Budget 2020 Summary

Budget 2020 Summary

2020-06-09 19:09:54

• Budget 2020 Summary
• Budget 2021 Summary
• Budget 2022 Summary

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• Government debt 48.7% of GDP
• Budget themes - Aspirational India, Economic Development and Caring Society
• Aspirational India consists of 3 plans {Agriculture, Irrigation, Rural dev}; {Wellness, water and Sanitation} and {Education and Skills}
• Expand PM KUSUM to 20 lakh farmers setting up stand-alone solar pumps
• Geotagging of agri warehousing, cold storage etc by NABARD. VGF to warehouses, states to give land on PPP basis.
• Village Storage scheme run by SHGs
• Kisan Rail - refrigerated coaches through PPP
• Krishi Udaan by Mo Civil Aviation
• one product one district - for horticulture, cluster basis approach
• Agriculture credit target for year Rs 15 lakh crore, double milk capacity by 2025, remove FMD
• FIT India - against non-communicable disease, Jal Jeevan Mission, Swacch Bharat
• New Education Policy, ECB and FDI to deliver high quality education
• fully online degree level education program only by top 100 NIRF institutes
• INDSATstudy in India scholarship
• Medical college to an existing district hospital in PPP mode
• Economic Development
• Investment Clearance cell - provide end to end facilitation and support, pre investment advisory etc
• 5 new smart cities in collaboration in PPP mode
• scheme to promote mfd of mobile phones, electronic equipments, medical devices etc
• National Technical Textiles Mission dec reliance on US imports 4 yr allocation of 1480cr
• NIRVIK scheme, digital refunding to exporters
• Infrastructure
• National Infra Pipeline, project preparation facility for infra projects, youth in start up
• National Logistics Policy, Accelarated Development of Highways
• Monetise 12 lots of highway bundles by 2024
• Corporatizing at least 1 major port and list it on stock exchange
• Arth Ganga - to energise economic activity along river banks
• Replace conventional energy meters with prepaid smart meters in next 3 yrs
• Expand National Gas grid, facilitate transparent price discovery, ease of transactions
• New Economy
• Data policy to enable private sectors to build Data centres in country
• Bharatnet program
  • Provide braodband connectivity to all Gram Panchayats.
  • Biggest problem is Right of Way : where for laying underground wires challenges occur.
• digital platform to facilitate seamless application and capture of IPRs, mapping IN genetic landscape
• Quantum technology
• Caring Society
• replace manual cleaning of sewers
• Five archaeological sites - Rakhigarhi (Haryana), Hastinapur (Uttar Pradesh) Shivsagar (Assam), Dholavira (Gujarat) and Adichanallur (Tamil Nadu)
• Tribal museum in Ranchi, Maritime museum at Lothal
• WEF travel and tourism index rank 65,
• CDRI, close thermal power plants with high emission above pre-set norms,
• Implementation of NDC under Paris agreement from 1st jan 2021
• Governance
• National Recruitment Agency and Common Eligibility Test for appointment to non-gazetted post
• National Policy on Official Statistics would use latest tech like AI
• Financial Sector
• DICGC 1lk to 5 lk, limit for NBFC to recover debt under SARFAESI dec from 500cr - 100cr asset size and loan size from 1cr - 50 lkh
• IDBI bank will become private
• Credit Guarantee Trust for Medium and Small Entrepreneurs (CGTMSE) for working capital
• Fin Markets
• certain categories of G Sec to be open for non-resident investors
• Limit of FPI on corporate bonds to be inc from 9% to 15%
• New Debt ETF consisting of government securities
• Infra Financing
• Inter. Bullion Exchange in GIFT city, Rupee Derivatives to be trades in IFSC
• Sell part of LIC through IPOs
• Fiscal Mgt
• Overhaul of Centrally Sponsored Scheme and Central sector schemes to ensure scare public resources are spent optimally
• Rs 22,000 cr allocated for equity to certain specified infra fin companies to spur growth impulses in the economy
• Corporate tax for new companies inf mfd sector at 15%, 22% for existing coys
• For Individual taxpayers that forego certain deduction and exemption
  • 10% rate income b/w 5lk - 7.5 lk from 20%
  • 15 % from 7.5-10 lkh against 20% now
  • 12.5 - 15lk rate of 25% against 30%
  • 15 lkh above at 30%
• Dividend Distribution Tax removed to be taxed only in the hands of the recipient
• 100% tax exemption in interest, dividend and capital gains to Sovereign Wealth Funds for investment made in infra and other notified sectors min lock in 3 yrs
• Amend Income Tax Act to enable faceless appeals and faceless assessment
• Health cess on import of medical equipment

