Union Budget 2020

Finance Bill 2020 – Highlights

The Union Budget was presented by Mrs..Nirmala Sitharaman, Hon’ble Finance Minister of India on 1st February, 2020

The budget of 2020, the first year of new decade has been presented in the backdrop of a slowing down world economy and a new incurable virus threatening the lives of millions of people all over the world, the Coronavirus. The finance minister of India laboured hard to present the budget which could have been a game changer in the economic lives of the 1.25 billion people of India. The vision was vast, the detail was arduously presented but the people who heard her speech and then went back to read the fine print were not sure that this is the medicine that the economic life of the country needed to rejuvenate itself.

Fiscal deficit was sought to be contained at 3.8% for 2019-20 and 3.5% for 2020-21 and for this deviation from the FRBM Act was sought by the FM.

The four things which to my mind stand out in this budget’s direct tax proposals and alarm bells are likely to ring in respect of the consequences of these all around the world where Indians live.

For more details please click here S.R. Dinodia_Union Budget 2020_Highlights