#HIGHLIGHTS OF UNION BUDGET 2020-21.

[rav01]

Real Estate Developers: Transforming the Landscape with Innovation and Vision

Introduction How often have you admired a magnificent building and found yourself praising the developer behind it? The answer is likely countless times. We frequently encounter stunning landmarks that define a location and capture the attention of onlookers. But the true magic lies not just in envisioning a dream but in turning it into a tangible reality. This, however, is only part of the story. The real hallmark of quality lies in adding value to a project that resonates with both investors and customers. Let’s explore how real estate developers are revolutionizing the industry and shaping the future.

Beyond Bricks and Mortar Real estate developers are often misunderstood as mere builders, whose sole responsibility is constructing physical structures. In reality, their role is multifaceted and interdisciplinary, crucial to the overall success of a project. Developers go beyond designing and building; they carefully select prime locations, incorporate premium features and amenities, and ensure the property adds value to every stakeholder. Their commitment doesn’t end with handing over the property but extends to delivering the promised benefits and satisfaction.

The Modern Real Estate Elixirs According to the Indian Brand Equity Foundation (IBEF), the demand for affordable housing will dominate the real estate sector. Urban areas currently face a housing shortfall of 10 million units, with an additional 25 million units needed by 2030. Commercial real estate is also booming, driven by new startups, business expansions, and corporate offices. Data centers alone are projected to require an additional 15-18 million square feet by 2025. Meanwhile, luxury housing is witnessing significant growth, with a 130% increase in sales recorded in the first half of 2023, as per Savills India.

Maximizing Returns Through Modern Marketing Modern developers have moved beyond traditional marketing strategies, introducing innovative investment options. Fractional ownership, for instance, offers annual yields of 8-10%, while commercial property investments provide rental returns of around 9% annually, coupled with a value appreciation of 5-10% per year. Housing Price Index (HPI) data highlights an 8.5% annual price rise in properties, with top cities showing a 3.5% annual appreciation.

From Homes to Smart Living The focus has shifted from just homes to smart and sustainable living. By 2022, the demand for smart homes reached 13 billion units, with an expected annual growth rate of 12.84% by 2025. Developers now prioritize eco-friendly materials, energy-efficient designs, and sustainable amenities like solar power, rainwater harvesting, and green roofs. With buildings contributing 26% of greenhouse gas emissions, sustainable construction practices are becoming imperative. Certifications such as GRIHA and LEED are setting new benchmarks for environmentally responsible development.

Government Support and Future Prospects Government initiatives have further accelerated growth in the real estate sector. The Union Budget 2024 allocated ₹11.1 lakh crore for infrastructure, representing 3.4% of the GDP. Over the past few years, infrastructure spending has increased fourfold, reaching ₹10 lakh crore in 2022-23, up from ₹4.39 lakh crore in 2020-21. Initiatives like PMAY, RERA, and REITs have created an ecosystem that benefits developers, investors, and homebuyers alike.

Gearing Up for the Future In 2022, over 328,000 housing units were launched in India’s residential market, and PMAY has delivered 6.5 million units. Programs like SWAMIH have further supported affordable and mid-income housing projects. These advancements underline the sector’s trajectory towards a promising and sustainable future.

Conclusion Real estate developers play a transformative role in reshaping the property sector. Their evolving responsibilities align with modern demands for eco-friendly and sustainable urban development. The statistics and trends mentioned above illustrate the industry’s bright future and the indispensable role of developers in building better, smarter, and greener communities.

[eric0207-universe-blog]

Nirmala Sitharaman, The finance minister has announced the Indian Union Budget 2020-21. Check out the key highlights of union budget Government of India.

[vilaspatelvlogs]

Budget 2021: जानिए सरकार के पास कहां से आता है पैसा जिससे तैयार होता है देश का बजट

Budget 2021: जानिए सरकार के पास कहां से आता है पैसा जिससे तैयार होता है देश का बजट

नई दिल्ली: देश के बजट से हर किसी की उम्मीदें जुड़ी होती हैं. देशवासी उम्मीद करते हैं कि उन्हें टैक्स में छूट मिल जाए या किसी और तरीके से सरकार उनकी मदद करे, जिससे साल भर जेब पर बुरा असर न पड़े. 1 फरवरी 2021 यानी आज, को भारत का बजट पेश होने वाला है. फाइनेंस मिनिस्टर निर्मला सीतारमण संसद में आज लोगों को उनकी उम्मीदों का बजट पेश करने वाली हैं. इस बार भी हर सेक्टर के लिए धनराशि का आवंटन होगा.  ये भी…

[vsplusonline]

LIVE Budget 2020 Speech (बजट २०२० लाइव स्पीच): सैलरी वालों के लिए बड़ी खबर, बदल गया इनकम टैक्स स्लैब लेकिन शर्तें लागू

New Post has been published on https://apzweb.com/live-budget-2020-speech-%e0%a4%ac%e0%a4%9c%e0%a4%9f-%e0%a5%a8%e0%a5%a6%e0%a5%a8%e0%a5%a6-%e0%a4%b2%e0%a4%be%e0%a4%87%e0%a4%b5-%e0%a4%b8%e0%a5%8d%e0%a4%aa%e0%a5%80%e0%a4%9a-%e0%a4%b8%e0%a5%88/

LIVE Budget 2020 Speech (बजट २०२० लाइव स्पीच): सैलरी वालों के लिए बड़ी खबर, बदल गया इनकम टैक्स स्लैब लेकिन शर्तें लागू

Union Budget 2020 Live Updates: मोदी सरकार 2.0 का दूसरा बजट (Union Budget 2020) पेश हो चुका है. वित्त मंत्री निर्मला सीतारमण ने 11 बजे लोकसभा में बजट पेश किया. उन्होंने अपने बजट भाषण पर जीएसटी को ऐतिहासिक बताया है. वित्त मंत्री ने ऐलान किया अप्रैल 2020 में जीएसटी का आसान वर्जन लाया जाएगा.

