Finance minister Nirmala Sitharaman while presenting the Budget on Saturday introduced new slabs and reduced the tax rate for different slabs for an individual income of up to Rs 15 lakh per annum provided the taxpayer opts for foregoing exemptions.

<a href="https://www.wionews.com/business-economy/budget-2020-finance-minister-nirmala-sitharaman-proposes-withdrawal-of-customs-duty-exemption-on-raw-sugar-agro-animal-based-products-278019">Also Read:&nbsp;Sitharaman proposes withdrawal of customs duty exemption on raw sugar, agro-animal based products</a>

"Twenty per cent tax for individuals annually earning between Rs 10 lakh and Rs 12.5 lakh, 25 per cent for income between Rs 12.5 lakh and 15 lakh, 30 per cent for above Rs 15 lakh income under the new slab," Sitharaman said.

"Dividend distribution tax shifted to individuals instead of companies," India's finance minister asserted.

For individuals earning upto Rs 5 lakh in a year will pay no tax. "For income between Rs 7.5 lakh and Rs 10 lakh per annum, tax rate has been reduced to 15 per cent from 20 per cent," the minister said.

<a href="https://www.wionews.com/india-news/latest-india-news-finance-minister-nirmala-sitharaman-breaks-record-of-longest-budget-speech-278005">Also Read:&nbsp;In longest Budget speech, Sitharaman recites Kashmiri poem, couplet in Tamil</a>

"The proposal would lead to a revenue sacrifice of Rs 40,000 crore per annum," the minister added.

The minister said the new regime will be optional and the people can continue with old regime if they wanted.

The government also proposed cut in tax on cooperative societies to twenty-two per cent including surchange and cess. Sitharaman also announced extending the approval date by one year of affordable housing projects in order to avail tax holiday on profit earned by developers.

<a href="https://www.wionews.com/photos/interesting-facts-about-the-budget-277967">In Pics: Key facts about India's Budget &nbsp;</a>

"Direct taxes are the lowest, simplest and smoothest," the finance minister said.&nbsp;

The finance minister also announced the extension of additional Rs 1.5 lakh tax benefit on interest paid on affordable housing loans to March 2021.

In order to simplify PAN, the minister said a process would be put in place to instantly allot it through Aadhaar.

Finance minister Nirmala Sitharaman while presenting the Budget on Saturday introduced new slabs and reduced the tax rate for different slabs for an individual income of up to Rs 15 lakh per annum provided the taxpayer opts for foregoing exemptions.

Finance minister Nirmala Sitharaman while presenting the Budget on Saturday introduced new slabs and reduced the tax rate for different slabs for an individual income of up to Rs 15 lakh per annum provided the taxpayer opts for foregoing exemptions. Also Read: Sitharaman proposes withdrawal of customs duty exemption on raw sugar, agro-animal based products "Twenty per cent tax for individuals annually earning between Rs 10 lakh and Rs 12.5 lakh, 25 per cent for income between Rs 12.5 lakh and 15 lakh, 30 per cent for above Rs 15 lakh income under the new slab," Sitharaman said. "Dividend distribution tax shifted to individuals instead of companies," India's finance minister asserted. For individuals earning upto Rs 5 lakh in a year will pay no tax. "For income between Rs 7.5 lakh and Rs 10 lakh per annum, tax rate has been reduced to 15 per cent from 20 per cent," the minister said. Also Read: In longest Budget speech, Sitharaman recites Kashmiri poem, couplet in Tamil "The proposal would lead to a revenue sacrifice of Rs 40,000 crore per annum," the minister added. The minister said the new regime will be optional and the people can continue with old regime if they wanted. The government also proposed cut in tax on cooperative societies to twenty-two per cent including surchange and cess. Sitharaman also announced extending the approval date by one year of affordable housing projects in order to avail tax holiday on profit earned by developers. In Pics: Key facts about India's Budget "Direct taxes are the lowest, simplest and smoothest," the finance minister said. The finance minister also announced the extension of additional Rs 1.5 lakh tax benefit on interest paid on affordable housing loans to March 2021. In order to simplify PAN, the minister said a process would be put in place to instantly allot it through Aadhaar.

Budget 2020: Sitharaman's new optional tax slabs to give choice for people to decide

India's aid to the neighbouring countries for the financial year (FY) 2020-2021 stands at Rs 5084.65 crore. This forms a substantial chunk of India's aid globally which stands at Rs 5863.65 crore.&nbsp;

Bhutan continued to see maximum aid allocation in the budget today at Rs 2884.65 crore with Afghanistan getting Rs 400 crore, Maldives and Myanmar getting Rs 300 crore each and Bangladesh and Sri Lanka getting Rs 200 crore each. Mongolia, which considers India its third neighbour and a spiritual one was allotted Rs 2 crore.

Also read: <a href="https://www.wionews.com/business-economy/union-budget-2020-is-a-progressive-one-focuses-on-skill-development-of-indias-youth-pm-modi-278017">Union Budget 2020 will bolster income and investment; bring vitality in financial system - PM Modi</a>

While three countries saw an increase in aid by India, four countries saw a cut in Indian aid. Myanmar saw an aid increase of Rs 170 crore, Seychelles received an increase of Rs 90 crore while Bangladesh's was an increase of Rs 50 crore.&nbsp;

Nepal saw a cut of Rs 400 crore and will be getting Rs 800 crore as financial aid from India as compared to Rs 1200 crore in the revised budget of last year. One of the major reasons was that funds from the previous allocation was still left. Nepal was allocated around 763 crore in FY 2018-19 and last FY saw a substantial allocation of Rs 1200 crore.

