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    Home»Business»An unboxing of the Budget 2020 with a side of bettering your Personal Finances
    Business

    An unboxing of the Budget 2020 with a side of bettering your Personal Finances

    Girish ShettiBy Girish ShettiFebruary 4, 2020Updated:October 29, 20205 Mins Read
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    The Budget 2020 has brought mixed feelings among the common man as well as some industry
    experts. Although the longest ever budget speech has brought relief to some it has aroused
    confusion in most others. We got some clarity by watching Akash Banerjee’s ‘Unboxing Budget
    2020 – Highlights & Analysis’. While he provided us with some much-needed information about
    the Budget 2020 in simple language, he also talked about an interesting opportunity to trade
    and earn.

    Read on to check out our favourite bits from the video.

    He begins the video by discussing the challenges that were in front of our Finance Minister, but,
    also gives hope that certain announcements made by her, if executed well, will help increase
    the lowest GDP we have had in 11 years.

    Taxes

    The new Income Tax slabs have led to a sense of excitement among people, but it includes a
    lot of ifs and buts. So, it’s best to consult an expert before we jump to any conclusions. He also
    talks about how the Bank deposit cover has been increased to Rs. 5 lakhs from Rs.1 lakh. If
    anything, it does bring some assurance to the depositors regarding the safety of their hard-
    earned money. Amendments to Companies Act are being proposed as the government has
    finally realized that the tax system is currently very oppressive. Decriminalization of certain civil
    offenses, no tax harassment, and amendment of the I-T Act to allow for faceless appeals have
    all been mentioned by her. A scheme has been proposed to close the pending cases, which
    seemed like a step in the positive direction by the government as the issues have been
    recognized and measures are being taken to eradicate them.

    Agrarian crisis

    FM Sitharaman has proposed a 16-point action plan to boost agriculture. Addressing this crisis
    which all of us know about, is at least one step towards betterment. About 6.11 crore farmers
    are to be insured through the prime minister’s insurance scheme and the Central government is
    still committed to double farmer’s income by 2022. Their current reluctance in revealing the
    farmers’ suicide data makes us question the commitment, but it is something we might see in
    the coming year.

    Steps to improve the economy

    One of the most important factors when it comes to countering economic slowdown is
    Infrastructural Spending. Five new smart cities are planned to be built in partnership with public
    and private institutions. In more important information, 1.7 trillion has been allocated by our FM
    for transport infrastructure. This is so critical because this can lead to economic growth. Setting
    up 9000 km of economic corridor, monetization of a total of 12 lots of highway bundles by 2024,
    more Tejas-like trains, Delhi-Mumbai expressway completion by 2023 and developing 100 more
    airports by 2024 are some of the major promises made by the government.
    In the line of positive moves, one major proposal is also that there will be 100% tax exemptions
    on Sovereign wealth Funds’ investments on infrastructure projects. Which is basically an
    invitation for big-budget projects to invest in India without any taxes.

    In what’s more expensive and what’s getting cheaper

    Imported military equipment prices will be reduced. Certain mobile components that are made in
    India and fingerprint reader have gotten cheaper. Unfortunately, imported refined vegetable oil
    and chewing tobacco also got expensive. Imported headphones, PCB of mobile phones, glass
    beads, artificial flowers, wooden furniture, toys, household appliances, combs, hairpins, and
    most importantly imported electric vehicles and parts got expensive.

    Fundraising through LIC IPO

    Government plans to raise funds through LIC IPO which is going to be controversial since the
    chairman of LIC, MR Kumar had said in November 2019 that there is no need to sell LIC now.
    He was saying that there is still a scope of growth in LIC despite the slowdown. It is also quite
    evident with the 45% premium growth in the first 9 months of FY18 as opposed to premium
    growth in the private sector which was around 20.7%. This means LIC is a profit-making PSU
    and yet the government is planning to sell it while the initial plan for disinvestment was to sell
    non-strategic PSUs which seems to be not working.

    ESOP taxation

    Until now, the rule was that whether you apply for stock options or not, you had to pay the taxes.
    The new rule says that now you only have to pay if you exercise your tax options or sell your
    stocks or leave the company.
    These are small moves that were not implemented earlier but can help Startup India to grow if
    executed well.

    Also, the FM has not said anything about long term capital gain stocks and that the stock market
    remained 1000-points down.

    Wondering what to do in such a market scenario?

    Along with his unboxing of the budget 2020, Akash Banerjee talks about a shining ray of hope
    for new and seasoned investors alike – Upstox. You can invest in stocks, build your long-term
    savings, beat inflation, and that too at home with your phone. A successful start-up, now
    supported by industrialists like Ratan Tata, it also provides 0 brokerage for long term
    investments. Very soon, it will also provide the ability to spend in global markets.

    Upstox is also offering free opening of Demat account for a limited period of time! To avail this
    opportunity, click on the link in the description of Akash’s ‘Unboxing Budget 2020 – Highlights
    & Analysis’ video.

    You also get several trading tips and free advisory services worth upto Rs. 28,000 along with a
    user-friendly app that is available in Hindi as well.

    Improve the Economy by investing right. Invest in shares and mutual funs in such successful
    companies just by clicking

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    Girish Shetti

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