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Union Budget 2020 LIVE: Major...

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Union Budget 2020 LIVE: Major Relief For Taxpayers, Tax Slabs Rejigged

Catch all live updates of Nirmala Sitharaman's second budget with BOOM's Budget Live Blog

Published - 1 Feb 2020 9:58 AM IST

Finance Minister Nirmala Sitharaman will present the Union Budget before the Lok Sabha at 11 am on Saturday. This will be the second budget of the re-elected government of Prime Minister Narendra Modi. Finance Minister Nirmala Sitharaman will look to kickstart the economy while attempting a balancing act between growth and fiscal prudence.

The fiscal deficit, from April to November, is already at 115% of the budgeted deficit, which is at 3.3% of GDP. Unemployment is at a 45-year high according to the Periodic Labour Force Survey, pegging the unemployment rate for 2017 - 2018 at 6.1%. India's growth in the second quarter of financial year 2019 - 2020 stood at 4.5%, the lowest in six years, with the Reserve Bank of India cutting India's growth forecasts for the ongoing financial year from 6.1% to just 5%. Institutions such as the International Monetary Fund and the State Bank of India (SBI) too have followed suit, having cut India's growth projections in their own forecasts. In December 2019, official data showed inflation at 7.35%, breaching the Reserve Bank Of India's medium-term upper ceiling of retail inflation of 6%. This figure was at a three-year high, being driven primarily by food inflation, which rose at 14.12% in December.

The budget also comes at a time when the government has taken disinvestment decisions to shore up its finance, such as putting 100% of Air India up for sale and giving incentives for investment by cutting corporation tax, up to 10 percentage points for corporations.

Live Updates

1 Feb 2020 11:23 AM IST
16 actions points to enhance agriculture and farmer welfare
1 Feb 2020 11:15 AM IST
Over the last 2 years, 60 lakh new taxpayers were added, 40 crore returns were filed: FM
1 Feb 2020 11:08 AM IST
This is the Budget to boost income and enhance purchasing power: FM
1 Feb 2020 10:44 AM IST
The fiscal deficit will be in focus today. From April - Nov, the fiscal deficit was 115% of the budgeted deficit of this year, pegged at 3.3% of GDP. Till December, it hit 132% of this estimate.
At the end of April - Nov, the government's fiscal deficit stood at ₹8.06 lakh crore, 115% of the the estimate for FY 2019-2020. #Budget2020 https://t.co/r90mHcpHSr
— BOOM FactCheck (@boomlive_in) January 29, 2020
1 Feb 2020 10:37 AM IST

The Lok Sabha is constitutionally superior in all financial matters, with all financial bills bound to originate there. #Budget2020 https://t.co/fMa4vHqxCz
— BOOM FactCheck (@boomlive_in) February 1, 2020
1 Feb 2020 10:35 AM IST

The main account of central government, it holds receipts of the government, and bears its expenditure. #Budget2020 https://t.co/IJmlSqTz0l
— BOOM FactCheck (@boomlive_in) February 1, 2020
1 Feb 2020 10:34 AM IST
We've written a few explainers too!

This year, Union Finance Minister Nirmala Sitharaman will present the budget for FY 2021 in Lok Sabha on February 1. #BudgetSession #BudgetSession2020 https://t.co/EjUlhK2XLl
— BOOM FactCheck (@boomlive_in) February 1, 2020
1 Feb 2020 10:13 AM IST
Growth muted in the Economic Survey for the current fiscal
Just a recap from yesterday's Economic Survey: Revised growth estimates for this fiscal revised downward to 5%. Estimates for growth for the upcoming fiscal at 6% to 6.5%, citing a lower base.
1 Feb 2020 10:10 AM IST
Tax relief? More money in the hands of rural consumers?
BOOM has rounded up a list of top expectations from the Budget.