Also read: <a href="https://www.wionews.com/india-news/want-to-increase-spending-capacity-nirmala-sitharaman-278011">Wanted to increase spending capacity - Nirmala Sitharaman&nbsp;</a>

Mauritius, Maldives and Sri Lanka saw a minor aid cut of Rs 75 crore, Rs 26 crore and Rs 5 crore, respectively.&nbsp;

Overall, the Union Budget for the financial year 2020-2021 stands at Rs 17346.71 crore versus the revised budget for the financial year 2019-20 at Rs 17372.27 crore, which can be considered almost unchanged. Rs 150 crore, from the MEA budget, has been allocated for the maintenance cost of Air India aircraft for VVIP travel.&nbsp;

India's aid to the neighbouring countries for the financial year (FY) 2020-2021 stands at Rs 5084.65 crore. This forms a substantial chunk of India's aid globally which stands at Rs 5863.

India's aid to the neighbouring countries for the financial year (FY) 2020-2021 stands at Rs 5084.65 crore. This forms a substantial chunk of India's aid globally which stands at Rs 5863.65 crore. Bhutan continued to see maximum aid allocation in the budget today at Rs 2884.65 crore with Afghanistan getting Rs 400 crore, Maldives and Myanmar getting Rs 300 crore each and Bangladesh and Sri Lanka getting Rs 200 crore each. Mongolia, which considers India its third neighbour and a spiritual one was allotted Rs 2 crore. Also read: Union Budget 2020 will bolster income and investment; bring vitality in financial system - PM Modi While three countries saw an increase in aid by India, four countries saw a cut in Indian aid. Myanmar saw an aid increase of Rs 170 crore, Seychelles received an increase of Rs 90 crore while Bangladesh's was an increase of Rs 50 crore. Nepal saw a cut of Rs 400 crore and will be getting Rs 800 crore as financial aid from India as compared to Rs 1200 crore in the revised budget of last year. One of the major reasons was that funds from the previous allocation was still left. Nepal was allocated around 763 crore in FY 2018-19 and last FY saw a substantial allocation of Rs 1200 crore. Also read: Wanted to increase spending capacity - Nirmala Sitharaman Mauritius, Maldives and Sri Lanka saw a minor aid cut of Rs 75 crore, Rs 26 crore and Rs 5 crore, respectively. Overall, the Union Budget for the financial year 2020-2021 stands at Rs 17346.71 crore versus the revised budget for the financial year 2019-20 at Rs 17372.27 crore, which can be considered almost unchanged. Rs 150 crore, from the MEA budget, has been allocated for the maintenance cost of Air India aircraft for VVIP travel.

Budget 2020: Indian aid to neighbouring countries stands at around 5,000 crore; Nepal sees a cut

Finance Minister Nirmala Sitharaman on Saturday said that she wanted to place money in the hands of the people, especially the middle class and lower-middle classes, in order to increase the spending capacity.

Finance Minister Nirmala Sitharaman on Saturday said that she wanted to place money in the hands of the people, especially the middle class and lower-middle classes, in order to increase the spending capacity. Also read: Union Budget 2020 will bolster income and investment; bring vitality in financial system, says PM Modi Addressing the post Budget press conference, she said she wanted to simplify the income tax process and increase compliance. On the new tax charter, she said that new tax charter has been introduced in order to curb tax harassment. Commenting on her long budget speech, she said ''I agree that my budget speech was lengthy but in the speech, I had focussed on and spoken about the schemes for employment for the youth, as well as benefits to them''. Elaborating on the budget, she said, "To improve consumption demand, private investment, and public spending and since revenue side could not be pressed further, without violating FRBM (Fiscal Responsibility and Budget Management), we had to relax fiscal deficit target by 0.5%." In pics: Key facts about India's Budget ''Corporate tax cut and benefit derived by new companies, as well as improved GST collections will improve revenue generation and give the comfort to bring down fiscal deficit next year, with disinvestment too improving,'' she said on corporate tax cuts. Earlier today, during her budget speech, Sitharaman had said, "Around 70 of more than 100 income tax deductions and exemptions have been removed, in order to simplify the tax system and lower tax rates." Substantial tax benefit will accrue to individual taxpayers under the new personal income tax regime, she added. (With inputs from ANI)

Wanted to increase spending capacity: Nirmala Sitharaman on Budget 2020

Union finance minister Nirmala Sitharaman presented the Budget for the second time in her tenure on Saturday.

<a href="https://www.wionews.com/business-economy/union-budget-2020-21-news-updates-unwell-nirmala-sitharaman-cuts-short-longest-ever-budget-speech-of-independent-india-278009">Also read:&nbsp;Unwell Nirmala Sitharaman cuts short longest-ever Budget speech of Independent India</a>

The key highlights of the Budget 2020-2021&nbsp;are as follows:

Tax rates:

<table border="1" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>Below Rs 5 lakh</td>
			<td>No tax</td>
		</tr>
		<tr>
			<td>Between Rs 2.5 to Rs 5 lakh</td>
			<td>5%</td>
		</tr>
		<tr>
			<td>Between Rs 5 to Rs 7.5</td>
			<td>10%</td>
		</tr>
		<tr>
			<td>Between Rs 7.5 to Rs 10 lakh</td>
			<td>15%</td>
		</tr>
		<tr>
			<td>Between Rs 10 lakhs to Rs 12.5 lakh</td>
			<td>20%</td>
		</tr>
		<tr>
			<td>Between Rs 12.5 to Rs 15 lakhs</td>
			<td>25%</td>
		</tr>
		<tr>
			<td>Above Rs 15 lakh</td>
			<td>30 %</td>
		</tr>
	</tbody>
</table>

* 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'.&nbsp;In this, the focus will be on those cities that have a population of one million.&nbsp;

* 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.

* Sitharaman&nbsp;allocated 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 rupees&nbsp;for 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 rupees&nbsp;for clean air incentives in cities with over 1 million people.

* India to allocate 220 billion rupees&nbsp;for 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.&nbsp;

Agriculture:

* 2.83 trillion rupees for agriculture and allied activities.

* Approves 3.6 trillion rupees&nbsp;for 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.

Union finance minister Nirmala Sitharaman presented the Budget for the second time in her tenure on Saturday. Also read: Unwell Nirmala Sitharaman cuts short longest-ever Budget speech of Independent India The key highlights of the Budget 2020-2021 are as follows: Tax rates: Below Rs 5 lakh No tax Between Rs 2.