Image unavailable in web version: GDP Growth Rate (per cent) Net FDI 4.coc 3.coc Trends in Deficits CPI and WPI (per cent) CAD/Forex (per cent) Debt 34 0.7. 3.4 0.4 0.4

Image unavailable in web version: Tracking Progress in Numbers Foreign Exchange Reserves (t crore) 317cooo 3120300 of by •2011-12 02017-18 Sef A---aula r Gross Bank Credit (Z Crore) 201 National RS I re India is the 5tn largest economy in the world in terms ot GDP at current LIS S Trillion.

Image unavailable in web version: Revenue 2100.000 24.00.ooo 20.00.ooo 1100.000 12.00.ooo 8.00100 410.000 Expenditure (in crore) Revenue Receipts (in crore) 2110.000 14.00.ooo 7.00100 ee Nee Capital Expenditure (in crore) 4.20000 3.50000 2.80000 2.10000 Capital Receipts (in Rs. crore) 12.00. om 10, 00, om g,oo.cnn 7

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Image unavailable in web version: Rupee Goes To Central Sector Finance Commission and Other Transfers Centrally Sponsored Pensions Payments States’ Share of Taxes and Duties 20%

Image unavailable in web version: DEFICIT TRENDS 2008-09 2009-10 2010-11 2011-12 Fiscal Deficit 2012-13 2013-14 Revenue Deficit (% of GDP) 2014-15 2015-16 2016-17 2017-18 2018-19 RE 19-20 BE 20-21 Effective Revenue Deficit ---- Primary Deficit

Image unavailable in web version: SOURCES OF DEFICIT FINANCING Securities against small savings State Provident Fund Other Receipts (Internal Debt and Public Account External Debt Draw Down of Cash Balance z 2(moo 2016-17 2017-18 2018-19 Market Borrowings REIg-20 (e in crore) 400000 200000 BE20-21

Image unavailable in web version: S” 2 _ 58 Gmss Tax 2123 Co rpo n 00 0 3.85 19 00m of to NOR

Image unavailable in web version: 11.72 Tra n sfeß, and Other Expenditure 1870 Schemes eoe C ore M 0.85 Ce ntra d itu te rut Pay m

Image unavailable in web version: COMPOSITION OF EXPENDITURE Interest Subsidy Agriculture & Allied Activities Defence Transfer to States Transport Education Home Affairs rbnn evelopment Pension Rural Development rr & Telecom 0th ers nion Territories Scientific Dep e Commerce and Irulustry Exte rnal Affa irs Dev. Of

Image unavailable in web version: Fiscal Indicators 2020

Budget 2021 Summary

2021-04-07 12:37:27

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• First ever paperless Budget
• 6 Pillars

Health and Wellbeing

• PM Aatmanirbhar Swasth Bharat Yojana - dev capacity in primary, secondary and tertiary level, 6 yr time
• Mission Poshan 2.0 improve content, delivery, outreach and outcome
• Jal Jeevan Mission Urban - universal water supply
• Urban Swacch Bharat Mission 2.0 - complete faecal sludge mgt, source segregation, Reduce single plasti use, bio remediation
• Vaccine, Pneumococcal vaccine to avert 50,000 child deaths
• Voluntary Vehicle Scrapping policy, fitness test for old vehicles ^5d561f

