruitment of non-gazetted posts.<\/span><\/li>\n<li><span style=\"color: #000000;\">Govt proposes to sell a part of its holding in LIC via IPO.<\/span><\/li>\n<li><span style=\"color: #000000;\">India to host G20 presidency in 2022.<\/span><\/li>\n<li><span style=\"color: #000000;\">The total allocation for Swachh Bharat Mission is Rs 12,300 crore in 2020-21<\/span><\/li>\n<\/ul>\n<\/div>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><i>This was all from us in this blog, <strong>Union Budget 2020 key highlights<\/strong>. Hope all the points mentioned above would have helped you to know everything on Union Budget 2020. Stay tuned with Oliveboard for more exam related information.<\/i><\/span><\/p>\n<p><strong>Also Check:\u00a0\u00a0<\/strong><\/p>\n<ul>\n<li><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/bank-exams\/?ref=dj\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>100+ Free Mock Tests<\/strong><\/a><\/span><\/li>\n<li><span style=\"color: #3366ff;\"><strong><a style=\"color: #3366ff;\" href=\"https:\/\/play.google.com\/store\/apps\/details?id=in.oliveboard.prep\" target=\"_blank\" rel=\"noopener noreferrer\">Oliveboard Mobile App<\/a><\/strong><\/span><\/li>\n<li><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/discuss.oliveboard.in\/?ref=dj\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>Oliveboard\u2019s discuss forum<\/strong><\/a><\/span><\/li>\n<li><span style=\"color: #3366ff;\"><strong><a style=\"color: #3366ff;\" href=\"https:\/\/t.me\/obbanking\">Oliveboard Telegram Group<\/a><\/strong><\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The Finance Minister, Smt. Nirmala Sitharaman presents the Union Budget for the fiscal year 2020-21 in the Parliament on 1<\/p>\n","protected":false},"author":50,"featured_media":53539,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,31,62,5221,5204],"tags":[],"class_list":["post-53507","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","category-bank-exams","category-government-exams","category-homepage-featured","category-insurance-exams","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Union Budget 2020 Live Updates: Key Highlights, Facts &amp; Figures<\/title>\n<meta name=\"description\" content=\"Here&#039;s Budget 2020 Live Updates. Know the Key Highlights, Facts &amp; Figures exclusively on Oliveboard as they are very important for upcoming exams.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.oliveboard.in\/blog\/budget-2020-live\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Union Budget 2020 Live Updates &amp; Key Highlights\" \/>\n<meta property=\"og:description\" content=\"The Finance Minister, Smt. 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