Sitharaman said there are several low-cost digital modes of payment available such as BHIM UPI, UPI-QR Code, Aadhaar Pay, NEFT and RTGS that can be used to promote less-cash economy
Finance Minister Nirmala Sitharaman unveiled the proposals while presenting the budget for the fiscal year ending March 31, 2020 to parliament
Unveiling the first Budget of Modi 2.0 government, Finance Minister Nirmala Sitharaman highlighted the need to invest towards job creation in small and medium enterprises
FM says govt to continue with strategic divestment of select CPSEs; strategic disinvestment of Air India also to be re-initiated
Corporate tax on companies with turnover of up to Rs 400 crore has been slashed to 25 per cent from current 30 per cent
While the speech has focused on the main thrust areas, benefits have been provided to specific sectors like affordable housing and electric vehicles
The fiscal deficit goal for the year that began on April 1 was lowered to 3.3% of gross domestic product from 3.4% set in February's interim plan, Finance Minister Nirmala Sitharaman said.
Experts added that the interest exemption upto Rs 3.5 lakh for affordable housing would help boost residential sales
Tabling the Modi 2.0 government's maiden budget in Parliament, Finance Minister Nirmala Sitharaman proposed measures to boost education, infra, transport sector
The fiance minister also said the RBI will get regulation authority of housing finance sector
Sitharaman said Aadhaar card for NRIs with Indian passports will be issued after their arrival in India, without waiting for the mandatory 180 days
The minister further said that by 2022, every single rural family except those who are unwilling to take the connection will have an electricity and a clean cooking facility.
Aiming to attract big players, single-brand retail firms may be permitted to open online stores before setting up brick-and-mortar shops if they bring in over $200 mn FDI
FM says economy, which stood at $1.85 trillion five years back, has reached $2.7 trillion now, and is within capacity to reach $5 trillion in the next few years
Banks have recovered Rs 4 lakh crore due to the Insolvency and Bankruptcy Code and other means effected in the past four years, the FM said
Finance Minister Nirmala Sitharaman's Budget proposes pan-India transportation card for bus, rail and waterways.
Under the present rule, NRIs with Indian passport are required to wait for 180 days to get the Aadhaar card.
The finance minister also said that a National Sports Education Board will be set up under the Khelo India scheme
Sitharaman also said that 10,000 new farmer producer organisations will be be set up
She proposed to start a television programme exclusively for startups that will be executed by startups themselves