To simplify the income tax law, I proposed to bring a new simplified personal income tax regime where in income tax rates will be significantly reduced for the individual taxpayers who forego certain deductions and exemptions.

Under the new regime, sir on individual shall be required to pay tax at the reduced straight off 10% for income between five LAX to 7.5 legs against the prevailing 20%.

So anyone who's earning between 5 to 7.5 laxer today Pacey 20%.

We are now reducing it in the new regime, which is devoid of exemptions 10% only so 20% comes down to 10% sir.

The next example for income between 7.5 lacks toe 10 legs earlier said about 5 to 7.5.

Now I'm saying about 7.5 to 10 black.

So for income between 7.5 black 10 black, he or she will pay at the reduced straight off 15% only against the current prevailing 20% similar any for the income between 10 blacks to 12.5 lacks presently, the tax sister T percent for income between 10 lack to 12.5 black.

The present prevailing rate is 30%.

That is now being brought down to 20%.

So the income between I spoke about 10 to 12.5 legs.

Now 12.5 legs to 15 max will be taxed at the moment.

Well, 150.5 to 15 lacks is taxed at 30%.

No doors earning between 12.5 blacks to 15 lacks will be charged at 25%.

Only so incomes above 15 lacks will be continued at 30% but no exemptions that thought those earning upto five lacks shall not pay any tax either in the world regime or in the new religion.

For example, a person earning 15 back off rupees in a year and not availing any deductions whatsoever will pay one lack 95,000 as compared toe to lack 73,000.

That is paying now in the world, Richie.

So this his tax burden shall be reduced by ₹78,000.

The new tax regime, sir, shall be optional for tax space, so there's no compulsion.

Those who want to be in the wall regime can continue to be in the old raging in the world.

Rates in the whole sets off exemptions and its directions, but also wished to come into the new are welcome to come into the new this year.

I proposed to bring a skin similar to the indirect tax sub Publish Waske for reducing the litigation even in the direct taxes.

Under the proposed the Spa say about selfish scheme, a taxpayer would be required to pay only the amount of disputed tax on will get complete waiver, off interest and penalty provided he pays by 31st March 2020.

Also available.

This Kim after 31st March 2020 will have to pay some additional amount, but even then they can come in.

The scheme will remain open still 30th June 2020.

In order to increase the attractiveness off the Indian equity market and to provide relief to a large class off investors, I proposed to remove the DDT and adopt the classical system off dividend distribution tax under which companies would not be required to pay the DDT.

The dividend should be taxed only in the hands of the recipients at their applicable rates.

Further in order to remove the cascading effect.

I also propose to a lab deduction for the dividend received by holding company from its subsidiary.

The removal of DDT would lead to estimated annual revenue for gone off 25,000 close to address liquidity constraints off the N B F seas and the housing finance corporations.

Post the Union Budget 19 2020.

The government formulated a partial guarantee credit guarantee scheme for the envy of seas.

To further the support off providing liquidity, a mechanism would be device tw government will offer support by guaranteeing securities that are so floated.

So just a very quick word on this investment.

Listing off Cos on company's stock exchange Stock exchanges brings discipline and it disciplines the company and provides access to financial markets and unlocks it.

It also gives opportunity for retail investors to participate in the went so created.

The government now proposed to send a part off.

It's holding in the N.

I C.

By way, the robust mechanism is in place to monitor the health off all shed yule commercial banks.

On that depositors money is absolutely safe.

The Deposit Insurance and Credit Guarantee Corporation has bean permitted to increase deposit insurance coverage for a depositor which is now standing at one lack off rupees toe five.

Black bird Possible.

It is proposed to sell the balance holding off government off India's I'd be I bank, toe private, retail and institutional investors through the stock exchange.

There's a need, sir, to take further steps to bring in transparency and greater professionalism in public sector banks.

The government will take appropriate measures towards the scent.

I proposed to make necessary amendments to the Factor Regulation Act 2011.

This will enable NDF sees to extend invoice financing to the M S Emmys through trades, thereby enhancing the economic and financial sustainability working capital.

The credit remains a major issue for them.

Assamese.

It is proposed to introduce a scheme to provide subordinated debt for entrepreneurs off M s Emmys this'll subordinated debt.

Toby provided by banks would contest Kwasi Equity on would be fully guaranteed through the credit guarantee Trust for medium and small on trip Eunice, the corpus of the CGT, a missy would according accordingly, be augmented for by the government.

More than five lack Amos Emmys have benefited from restructuring off debt permitted by R B I in the last year.

The restructuring window wants to end on 31st March 2020.

Government.

It has asked R B.

I consider extending this window to 31st March 2021 1 more year so that whoever wants they can go on approach and are based in voice financing.

Loans product will be launched.

This would obviate the problem of delayed payments and consequential cash flow.

Mismatches for their missing me for selected sectors such as pharmaceuticals or two components and others.

We proposed to extend a hand holding support for technology of gradations are indie business strategy planning, and so on.

A scheme off ₹1000 crore.

Will Biggs anchored in the Exim Bank together over the site B bought these institutions would contribute 50 crores each.

A national logistics policy will soon be released.

Among other things, it will clarify the role of union, government, state government and also the key regulators.

It will create a single window, the logistics market and focus on generation of employment skills and making a mess Emmys competitive.

The new education policy will be announced soon.

He did spend that our education system needs greater in flew off finance toe, attract talented teachers in a weight and build better lass.

Therefore, steps would be taken to enable sourcing, external commercial borrowings and FDA so as to deliver higher quality education.