BOOM rounds up the top five expectations of media houses from #Budget2020 which will be presented by FM Nirmala Sitharaman in the Lok Sabha today. @FinMinIndia @nsitharamanoffc #Budget2020 https://t.co/VAiRDdYHiw
— BOOM FactCheck (@boomlive_in) February 1, 2020
1 Feb 2020 10:06 AM IST
The National Stock Exchange and the Bombay Stock Exchange are trading today. Anything for markets on the cards?
Read our story: Budget 2020: BSE To Remain Open For Trade On Budget Day

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Union Budget 2020 LIVE: Major Relief For Taxpayers, Tax Slabs Rejigged

Catch all live updates of Nirmala Sitharaman's second budget with BOOM's Budget Live Blog

Live Updates

16 actions points to enhance agriculture and farmer welfare

Over the last 2 years, 60 lakh new taxpayers were added, 40 crore returns were filed: FM

This is the Budget to boost income and enhance purchasing power: FM

The Lok Sabha is constitutionally superior in all financial matters, with all financial bills bound to originate there. #Budget2020 https://t.co/fMa4vHqxCz
— BOOM FactCheck (@boomlive_in) February 1, 2020

The main account of central government, it holds receipts of the government, and bears its expenditure. #Budget2020 https://t.co/IJmlSqTz0l
— BOOM FactCheck (@boomlive_in) February 1, 2020

We've written a few explainers too!

This year, Union Finance Minister Nirmala Sitharaman will present the budget for FY 2021 in Lok Sabha on February 1. #BudgetSession #BudgetSession2020 https://t.co/EjUlhK2XLl
— BOOM FactCheck (@boomlive_in) February 1, 2020

Growth muted in the Economic Survey for the current fiscal

The National Stock Exchange and the Bombay Stock Exchange are trading today. Anything for markets on the cards?
Read our story: Budget 2020: BSE To Remain Open For Trade On Budget Day

Tags

Trending Searches

Live Updates

16 actions points to enhance agriculture and farmer welfare

Over the last 2 years, 60 lakh new taxpayers were added, 40 crore returns were filed: FM

This is the Budget to boost income and enhance purchasing power: FM

The Lok Sabha is constitutionally superior in all financial matters, with all financial bills bound to originate there. #Budget2020 https://t.co/fMa4vHqxCz— BOOM FactCheck (@boomlive_in) February 1, 2020

The main account of central government, it holds receipts of the government, and bears its expenditure. #Budget2020https://t.co/IJmlSqTz0l— BOOM FactCheck (@boomlive_in) February 1, 2020

We've written a few explainers too! This year, Union Finance Minister Nirmala Sitharaman will present the budget for FY 2021 in Lok Sabha on February 1. #BudgetSession #BudgetSession2020https://t.co/EjUlhK2XLl— BOOM FactCheck (@boomlive_in) February 1, 2020

Growth muted in the Economic Survey for the current fiscal

The National Stock Exchange and the Bombay Stock Exchange are trading today. Anything for markets on the cards?Read our story: Budget 2020: BSE To Remain Open For Trade On Budget Day

Tags

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The Lok Sabha is constitutionally superior in all financial matters, with all financial bills bound to originate there. #Budget2020 https://t.co/fMa4vHqxCz
— BOOM FactCheck (@boomlive_in) February 1, 2020

The main account of central government, it holds receipts of the government, and bears its expenditure. #Budget2020 https://t.co/IJmlSqTz0l
— BOOM FactCheck (@boomlive_in) February 1, 2020

We've written a few explainers too!

This year, Union Finance Minister Nirmala Sitharaman will present the budget for FY 2021 in Lok Sabha on February 1. #BudgetSession #BudgetSession2020 https://t.co/EjUlhK2XLl
— BOOM FactCheck (@boomlive_in) February 1, 2020

The National Stock Exchange and the Bombay Stock Exchange are trading today. Anything for markets on the cards?
Read our story: Budget 2020: BSE To Remain Open For Trade On Budget Day