डवांडोल अर्थव्यवस्था को पटरी पर लाने के लिए वित्त मंत्री के सामने कई चुनौतियां हैं. निर्मला सीतारमण के इस दूसरे बजट से कॉरपोरेट से लेकर आम आदमी को कई तरह की उम्मीदें हैं. सीतारमण अपने बजट भाषण में इनकम टैक्स स्लैब में बदलाव का ऐलान कर सकती हैं. वहीं, किसानों और युवाओं के लिए भी बड़े ऐलान की उम्मीद है.

बजट २०२० से जुड़े सभी अपडेट्स के लिए जुड़े रहे News18 Hindi के साथ…

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[goldstarnation]

MARCH 2020 GOLD STAR MEDIA SCHEDULES & REVIEW

Members may earn 3 points each (up to 6 points) for writing, by the end of April 7 KST:

A solo para of 400+ words based on their monthly schedule (does not count toward your monthly total).

A thread of six posts (three per participant, including the starter) based on their monthly schedule.

Threads do not have to take place directly during an important date listed on the schedule, but must be related to what the muse is mentioned to be doing in the paragraph explaining their schedule/the company’s schedule for the month and/or their thoughts on the mentioned activities or lack thereof.

These schedules may be updated throughout the month if new information needs to be added.

Reminder: February schedule posts are due by the end of March 7 KST.

Overall Company

There’s not much to report at Gold Star this month. Idols are doing well, with different groups and soloists in different phases of touring or comebacks or, more likely, preparation for one of the two. It feels like the higher-ups are comfortable with the company’s successes, but comfortable isn’t always a good thing when any other company would be happy to take Gold Star’s spot.

Important dates:

N/A

Gold Star Soloist 1

After much wait from fans, she’ll be releasing a single this month. It’s a pre-release for her album and having no music video doesn’t stop it from being the great success all of her releases are and hitting number one. It seems to be a good omen for the rest of the album, though nothing less was expected from management or her fans. This month, she’ll be focused on promoting the single before she finishes up album preparations next month.

Important dates:

March 15: Release of “Love Poem”, promotions continue until April 15.

Gold Star Soloist 2

The first stop of her Korean tour last month went off without a hitch and now she’s back for another concert, this time in Gwangju (see January schedule for special stages). While she’s not known for having a very large core fan base, her concerts are popular with the general public, making for a full house for her performances and glowing critical reviews after the fact.

Important dates:

March 14: I AM : RE-BORN tour concert at Kimdaejung Convention Center in Gwangju, South Korea.

Gold Star Soloist 3

“Love Die Young”, which he’s releasing next month won’t have a music video featuring him, as Gold Star has instead opted for the low budget of a lyric video. He should take the extra time to get more than comfortable performing the song live this month. As it’s the last month before his comeback, most of his work is logistics work behind the scenes. Before his comeback, Gold Star also insists he film another cover video of the popular song “Bad Guy”. It’s a song that has found popularity in both Korea and the English-speaking market, so Gold Star wants it to get the attention of both audiences and expand his fan base.

Important dates:

March 22: Release of “Bad Guy” cover video.

March 30: Performance at Seoul Spring Festival Day Concert (see event).

Silhouette

To prepare for the release of their Japanese comeback next month, the members are tasked with filming the music video in the second half of March after learning the choreography in the first half. The music video is simple with choreography shots and singing shots with a total of two outfits that will be given to the members at the shoot instead of sending them through true fittings. It’s pretty low budget, but Gold Star expects to ride the hype of their recent tour in Japan to sell the song instead of a high promotional budget. Earlier in the month, they have a simple photo shoot for men’s magazine Arena Homme Plus.

Important dates:

March 9: Photo shoot for Arena Homme Plus’s April issue.

March 20: "Bad Girl For You” MV filming.

Aria

Aria will be holding their fanmeeting in the second half of the month. For the event, the members are asked to write a short note to fans that will be copied and distributed at the fanmeeting as well as provide management a short list of items they’d like to suggest be included in gift bags for fans at the fanmeeting. On top of fanmeeting preparations, Aria will be called into a concept meeting for their next album near the beginning of the month and will begin recording songs for the album shortly after. Their comeback is slated for June.

Important dates:

March 21: Aria Melodic Fanmeeting at Sejeong University Daeyang Hall in Seoul, South Korea.

March 30: Performance at Seoul Spring Festival Day Concert (see event).

Origin

Their schedule for the past few months has mainly consisted of CF filming and behind the scenes work, but beginning next month, Origin is back to meeting with their fans as they begin holding their Japanese fanmeetings. After their short break last month, they’re expected to be refreshed so that they can jump straight into dance and stage rehearsals for the fanmeetings. 

Important dates:

March 14: Japanese fanmeeting stage outfit fittings.

March 30: Performance at Seoul Spring Festival Day Concert (see event).

Impulse

Their Seven Secrets Fanfest in Bangkok falls around the middle of the month, so the members will have some additional time to practice the vocal or dance covers they’ve chosen for their specified date. Impulse is noted for being extremely popular in the country, so Impulse is expected to do their best to pay back some of their most loyal fans. The dates each member will get to perform their solo cover in the set list is as follows:

March 19: Maknae/main dancer/vocal

March 20: Lead rapper/lead dancer (1st show), Main vocal (2nd show)

March 21: Lead vocal/lead dancer (1st show), Lead rapper (2nd show)

March 22: Main rapper (1st show), Leader/main vocal/lead dancer (2nd show)

Important dates:

March 19: Seven Secrets in Bangkok Fanfest at Union Mall in Bangkok, Thailand (one show).

March 20: Seven Secrets in Bangkok Fanfest at Union Mall in Bangkok, Thailand (two shows).

March 21: Seven Secrets in Bangkok Fanfest at Union Mall in Bangkok, Thailand (two shows). 

March 22: Seven Secrets in Bangkok Fanfest at Union Mall in Bangkok, Thailand (two shows).