Students in general stream as opposed to those in service is or technologies stream sciences and technology stream need their employment opportunities improved.

About 150 higher education institutions will start apprenticeship embedded degree diplomat courses by March 2021.

It is proposed to start a degree level full fledged online education program.

This shall be offered only by institutions who are ranked within top 100 in the national institutional ranking frame book.

Initially, only a few such institutions would be asked to offer such programs on in SAT exam is proposed to be held in Asian and African countries.

It shall be used for benchmarking foreign candidates who received scholarships for studying in Indian higher education centers.

A national police university and a national foreign six science university are being proposed in the domain off policing Science Foreign six.

Science and cyber foreign six.

It is proposed to attach a medical college to an existing district hospital in PPP.

More those states that fully allow for authorities off the hospital to the medical college on wish to provide land.

That concession would be able to receive viability gap funding from the center.

The government will therefore encourage large hospitals with sufficient capacity to offer resident doctors, the D A and B and FNB courses under the national bowled off examinations.

I propose that a bridge special bridge course be designed by the ministries of health skill development together with professional bodies to bring in equal Willens language requirements off.

Various countries need also to be included.

All of these should be achieved through a special training package.

Our government proposes to provide about 19 9300 clothes for education sector in 2021 on about 3000 clothes for skill development, 16 action points.

But the 1st 1 is to encourage those state comments who undertake implementation off following modern laws which are already passed and issued by the central government.

First Mortal Agriculture Land Leasing Act off 2016 Mortal Agricultural Produce and Livestock Marketing Act off 2017 Mortal agricultural produce and life stock contract farming and service is Promotion and Facilitation Act off 2018 so three model agriculture related loss.

We would like state governments to consider favorably.

Second off the 16 action points.

Water stress related issues are now a serious concern across the country.

Our government is proposing comprehensive measures for 100 water stressed district's.

The PM Qassam scheme removed farmers is dependence on diesel and cruising and linked pump sets toe solar energy.

No, I proposed to expand the scheme to provide 20 lack farmers for setting up a standalone solar pumps.

Further, we shall also help another 15 Mac farmers soul arise the grid connected from sets.

In addition, US came to enable farmers to set up solar power generation capacity on the follow on barren lands on descended toe grid would be operation list.

Our government should encourage balanced use off all kinds off 40 lice is including the traditional organic and other in a wayto 40 lice is this is necessary step to change the prevailing incentive regime which encourages excessive use off chemical fertilizes.

Nobody will undertake an exercise to map and geo tagged them.

In addition, we propose creating bear hosing in line with Eros development and regulator the authority WDR norms, Our government will provide viability gap funding for setting up such efficient warehouses in the block or tar look level.

This can be achieved where states can facilitate with the land on our own PPP move women s A jeez can avail off Madre or Nevada assistance and regain their position has done your next me we've heard off then election he often on many office are familiar with Daniel Looks me on.

I'm sure many of us do recall the days when women in the villages where the ones who kept the seed for the entire village and they would distribute seats as and when a farmer required it.

So we would like to restore women s egy groups toe play that role or at the village level as Dunya Next Mi's being assisted by Madre on being assisted by a number of Indian railways will set up a kiss on brain through PPP arrangements.

There shall be refrigerated coaches in express and freight trains as well so that perishable goods can be quickly, easily within the country transported on the benefit will accrue to the farmers.

Chrissy Woo Don will be launched by the Ministry of Civil Aviation, not just trains.

Chrissy wouldn't will be launched by the Ministry of Civil Aviation on international and national rules.

This'll will immensely help improve value realization, especially in not feast on the tribal districts.

So I had mentioned in my July budget zero budget natural farming.

That's that shall also be included in our activities.

The portal on J V Kitty Online National Organic Products market will also be strengthened.

So the next point 11th financing on negotiable warehousing receipts e N w.

What has already crossed more than 6000 close financing on negotiable Vero Single sees this will be integrated with E national agriculture markets.

The electronics one.

The next pointers the 12th off.

The 16 non banking finance companies and co operatives are active in the agriculture credits space.

The nobody refinance Kim will be further expanded.

Agricultural credit target for the year 2021 has been set at 15.

Lack close 15 black clothes agricultural credit of an infant.

All eligible beneficiaries off PM Kison will be covered under the KCC Kison credit card scheme.

Mon Drega would be docked tail to develop for the funds.

Further official Facilitate doubling off milk processing capacity from 53.5 million metric tons TOW 108 million metric tons by 2025 from 53.5 million metric tons off milk 208 million metric tons by 2025.

R Government proposes to put in place a framework for development, management and conservation off marine fishery resources.

15th youth and coastal areas benefit through fish processing and market By 2022 23 I proposed racing fish production to 200 lack tons.

Proposed racing fish production to 200 lack Tom's growing off Al gay seaweed and cage culture will also be promoted through 3477.

Soccer, Metra's and 500 Fish Farmer producer organizations Way hope The rural youth, particularly those who are in the coastal areas and inland fishing areas, will work US Soccer Metra's and also form 500 fish farmer producer organizations for the sector, comprising off agriculture, allied activities, irrigation and rural development and a location off 2.83 Lack cross has Bean made 2020 21 and it just divided, among other things, for agriculture, irrigation and allied activities.

1.6 like groups for rural development and punch IittIe Raj 1.23 lack growths both put together It is about 1.73 Lack 2.8 lack eighth relax, Cruise 2.83 tackles.