20 key Budget highlights you must know

WION Web Team
New Delhi, Delhi, India Published: Feb 01, 2020, 08:15 PM(IST)

Union Budget 2020 highlights Photograph:( WION )

Story highlights

The finance minister reiterated that tax harassment cannot be tolerated, as often it is the wealth generators who end up getting harassed.

Finance minister Nirmala Sitharaman proposed the introduction of a taxpayers' charter in the income tax act.

It has been done to ensure harassment of taxpayers by income tax officials does not take place.

The finance minister reiterated that tax harassment cannot be tolerated, as often it is the wealth generators who end up getting harassed.

Certain offences under the companies act will not be decriminalised, and other laws are being examined to make corrections.

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Key highlights of Budget 2020:

Mega 16-point action plan for farmers

India now fifth largest economy globally, says Sitharaman

Rs 12,300 crore allocated for Swachh Bharat mission this year

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India uplifted 271 million people out of poverty: Sitharaman

60 lakh taxpayers added in the last 2 years

Anti-TB campaign to be launched to eliminate TB by 2025

100 more airports to be developed by 2024

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Rs 69,000 crore allocated for the healthcare sector

More Tejas-type trains to connect tourist destinations

Rs 85,000 crore allocated for the employment of Scheduled Tribes

Rs 100 crore set aside for culture ministry

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Rs 4,400 crore dedicated for clean air projects

Taxpayers' charter to be institutionalized

Ayushman Bharat hospitals in 100 more districts 

Rs 100 crore to be allocated for G20 preparations

Industrial Development Bank of India(IDBI) to be disinvested

LIC disinvestment to take place

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Government slashes tax rates

I-T rates slashed to 10 per cent for those earning between Rs 5-7.5 lakh

I-T rates slashed to 15 per cent for those earning between Rs 7.5-10 lakh

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