Fuse

Now that they’re back in Seoul from their Switzerland trip, it’s time for the Fuse members to begin preparing for their next concert tour. They will only hold the Seoul dates before they make their comeback, but most of the set list will be already existing songs, save for “La Rouge”, a new song that will be on their next album they will record this month in order to rehearse. The members haven’t heard the other new songs decided for their next album yet, but this will give away to the members and fans that they’re going for a more R&B sound than they did with the first two parts of the series. The leader/main rapper/lead dancer/vocal and the lead vocal/rapper will get solo dance section, while the main vocal will get a solo dance highlight near the end of Really Bad Boy (RBB). All members with solo releases will also get a solo stage to perform their most recently released solo song as of the time of the first concerts (please check here to see who this applies to and which song that will be).

Important dates:

March 30: Performance at Seoul Spring Festival Day Concert (see event).

Element

Now that their North America tour is finished, it’s full steam into comeback preparations. This month they’ll learn the choreography and spend hours rehearsing it until they have it down by heart. At the end of the month, they’ll pay a visit to their stylist to try on potential stage outfit and music video outfits. Since they have costumized outfits to fit the concept for this comeback, the fittings will be outside of Gold Star. They’ll be filmed both rehearsing the choreography and going to fittings for the accompanying comeback documentary.

Important dates:

March 21: MV and stage outfit fittings.

Femme Fatale

After BEE’s contract with Mise En Scene ended, Femme Fatale have been chosen as the new ambassadors of the hair brand. It’s an honor to follow in the footsteps of such a legendary group and they’ll film their first CF for the deal early in the month after returning from their Kuala Lumpur tour dates. They have one other tour date this month in Taipei that will be the last date of their Asia tour (and both  will continue to be filmed for their video diaries, along with comeback prep). After that, they return to Seoul for a short time to practice for their comeback and shoot their photo book pictures before flying out to New York from March 16-20 to make some television appearances performing songs from their last comeback and shoot covers for Billboard Magazine. After coming back to Seoul, they’ll shoot their individual teaser videos and film their comeback music video over two days.

Important dates:

March 1: Femme Fatale In Your Area World Tour concert at Malawati Indoor Stadium in Kuala Lumpur, Malaysia.

March 4: Mise En Scene CF filming.

March 8: Femme Fatale In Your Area World Tour concert at Linkou Arena in Kuala Taipei, Taiwan.

March 10: Photo book [2] [3] [4] shoot.

March 16: Performance on The Late Show With Stephen Colbert in New York, NY, USA.

March 17: Cover photo shoot for Billboard magazine.

March 19: Performance on Good Morning America in New York, NY, USA.

March 19: Interview and performance on Strahan and Sara.

March 21: Kill This Love individual teaser videos [lead vocal] [main rapper] [main vocal] [main dancer] shoot.

March 22 & 23: “Kill This Love” MV filming.

[myashpal]

Counting the zeros of 2,00,00,00,00,00,000 in 2020.

The ‘fiscal stimulus’ package of nearly ₹20 lakh crore that was announced on May 12th, by our honourable Prime Minister, is not actually as relieving as it sounds. There will be nothing wrong if I say that the package is transcendent for the ‘Headline Management’ rather than crisis management and it was all about marginalising the screen time of migrant labour distress. It should be kept in mind that the Union budget for year 2020-21 was ₹30.4 lakh crores (to be very precise ₹30,42,230 crores), which is approx. 15% of the GDP of the country. Total GDP of India is ₹190.54 lakh crores (US$ 3.2 trillion)

Last year central government announced a package of ₹100 lakh crores for infrastructure development projects. Now the question arises that if the last years budget of the government was ₹30.4 lakh crore, then how can it announce a package of worth ₹100 lakh crores? Well, “la risposta si trova qui!�� (the answer is here!)

In that package the total budget expenditure of the government (in simple term — engagement of govt. money) was only about ₹7,000-8,000 crores and the remaining amount was to be financed to infrastructure companies by banks as loans. The banks didn’t financed the infrastructure projects because they found that many of the infrastructure companies were already running in huge losses and were turning into NPA’s. As a result, that package halted there only.

Structure of the so-called 20 lakh crores package (as per announced by govt.) —

March 26th, 2020 - ₹1.92 lakh crores

May 06th, 2020 - ₹8.1 lakh crores (by RBI)

May 13th, 2020 - ₹5.94 lakh crores

May 14th, 2020 - ₹3.10 lakh crores

May 15th, 2020 - ₹1.5 lakh crores

May 16th, 2020 - ₹81,000 crores

May 17th, 2020 - ₹40,000 crores

The fact here to be remembered is that - ‘currently we need to restart our economy, not to stimulate it.’ Stimulation is provided when a running economy is going through a slowdown. Presently, we are at 0% growth where all the business enterprises were fully shut since more than 50 days. A slowdown could be stimulated, but not breakdown.

There are three kinds of packages —

Fiscal package - expenditures from the government's earnings for public in form of tax subsidies, direct transfers and injecting funds directly in the economy.

Financial package - government asks banks to provide finance to citizens for boosting economy by liberalising rules for loans or sometimes acting as a guarantor to banks.

Monetary package - RBI decides to infuse liquidity in the economy by reducing repo rate**, so banks can provide loans to public at lower interest rates.

A ‘financial package’ can’t be termed as ‘stimulus’ package because the process of granting a loan entirely depends upon the bank, it is a transaction between a bank and the applicant. Government here, can only be a facilitator among both. Whether bank will sanction/provide a loan or not, depends fully upon the credibility of that applicant.

On May 13th, finance minister Nirmala Sitharaman announced that ₹3.7 lakh crores from the total package of ₹20 lakh crores, would be provided to MSME (Micro, Small and Medium Enterprise) sector as debt finance (loans), guaranteed by the central government. She also added that a 12 month moratorium period will be provided to Small Enterprises.

