Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>Track the live updates underway right now on the <a href="https://www.businessinsider.in/budget/news/union-budget-2020-live-updates-news-and-highlights/liveblog/73824572.cms" data-type="tilCustomLink" target="_blank">Business Insider India live blog</a>.</li><li>Finance minister Nirmala Sitharaman will be presenting the annual budget 2020 to the Parliament on February 1, 2020.</li><li>The upcoming budget is one of the most challenging ones for the Narendra Modi government as it needs to address a long list of crucial economic concerns.</li></ul><ul><li>Find the <a href="https://www.businessinsider.in/budget/news/budget-2020-top-highlights-and-updates-from-finance-minister-nirmala-sitharaman/articleshow/73828229.cms?src=hp_ts" data-type="tilCustomLink" target="_blank">highlights of the budget speech</a> here. </li></ul>The state of Indian economy changed drastically since the Modi government took charge last year. With all segments of the Indian economy eagerly waiting to see if their concerns are addressed, union budget 2020 is one of the most anticipated events this year. Some of the crucial issues the budget needs to address immediately are slowing GDP, low consumer confidence, discouraging rates of private consumption, increasing unemployment, lack of availability of credit, and dwindling growth in home incomes. Watch: India’s ‘make or break’ budget 2020⁠— once-in-a-career crisis offers Finance Minister Nirmala Sitharaman a fertile ground for creativity 
 <div type="Youtube" id="-80L-8QB_WQ" title="Budget 2020 | India’s ‘make or break’ budget 2020 | Business Insider India" thumbUrl="https://i.ytimg.com/vi/-80L-8QB_WQ/mqdefault.jpg"></div>


 Schedule of budget 2020 The Finance Minister Nirmala Sitharaman will present the budget at 11 am on February 1, 2020, which happens to be a Saturday. On January 31, Friday, a day in advance before the upcoming budget session, Krishnamurthy Subramanian, the chief economic advisor of the country presented the economic survey. After 2015-16, the budget will be presented on a Saturday for the first time. During the first tenure of the Modi government, it was decided that the union budget would be presented on the first working day of February instead of the last working day of February, which will mean the budget sessions have been advanced by a month. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/budget-2020-must-make-way-for-socially-responsible-investing-in-india-heres-why/articleshow/73426606.cms" data-type="tilCustomLink" target="_blank">'Budget 2020 must make way for socially-responsible investing in India'⁠— here's why</a> Here's a dedicated section for all you need to know about the Budget 2020: <a href="https://www.businessinsider.in/budget" data-type="tilCustomLink" target="_blank">Budget Insider</a>. Since the move, the tradition has continued till date through all the subsequent budgets of the Modi Sarkar. The advancing of the date of union budget was to ensure that the budgeting process starts in February will be completed before the end of March and the spending exercise for the next fiscal year could start on April 1. Where to watch the budget session 2020 live? Here is a list of some channels where you can watch the budget session 2020 live at 11 hours on Saturday, February 1, 2020: <a href="https://loksabhatv.nic.in/">Lok Sabha Television</a>, <a href="https://webcast.gov.in/lstvlive/">Lok Sabha live webcast</a>, <a href="https://www.timesnownews.com/livetv/timesnow/video">Times Now</a>, <a href="https://www.timesnownews.com/livetv/etnow/video">ET Now</a>, <a href="https://aajtak.intoday.in/">Aaj Tak</a> 
 <div type="Article" hostid="261" msid="73753459" title="Exclusive: TCS CEO shares his hopes and fears from the budget 2020" mstype="2" mssubtype="0"></div>


 What the budget on a Saturday can impact The Parliament and stock exchanges which usually remain shut on two days of the weekend would be open on February 1, 2020 on Saturday due to the scheduling of the budget session on this day. As per the RBI regulations, banks are generally open on the first, third and fifth Saturdays of the month. Since unions have decided to go for a two-day bank strike on wage related demands, the banking services might be affected on Saturday, February 1, which happens to be the first Saturday of the month. Major concerns expected to be addressed in budget 2020 Leading economists believe that Budget 2020 will be highly focused on resurrecting the slumping economy and boosting up the private consumption rate. Some of the other other key issues expected to be addressed in the upcoming budget are tax cut on personal income, checking the consumer inflation, tax concessions on housing schemes, lowering the GST of FMCG and consumer durable products, increasing the interest rates, increase the deduction limits of Section 80 C, and DDT and LTCG relief. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/indian-taxpayers-expectation-from-the-budget-2020/articleshow/73804969.cms" data-type="tilCustomLink" target="_blank">Indian taxpayers' expectation from the budget 2020</a> <a href="https://www.businessinsider.in/budget/news/cybersecurity-doesnt-have-any-specific-allocation-in-the-budget-but-the-government-knows-its-a-pressing-concern/articleshow/73771330.cms" data-type="tilCustomLink" target="_blank">Cybersecurity doesn't have any specific allocation in the budget but the government knows it's a pressing concern</a> <a href="https://www.businessinsider.in/defense/news/indias-budget-allocation-for-defence-has-remained-fairly-static-for-the-past-five-years/articleshow/73153930.cms" data-type="tilCustomLink" target="_blank">Budget 2020: Five charts that explain what you can expect from India’s defence expenditure this year</a>

