BUDGET HIGHLIGHTS

-Fiscal deficit contained at 3.4%.

-Direct taxes have climbed 78% in last 5 years to cross 11.37 lac Cr

-Indian economy is now valued at USD 2.7 trn. Govt targets USD 5 trn before 2024.

-Focus on Water for all by 2024 and affordable housing by 2022.

-Govt to expand Swach bharat mission to cover solid waste mgt.

-Focus on distribution of Solar chargers to every household like LED distribution under

Ujwale scheme.

-FDI in insurance, aviation sector to be hiked. 100% FDI permitted for insurance

intermediaries.

-Govt to hasten strategic disinvestment of PSE’S. Disinvestment target is pegged at

1,05,000 Cr for FU2020. To consider whether Govt can go below 51% stake in

certain PSE’S.

-Investment linked tax benefit for manufacture of solar chargers.

-To hike limits for Foreign investments in some companies.

-To streamline labor laws into four categories.

-Govt will start raising part of its Gross borrowing programme in external markets in

external currencies.

-New exchange for listing of Social orgainsations and NGO’S to enable fund raining.

-Govt will work with excahnges to allow AA bonds as collateral.

-NRI portfolio route to be meged with FPI.

-Credit guarantee enhancement corporation to be set up to depeen markets for long term bonds with special focus on infra sector.

-PSU banks to get Rs 70000 Cr capital infusion.

-Sounds NBFC’S to get funds from banks and requirement of debenture reservation fund

has been done away with.

-One time 6 month partial credit guarantee to be given to PSU’S for purchase of high rated

pool assets of sound NBFC’S amounting to Rs 1 lac Cr in FY 20.

-Govt to upgrade 125000 km of roads and carry out comprehensive restructuring of

National highways programme.

-Sadak Yojana will get Rs 80250 Cr.

-Govt to allow aircraft financing and leasing and reinitiate privatisation of Air India.

-One nation, One power grid scheme.

-Local sourcing norm eased for single brand retial.

-Digital transactions promoted by waiving all MDR charges.

-RBI to regulate housing finance companies and a new tenancy law will be rolled out.

-Additional tax deduction of 1.5 lacs on interest paid on home loans taken up to March

2020.

-Pension benefit to 3 Cr retail traders if turnover is less than Rs 1.5 Cr..

-Centre to create new platform for MSME’S for payment of bills.

-Start ups are not required to justify fair market value of shares issued under Category

II AIF’S.

-Capital gains exemption for sale of start ups extended.

-Railways will be encouraged to invest more in metro rail and suburban networks.

-National research foundation to be set up to fund and promote research. Study in India

programme for foreign students to be launched.

-Aadhar Cards for NRI’S to be issued without waiting for 180 days period.

Taxation: PAN and Aadhar interchangeable.

-Corporate tax of 25% -turnover limit enhanced to 400 Cr.

-Surcharge on super rich having taxable income above Rs 2 Cr.

-Simplified GST from in offing.

-Basic customs duty hiked on auto parts, optical fibres, digital camera and a few more

items.

-Customs duty on Gold increased from 10% to 12.5%.

-Rs 1 Cess on Petrol and diesel.

-Customs duty on certain parts of electric vechiles removed.

Rupee has gained after early weakness and is now at 69.47, 10 Year Yield has declined to

6.67% and Equity indices are down 0.85%.

 

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