It must be committed to the memory that — ‘moratorium’ will only be for the principal amount but the interest calculated by banks would be on a ‘compounding’ basis. Compounded calculations of interest for 12 months for a Small Enterprise is not an easy play, where interest rates would be decided by the banks. This package was entirely dependent on the sole discretion of banks, whether to provide loans or not and also upon the enterprise’s willingness to take up a loan. The entire focus of this package is only upon — loan, loan, cheap loan, MSME loan and loan. People are being pushed to a system which is entirely based upon the ‘debt/credit finance’.

Post 9 to 12 months scenario due to this package :

After the period of about one year, we might experience that a majority of depositors will be seen, whose deposits will get eroded in terms of interest. They will not even be getting as much returns as their cost of living or inflation would have been. SBI had reduced its interest rates on the fixed deposits thrice, in the last 4 months.

Indian banks who were already trapped in a web of bad debts will be groaning, because of distribution of these new loans. It is also possible that we may experience a completely new explosive form of debt crisis.

There is also a possibility of bank loan scams making a comeback in the Indian economy on an extensive scale because of political interference for compelling banks to provide loans to the dear ones or relatives of the politicians.

Till February 2020, Indian banks were already burdened with NPA’s of ₹9.9 lakh crores, and government was pressurising them for not sanctioning any more loans because of the growing numbers of NPA’s & frauds. Government was telling banks to clear their balance sheets by various means — bankruptcy code, writing off loans, putting provision funds for bad debts, creating bad banks etc. India’s major pre COVID economic highlights were only about ‘troubles of the banking sector’.

Just with the outbreak of COVID-19, the very first steps took by the RBI were — releasing liquidity of ₹4 lakh crores to banks to provide economic stimulus to various sectors as loans and, reducing the repo rate from 5.15% to 4.40% (cutting it by 75bps), it was the lowest in the history of the Reserve Bank of India. As a result, all the retail loans also hit the record low (in rates and demand), ever since 2009. Finance Minister admitted that banks are sanctioning loans but consumers are not willing to take them. Even one-third amount of the funds that RBI released for various sectors (Mutual Funds, NBFC’s, DISCOMs) were not used by the banks.

On May 4th, 2020, banks returned ₹8.54 lakh crores to the RBI via ‘reverse repo’ window. So, the RBI slashed reverse repo rate window because of this. On this event, FM Nirmala Sitharaman told that banks are not distributing loans and are keeping funds with the RBI. The banks were provisioning funds for future balancing for NPA’s and moratoriums, amid this, the RBI announced that it will not provide any dividends for the current year. Banks were calculating the losses that they had to bear in the coming year due to bad loans & NPA’s.

Suddenly, out of the way, May 12th, 2020 on 20:20hrs, a relief package of ₹20 lakh crores descended, and was announced with idea of “AatmaNirbhar Bharat” (Self-reliant India) by the PM Narendra Modi and was quoted as — “20 lakh crore in 2020”.

The basic default rate in India is close to 15%. So, if we calculate the maximum risk on the government for MSME sector package of ₹3.70 lakh crores, it will be around ₹15,000 - ₹20,000 crores. That also on a condition — ‘if’ these loans will get disbursed and get default, then only these would be repaid from the government treasury. The intent of government was not clear on emphasis to provide new loans to the bad MSME’s which are already in default and running in losses.

The contradiction and ridiculousness —

Just before a month from now (in April 2020), the government was directing banks to pause recoveries/provide moratoriums for a period of 3 months to the people and industries because they hadn’t performed any business operations as everything was completely closed due to the nationwide lockdown. And now (May 2020), the government is telling for those same industries, to take up a new loan to restart their business operations. It is quite obvious in nature that any enterprise will primarily focus to repay the existing/ongoing loans rather than taking up a new one.

The total amount of loans distributed in the Indian Banking System (IBS) is nearly ₹93.8 lakh crores, in this, ₹56 lakh crores is distributed to large industries, ₹11.8 lakh crores to agriculture industry and ₹26 lakh crores are personal/other retail loans including loans to small industries. The small industries for whom the package of ₹3.7 lakh crores was announced, are the industries that are already in debts of ₹10 lakh crores.

Till February 2020, these small industries were requesting the governments for restructuring of their loans and stop recoveries as they were going through a very bad phase due to the slowdown, since 2 years. Now the question is, Why the enterprises who were unable to repay their existing loans and demanding for restructuring of their loans in normal days, would take a new loan in a juncture when there is total ‘uncertainty’ for demands and supplies? Many industrial reports had caveated that a large number of defaults in retail loans will take place in the coming 6-9 months because of the unemployment occurred and occurring during & after the lockdown. The major problem of the Indian economy before the COVID-19 was only the debt-crisis — the debts in company’s accounts, debts in bank’s accounts, debts in state and central government’s accounts, and when the people were already struggling hard to get rid of the debt cycle; they suddenly are being sent back to a system where they should be going to take up another new debt, due to COVID-19 crisis. At last, I would conclude myself with the famous lines of the scholar ‘Nassim Nicholas Taleb’, — “The solution for a debt-crisis in any economy, cannot be a new debt”.

- M. YASHPAL

[magicalmakerrunaway]

KEY HIGHLIGHTS OF UNION BUDGET 2020-21.

KEY HIGHLIGHTS OF UNION BUDGET 2020-21.

KEY HIGHLIGHTS OF UNION BUDGET 2020-21.

Presenting the first Union Budget of the third decade of 21st century, Finance Minister Smt. Nirmala Sitharaman, today unveiled a series of far-reaching reforms, aimed at energizing the Indian economy through a combination of short-term, medium-term, and long-term measures.

The Key Highlights of Union Budget 2020-21 are as follows:

Three prominent themes of…

[agrimentors]

Agriculture Current Affairs 2021-22

By Agrimentors The present book covers various aspects of Agriculture Current Affairs and General Knowledge, including Agriculture Current Affairs 2021-22, Highlights of Union Budget 2021-22, 2020-21 Key Features of Economic Survey, Agriculture Information Portal, Structure. Ministry of Agriculture & Farmers Welfare, Agriculture General Knowledge, Agriculture Census, Schemes / Programmes / Missions of Govt.

