India's Finance Minister Nirmala Sitharaman is presenting the much-awaited budget today (February 1, 2020). This budget is considered to be very important in the year of the weakest growth of the last decade. All the hopes including a reduction in tax slab, relief package for farmers, optimizing the business environment are from this budget. Earlier on Friday, Finance Minister Nirmala Sitharaman presented the economic survey.
Union Budget 2020 Live: Farmers' income will double under PM Kusum scheme
16 big announcements have been made for the farmers in the budget: -
1. Enforcement of Modern Agriculture Land Act by state governments. 2. A big scheme will be run for the water system in 100 districts so that farmers do not face any problem of water. 3. Farmers' pumps will be connected to solar pumps through the PM Kusum scheme. In this, 20 lakh farmers will be linked to the scheme. Grid pumps of 1.5 million farmers will also be connected to solar. 4. Use of Fertilizer Balance, so that the information about the use of Fertilizer in crops can be increased to the farmers. 5. NABARD will take the warehousing, cold storage present in the country under its control and it will be developed in a new way. More warehouses, cold storage will be built in the country. PPP model will be adopted for this. 6. Announces Blessed Laxmi Yojana for women farmers, under which women will be linked mainly in seed related schemes. 7. Krishi Udaan Yojana will be started. This scheme will be started on International, National route. 8. Rail will also be run for perishable schemes including milk, meat, fish.
Budget 2020 Live: Foreign investment reached the US $ 284 billion
In the survey, the rate of economic growth has been estimated to be 6 to 6.5% in the financial year 2020-21. However, GDP growth is estimated to be less than 5% in the current financial year. The survey has focused most on the expansion of the export sector. Taking lessons from the Chinese model, the world's rich countries have been targeted to produce. With the expansion of the export industry, it is estimated to create 4 crore jobs by 2025 and 8 crore jobs by 2030.
Union Cabinet approves budget, soon this year's budget will come