Here's all that you need to know about Union Budget 2020

Senior Congress leader P Chidambaram has criticised government's move over LIC disinvestment mentioned in the Budget and added that the government is clueless

"We welcome the moves proposed by the government to introduce special measures for perishable goods in Budget 2020. Measures like adding refrigerated coach in trains for transportation of perishable goods like milk, meat and fish will be a game changer for the meat retailer industry. Also, the government's steps to boost fish production to 200 lakh tonnes by 2022-2023 is going to bring about a cheer to the marine farmers. Skill development fund allocation by the government for the youth in the rural sector to provide jobs in the fisheries segment are the steps that were required to boost the meat and seafood retail, as well as enhance the rural sentiments and provide more opportunities for growth. Seamless national cold supply chain for perishables through PPP Model for swift transportation on national and international routes is a welcome change to cater to the demands of the domestic as well as global markets,” says Nishanth Chandran, Founder & CEO, TenderCuts

“The Finance Minister stays committed to beat critics by announcing a digital refunds of duties and taxes to exporters. This will go a long way in swaying India to be an export oriented economy and will massively tilt the balance of foreign exchange favorably,” says Anil Talreja, Partner, Deloitte India

Even as finance minister announced new tax slabs, Sensex plunges by nearly 600 points, settles at 40,140.62.

FM clarified that the new tax slabs are optional. 

New simplified personal I-T regime proposed, reduced rate of 10% for income from rs 5 lakh to 7.5 lakh, Rs 7.5 to 10 lakh - 15%, Rs 10 lakh to 12.5 lakh - 20%, 12.5 lakh to 15 lakh - 25%, above 15 lakh - 30%

Government pegs GDP nominal growth at 10% 

India will host G20 presidency in 2022 - Rs 100 cr for its preparation

Government allocates Rs 5958 cr for J&K and Ladakh 

Would like to reassure taxpayers that we remain committed to taking measures to eliminate tax harassment: FM

Rs 20,000 crore for renewable energy sector 

Government allocates Rs 3000 crore for skill development

Rs 3,150 crore allocated for the ministry of culture in 2020-21

FM proposes budget provision of Rs 85,000 crore in 2020-21 for welfare of SC and other backward classes

Rs 1.7 lakh crore provided for transport infrastructure in 2020-21

One lakh gram panchayats will be connected to the optical fibre programme: FM

We have approved Rs 3.6 lakh crore for Jal Jeevan Mission to provide safe drinking water to rural India: FM

A very focused safe water 'Jal Jeevan Mission' and sanitation programme 'Swachh Bharat Yojna' have been launched to tackle health concerns: FM 

Pradhan Mantri Kisan Urja Suraksha evem Utthan Mahabhiyan (PM KUSUM) to be expanded to provide 20 lakh farmers in setting up standalone solar pumps: FM 

We shall help 15 lakh farmers solarize their grid-connected pumpsets: FM