[patriotsnet]

Do The Republicans Want To Cut Social Security

New Post has been published on https://www.patriotsnet.com/do-the-republicans-want-to-cut-social-security/

Do The Republicans Want To Cut Social Security

Democrats Urged To Reject Latest Gop Attempt To Hold Social Security ‘hostage’

Donald Trump Might Want To Cut Social Security But Won’t Admit It

Republican Sen. Lindsey Graham on Wednesday said he would be willing to vote to raise the federal debt ceiling in exchange for a policy that could result in cuts to Social Security and Medicare, a proposed trade-off that progressive advocacy groups implored Democrats to reject.

“Fortunately, Democrats can protect Social Security and Medicare by raising the debt ceiling in the forthcoming reconciliation package.”Alex Lawson, Social Security Works

With members of Congress staring down an to increase the debt limitthe amount of money the federal government is legally permitted to borrow to meet its financial obligationsGraham toldBloomberg that he could bring himself to vote yes on a debt ceiling hike if Democrats agree to legislation establishing commissions tasked with crafting Social Security and Medicare “reforms.”

But Social Security Works, a progressive advocacy organization, was quick to warn that Graham’s offer is a thinly veiled trap.

“Lindsey Graham and his fellow Republicans will stop at nothing to cut the American people’s earned Social Security and Medicare benefits,” Alex Lawson, executive director of Social Security Works, said in a statement. “Graham has now telegraphed his party’s intention to demand a commission to cut Social Security and Medicare as the price for raising the debt ceiling.”

Social Security Works and other groups warned at the time that the proposal was nothing more than “a plot to gut Social Security behind closed doors.”

Democrats Have Already Signaled Trumps Budget Is Going Nowhere

While Trump tries to have it both ways by proposing entitlement cuts while claiming hes not really doing that, Treasury Department spokesperson Monica Crowley was somewhat more straightforward during a Monday morning appearance on Fox Business.

Asked by host Stuart Varney if she agrees that the new budget hits the safety net, Crowley said the president understands that Washingtons habit of out of control spending without consequence has to be stopped.

Treasury Secretary Assistant Sec. Monica Crowley defends cuts to entitlements in Trump’s new 2021 budget proposal: “The president also understands that Washington’s habit of out of control spending without consequence has to be stopped.”

Aaron Rupar

But for Trump, not all spending is bad. While his budget cuts non-defense spending by 5 percent, he actually slates defense spending for an increase to $740.5 billion for fiscal year 2021.

Budget proposals are just that proposals. And while Trump insists that Republicans are the ones trying to save entitlements from destruction, the irony is that the truth is exactly the opposite: Entitlement cuts are dead on arrival as long as Democrats control a chamber of Congress.

Related

The viral video of Mike Pence being grilled by an ER doctor about Medicaid cuts, explained

House Budget Committee Chair John Yarmuth alluded to this reality in a statement he released on Sunday blasting Trump for proposing deep cuts to critical programs that help American families.

Republicans Are Pushing Myths About Social Security

Republican politicians want to cut Social Security. They never say so out loud, but their 2016 platform reveals the truth. In the section labeled, Saving Social Security, it proclaims, As Republicans, we oppose tax increases Since Social Security cannot deficit spend and is projecting a shortfall in 2035 if Congress doesnt act, that only leaves benefit cuts.

Representative John Larson , the Chairman of the House of Representatives Subcommittee on Social Security, is trying to force his Republican colleagues into the open. Larson is the sponsor of the Social Security 2100 Act, which increases Social Securitys modest benefits. Additionally, it raises enough revenue to ensure that all benefits can be paid in full and on time through the year 2100 and beyond. Ninety percent of the Democrats in the House of Representatives are co-sponsors, but not a single Republican. Given their refusal to back his bill, Rep. Larson has urged Republicans to offer an alternative proposal to no avail.

Non-action is not an option, unless your goal is to cut Social Security. The most recent Social Security Trustees’ Report projects that with no action, benefits will be automatically reduced by 20 percent in 2035. As Chairman Larson has plainly stated, The hard truth of the matter is that Republicans want to cut Social Security, and doing nothing achieves their goal.

Read Also: How Can Republicans Live With Themselves

His Tax Cut Isnt Helping The Economy But It Did Blow A Hole In The Budget That Hed Fill By Gutting Entitlement Programs

Health-care activists rally in front of the Capitol in March 2017 to highlight the changes then being sought in Medicaid in the Republican American Health Care Act.

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Later this evening, Donald Trump delivers his third State of the Union address. If past speeches are any indicator, we know tonights speech will be filled with a number of exaggerations and outright falsehoods especially when it comes to the economy.

Since he signed the bill two years ago, Trump has heralded the 2017 Tax Cuts and Jobs Act as this administrations greatest accomplishment, declaring that it is helping everybody so much.

But this couldnt be further from the truth. While the law gave giant tax breaks to the wealthy and big corporations, the rest of us were left with crumbs at best. The wage growth that Trump promised hasnt materialized, and 100 million Americans are going to be left paying higher taxes.

Another opinion:Trump should offer a new deal for the middle class in his State of the Union speech

Now, Trump is using his tax cuts, which he promised would be a boon to the economy, as an excuse to threaten cuts to Social Security, Medicare and Medicaid programs Americans have been paying into with every paycheck, and programs the federal government is required, by law, to offer to every single eligible person.

Turns out everyones predictions were right: Republicans are targeting Medicare, Medicaid and Social Security. No surprise there.

Is The Gop Really Trying To Do Away With Social Security

Social Security is unquestionably the nation’s most important social program, with more than three out of five current retired workers leaning on it to account for at least half of their monthly income. Yet, this crucial program is on shaky ground, with the latest annual report from the Social Security Board of Trustees painting a grim intermediate- and long-term picture for the program.

