The Constitution of India has a provision (Article 112) for such a document called Annual financial statement which usually refers to the term Budget. The budget is a statement of receipt and expenditure of a government in a financial year which begins on 1 April and ends on 31 March.
Union Budget 2019-2020 Highlights
Finance Minister Nirmala Sitharaman presented the Union Budget 2019-20 in the Parliament on July 05, 2019. Finance Minister Nirmala Sitharaman became only the second woman in the history of independent India to present the Union Budget. Former Prime Minister Indira Gandhi was the first and only woman till now to have presented the Union Budget.
You can download the PDF of Union Budget 2019-20 from the given below link:
Highlights of Union Budget 2019-20: Download PDF
Major Highlights of Union Budget 2019-2020:
- National Common Mobility Card was launched by PM Modi in March 2019. This will enable people to pay multiple transport charges across India. This card runs on RuPay card and allows users to pay bus charges, parking charges, etc.
- Vision for the decade: From 1.85 trillion dollars in 2014, the economy has reached 2.7 trillion US dollars in five years; it is well within our capacity to reach 5 trillion dollars in the next few years.
- "One Nation, One Grid" for power availability to states at affordable rates.
- 100% FDI will be permitted for insurance intermediary.
- Social Stock Exchange under SEBI proposed
- Credit Guarantee Enhancement Corporation will be set up in 2019-20, action plan to deepen markets for long-term bonds with a specific focus on infra sector to be put in place.
- New Space India Limited, a public sector enterprise, has been incorporated to tap the benefits of R&D carried out by Isro. The company will spearhead commercialization of various space products.
- NRI portfolio investment route to be merged with foreign portfolio investment route.
- Gandhipedia is being developed to sensitize youth and society at large on positive Gandhian values.
- To make India open defecation free by October 2, on the 150th birth anniversary of Mahatma Gandhi.
- Over 2 crore Indian made digitally literate under PMGDISHA (Pradhan Mantri Gramin Digital Saksharta Abhiyan).
- JalShakti Mantralaya will work with states to ensure HarGharJal for all rural houses by 2024, under JalJeevan Mission.
- Propose to establish the National Research Foundation to fund and coordinate research in India.
- National Sports Education Board would be set up under Khelo India Scheme.
- 'Study in India' initiative will be started for the exchange of foreign student.
- Non-performing Assets (NPAs) of commercial banks have reduced by over Rs 4 lakh crore over the last year.
- PSBs are now proposed to be further provided Rs 70,000 crore of capital to boost credit.
- Nari tu Narayani scheme for improving the condition of women in the country.
- StandupIndia will be continued for the entire period coinciding with the 15th Finance Commission, i.e. 2020 - 2025.
- Govt proposes to return the regulation authority over housing finance sector from the National Housing Board to the RBI
Check other links also:
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