Union finance minister Nirmala Sitharaman presented the Budget for the second time in her tenure on Saturday. Also read: Unwell Nirmala Sitharaman cuts short longest-ever Budget speech of Independent India The key highlights of the Budget 2020-2021 are as follows: Tax rates: Below Rs 5 lakh No tax Between Rs 2.5 to Rs 5 lakh 5% Between Rs 5 to Rs 7.5 10% Between Rs 7.5 to Rs 10 lakh 15% Between Rs 10 lakhs to Rs 12.5 lakh 20% Between Rs 12.5 to Rs 15 lakhs 25% Above Rs 15 lakh 30 % * 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. * Sitharaman allocated 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 rupees for 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 rupees for clean air incentives in cities with over 1 million people. * India to allocate 220 billion rupees for 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 rupees for 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.

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

Sensex tanked over 1,000 points on Saturday afternoon as proposals in the Union Budget 2020-21 failed to cheer investors.

Finance Minister Nirmala Sitharaman announced cuts in income tax rates for individuals and scrapping of <a href="https://www.wionews.com/business-economy/sensex-plunges-over-600-points-as-budget-fails-to-cheer-market-277998">dividend distribution tax</a> (DDT) besides a host of measures to reverse the falling economic growth.

The S&amp;P BSE Sensex was trading around 39,720.35, down 1,003.14 points while Nifty was down by 303.35, trading at 11,658.75.

<a href="https://www.wionews.com/business-economy/25-tax-for-individuals-annually-earning-between-rs-10-lakh-and-rs-125-lakh-sitharaman-in-budget-2020-277999">Also read:&nbsp;25% tax for individuals annually earning between Rs 10 lakh and Rs 12.5 lakh: Sitharaman in Budget 2020</a>

IDBI Bank share price rose more than 18 per cent after the government announced that it will sell its stake in the bank.

The data available on BSE shows that the government held a 47.11 per cent stake in IDBI Bank as of December 31, 2019, while Life Insurance Corporation of India held a 51 per cent stake.&nbsp;

Hindustan Unilever was also up 2 per cent, SBI and Ultratech Cement rose 1 per cent and were the top gainers in the Sensex. While on the other hand, Powergrid, Tech Mahindra, and NTPC were all down by 1 per cent were the top laggards. The broader Nifty50 index was trading near 11,813-mark, down 148 points, or 1.24 per cent at 1:45 pm today.&nbsp;

Sensex tanked over 1,000 points on Saturday afternoon as proposals in the Union Budget 2020-21 failed to cheer investors. Finance Minister Nirmala Sitharaman announced cuts in income tax rates for individuals and scrapping of dividend distribution tax (DDT) besides a host of measures to reverse the falling economic growth.

Sensex tanked over 1,000 points on Saturday afternoon as proposals in the Union Budget 2020-21 failed to cheer investors. Finance Minister Nirmala Sitharaman announced cuts in income tax rates for individuals and scrapping of dividend distribution tax (DDT) besides a host of measures to reverse the falling economic growth. The S&P BSE Sensex was trading around 39,720.35, down 1,003.14 points while Nifty was down by 303.35, trading at 11,658.75. Also read: 25% tax for individuals annually earning between Rs 10 lakh and Rs 12.5 lakh: Sitharaman in Budget 2020 IDBI Bank share price rose more than 18 per cent after the government announced that it will sell its stake in the bank. The data available on BSE shows that the government held a 47.11 per cent stake in IDBI Bank as of December 31, 2019, while Life Insurance Corporation of India held a 51 per cent stake. Hindustan Unilever was also up 2 per cent, SBI and Ultratech Cement rose 1 per cent and were the top gainers in the Sensex. While on the other hand, Powergrid, Tech Mahindra, and NTPC were all down by 1 per cent were the top laggards. The broader Nifty50 index was trading near 11,813-mark, down 148 points, or 1.24 per cent at 1:45 pm today.

Sensex tumbles over 1,000 points after Budget announcements

Union finance minister <a href="https://www.wionews.com/business-economy/union-budget-2020-21-live-updates-nirmala-sitharaman-union-budget-live-speech-on-union-budget-income-tax-slab-rate-cut-railway-budget-277913">Nirmala Sitharaman</a> delivered the longest Budget speech on Saturday after she spoke for two hours and forty-one minutes.

She also broke her own previous record of speaking for two hours and seventeen minutes in the previous Budget.

Before this, the longest speeches were given by <a href="https://www.wionews.com/photos/interesting-facts-about-the-budget-277967">Jaswant Singh</a>&nbsp;in 2003 and <a href="https://www.wionews.com/photos/interesting-facts-about-the-budget-277967">Arun Jaitley</a>&nbsp;in 2014 who spoke for two hours thirteen minutes and two hours ten minutes respectively.

Also see:<a href="https://www.wionews.com/photos/interesting-facts-about-the-budget-277967">&nbsp;Key facts about India's Budget</a>

However, &nbsp;ex-finance minister Manmohan Singh speech was longest in terms of words as it comprised of 18,650 words in the historic 1991 speech in which he announced the liberalization of the economy.

It was followed by former finance minister late Arun Jaitley&nbsp;whose speech comprised of 18,604 words.

Interestingly, the shortest Budget speech was given by HM Patel in 1977 during the Janta Dal government comprising&nbsp;800 words.

The Union Budget speeches have become longer over the period of time.

The following chart shows the number of paragraphs in each budget speech:

<img alt="Data" data-entity-type="file" data-entity-uuid="6767e228-a3b9-41f0-8a2a-334c5fbc61cf" src="//cdn.wionews.com/sites/default/files/inline-images/Capture%20454.JPG" />

(Data: Ministry of Finance)

After over two hours and a half hours, Sitharaman appeared to be exhausted after speaking for such a long duration.

