Budget 2020: In a major announcement, in her budget speech FM Nirmala Seetharam declared to sell part of its stake in LIC. LIC’s shares will be listed on stock exchanges.
FM also announced to sell government stake in IDBI Bank
Fiscal deficit estimate expected at 3.8 percent in FY20 and 3.5 percent in FY21 on expected lines.
Other Major Announcements:
• 5 archeological sites will be developed as iconic sites with on-site museum
• National Gas Grid to be expanded from 16,200 km to 27,000 km; reforms to be introduced to deepen gas markets, enable ease of transactions and transparent price recovery.
• There shall be no manual cleaning of sewers. Suitable technology identified.
• All states and UTs to replace conventional energy meters by pre-paid smart meters in 3 years, this will give consumers the freedom to choose supplier and rate as per their requirements.
• ₹22,000 crore to be provided to power and renewable energy sector in 2020-21: Budget
• ₹6000 crore allotted to Bharat Net programme: FM Sitharaman
• Beti Bachao, Beti Padhao has yielded tremendous results: FM
• High-speed train between Mumbai and Ahmedabad will be actively pursued: Sitharaman.
• National Logistics Policy will soon be released, creating single window e-logistics market: FM
• Steps will be be taken to attract external commercial borrowing and FDI in the education sector
• Budget allocates ₹27,300 crore for development of industry and commerce.
• Digital refund of duties and taxes of Centre, states and local bodies to exporters from this year
• National Technical Textiles Mission to be introduced, with a four-year implementation period, with an outlay of ₹1,480 crore
• More Tejas-type trains will connect tourist stations: FM
• Delhi-Mumbai expressway will be completed by 2023
• ₹3.6 lakh crore allocated for Jal Jeevan Mission.
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