Union Budget 2020 date, time, schedule ⁠— all you need to know

The Indian steel industry, which is not seeing its days of glory as of now, found a ray of support when the government recently announced the minimum import price (MIP) on 173 steel products ranging between USD 341-752 per tonne. 
 
While the industry is going through the toughest phase that one can recall in the recent past, India has still grown positively in steel consumption, and remains the only major emerging economy to do so. 
 
However, the industry players have come under extreme pressure because of huge losses that they have faced owing to the declining demand of steel in the country. Not only this, even the export scene is not phasing out very well because international markets have surplus capacities, because of which major international players like Japan, South Korea, China, Turkey and Brazil are selling steel even below their marginal cost, leading to a global crisis in the industry. 
 
If that continues to be the case, the steel industry, which is already under heavy loans despite not having made much profit will continue to deteriorate, which is why all eyes are set on the Union Budget 2016-17 that comes later this month. 
 
<a href="https://i.ytimg.com/vi/nCdqKjS3y2o/maxresdefault.jpg">Image source</a>

Only MIP won’t do any good to the steel sector; all eyes set on Union Budget

The <keyword id="3246313" type="UNKNOWN" weightage="100" keywordseo="steel-industry-of-india">steel industry of India</keyword> is passing through a rough patch these days, and for a strong boost, it has pinned its hope on the minimum import price (MIP) that was announced recently. Knowing that the annual budget plays an important role in the revival of the industry, it expects more relief measures from the upcoming budget, said JSW Steel CMD Sajjan Jindal. 
 
Not only this, the steel sector is also hopeful that the country's economy should grow by 8 to 8.5%, so that the industry can revive and flourish. Jindal was addressing reporters in Mumbai on the sidelines of 'Make in India' Week yesterday. 
 
JSW is a part of the OP Jindal group, and standing at USD 11 billion, it is one of the major players in the steel space in the country. 
 
Talking of the developments so far, the government had imposed an MIP on 173 steel products ranging between USD 341-752 per tonne, which would remain so for a period of six months only. 
 
Jindal also had his two cents to share on the upcoming budget. He said, "It should be a growth-oriented Budget. It has to look at micro factors and ensure how it would be possible to increase country's GDP from existing level of 7-7.5 per cent to 8-8.5 per cent in future." 
 
<a href="http://www.stiavelli.com/wp-content/uploads/2014/02/Steel-Industry-Electric-Motors-Industrial-Fan-Blowers-Stiavelli-FTA-3.jpg">Image source</a>