''Sir, I think I will lay down the rest of the pages,'' she told the Lok Sabha speaker <a href="https://www.wionews.com/india-news/lok-sabha-speaker-om-birla-rejects-ministers-demand-says-there-will-be-no-adjournments-238511">Om Birla.</a>

India's finance minister cut shot the Budget and did not read the remaining two pages of her speech as she felt uneasy.

True to her style in 2019, she recited several poems and couplets from a Kashmiri poem by Dina Nath Kaul Nadim, a line from Tamil Saint poet Avvaiyar's 'Aathichudi' and one couplet of Tamil saint Thirukkural.

She had also used six&nbsp;languages in her Budget Day speech on July 5, 2019.

Union finance minister Nirmala Sitharaman delivered the longest Budget speech on Saturday after she spoke for two hours and forty-one minutes. She also broke her own previous record of speaking for two hours and seventeen minutes in the previous Budget.

Union finance minister Nirmala Sitharaman delivered the longest Budget speech on Saturday after she spoke for two hours and forty-one minutes. She also broke her own previous record of speaking for two hours and seventeen minutes in the previous Budget. Before this, the longest speeches were given by Jaswant Singh in 2003 and Arun Jaitley in 2014 who spoke for two hours thirteen minutes and two hours ten minutes respectively. Also see: Key facts about India's Budget However, ex-finance minister Manmohan Singh speech was longest in terms of words as it comprised of 18,650 words in the historic 1991 speech in which he announced the liberalization of the economy. It was followed by former finance minister late Arun Jaitley whose speech comprised of 18,604 words. Interestingly, the shortest Budget speech was given by HM Patel in 1977 during the Janta Dal government comprising 800 words. The Union Budget speeches have become longer over the period of time. The following chart shows the number of paragraphs in each budget speech: (Data: Ministry of Finance) After over two hours and a half hours, Sitharaman appeared to be exhausted after speaking for such a long duration. ''Sir, I think I will lay down the rest of the pages,'' she told the Lok Sabha speaker Om Birla. India's finance minister cut shot the Budget and did not read the remaining two pages of her speech as she felt uneasy. True to her style in 2019, she recited several poems and couplets from a Kashmiri poem by Dina Nath Kaul Nadim, a line from Tamil Saint poet Avvaiyar's 'Aathichudi' and one couplet of Tamil saint Thirukkural. She had also used six languages in her Budget Day speech on July 5, 2019.

In longest Budget speech, Sitharaman recites Kashmiri poem, couplet in Tamil

Finance Minister Nirmala Sitharaman in her Railway Budget 2020 speech, as part of the Union Budget speech, announced many projects for Indian Railways besides announcing&nbsp;as many as 150 private trains on the Indian Railways network via the PPP model. She also said that in the coming years more Tejas Express-style trains will be introduced on key tourist routes. 

Here are the highlights of the Railway Budget:

 
Sitharaman said that Indian Railways achieved the important target of eliminating the unmanned level crossings on its network which is a big way in enhancing safety on the Indian Railways network.

Large solar power capacity alongside rail tracks to be set up.

Tejas- type trains will be introduced to connect tourist destinations.

Delhi-Mumbai Expressway to be completed by 2023 and that the Chennai-Bengaluru Expressway will also be launched.

150 private trains will be running on the Indian Railways network via the PPP model in the next few years. &nbsp;

Four stations will be redeveloped with the help of private sector.&nbsp;

Sitharaman announced that Indian Railways has managed to provide free high-speed WiFi connectivity at 1000s of railway stations across the country.

Finance Minister Nirmala Sitharaman spoke of Modi government's aim to allow for Rs 100 lakh crore investment in infrastructure which includes model railway stations.&nbsp;

Finance Minister Nirmala Sitharaman in her Railway Budget 2020 speech, as part of the Union Budget speech, announced many projects for Indian Railways besides announcing as many as 150 private trains on the Indian Railways network via the PPP model.

Finance Minister Nirmala Sitharaman in her Railway Budget 2020 speech, as part of the Union Budget speech, announced many projects for Indian Railways besides announcing as many as 150 private trains on the Indian Railways network via the PPP model. She also said that in the coming years more Tejas Express-style trains will be introduced on key tourist routes. Here are the highlights of the Railway Budget: Sitharaman said that Indian Railways achieved the important target of eliminating the unmanned level crossings on its network which is a big way in enhancing safety on the Indian Railways network. Large solar power capacity alongside rail tracks to be set up. Tejas- type trains will be introduced to connect tourist destinations. Delhi-Mumbai Expressway to be completed by 2023 and that the Chennai-Bengaluru Expressway will also be launched. 150 private trains will be running on the Indian Railways network via the PPP model in the next few years. Four stations will be redeveloped with the help of private sector. Sitharaman announced that Indian Railways has managed to provide free high-speed WiFi connectivity at 1000s of railway stations across the country. Finance Minister Nirmala Sitharaman spoke of Modi government's aim to allow for Rs 100 lakh crore investment in infrastructure which includes model railway stations.

Railway Budget 2020 highlights: New trains, investments announced 

Union finance minister <a href="https://www.wionews.com/business-economy/union-budget-2020-21-live-updates-nirmala-sitharaman-union-budget-live-speech-on-union-budget-income-tax-slab-rate-cut-railway-budget-277913">Nirmala Sitharaman</a> presented the Budget for the second time in her tenure on Saturday.

In her speech she said, ''clean air is a matter of concern in large cities, propose to encourage states to formulate and implement plans to ensure clean air''.

Also read:&nbsp;<a href="https://www.wionews.com/business-economy/union-budget-2020-21-live-updates-nirmala-sitharaman-union-budget-live-speech-on-union-budget-income-tax-slab-rate-cut-railway-budget-277913">Union Budget 2020-21 Live News Updates</a>

She made several announcements for the environment and climate change.

Key Highlights:&nbsp;

*Rs 4,400 crore allocated for the 'Clean Air policy'.&nbsp;In this, the focus will be on those cities that have a population of one million.&nbsp;

*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.

* Sitharaman&nbsp;allocated 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).