Physical and Capital Infra

• Atmanirbhar Bharat - PLI scheme for mfg coys to become part of global supply chain, economies of scale, provide jobs
• Mega Investment Textiles Park MITRA scheme - 7 parks to be created
• NIP expanded funding through creating
  • institutional structures - DFI to be made, debt financing by FPIs
  • monetizing assetsNational Monetization Pipeline for Brownfield projects, dashboard to track progress, monetise railway infra, sports stadiums
  • enhance share in central/state budgets
• Traffic Mgt sys in 4-6 lane highways
• National Rail Plan for IN 2030, Western Dedicated Freight Corridor be commissioned by June 2022
• More share of public transport in Urban areas, Metrolite and MetroNeo technology
• Customers can chose electricity distribution company, result based incentives for discoms, National Hydrogen Energy mission
• PPP mode for operation of ports, scheme to promote flagging of merchant ships, subsidy to IN coys
• Ujjwala scheme extended, independent gas transport system
• Single code for securities market, new institutional framework to dev Bond market, Setting up regulated Gold exchanges regulated by SEBI, charter of rights for Fin investors
• FDI in Insurance sector now 74%
• ARC and Asset Mgt Coy be set up
• Recap of 20,000 to PSBs
• Min loan size for debt recovery under SARFAESI act dec from 50 to 20 lkh
• LLP Act to be decriminalised
• Change definition of small coys to ease compliance min paid up capital 2cr turnover 20cr
• Incentivise One person companies
• Estimated Disinvestment of 1.75 lkh cr this year
• NITI to decide coys for strategic disinvestment
• SPVs to monetize idle land
• Treasury Single Account sys, Separate Adm structure to streamline EoDB for Co-op societies

Inclusive Dev for Aspirational IN

• SWAMITVA Yojana - Survey of villages and Mapping w/ improvised tech to bring transparency to land ownership
• Op Green scheme for 22 products, Agri Credit inc
• Agri Infra fund for APMCs
• Modern harbours for inland and marine fishing
• Kochi, Chennai, Vizag, Paradip , Petuaghat to be dev as economic hubs
• Promote seaweed cultivation

Reinvigorating Human Capital

• Higher Education Commission, 15,000 schools to include all components of NEP
• 750 Eklavya Model schools, Post Matric Scholarship scheme for SC
• National Apprenticeship Training Scheme NATS - partnerships w/ UAE, JP

Innovation and R&D

• National Research Foundation to improve reac
• National Language Translation Mission NTLM, Deep Ocean Mission, New Space IN Ltd

Min Govt, Max Governance

• Reform Tribunals, National Commission for allied Healthcare professionals, National Nursing and midwifery commission bill
• Special scheme for Tea workers esp women and children

Tax

• National Faceless Income tax appellate Tribunal Centre
• Attract Forex : Infra debt funds could issue Zero Coupon Bonds
• Agriculture Infra and Dev Cess AIDC on items like Petrol, diesel, gold etc
• Turant Customs initiative for faceless, paperless, contactless customs

Fiscal Position

Image unavailable in web version: Expenditure on Education as per cent of GDP 2020-21 BE 2019-20 RE 2018-19 2017-18 2016-17 2015-16 2014-15 -0.5 0.5 3.5 2.s 2.s 2.8 2.8 2.8 1.5 2.5 3.5

Image unavailable in web version: 2013 2018 2019 2020 i020 (Sept-end) Per cent Per cent 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 Actuals 2020-21 RE 2021-22 BE

Image unavailable in web version: Rupee comes in Non Debt Capital Receipts Bib Borrowings and other Liabilities Non Tax Revenue 6% o a Income Tax Union Excise Duties Corporation Tax GST

Image unavailable in web version: Revenue Receipts (crore) Capital Receipts (crore) 168 •59 020926 2020-21 (BE) 1788424 555153 2019-20 (Actuals) 2020-21 (RE) 2021-22 (BE) 2019-20 (Actuals) 2020-21 (BE) 1895152 2020-21 (RE) 16%4812 2021-22 (BE)

Image unavailable in web version: Revenue Expenditure (crore) Capital Expenditure (crore) 554236 43916 2350604 2019-20 (Actuals) 2630145 2020-21 (BE) 3011142 2020-21 (RE) • 2929000 2021-22 (BE) 335726 2019-20 (Actuals) 12085 2020-21 (BE) 2020-21 (RE) 2021-22 (BE)

Image unavailable in web version: Major Allocations Ministry of Housing and Urban Ministry of Health and Family Welfare Ministry of Education Ministry of Railways Ministry ofRoad Transport and Highways Ministry of Agriculture and Farmers’ Welfare Ministryof Rural Development Ministry ofHome Affairs Ministry of Consumer Affairs: Food and Public Distribution Ministry of Defence 54581 73932 93224 118101 131531 133690 166547 1 256948 478196

Budget 2022 Summary

• #todo [[26-04-2022]]