Steel industry pins hopes on upcoming budget for revival

Each year, the Indian Union Budget holds the nation's economic pulse. In 2024, the focus was razor-sharp: catalysing the <keyword id="19916569" type="General" weightage="20" keywordseo="job-market" source="keywords">job market</keyword> and bridging the ever-widening skill gap, as the <keyword id="19916979" type="General" weightage="20" keywordseo="unemployment" source="keywords">unemployment</keyword> figures kept upward trajectory and dissatisfaction over government’s measures grew among the younger demographic. As a response, <keyword id="19955368" type="General" weightage="20" keywordseo="budget-2024" source="keywords">budget 2024</keyword> unveiled a meticulously crafted strategy, a multi-pronged attack to empower India's youth. The Union Budget 2024-2025 intends on focussing on youth and <keyword id="19898684" type="General" weightage="20" keywordseo="employment" source="keywords">employment</keyword>, prompting Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="Nirmala-Sitharaman" source="keywords">Nirmala Sitharaman</keyword> to allocate Rs. 1.48 lakh crore for <keyword id="19907717" type="General" weightage="20" keywordseo="education" source="keywords">education</keyword>, employment and <keyword id="20374219" type="General" weightage="20" keywordseo="skilling" source="keywords">skilling</keyword>. Further, Modi 3.0’S budget includes 5 schemes to provide opportunities to 4.1 crore youth with a central outlay of Rs. 2 lakh crore over a period of the 5 years. <div type="Article" hostid="261" msid="111944393" title="Here&amp;#39;s a quick overview of PM Modi 3.0 government&amp;#39;s first budget, to be presented by FM Nirmala Sitharaman today" mstype="2" mssubtype="0"></div><h2>Nirmala Sitharaman announces 3 schemes for employment linked incentives:</h2><ul><li>Scheme A (First-timers): This will benefit first-time employees, providing one month’s wages to new entrants in all formal sectors. As per Sitharaman, Direct Benefit Transfer of one month salary in 3 instalments to first-time employees as registered in the EPFO will be up to ₹15,000. The eligibility limit will be a salary of ₹1 lakh per month. The scheme will benefit 210 lakh youth.</li><li>Scheme B (Job creation in manufacturing): This will provide incentives to both employees and employers for the first 4 years of employment under EPFO guidelines. It is expected to benefit 30 lakh youth and will cover additional employment across all sectors.</li><li>Scheme C (Support to employers): This will support employees with additional employment in all sectors by reimbursing employers up to ₹3,000 per month for two years for each additional employee's EPFO contributions. The scheme aims to incentivise the employment of 50 lakh additional people.</li></ul><h2>Improving participation of women in workforce</h2>As a part of Budget 2024-2025, Nirmala Sithraman announced that Modi 3.0 will focus on improving women participation in the workforce. The Government will focus on increasing women participation in the workforce. Some measures that will be taken include setting up hostels and creating partnerships to organise women-specific skilling programs and women self-help groups. <div type="Article" hostid="261" msid="111946291" title="Union Budget 2024-25 key highlights: Standard deduction to increase to Rs 75,000 from Rs 50,000 under new tax regime" mstype="2" mssubtype="0"></div> <h2>Additional incentives for employment </h2>Sitharaman announced the launch of a scheme where 500 top companies will provide internship opportunities to one crore youth in five years. Internship allowance of Rs. 5000 per month along with one-time assistance of Rs. 6000 to be provided, the Finance Minister also said that the companies will be expected to earn the training cost and 10% of the internship cost from their CSR funds. According to Mr. Ramesh Alluri Reddy, CEO at TeamLease Degree Apprenticeship, this “significant investment in skill development programs and the incentivization of industries to adopt comprehensive apprenticeships lays a solid foundation for a future-ready workforce. Integrating on-the-job training (OJT) as a mandated component of degrees, in collaboration with industry partners, allows students to gain invaluable practical experience, even if the training is not necessarily on-site.” “This initiative is a welcome move towards formal job creation, bridging the gap between theoretical education and real-world application, making graduates more job-ready.” <h2>Focus on skilling</h2>The Finance Minister said that the model skilling loan scheme will be revised to facilitate loans up to Rs 7.5 lakh. Further, a new scheme focussing on skilling will benefit 20 lakh individuals and ensure the set up of 1,000 training institutes and newly designed courses. <h2>Education loans</h2>The Union Budget 2024-25 proposes a revision of the Model Skill Loan Scheme to help 25,000 students every year. E-vouchers for loans up to Rs. 10 lakh for higher education in domestic institutions will be given directly to 1 lakh students every year with interest subvention of 3% of loan amount, said FM Sitharaman. Meanwhile, in the Interim Budget detailed in February 2024, Finance Minister Nirmala Sitharaman highlighted a notable increase in higher educational institutes and women enrolling in STEM courses over the past decade, attributing these improvements to the National Education Policy (NEP) 2020. Further, contrary to expectations, funding for the University Grants Commission (UGC) was reduced by 60.99%, dropping to Rs. 2,500 crore from the previous year's revised estimate of Rs. 6,409 crore. Meanwhile, grants for central universities were increased by over Rs 4,000 crore, with a total allocation of Rs 15,928 crore for the financial year 2024-25. <div type="Article" hostid="261" msid="111951205" title="Budget 2024-25 – Changes to tax slabs, increased standard deduction and other changes to direct taxation" mstype="2" mssubtype="0"></div> SEE ALSO: <a href="https://www.businessinsider.in/budget/news/union-budget-2024-live-updates-finance-minister-nirmala-sitharaman-key-announcements-23-july/liveblog/111942008.cms" data-type="tilCustomLink" target="_blank">Budget 2024 Live Updates: FM Sitharaman announces comprehensive review of the Income Tax Act 1961</a> <a href="https://www.businessinsider.in/budget/news/govt-to-provide-11-11-lakh-crore-towards-capex-for-2024-25/articleshow/111950700.cms" data-type="tilCustomLink" target="_blank">Govt to provide ₹11.11 lakh crore towards capex for 2024-25</a>

You Searched For "Indian Union Budget" and got 4 results

Union Budget 2020 date, time, schedule ⁠— all you need to know

BI India Bureau

Only MIP won’t do any good to the steel sector; all eyes set on Union Budget

BI India Bureau

Steel industry pins hopes on upcoming budget for revival

BI India Bureau

Budget 2024: Record allocation of Rs 1.48 lakh crore for education, employment and skilling!

Ashmita Gupta

Popular Keywords

Buying Guides