Union Budget 2020: Finance Minister Nirmala Sitharaman presented the Union Budget 2020-21 in the parliament today. Various new schemes and polices were announced during the budget presentation in the different sectors. Read the complete article to know what all schemes and policies were announced during the budget presentation by our Finance Minister.
List Of NEW Schemes To Be Launched:
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Village Storage Scheme:
- To be run by the SHGs to provide farmers a good holding capacity and reduce their logistics cost.
- Women, SHGs to regain their position as Dhaanya Lakshmi
New scheme NIRVIK to be launched
To achieve higher export credit disbursement, which provides for:
- Higher insurance coverage
- Reduction in premium for small exporters
- Simplified procedure for claim settlements.
- Kisan Rail is to be set up by Indian Railways under PPP (Public Private Partnership) model to transport perishable goods. This will help in building a seamless national cold supply chain for perishables goods can be transported quickly.
- To build a seamless national cold supply chain for perishables (milk, meat, fish, etc. o Express and Freight trains to have refrigerated coaches.
- Krishi Udaan to be launched by the Ministry of Civil Aviation: Both international and national routes to be covered to transport perishable goods.
National Technical Textiles Mission to be set up:
- With four-year implementation period from 2020-21 to 2023-24.
- At an estimated outlay of Rs 1480 crore.
- To position India as a global leader in Technical Textiles.
‘Vivad Se Vishwas’ scheme, with a deadline of 30th June, 2020, to reduce litigations in direct taxes:
- Waiver of interest and penalty – only disputed taxes to be paid for payments till 31st March, 2020.
- Additional amount to be paid if availed after 31st March, 2020.
- Benefits to taxpayers in whose cases appeals are pending at any level.
Scheme for Revision of duties and taxes on exported products to be launched.
- Exporters to be digitally refunded duties and taxes levied at the Central, State and local levels, which are otherwise not exempted or refunded.
A scheme to provide subordinate debt for entrepreneurs of MSMEs
Mapping of India’s genetic landscape- Two new national level Science Schemes to be initiated to create a comprehensive database.
Scheme anchored by EXIM Bank and SIDBI to handhold MSMEs in exports markets
A scheme to encourage the manufacture of mobile phones, electronic equipment and semi-conductor packaging is also proposed.
List of Schemes To Be Expended:
Jan Aushadhi Kendra Scheme- Expansion of Jan Aushadhi Kendra Scheme to all districts by 2024.
NABARD Re-finance Scheme to be further expanded.
PM Jan Arogya Yojana
- More than 20000 empanelled hospitals under More than 20,000 empanelled hospitals under PM Jan Arogya Yojana
Nikshay Poshan Yojana
- Coverage under Nikshay Poshan Yojana (Rs. 35 Lakh)
Ayushman Bharat scheme
- In this scheme, “TB Harega Desh Jeetega” Campaign launched to end TB by 2025
- PM-KISAN beneficiaries to be covered under the KCC scheme.
Deen Dayal Antyodaya Yojana – 0.5 crore households mobilized with 58 lakh SHGs for poverty alleviation.
PM Jan Arogya Yojana (PMJAY):
- Rs. 6400 crore (out of Rs. 69,000 crore)
- More than 20,000 hospitals already empanelled under PM Jan Arogya Yojana (PMJAY).
- Viability Gap Funding window proposed for setting up hospitals in the PPP mode.
- Aspirational Districts with no Ayushman empanelled hospitals to be covered in the first phase.
- Targeting diseases with an appropriately designed preventive regime using Machine Learning and AI.
PM-KUSUM to be expanded:
- 20 lakh farmers to be provided for setting up stand-alone solar pumps.
- Another 15 lakh farmers to be helped to solarise their grid-connected pump sets.
- Scheme to enable farmers to set up solar power generation capacity on their
fallow/barren lands and to sell it to the grid.
Jan Aushadhi Kendra Scheme
- This scheme will offer 2000 medicines and 300 surgicals in all districts by 2024.
- 100 more airports to be developed by 2024 to support Udaan scheme.
New scheme to provide subordinated debt for entrepreneurs of MSMEs by the banks
o Would be counted as quasi-equity.
o Would be fully guaranteed through the Credit Guarantee Trust for Medium and
Small Entrepreneurs (CGTMSE).
o The corpus of the CGTMSE would accordingly be augmented by the government.
A Partial Credit Guarantee Scheme for the NBFCs formulated post the Union budget 2019-20 to address their liquidity constraints.
o New mechanism to be devised to further
Pradhan Mantri Gram Sadak Yojna
- The Scheme was launched in 2000.
- The Pradhan Mantri Gram Sadak Yojana (PMGSY), was launched by the Govt. of India to provide connectivity to unconnected villages as part of a poverty reduction strategy.
- On 18th December 2019, Union Minister Launched the 3rd Phase of Pradhan Mantri Gram Sadak Yojna.
Budget Allocation [in crore]
Pradhan Mantri Awas Yojana
- The scheme was launched in June 2015, with an aim to provide affordable housing to urban and rural poor.
- The beneficiaries of this scheme include Economically Weaker Section (EWS), low-income groups (LIGs) and Middle Income Groups (MIGs).
- The annual income cap is up to Rs 3 lakh for EWS, Rs 3-6 lakh for LIG and Rs 6 + -18 lakhs for MIG.
Integrated Child Development Services
- It was launched on 2nd October 1975
- CCEA has approved four sub-schemes under Integrated Child Development Services (ICDS).
- The four schemes include Anganwadi services, the program for adolescent girls called Sabla, Child Protection Services, and National Creche Scheme
Direct Benefit Transfer(DBT) LPG
- The Direct Benefit Transfer of LPG (DBTL) or PAHAL (Pratyaksh Hanstantrit Labh) scheme was earlier launched on June 1, 2013
- It required the consumer to mandatorily have an Aadhaar number for availing LPG Subsidy.
Pradhan Mantri Swasthya Suraksha Yojana (PMSSY)
- The Pradhan Mantri Swasthya Suraksha Yojana (PMSSY) aims to provide affordable healthcare facilities in different parts of the country and improve medical education.
- The first phase in the PMSSY has two projects
(a) Setting up of six AIIMS
(b) Upgrading existing Government medical colleges