Union finance minister Nirmala Sitharaman presented the Budget for the second time in her tenure on Saturday. In her speech she said, ''clean air is a matter of concern in large cities, propose to encourage states to formulate and implement plans to ensure clean air''.

Union finance minister Nirmala Sitharaman presented the Budget for the second time in her tenure on Saturday. In her speech she said, ''clean air is a matter of concern in large cities, propose to encourage states to formulate and implement plans to ensure clean air''. Also read: Union Budget 2020-21 Live News Updates She made several announcements for the environment and climate change. Key Highlights: *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. * Sitharaman allocated 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).

Union Budget 2020: Nirmala Sitharaman's key announcements on climate change

Finance Minister Nirmala Sitharaman presented her second Budget in Prime Minister Narendra Modi's second term in what is considered to be the most difficult budget in a decade.&nbsp;

<a href="https://www.wionews.com/business-economy/union-budget-2020-21-live-updates-nirmala-sitharaman-union-budget-live-speech-on-union-budget-income-tax-slab-rate-cut-railway-budget-277913">Also Read:&nbsp;Union Budget 2020-21-&nbsp;News Updates</a>

The FM Presented the budget at a time when the Indian economy was facing multipronged challenges including lack of jobs and slowing consumption.&nbsp;

<a href="https://www.wionews.com/business-economy/2020-budget-updates-union-budget-2020-sitharaman-allocates-rs-99300-crore-for-education-proposes-medical-colleges-with-district-hospitals-on-ppp-model-277987">Also Read:&nbsp;Sitharaman allocates Rs 99,300 crore for education</a>

Here are the reactions of political leaders on Sitharaman's budget:&nbsp;

The budget gives an outline of new and confident India: Defence Minister Rajnath Singh

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The first Budget of the new decade presented today by Finance Minister Smt. <a href="https://twitter.com/nsitharaman?ref_src=twsrc%5Etfw">@nsitharaman</a> gives an outline of a New and Confident India. 
 
It is a promising, proactive and progressive Budget which will make India healthy and wealthy in coming years.
— Rajnath Singh (@rajnathsingh) <a href="https://twitter.com/rajnathsingh/status/1223524289694978053?ref_src=twsrc%5Etfw">February 1, 2020</a></blockquote>
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Govt removes incentives to ''save'' in the nation with no social security: Trinamool Congress on Budget

The Trinamool Congress on Saturday slammed the Union Budget over the removal of tax exemptions and questioned such a move in a country with no social security. 
Finance Minister Nirmala Sitharaman introduced new slabs and reduced the tax rate for different slabs for an individual income of up to Rs 15 lakh per annum, if a taxpayer opts for foregoing exemptions and deductions.

<a href="https://www.wionews.com/business-economy/nominal-gdp-growth-for-2020-21-estimated-at-10-per-cent-says-fm-sitharaman-277995">Nominal GDP growth for 2020-21 estimated at 10 per cent, says FM Sitharaman&nbsp;</a>

The official handle of Congress party tweeted that the Budget 2020 has failed to layout a roadmap or plan on how the govt plans to address this serious issue.

<img alt="Congress" data-entity-type="file" data-entity-uuid="6ceb8870-ef0a-431d-8df4-863c188ebc78" src="//cdn.wionews.com/sites/default/files/inline-images/congress.JPG" /> 
 
Criticizing the Union Budget presented by the Finance Minister Nirmala Sitharaman, Congress leader Rahul Gandhi said that govt's hollow approach visible in Budget. The budget describes govt's mindset well - all talk, nothing concrete; a lot of repetition and rambling.&nbsp;

"Did not see any concrete, strategic idea in Budget that could help youngsters get jobs; redundant things, no central idea," said Rahul Gandhi.

Finance Minister Nirmala Sitharaman presented her second Budget in Prime Minister Narendra Modi's second term in what is considered to be the most difficult budget in a decade.

Finance Minister Nirmala Sitharaman presented her second Budget in Prime Minister Narendra Modi's second term in what is considered to be the most difficult budget in a decade. Also Read: Union Budget 2020-21- News Updates The FM Presented the budget at a time when the Indian economy was facing multipronged challenges including lack of jobs and slowing consumption. Also Read: Sitharaman allocates Rs 99,300 crore for education Here are the reactions of political leaders on Sitharaman's budget: The budget gives an outline of new and confident India: Defence Minister Rajnath Singh The first Budget of the new decade presented today by Finance Minister Smt. @nsitharaman gives an outline of a New and Confident India. It is a promising, proactive and progressive Budget which will make India healthy and wealthy in coming years. — Rajnath Singh (@rajnathsingh) February 1, 2020 × Govt removes incentives to ''save'' in the nation with no social security: Trinamool Congress on Budget The Trinamool Congress on Saturday slammed the Union Budget over the removal of tax exemptions and questioned such a move in a country with no social security. Finance Minister Nirmala Sitharaman introduced new slabs and reduced the tax rate for different slabs for an individual income of up to Rs 15 lakh per annum, if a taxpayer opts for foregoing exemptions and deductions. Nominal GDP growth for 2020-21 estimated at 10 per cent, says FM Sitharaman The official handle of Congress party tweeted that the Budget 2020 has failed to layout a roadmap or plan on how the govt plans to address this serious issue. Criticizing the Union Budget presented by the Finance Minister Nirmala Sitharaman, Congress leader Rahul Gandhi said that govt's hollow approach visible in Budget. The budget describes govt's mindset well - all talk, nothing concrete; a lot of repetition and rambling. "Did not see any concrete, strategic idea in Budget that could help youngsters get jobs; redundant things, no central idea," said Rahul Gandhi.

