Highlights of Union Budget 2020-21 - (01 Feb 2020)

Civil

Finance Minister Nirmala Sitharaman announced on 1st February, 2020-2021 cuts in personal income tax, extended tax benefits for affordable housing and gave relief to companies on payment of dividend. With this the Central Government looked to boost consumption to bring the economy out of the worst slowdown in 11 years.

The Finance Minister proposed raising customs duty on a variety of products ranging from tableware and kitchenware, electrical appliances to footwear, furniture, stationery and toys to give a level playing field to domestic companies and boost ‘Make in India’.

She said, “In May 2019, Prime Minister Narendra Modi received a massive mandate to form the government again. People of India have unequivocally given their janaadesh for not just political stability, but have also reposed their faith in our economic policy. This is a budget to boost their income and enhance their purchasing power.”

Tags : UNION BUDGET HIGHLIGHTS