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4 February 2020 | 1 min read

Renewable Energy, Agriculture & Tourism – A Breakdown of The Union Budget 2020

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On Saturday, the Finance Minster Nirmala Sitharaman announced her second Financial Budget for the country. Luckily for us, we have a concise breakdown of the same for those who are keen to understand it. Click here to know more.  

In a significant boost for taxpayers, the budget has proposed a new optional income tax structure for those who are willing to forego existing exemptions and deductions. Other vital pointers include –

  1. The impact of the union budget on industries like information technology could be decisive. There has been an allocation of Rs. 8,000 crore for a National Mission on Quantum Computing and Technology. Internet connectivity to 100,000+ Gram Panchayats.
  2. Among the budget announcements for the agriculture sector was the setting up of Kisan Rail through the PPP model to transport perishable goods quickly. The government also plans to expand the PM KUSUM scheme for solar pumps to cover 2 million farmers. Farmers will be incentivized to go solar as well.
  3. The renewable energy sector also got a boost with a budget announcement of INR 20,000 crore
  4. The tourism sector should benefit from an infusion of INR 2,500 crore – that’s more reasons to travel, right?

Read more highlights here.

by Mary Martina
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