According to the report, Social Security is facing an inflection point this year. For the first time since 1982, aggregate expenditures, which almost entirely includes benefits, but also takes into account administrative expenses and Railroad Retirement exchange contributions, will exceed revenue generated. Although the net cash outflow is only estimated at $1.7 billion, which is relative peanuts when compared to the $2.89 trillion currently in asset reserves, it’s a conclusive sign that the existing payout schedule isn’t sustainable.

Things begin to get really dicey in 2020 and beyond. Beginning at the turn of the decade, ongoing demographic shifts are expected to cause the net cash outflow to balloon. By 2034, following 16 years of outflows, the $2.89 trillion in excess cash is expected to be completely gone. Should this happen, Social Security would survive, but payouts to then-current and future retirees could be cut by up to 21%. That’s not a pleasant forecast given the noted reliance of seniors on the program.

Read Also: How Many Seats Did The Republicans Win In Senate

Yes Republicans Want Big Time Cuts In Social Security

Over the last couple weeks, Dylan Scott has been out front on the House GOPs effort manufacture a Social Security funding crisis that would hit over the next two years. Theres more than one Social Security Trust Fund. Theres one that covers most retirees. Theres another that covers the disability part of the program. And over the years, Congress with little controversy has shifted funds back and forth between the two to maintain actuarial balance. So to date, the whole push has been rather technical and framed around bean counting. But earlier this month, most notably from Rand Paul, we heard the other prong in the attack come into play.

Speaking to Republican presidential primary voters in New Hampshire, Paul said that most Social Security disability recipients are in fact malingerers and scofflaws who have no business receiving benefits in the first place.

The thing is that all of these programs, theres always somebody whos deserving, everybody in this room knows somebody whos gaming the system. I tell people that if you look like me and you hop out of your truck, you shouldnt be getting a disability check. Over half the people on disability are either anxious or their back hurts. Join the club. Who doesnt get up a little anxious for work every day and their back hurts? Everyone over 40 has a back pain.

The Republican Record On Social Security

1935: Almost all Republicans in Congress oppose the creation of Social Security.

1939: 75 percent of Republicans in Senate try to kill legislation providing Social Security benefits to dependents and survivors as well as retired workers.

1950: 79 percent of House and 89 percent of Senate Republicans vote against disability insurance to defeat it.

1956: 86 percent of Republicans in Senate oppose disability insurance; program approved nonetheless.

1964: Republican presidential candidate Barry Goldwater and future president Ronald Reagan both suggest that Social Security be made voluntary.

1965: 93 percent of Republicans in House and 62 percent in Senate vote to kill Medicare.

1977: 58 percent of Senate votes against amendment to provide semiannual increases.

1977: 88 percent of Republicans in House and 63 percent in Senate vote against an increase in Social Security payroll tax needed to keep the system solvent.

1981: President Reagan proposes $35 billion in Social Security cuts over the next 5 years. The cuts would have included the elimination of student benefits, lump-sum death benefits, and a retroactive elimination of the $122 minimum benefit for three million recipients.

1981: Reagan administration begins a wholesale review of the Social Security Disability rolls, resulting in over 560,000 eligibility investigations in 1982 360,000 more than the year before. Ultimately, at least 106,000 families were removed from the rolls.

Don’t Miss: How Many Republicans Won In Tuesday’s Election

The Average Retired Worker Could Be Taking Home A Lot Less From Social Security In 15 Years

This has been a challenging year in so many respects for the American public. The COVID-19 pandemic has completely changed the way we interact with one another, and it’s displaced more than 20 million workers. If you’re an investor, you were also taken on a wild ride, with the stock market packing about 10 years’ worth of volatility into a period of four months. And don’t even get me started about the murder hornets.

But one of the few solaces working Americans have always been able to take is the idea that, if they earn 40 lifetime work credits, a Social Security benefit will be waiting for them when they retire.

The Social Security program has navigated through 13 recessions prior to the COVID-19 pandemic. Despite some obviously grim outlooks during those previous recessions, you’ll note that Social Security is still here, and it’s been paying continuous retired-worker benefits for more than 80 years. This is why it’s often referred to as America’s most successful social program.

But just because it’s been a historically successful program doesn’t mean it’s necessarily in great shape to service future generations of retirees.

Vote Tallies For Passage Of Medicare In 1965

GOP Rep: Let’s Privatize Social Security And Cut Benefits

Actions in Congress- H.R. 6675, The Social Security Admendments of 1965, began life in the House Ways & Means Committee where it passed the Committee on March 23, 1965 and a Final Report was sent to the House on March 29, 1965. The House took up consideration of the bill on April 7th, and passed the bill the next day by a vote of 313-115 . The Senate Finance Committee reported the bill out on June 30th and debate began on the Senate floor that same day, concluding with passage on July 9, 1965 by a vote of 68-21 . The Conference Committee to reconcile the differing bills of the two houses completed its work on July 26th. The reconciled version of H.R. 6675 then went to final passage in the House on July 27th and final passage in the Senate the following day.

You May Like: What Republicans Voted To Impeach The President

The Republican Obsession With Dismantling Social Security And Medicare

The Republicans are desperate to destroy Social Security and Medicare. These two programs demonstrate government at its best. The federal government runs these two extremely popular programs more efficiently, universally, securely, and effectively than the private sector does with its alternatives or indeed could, no matter how well those private sector programs were designed.

Because Social Security and Medicare are government programs that work so well, the Republican elite with its seemingly religious belief that the private sector is always the best hates them. So obsessed are the Republicans in their desire to eliminate these effective government programs that the very first action that House Republicans took in the new Congress was to adopt a rules package that included a new rule that amounts to a stealth attack on Social Security and Medicare.

The rules package, adopted at the start of every new Congress, sets out how the chamber will operate for the next two years. This years package is already infamous for provisions in the initial version that would have gutted the Office of Congressional Ethics provisions that were ultimately dropped after a massive outcry from the American people. Unnoticed by most was an additional provision, which is one part of the Republican game plan to destroy Social Security and Medicare.

