Interspersed with some feelgood decisions, such as lower personal income tax rates and a hike in the deposit insurance cover for bank depositors (from ₹1 lakh to ₹5 lakh), were some bold decisions like listing the Life Insurance Corporation of India and abolishing the Dividend Distribution Tax.
A caring society
Ms. Sitharaman expounded on three themes — aspirational India (a better life for all), economic development for all (yielding more space for the private sector) and creating a caring society — in her record-breaking speech of more than two-and-a half hours, aimed at boosting in comes and purchasing power. Inflation, she said, was well-contained and the economy’s fundamentals remained strong.
To boost farm incomes and the rural sectors, the Finance Minister allocated ₹2.83 lakh crore and fixed ₹15 lakh crore target for agriculture credit, along with 16 new and renewed measures. Another ₹1.7 lakh crore was allocated for transport infrastructure and ₹40,740 crore for the energy sector.
This story is from the February 02, 2020 edition of The Hindu.
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This story is from the February 02, 2020 edition of The Hindu.
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