Union Budget 2020-21: Key takeaways in taxes, education, climate, transport, infrastructure, agriculture & medicine

Union finance minister Nirmala Sitharaman presented the Budget for the second time in her tenure on Saturday.

The key highlights of the Budget 2020-2021are as follows:

Add WION as a Preferred Source

Tax rates:

* Corporate tax for existing companies slashed to 22 per cent.

Education:

* Rs 99,300 crore allocated for the education sector and Rs 3,000 crore for skill development.

* Steps to be taken to attract external commercial borrowing, FDI in the education sector.

* Centre to announce new education policy soon; govt received over 2 lakh suggestions on it.

Climate change:

* Rs 4,400 crore allocated for the 'Clean Air policy'.In this, the focus will be on those cities that have a population of one million.

* India's commitment towards tackling climate change made in Paris conference kick-starts from January 1, 2021.

* PM KUSUM to be expanded to provide 2 million farmers in setting up standalone solar pumps.

* Sitharamanallocated Rs 2,955 crores to the Ministry of Environment, Forests and Climate Change which was roughly 10 per cent more than the previous Budgets.

* Out of this, pollution control got a fresh budget of Rs 460 crores, which includes multiple initiatives like the National Clean Air Programme (NCAP).

Infrastructure:

* India to provide 273 billion rupeesfor promotion of industry and commerce.

* Firms operating old thermal power plants advised to shut units if emission norms not met.

* India to allocate 44 billion rupeesfor clean air incentives in cities with over 1 million people.

* India to allocate 220 billion rupeesfor power and renewables.

* Conventional energy meters to be replaced by prepaid smart meters in the next three years.

* India to expand national gas grid to 27,000 km.

* Large solar power capacity to be set up alongside rail tracks, on land owned by Indian Railways.

Transport:

* 550 wi-fi facilities have been commissioned at railway stations.

* Proposal for setting up large solar power capacity alongside rail track is under consideration.

* More Tejas type trains will connect tourist destinations

* 1,150 trains to be run in PPP mode, also 4 stations to be redeveloped with help of the private sector.

* 100 more airports to be developed by 2025 to support Udaan scheme.

* Government to consider corporatisation of at least one major port and listing it on stock exchanges.

* Rs 1.7 lakh cr provided for transport infrastructure in 2020-21.

Agriculture:

* 2.83 trillion rupees for agriculture and allied activities.

* Approves 3.6 trillion rupeesfor a federal water scheme.

* The government to disburse Rs 15 lakh crore among farmers as credit for the year 2020-21.

* Refinancing scheme of National Bank for Agriculture and Rural Development (NABARD) will be further expanded.

Medicine:

* Special bridge courses will be designed for teachers, nurses, para-medical staff and caregivers.

* Proposal to attach medical colleges with district hospitals on the Public-Private Partnership.