Here’s How The Gop Could Remove $174 A Month From Retirees’ Paychecks Without A Direct Cut

On Capitol Hill, both political parties have acknowledged that Social Security needs some TLC. Unfortunately, neither party is in the same ballpark as to how best to fix what’s estimated to be a $13.9 trillion shortfall over the next 75 years.

What isn’t in doubt, though, is that if Republicans were able to implement their two most prominent solutions, every beneficiary would see some form of reduction in their payout.

The GOP has long favored cost-cutting as the best means of reducing Social Security’s shortfall. The most commonly touted method of tackling this would be by gradually raising the full retirement age — i.e., the age at which you become eligible for 100% of your monthly payout. Currently set to peak at age 67 in 2022 for those born in 1960 or later, Republicans would like to see this figure gradually increased to age 70. Such a move would require future generations of retirees to either wait longer to collect their full payout or to accept a steeper up-front reduction by claiming early. No matter their choice, lifetime benefits, and therefore program outlays, would be reduced.

But the thing about raising the full retirement age is that it takes a long time to work. Meanwhile, the other Republican proposal — changing Social Security’s inflationary tether from the Consumer Price Index for Urban Wage Earners and Clerical Workers to the Chained CPI — could yield modestly faster savings.

Read Also: What If The Republicans Win Everything Again

Softening Social Security Rhetoric On The Right

This represents a break from Angle’s past comments. Her website used to say that Social Security should be “transitioned out” in favor of “free market alternatives.

But that has been replaced with a markedly different stance.

“We must keep the promise of Social Security by redeeming the ‘IOU’s’ that have been written to the Social Security Trust Fund and then putting that money in a lock box that cannot ever be raided again by Washington politicians. The only way we pay for it is by cutting spending,” it now says in the “issues” section.

Talk of a “free market” alternative is replaced with “personalized accounts for the next generation that cannot be raided.”

Still, that careful rebranding will be complicated by comments she made Friday, when she apparently referred to Chile as a model for privatizing social security in the future, according to a short AP write-up.

Democrats Hope To Turn Attention From Economy

For their part, Democrats are intent on convincing voters that Republicans want to privatize the whole system.

“Republicans are dead set on privatizing or eliminating Social Security to please their Wall Street backers,” said Democratic Senatorial Campaign Committee National Press Secretary Deirdre Murphy.” Democrats will continue to stand up for our seniors and call out Republicans who want to leave them high and dry.”

But he said changing the subject from the economy will be challenging.

Progressive Groups Seek A “No Cuts” Pledge

Heals Act Vs Heroes Act

In a joint statement issued Tuesday afternoon, Pelosi and Schumer outlined where they said the HEALS Act falls short compared to Democrats Health and Economic Recovery Omnibus Emergency Solutions Act, which passed the House in May.

The $3 trillion Heroes Act extends $600 weekly unemployment benefits through January;2021, whereas the HEALS Act;cuts supplemental unemployment benefits to $200 a week through September, when the payment will be combined with state benefits to replace 70% of wages.

Pelosi and Schumer also said HEALS gives wealthy corporations a business meal tax deduction but doesnt extend the Supplemental Nutrition Assistance Program for struggling families. The Heroes Act provided;a 15% increase to the maximum SNAP benefit and additional funding for nutrition programs.

The Heroes Act contains $175 billion in new supports for rent, mortgage and utility payments and other housing-related costs.

HEALS, Pelosi and Schumer said, also provides zero election funding or Post Office assistance, while spending $2 billion on President Trumps priority to renovate the FBI headquarters and prevent competition for Trump Hotel and handing a $30 billion slush fund to defense contractors.

HEALS does not extend the eviction moratorium, provide rental or mortgage assistance or boost state and local funding, Pelosi and Schumer added.

Related on ThinkAdvisor:

Recommended Reading: When Did The Southern Democrats Become Republicans

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Union Budget 2020 Live TV: आम बजट २०२० लाइव टीवी - देखें निर्मला सीतारमण की लाइव स्पीच Lok Sabha TV और DD National पर

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Union Budget 2020 Live TV: आम बजट २०२० लाइव टीवी - देखें निर्मला सीतारमण की लाइव स्पीच Lok Sabha TV और DD National पर

वित्त मंत्री निर्मला सीतारमण 11 बजे देश का बहीखाता पेश करेंगी.

आम बजट २०२० लाइव टीवी कवरेज, वित्त मंत्री निर्मला सीतारमण की संसद में स्पीच डीडी नेशनल, लोकसभा टीवी पर लाइव देखें. India Union Budget 2020 Live TV Coverage, FM Nirmala Sitharaman Speech on Lok Sabha TV, DD National and News18 India.

News18Hindi

Last Updated: February 1, 2020, 8:19 AM IST

Union Budget 2020: आर्थिक चुनौतियों के बीच मोदी सरकार 2.0 का आज पहला पूर्ण बजट सुबह 11 बजे पेश होने जा रहा है. बढ़ती महंगाई, बेरोजगारी की समस्या, जीडीपी की समस्याओं के बीच आज वित्त मंत्री निर्मला सीतारमण लोकसभा में देश का बही खाता रखेंगी. आम बजट में इनकम टैक्स (Income Tax Slab Changes) से राहत मिलने की पूरी उम्मीद है. इसके संकेत शुक्रवार को पेश हुए आर्थिक सर्वे से मिले हैं.

निर्मला सीतारमण के इस दूसरे बजट से कॉरपोरेट से लेकर आम आदमी को कई तरह की उम्मीदें हैं. सरकार के लिए जो सबसे बड़ी चुनौती है, वो ये कि इस बजट से आर्थिक चुनौती से निपटा जा सके और राजकोषीय घाटे (Fiscal Deficit) के मोर्चे पर सही संतुलन बनाया जा सके. हालांकि, सरकार के पास एक ऐसा मौका भी है, जब वो आम लोगों को इस बात का भी एहसास करा सके कि डूबती अर्थव्यवस्था में तेजी लाने के लिए वो लगातार प्रयास कर रही है.