Budget 2020 political reactions: Govt calls Budget reform-oriented; Opposition terms it rambling, says 'no focus on job creation'

Finance Minister Nirmala Sitharaman presented her second Budget in Prime Minister Narendra Modi's second term in what is considered to be the most difficult budget in a decade. The FM Presented the budget at a time when the Indian economy was facing multipronged challenges including lack of jobs and slowing consumption.&nbsp;

Here are the key highlights of the Union budget 2020 - 21:&nbsp;

Government proposes Rs 3.6 lakh crore towards <a href="https://www.wionews.com/business-economy/live-budget-2020-news-union-budget-2020-21-gst-has-gradually-matured-into-a-tax-integrating-the-country-economically-says-sitharaman-277943">piped water supply</a> to households.&nbsp;

Centre to announce a new education policy soon; the government received over 2 lakh suggestions on it.&nbsp;

Allocation for Swachh Bharat for 2020-21 stands at Rs&nbsp;12,300 crore. &nbsp;

The government proposes to expand coverage of Artificial Insemination to 70 per cent from 30 per cent to increase livestock productivity.

Fish production to be raised to 200 lakh tonnes by 2022.

Indian Railways to set up Kisan Rail in Public–private partnership (PPP) mode for <a href="https://www.wionews.com/business-economy/foreign-direct-investment-increased-to-284-billion-during-2014-19-sitharaman-277972">cold Supply chain</a> to transport perishable goods.&nbsp;

Horticulture with 311 MT exceeds the production of food&nbsp;Grains.&nbsp;

Watch:&nbsp;Know how stock market is reacting to Budget 2020

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Agricultural credit target set up at Rs 15 lakh crore for Financial Year 2021.

NABARD refinance scheme will be expanded.&nbsp;

Taskforce to be set up to recommend marriageable age for women.

Government to bring out policy for data centre parks throughout the country.

Government proposes discoms replace conventional meters with smart pre-paid meters, an option to consumers to choose electricity suppliers.

Fibre to home through BharatNet to link one lakh gram Panchayats this year; Rs 6,000 crore provided for BharatNet in Financial Year 2021.

All public institutions at gram panchayat levels such as police stations and post offices to be connected digitally.&nbsp;

Finance Minister Nirmala Sitharaman presented her second Budget in Prime Minister Narendra Modi's second term in what is considered to be the most difficult budget in a decade. The FM Presented the budget at a time when the Indian economy was facing multipronged challenges including lack of jobs and slowing consumption. Here are the key highlights of the Union budget 2020 - 21: Government proposes Rs 3.6 lakh crore towards piped water supply to households. Centre to announce a new education policy soon; the government received over 2 lakh suggestions on it. Allocation for Swachh Bharat for 2020-21 stands at Rs 12,300 crore. The government proposes to expand coverage of Artificial Insemination to 70 per cent from 30 per cent to increase livestock productivity. Fish production to be raised to 200 lakh tonnes by 2022. Indian Railways to set up Kisan Rail in Public–private partnership (PPP) mode for cold Supply chain to transport perishable goods. Horticulture with 311 MT exceeds the production of food Grains. Watch: Know how stock market is reacting to Budget 2020 × Agricultural credit target set up at Rs 15 lakh crore for Financial Year 2021. NABARD refinance scheme will be expanded. Taskforce to be set up to recommend marriageable age for women. Government to bring out policy for data centre parks throughout the country. Government proposes discoms replace conventional meters with smart pre-paid meters, an option to consumers to choose electricity suppliers. Fibre to home through BharatNet to link one lakh gram Panchayats this year; Rs 6,000 crore provided for BharatNet in Financial Year 2021. All public institutions at gram panchayat levels such as police stations and post offices to be connected digitally.

Budget 2020 highlights: Swachh Bharat funds, Railway PPP, agricultural credit target

As Finance Minister Nirmala Sitharaman presented the Union Budget for the financial year 2020-21 on Saturday, the domestic equity markets responded in a subdued manner with the BSE Sensex trading 600 points lower.

At 1.50 pm., the Sensex was trading at 40,109.55, lower while Nifty was trading at 11,768.10, lower by 194.00 points.&nbsp;

The indices were largely flat during the early hours of trade and started to decline significantly around 1 p.m.

The budget comes at a crucial time as the economy is going through a severe slowdown and consumer sentiment is significantly low.

The only gainers on the Sensex were Hindustan Unilever, Infosys, TCS and Nestle. The major losers were Larsen and Toubro, ONGC, Tata Steel, Hero MotoCorp and Power Grid.

As Finance Minister Nirmala Sitharaman presented the Union Budget for the financial year 2020-21 on Saturday, the domestic equity markets responded in a subdued manner with the BSE Sensex trading 600 points lower.

As Finance Minister Nirmala Sitharaman presented the Union Budget for the financial year 2020-21 on Saturday, the domestic equity markets responded in a subdued manner with the BSE Sensex trading 600 points lower. At 1.50 pm., the Sensex was trading at 40,109.55, lower while Nifty was trading at 11,768.10, lower by 194.00 points. The indices were largely flat during the early hours of trade and started to decline significantly around 1 p.m. The budget comes at a crucial time as the economy is going through a severe slowdown and consumer sentiment is significantly low. The only gainers on the Sensex were Hindustan Unilever, Infosys, TCS and Nestle. The major losers were Larsen and Toubro, ONGC, Tata Steel, Hero MotoCorp and Power Grid.

Budget 2020: Sensex plunges over 600 points

Union finance minister Nirmala Sitharaman while announcing the Budget in Parliament today announced hundred per cent tax concession to sovereign wealth funds on investment in infrastructure&nbsp;projects.

<a href="https://www.wionews.com/business-economy/union-budget-2020-21-live-updates-nirmala-sitharaman-union-budget-live-speech-on-union-budget-income-tax-slab-rate-cut-railway-budget-277913">Also Read:&nbsp;Union Budget 2020-21-&nbsp;News Updates</a>

"Fiscal deficit pegged at 3.8 per cent in current fiscal and 3.5 per cent next year," Sitharaman said during the Budge speech.

The minister also announced concessional tax rate of 15 per cent to power generation companies.

"Concessional withholding rate of 5 per cent on interest payment to non-residents extended up to June 30, 2022," the minister announced.

