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Union Budget 2020 Live Updates & Key Highlights

February 1, 2020

Union Budget 2020-21: The Finance Minister, Smt. Nirmala Sitharaman presents the Union Budget for the fiscal year 2020-21 in the Parliament on 1 February 2020 and here we are with the Union Budget 2020 Live updates. The highlights of Union Budget 2020 is very significant from the examination point of view.

Union Budget 2020 facts and figure will be extremely important for all the upcoming exams in 2020 such as SBI PO and Clerk, IBPS PO and Clerk, RBI Grade B Officer and Assistant, SSC CGL, SSC CHSL, SSC CPO, IBPS RRB PO, Railways RRB, SEBI and more.

Check this article to know Union Budget 2020-21 will impact the different sectors.

Agriculture:

FM stated that the government is determined to the goal of doubling the farmer’s income by the year 2022.
FM allotted budget of 2.83 lakh crore for agriculture and rural development.
Krishi Udaan to be launched by Civil Aviation Ministry to transport agri-products to national as well as international destinations.
Agriculture credit target has been set at Rs 15 lakh crore.
A total of 6.11 crore farmers insured under Fasal Bima, says finance minister.
Under the Deendayal Antyodaya Scheme, fish farmer producer organisation to be set up.
All beneficiaries of PM Kisan scheme will now be covered under the Kisan Credit Card (KCC) scheme.
Indian Railways to set up “Kisan Rail” so that farm goods can be quickly transported. It will also be used for cold storage of goods through PPP model.
Milk processing capacity to be expanded to 108 tonnes from 53.5 tonnes.

Education

Under the Union Budget, Rs 99, 300 crores allocated for the education sector in 2020-21 and Rs 3,000 crore for skill development.
Urban Local Bodies have been asked to provide internship opportunities for freshers and engineers for a period of one year.
As per the budget, 150 higher education institutions will start apprenticeships in 2020-21
Budget proposes to set up “National Police University” and “National Forensic Science University”.
INDSAT exam will be conducted in Asian and African countries under the Study in India programme.
A degree-level full-fledged online education programme to be offered by institutes in top 100 in National Institutional Ranking Framework.

Health

69,000 crores have been alloted to the health sector.
4400 crores allocated for Clean Air
FM Proposes a public-private partnership (PPP) mode hospitals in 112 aspirational districts. Wellness water and sanitation & Healthcare Mission Indradhanush expanded to cover 12 diseases, Fit India Movement, Jal Jeevan Mission, Swachh Bharat Mission.
“TB हारेगा, देश जीतेगा” Campaign, Strengthen the campaign to end Tuberculosis by 2025. Jan Aushadi Kendra Scheme offering 2000 medicines, 300 surgical by 2024.
Rs 12,300 crore allocated to Swachh Bharat Mission.
Rs 35, 600 crore for nutrition-related programmes for 2020-21.

Infrastructure

100 lakh crore would be invested on Infrastructure in next 5 years as a followup Launched National Infrastructure Pipeline on 31st December 2019 of 103 lakh core work project consists of more than 6500 projects across sectors these projects will include Housing, safe drinking water, Acess to clean energy, Health Care, World-Class Education institution, Modern Railway Station, Airports, Metro, Logistics, Irrigation
1.7 Lakh Crores for Transport Infrastructure
High-Speed Train Mumbai-Ahemadabad would be actively pursued, urge to State & UTs to replace conventional energy meters by prepaid smart meters in the next 3 years

Industry and Commence

Propose to provide Rs 27,300 crores for development for industry and commerce for year 2020-21
Govt allows tech companies to set up Data Centre parks to provide internet to citizens. It allocates Rs 6,000 crore for BhartatNet
Policies will be launched soon for building Data Centre Parks.
A proposal to set up solar plants on the land owned by Railways is under consideration, says FM

Indian Railways

• Electrification of around 27000 km of railway lines achieved within 100 days of Modi Government formation in 2019.
• A large solar power capacity proposed for the Indian Railways. It will be built along the rail track on the Railways owned lands.
• Bengaluru Suburban Rail Project proposed; budget allocates Rs 18,600 crore for this project
• By 2024, the Government would monetize 12 lots of national highways
• With the help of UDAN scheme, 100 airports will be built by 2024
• The fleet of Aircraft will be increased to 1200 planes by 2024
• Rs 1.7 lakh crore allocated for transport infrastructure

Tourism Sector

The Tourism Sector will grow at 7.8% to Rs 1.88 lakh crore.

Wellness, Water and Sanitation

• Budget allocates Rs 12,300 crore for Swachch Bharat Mission
• Budget talks about the “Fit India Movement” in the context of India’s fight against the NCDs – non-communicable diseases.
• Budget seeks to set up hospitals in Indian Tier-II and Tier-III cities under the PPP model.
• Jan Aushadhi Kendra will be expanded.
• Budget allocates Rs 69,000 crore for the Health sector

Art & Culture

The government will constitute “Indian Institute of Heritage and Conservation” as a deemed university
5 archaeological sites to be developed as top-notch sites; these sites are
Rakhigarhi, Haryana
Hastinapur, Uttar Pradesh
Sivasagar, Assam
Dholavira, Gujarat
Adichanallur, Tamil Nadu
The government will build a Tribal Museum in Ranchi.
the budget allocates Rs 3150 crore for the Ministry of Culture