{"id":848,"date":"2020-02-06T09:30:05","date_gmt":"2020-02-06T09:30:05","guid":{"rendered":"https:\/\/www.propertypistol.com\/blog\/?p=848"},"modified":"2020-02-07T05:46:19","modified_gmt":"2020-02-07T05:46:19","slug":"a-boost-from-tax-to-infrastructure-union-budget-2020","status":"publish","type":"post","link":"https:\/\/www.propertypistol.com\/blog\/a-boost-from-tax-to-infrastructure-union-budget-2020\/","title":{"rendered":"A boost from Tax to Infrastructure: Union Budget 2020"},"content":{"rendered":"\n<p><em>A new Income tax regime proposed by the Government in <a href=\"https:\/\/www.propertypistol.com\/blog\/budget-2020-real-estate\/\">Budget 2020 <\/a>that comprises significant changes in tax slabs. This optional tax regime will give options to the taxpayers to either choose the new tax slab or continue with the old one. <\/em><\/p>\n\n\n\n<!--more-->\n\n\n\n<figure class=\"wp-block-image is-resized\"><img decoding=\"async\" src=\"https:\/\/www.propertypistol.com\/blog\/wp-content\/uploads\/2020\/02\/Tax.jpg\" alt=\"\" class=\"wp-image-853\" width=\"601\" height=\"450\" srcset=\"https:\/\/www.propertypistol.com\/blog\/wp-content\/uploads\/2020\/02\/Tax.jpg 620w, https:\/\/www.propertypistol.com\/blog\/wp-content\/uploads\/2020\/02\/Tax-300x225.jpg 300w\" sizes=\"(max-width: 601px) 100vw, 601px\" \/><\/figure>\n\n\n\n<p>On\nFebruary 1, 2020, the 1st Union Budget of the 3rd decade in the 21st century\nwas out. Presented by the Finance Minister of India Smt. Nirmala Sitharaman,\nthe speech that lasted for two and a half hours aimed at energizing the Indian\neconomy through a combination of short, mid and long-term measures.&nbsp; <\/p>\n\n\n\n<p>The budget has been structured keeping 3 aspects in mind &#8211; Economic development, aspirational India and caring society.<\/p>\n\n\n\n<h6 class=\"wp-block-heading\"><strong>Here are some key highlights from budget\n2020<\/strong><\/h6>\n\n\n\n<p><strong>Tax simplified on Individual\u2019s Income: <\/strong>The tax amount is reduced by 5 to 10\npercent on individuals\u2019 income.&nbsp; This new\nscheme is also optional, and one can choose to remain under the old income tax\nscheme. <strong><\/strong><\/p>\n\n\n\n<p><strong>Rs 1.5 lakh of additional deductions on\nhome loan interest extends till March 2021:<\/strong> With an aim to boost the real estate\nsector for the housing demand finance minister Nirmala Sitharaman proposed an\nextension for 1 year for availing additional Rs. 1.5 lakh tax deduction on home\nloan interest till March 2021. This scheme was introduced in last year\u2019s budget\nfor first time buyers up to 45 lakhs. <\/p>\n\n\n\n<p><strong>1.7 trillion allocated for transport<\/strong>:&nbsp;&nbsp;\nThe transport sector gets 1,70,000 crore which includes investments in\nrailways, roads, shipping, ports and civil aviation. The finance minister in\nher speech stated that the government encourages NHAI, get good\ncommercialization of highways to raise finance.<em> Under the Bharatmala economic corridor, 9,000 km is being built, 6,000\nkm of inter-feeder corridors, 2,000 km of coastal connectivity, 2,000 km of\nborder and international connectivity roads, 5,000 km of national corridors ,\n800 km of expressways and 2,500 new access-controlled highways&#8230;Our budget\nallocation has increased by nearly three times since financial year 2014-15,<\/em>\u201d\nunion road transport and highways minister Nitin Gadkari said.<\/p>\n\n\n\n<p><strong>5 new Smart Cities: <\/strong>Under smart cities mission launched by\nprime minister Narendra Modi, the finance minister announced that the\ngovernment will develop new smart cities in collaboration with states under PPP\n(public private partnership) model.&nbsp;&nbsp;\nThis gives an opportunity to maximise the benefits of three economic\nactivities: the revitalisation of manufacturing activities, the economic\ncorridors and technological demands.<\/p>\n\n\n\n<p><strong>Dividend income becomes taxable in\nrecipients hands:&nbsp; <\/strong>Budget 2020 has made dividend income from\nmutual funds share taxable in the hands of recipients. &nbsp;the applicable\nincome tax rates to the individual and abolish the DD hitherto levied on\ndividend income before distribution by the company or mutual fund house. <\/p>\n\n\n\n<p><strong>Budget 2020 unveils flagship NIP (National Infrastructure\nPipeline) scheme<\/strong>: To create job\nopportunities and to boost India\u2019s infrastructure government has launched 103\nlakh crore for this scheme. Sitharaman stated that their focus is on\ninfrastructure for economic development and 6,500 projects across sectors under\nNIP. <strong><\/strong><\/p>\n\n\n\n<p>The union budget is a road map for fiscal consolidation. The measures announced are primarily focused at instilling a financial discipline into the system along with recognition and rewards for wealth creation. The road map of the journey towards a USD 5.0 trillion economy has carefully created an enabling environment for ease of doing business, attracting investments and creating employment through skill development and technical education.<\/p>\n\n\n\n<p style=\"background-color:#e0b98f;font-size:12px\" class=\"has-background\"><em><strong>Disclaimer:&nbsp;<\/strong>The views expressed above are for informational purposes only based on industry reports and related news stories. Propertypistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A new Income tax regime proposed by the Government in Budget 2020 that comprises significant changes in tax slabs. This optional tax regime will give options to the taxpayers to either choose the new tax slab or continue with the old one.<\/p>\n","protected":false},"author":2,"featured_media":856,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_eb_attr":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[53],"tags":[52],"class_list":["post-848","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-union-budget","tag-budget-2020","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Budget 2020: Modi government may increase spending on infrastructure - PropertyPistol Blog.<\/title>\n<meta name=\"description\" content=\"Read an article on, Budget 2020 &amp; Government&#039;s take on increasing spending on infrastructure on PropertyPistol Blog.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertypistol.com\/blog\/a-boost-from-tax-to-infrastructure-union-budget-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Budget 2020: Modi government may increase spending on infrastructure - 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