<a href="https://www.wionews.com/business-economy/2020-budget-updates-union-budget-2020-sitharaman-allocates-rs-99300-crore-for-education-proposes-medical-colleges-with-district-hospitals-on-ppp-model-277987">Also Read:&nbsp;Sitharaman allocates Rs 99,300 crore for education</a>

"Twenty per cent tax for individuals annually earning between Rs 10 lakh and Rs 12.5 lakh, 25 per cent for income between Rs 12.5 lakh and 15 lakh, 30 per cent for above Rs 15 lakh income under the new slab," Sitharaman said.

"Dividend distribution tax shifted to individuals instead of companies," India's finance minister asserted.

For individuals,&nbsp;those earning upto Rs 5 lakh in a year will pay no tax. "For income between Rs 7.5 lakh and Rs 10 lakh per annum, tax rate has been reduced to 15 per cent from 20 per cent," the minister said.

Sitharaman proposed 10 per cent tax for income between Rs 5 lakh and Rs 7.5 lakh per anum for those who forego deductions and exemptions.

<a href="https://www.wionews.com/business-economy/nominal-gdp-growth-for-2020-21-estimated-at-10-per-cent-says-fm-sitharaman-277995">Nominal GDP growth for 2020-21 estimated at 10 per cent, says FM Sitharaman&nbsp;</a>

"Expected tax buoyancy will take time," the minister added. "Government to sell part of its holding in LIC," she added.&nbsp;

The minister added that all flagship schemes of the government have been provided for in the Budget.

Union finance minister Nirmala Sitharaman while announcing the Budget in Parliament today announced hundred per cent tax concession to sovereign wealth funds on investment in infrastructure projects.

Union finance minister Nirmala Sitharaman while announcing the Budget in Parliament today announced hundred per cent tax concession to sovereign wealth funds on investment in infrastructure projects. Also Read: Union Budget 2020-21- News Updates "Fiscal deficit pegged at 3.8 per cent in current fiscal and 3.5 per cent next year," Sitharaman said during the Budge speech. The minister also announced concessional tax rate of 15 per cent to power generation companies. "Concessional withholding rate of 5 per cent on interest payment to non-residents extended up to June 30, 2022," the minister announced. Also Read: Sitharaman allocates Rs 99,300 crore for education "Twenty per cent tax for individuals annually earning between Rs 10 lakh and Rs 12.5 lakh, 25 per cent for income between Rs 12.5 lakh and 15 lakh, 30 per cent for above Rs 15 lakh income under the new slab," Sitharaman said. "Dividend distribution tax shifted to individuals instead of companies," India's finance minister asserted. For individuals, those earning upto Rs 5 lakh in a year will pay no tax. "For income between Rs 7.5 lakh and Rs 10 lakh per annum, tax rate has been reduced to 15 per cent from 20 per cent," the minister said. Sitharaman proposed 10 per cent tax for income between Rs 5 lakh and Rs 7.5 lakh per anum for those who forego deductions and exemptions. Nominal GDP growth for 2020-21 estimated at 10 per cent, says FM Sitharaman "Expected tax buoyancy will take time," the minister added. "Government to sell part of its holding in LIC," she added. The minister added that all flagship schemes of the government have been provided for in the Budget.

25% tax for individuals annually earning between Rs 10 lakh and Rs 12.5 lakh: Sitharaman in Budget 2020

Union finance minister Nirmala Sitharaman presented the Budget for the second time in her tenure on Saturday.

Also read: <a href="https://www.wionews.com/business-economy/union-budget-2020-21-live-updates-nirmala-sitharaman-union-budget-live-speech-on-union-budget-income-tax-slab-rate-cut-railway-budget-277913">Union Budget 2020-21 Live News Updates</a>

She made several announcements regarding the&nbsp;Rail, Road, ports and Air transports. These include:&nbsp;

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.&nbsp;

Union finance minister Nirmala Sitharaman presented the Budget for the second time in her tenure on Saturday. Also read: Union Budget 2020-21 Live News Updates She made several announcements regarding the Rail, Road, ports and Air transports.

Union finance minister Nirmala Sitharaman presented the Budget for the second time in her tenure on Saturday. Also read: Union Budget 2020-21 Live News Updates She made several announcements regarding the Rail, Road, ports and Air transports. These include: 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.

Union Budget 2020-21: Railway, Road, ports and Air transport announcements

Finance Minister Nirmala Sitharaman on Saturday&nbsp;pegged nominal gross domestic product (GDP) growth at 10 per cent for FY21 in the Union Budget presented on Saturday.&nbsp;

The Economic Survey 2020-21 presented in Parliament on January 31 pegged <a href="https://www.wionews.com/business-economy/budget-2020-highlights-swachh-bharat-funds-railway-ppp-agricultural-credit-target-budget-news-updates-277980">economic growth</a> in the range of 6 per cent to 6.5 per cent.

The Indian economy is expericing&nbsp;a slowdown.&nbsp;

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The Reserve Bank of India (RBI) has revised its real <a href="https://www.wionews.com/business-economy/union-budget-2020-21-live-updates-nirmala-sitharaman-union-budget-live-speech-on-union-budget-income-tax-slab-rate-cut-railway-budget-277913">GDP growth </a>for the year to 5 per cent, from 6.1 per cent earlier.

International Monetary Fund (IMF) slashed India's Financial Year 21 growth forecast by 120 bps to 5.8 per cent.&nbsp;

India's GDP — the total value of goods and services produced in the country — slumped to over 6-year low of 5 per cent in the April -June quarter and 4.5 per cent in the July - September quarter of 2019, against a 7.1 per cent growth in July-September last year.

The Central Statistics Office in its first advanced estimate released in January, pegged economic growth rate for 2019-20 at 5 per cent, slower than the 2018-19 expansion rate of 6.8 per cent.

Finance Minister Nirmala Sitharaman on Saturday pegged nominal gross domestic product (GDP) growth at 10 per cent for FY21 in the Union Budget presented on Saturday.

