Pune, Feb 1, 2020: Union Budget 2020-21 presented by the Finance Minister Nirmala Sitharaman is a Average Budget not a exclusively budget. This Budget is for benefit the Agriculture sector, Digital India, Start Ups, Education & Employment to all , Finance , Taxation etc. are the important fields which were focused in the Budget Speech , this speech lies around three main/ broad points :
1) Aspirational India : Includes Wellness, Agriculture and whole society as such
2) Economic Development: Industry, Commerce , Start Up India , Employment etc.
3) Caring for Society : Health , Education , Skill etc.

The Key points in the Budget Speech which I would like to state are:
1) To create New Economy there should be Data Centre Park throughout the Country, Digital Connectivity etc. good proposal
2) Use of Quantum Technology should be increased which includes Cyber Security , Connectivity. Innovative concept which is essential now a days.
3) There will be Tax Payers Charter in the form of a new Statute for Free of Tax Harassment of Tax Payers, no criminal liability for the cases of civil nature. Nice Move by the Government
4) In Finance Sector : Deposit Insurance increased from 1 lac to 5 lakh
5) In Direct Taxes & Indirect Taxes following proposed changes :
a) Corporate Tax Rate cut down 15 % and 22 %
b) Income Tax Rates decreased in few cases but slabs of Income Tax have increased from 4 to 6 now which will increased definitely the Income Tax Working, also option is given to Tax Payer to adopt Old Regime with Deductions or New Regime without deductions which will be very confusing and hard for a Tax Payers to determine or opt .
c) Faceless Appeal is a good step
d) Tax Audit Turnover increased to 5 crore which is good for Tax Payer not the Consultant.
e) Boost to the Startup upto 100 crores, Electronic Registration for Charitable Institution under Income Tax is a good move as it will be easy take registration.
f) Vivaad se Vishwas Scheme for Income Tax will help Tax Payers to solve dispute.
g) In GST : Proposed are the Simplified New Forms coming in the month of April 20, Reforms made in GST , Changes are always been made in GST Rate of Tax , New System of E Invoices coming , QR Code for Payment of GST & Data Analysis of Input Tax Credit availed by the Dealer will be sorted out. Such Reforms under GST are Welcome Step

Overall analysis of the Budget is that it’s an average Budget , but proposed reforms are good but it has to be implemented properly and in organised manner.