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1. Kisan Rail: The Indian Railways will set up Kisan Rail through PPP arrangement for the transportation of perishable goods. The
trains will have a refrigerator to keep goods fresh.
2. Krishi UDAN: The initiative will be launched by the Civil Aviation Ministry on international and national routes, improving value
realization, especially in the north-east and tribal districts.
3. National Technical Textiles Mission: The mission will be introduced with a four-year implementation period. The mission will
have an outlay of Rs 1,480 crore.
4. Vivad Se Vishwas Scheme: The scheme will enable a taxpayer, who will pay only amount of disputed tax, to get a complete
waiver on interest and penalty, if the scheme is availed by March 31, 2020.
In Budget 2020, Finance Minister Nirmala Sitharaman proposed a new set of income tax rates for those earning up to ₹15 lakh a year.
She proposed a 10% tax on income between ₹5 and ₹7.5 lakh from 20 per cent now.
Income between ₹7.5 lakh to ₹10 lakh will also attract a lower tax of 15%. For annual income between ₹10 lakh and ₹12.5 lakh, the income
tax rate has been reduced to 20% from 30%.
Those earning ₹12.5 lakhs to ₹15 lakhs will pay 25 per cent tax. The Finance Minister said that those earning over ₹15 lakh would continue to
pay the tax at the current rate of 30%. The new tax regime is optional and an individual taxpayer can opt for the structure that is beneficial for
him.
Indian Institute of Heritage and Culture: A new Indian Institute of Heritage and Culture to be set up under Ministry of Culture.
G-20 presidency: India will host G-20 presidency in 2022. The government has allocated Rs 100 crores for the preparation.
Tourism: Five archaeological sites will be transformed into iconic sites with on-site museums-
1. Rakhigarhi in Haryana
2. Hastinapur in UP
3. Shivsagar in Assam
4. Dholavira in Gujarat
5. Adichanallur in Tamil Nadu.
Sagar Mitras: The rural youth as 'Sagar Mitras' will enable youth and fishery extension work by forming over 500 fish farmer
producing organisations.
VGF: A viability gap funding window will be set up to cover hospitals, with priority to aspirational districts that do not have
empannelled hospitals under Ayushman Bharat scheme.
Road and Highways: The Delhi-Mumbai Expressway has been proposed to be completed by 2023.
Railways: More Tejas-type trains will be introduced to connect iconic destinations. The Government has also proposed setting up
of large solar panel capacity alongside the railway tracks on the land owned by the Indian Railways.
Income Tax: Personal income tax regime proposed for individual tax payers, where the income tax rates will be reduced.
Funds Allocation for fiscal 2020-21
Defence – 3.37 lakhs crores
Education- Rs 99300 crores
Skill development- Rs 3000 crores
Health Sector- Rs 69,000 crore
Industry and Commerce: Rs 27300 crore
Nutrition related programmes: Rs 35600 crores
Tourism: Rs 2500 crores
Senior Citizens and Divyang: Rs 9500 crores
SC and OBCs: Rs 85,000 crore
STs: Rs 53,700 crore
MGNREGA- 61500 crore
For Railways
-The railways got a budgetary allocation of ₹70,000 crore and an outlay for capital expenditure amounting to ₹1.61 lakh crore
-The budget also proposed setting up of a large solar power capacity alongside the rail tracks on land owned by the railways.
-Redevelopment of four stations and operation of 150 passenger trains would be done through the public-private-partnership (PPP) mode.
-It also announced introduction of more Tejas type trains which will connect iconic tourist destinations. Prepared by Vicky