Finance Minister Nirmala Sitharaman on Saturday pegged nominal gross domestic product (GDP) growth at 10 per cent for FY21 in the Union Budget presented on Saturday. The Economic Survey 2020-21 presented in Parliament on January 31 pegged economic growth in the range of 6 per cent to 6.5 per cent. The Indian economy is expericing a slowdown. × The Reserve Bank of India (RBI) has revised its real GDP growth for the year to 5 per cent, from 6.1 per cent earlier. International Monetary Fund (IMF) slashed India's Financial Year 21 growth forecast by 120 bps to 5.8 per cent. India's GDP — the total value of goods and services produced in the country — slumped to over 6-year low of 5 per cent in the April -June quarter and 4.5 per cent in the July - September quarter of 2019, against a 7.1 per cent growth in July-September last year. The Central Statistics Office in its first advanced estimate released in January, pegged economic growth rate for 2019-20 at 5 per cent, slower than the 2018-19 expansion rate of 6.8 per cent.

Nominal GDP growth for 2020-21 estimated at 10 per cent, says FM Sitharaman  

Union finance minister Nirmala Sitharaman during the Budget speech announced the allocation of Rs 99,300 crore for the education sector.

<a href="https://www.wionews.com/business-economy/union-budget-2020-21-live-updates-nirmala-sitharaman-union-budget-live-speech-on-union-budget-income-tax-slab-rate-cut-railway-budget-277913">Also Read:&nbsp;Union Budget 2020-21-&nbsp;Live News Updates</a>

"Special bridge courses will be designed for teachers, nurses, para-medical staff and caregivers," the minister said, while adding that the government proposes to attach medical colleges with district hospitals on the PPP model to deal with the shortage of doctors.

The finance minister also announced degree level full-fledged online education programme by institutions ranked in top 100.

"National police university and national forensic university are being proposed," the minister said during the Budget speech.

Watch Video:

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Sitharaman also announced setting up of project preparation facilities for the infrastructure sector.

"Rs 103 lakh crore infra project pipeline has been launched in December end," the minister announced.

Union finance minister Nirmala Sitharaman during the Budget speech announced the allocation of Rs 99,300 crore for the education sector. Also Read: Union Budget 2020-21- Live News Updates "Special bridge courses will be designed for teachers, nurses, para-medical staff and caregivers," the minister said, while adding that the government proposes to attach medical colleges with district hospitals on the PPP model to deal with the shortage of doctors.

Union finance minister Nirmala Sitharaman during the Budget speech announced the allocation of Rs 99,300 crore for the education sector. Also Read: Union Budget 2020-21- Live News Updates "Special bridge courses will be designed for teachers, nurses, para-medical staff and caregivers," the minister said, while adding that the government proposes to attach medical colleges with district hospitals on the PPP model to deal with the shortage of doctors. The finance minister also announced degree level full-fledged online education programme by institutions ranked in top 100. "National police university and national forensic university are being proposed," the minister said during the Budget speech. Watch Video: Sitharaman also announced setting up of project preparation facilities for the infrastructure sector. "Rs 103 lakh crore infra project pipeline has been launched in December end," the minister announced.

Union Budget 2020: Sitharaman allocates Rs 99,300 crore for education; proposes medical colleges with district hospitals on PPP model

Sensex and Nifty are trading flat as Finance Minister Nirmala Sitharaman was presenting her second budget.

The decision for stock exchanges to open on Saturday was made after traders requested keep trading hours so that quick buys based on Budget initiatives can be made.

Sitharaman is likely to present a `feel-good` Budget in the backdrop of sliding economic growth despite corporate tax cuts and other stimulus measures. However, the Economic Survey has projected the GDP growth rate of 6 to 6.5 per cent during fiscal 2020-21.

At 01:00&nbsp;pm, the BSE S&amp;P Sensex was down 60&nbsp;points while the Nifty was trading 25 points down.&nbsp;

<a href="https://www.wionews.com/business-economy/union-budget-2020-21-live-updates-nirmala-sitharaman-union-budget-live-speech-on-union-budget-income-tax-slab-rate-cut-railway-budget-277913">Also read -&nbsp;Union Budget 2020-21 Live News Updates: Government aims to double farmers' income by 2022, says FM</a>

Sectoral indices at the National Stock Exchange were mixed.

Among stocks, Power Grid Corporation was down by 3.4 per cent at Rs 180.50 per share. Tech Mahindra, power utility major NTPC, Tata Steel and Coal India were among prominent losers. However, FMCG major Hindustan Lever, GAIL, Bajaj Finserv, Bharat Petroleum Corporation and IndianOil Corporation showed marginal gains.&nbsp;

Meanwhile, Asian share markets were closed for the weekend.

Sensex and Nifty are trading flat as Finance Minister Nirmala Sitharaman was presenting her second budget. The decision for stock exchanges to open on Saturday was made after traders requested keep trading hours so that quick buys based on Budget initiatives can be made.

Sensex and Nifty are trading flat as Finance Minister Nirmala Sitharaman was presenting her second budget. The decision for stock exchanges to open on Saturday was made after traders requested keep trading hours so that quick buys based on Budget initiatives can be made. Sitharaman is likely to present a `feel-good` Budget in the backdrop of sliding economic growth despite corporate tax cuts and other stimulus measures. However, the Economic Survey has projected the GDP growth rate of 6 to 6.5 per cent during fiscal 2020-21. At 01:00 pm, the BSE S&P Sensex was down 60 points while the Nifty was trading 25 points down. Also read - Union Budget 2020-21 Live News Updates: Government aims to double farmers' income by 2022, says FM Sectoral indices at the National Stock Exchange were mixed. Among stocks, Power Grid Corporation was down by 3.4 per cent at Rs 180.50 per share. Tech Mahindra, power utility major NTPC, Tata Steel and Coal India were among prominent losers. However, FMCG major Hindustan Lever, GAIL, Bajaj Finserv, Bharat Petroleum Corporation and IndianOil Corporation showed marginal gains. Meanwhile, Asian share markets were closed for the weekend.

Sensex down by 60 points, Nifty 25 as Finance Minister Nirmala Sitharaman delivers Budget speech 