Union Budget 2020

Comprehensive Analysis

Finance Minister presented the Union Budget 2020 under three prominent themes

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Aspirational India Economic Development Caring Society

Some of the key features of the Union Budget are:

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Moving ahead with aspirations

The Budget provides special emphasis on agriculture, irrigation and rural development through 16 action proposals. Further, a New Education Policy is proposed to be introduced. To augment local water sources, Jal Jeevan Mission has also been announced.
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Laying a roadmap for economic development

The Budget also laid down the proposal for setting up five Smart Cities in collaboration with the states under a PPP mode. A National Logistics Policy will be launched, providing impetus to the infrastructure sector. Further, it is proposed to set up a project preparation facility to enable recent pipeline projects.
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Incentivising clean air

The government has announced incentivising states for formulating and implementing plans for ensuring cleaner air in big cities. A budgetary allocation of INR 4,400 crores for FY 2020-21 has been made.
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Key tax proposals

The Budget proposes to abolish Dividend Distribution Tax (DDT) from 1 April 2020. The dividends will consequently be taxable in the hands of the shareholders. Further, the Budget proposes introduction of a new personal tax regime. This new regime is optional for the taxpayer and provides for lower tax slab rates.

 

Grant Thornton in India presents you a comprehensive analysis of the Budget announcements.

We hope you find it informative and useful.