कहां देख पाएंगे पूरा बजट लोकसभा में पेश किए जाने वाले आम बजट से जुड़ी पूरी कवरेज आप Loksabhatv और DD National पर देख सकते हैं. यहां पर बजट से जुड़ी सभी खबरें, अपडेट और बड़ी बातें आपको देखने को मिलेंगी. इसके अलावा News18 हिंदी के लाइव टीवी पर आप वित्त मंत्री के भाषण को हिंदी में सुन सकेंगे. इसके अलावा News18 Hindi की मोबाइल ऐप पर सभी कवरेज आपको मिलेगी. 

  News18 Hindi पर सबसे पहले Hindi News पढ़ने के लिए हमें यूट्यूब, फेसबुक और ट्विटर पर फॉलो करें. देखिए मनी से जुड़ी लेटेस्ट खबरें.

First published: February 1, 2020, 8:15 AM IST

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Ministry of Corporate Affairs: Supporting Entrepreneurship

With India being ranked 142th on Ease of Business Doing Index and 158th on Ease of Starting a Business, startups in India find it a tough task to outshine amongst the well-established corporate firms in India. However, the Ministry of Corporate Affairs have been bringing reformations in regulations over the decade. In addition to relaxations in the Companies Act of 2013, MCA further announced in June 2017 highlighting certain provisions in the act which would benefit not only the private companies but the startups as well.

The exemptions introduced in the Act would only benefit the Department for Promotion of Industries and Internal Trade, (DPIIT) recognized startups. Moreover in 2015, MCA exempted the corporate sector from obligations related to minimum paid up capital.

Entrepreneurship and its horizons

Entrepreneurship revolves around business development and management involving certain risks in order to gain profits. The Ministry of Corporate Affairs took up an intense drive in-

Government Process Re-designing (GPR) and dispatched the

Simplified Proforma for Incorporating Company Electronically (SPICe) e-Form,

on the event of Gandhi Jayanti, 2016. SPICe is a more flexible structure than INC-29 and influences on advanced innovation by disposing of the requirement for printed versions of genuinely marked archives being appended to an e-structure. SPICe is presently the sole, simplified and versatile structure accessible for incorporation of an organization in India.

The Ministry has likewise coordinated the MCA21 System with the CBDT for issue of PAN and First TAN to an organization utilizing the Simplified Proforma for Incorporating Company Electronically. Shareholders can successfully submit their applications for incorporation and PAN & TAN (allotted by Income Tax Department) altogether thus reducing the time and processes for blooming startups.

Within the MCA directive, stern decisions have been made to improve the legitimate system, work on techniques and accelerate dynamics for simplicity of working together to introduce a solid climate for venture and corporate development. Many efficient corporate dialogues and cognitive consultations have been accomplished by the Ministry of Corporate Affairs to replenish conventional business standards and ensure smooth facilitation of Companies Act, 2013. Statutory implementations to ‘remove difficulties’ have been acknowledged and appreciated in the corporate sector. Furthermore, Lok Sabha introduced encourage business friendly and growth inducing provisions as:

Bringing forth amendments for minimum capital with best foreign practices

Stern lawful processions against frauds or disagreement in set regulations for deposits identified during audits

With declaration in SPICe e-form replacing affidavit for various filings, documentation mandates for foreign nationals to be Director of Indian corporate firms has been deduced to a much greater extent.

The Ministry of Industries and Commerce have developed e-business portals for collective procession of DIN, Company Incorporation and Commencement of Business. Nominal fee is charged by authorities for small scale corporate firms. To direct the flow of Indian business towards international capital markets, IndAS i.e. new accounting standards have been implemented in accordance with IFRS (International Financial Reporting Standards).

Safeguarding Businesses

Serious Fraud Investigation Fraud (SFIO) has been quite operational to avoid corporate delinquency by taking legal course of actions against companies failing the compliance of Companies Act, 2013. Steps were taken to cause merger of NSEL Limited with its parent company Financial Technologies (India) Limited to guard the interest of investors in NSEL on account of its regulatory defaults and the failure of the holding company to exercise oversight, the first ever initiative. With respect to Investment Education Initiatives, 1380 programs were organized to educate and create awareness amongst small investors regarding highs and lows of investments.

Central Registration Centre (CRC), organized for flawless procession of incorporation of companies, works in 2 phases, former one including “application filing for accessing name through e-form INC-1 and later one being “incorporation of companies through e-form”.

Why CRC?

With reengineering in cycle and foundation of Central Registration Center which was established under section 396 of Companies Act, joining of an organization is finished in a single day. Sustaining of Directors Identification Number (DIN), Permanent Account Number (PAN) and the main Tax Deduction Account Number (TAN) are subsumed in the incorporation and there is no different interaction.

All incorporations with an approved capital of INR 15,00,000 are not charged by MCA vide notification G.S.R no.180(E) dated 06.03.2019 amending the Rule 38(2) of the Companies (Incorporation) Rules, 2014.

Rule 38A was added to Companies (Incorporation) Rules, 2014 to merge the functioning of MCA21 with registration of EPFO, ESIC, GST while filing for incorporation of the company in SPICe e-form.

For convenience in incorporation of Section 8 companies, MCA vide notification no. 411 (E) dated 07.06.2019 centralized licensing and incorporation via single form and that being SPICe.

Reforming the corporate framework

With earlier limits for paid up capitals and annual turnovers for small firms being INR 50 lakhs and INR 2 crore respectively, Finance minister renewed the mandates for small companies in Union Budget 2021 granting special provisions like exemption from statutory audits, non-requirement for cash flow statements, holding board meeting once in every 6 months ( in accordance to 90 days of gap between to consecutive board meetings), filing of Annual Returns through Form MTG-7A for the financial year 2020–21 onwards.

As per MCA, common seal under Companies Act, 2013 has been made optional since 29.05.2015. Accordingly, all Banks have been directed by the Indian Bank Association (IBA) to avoid asking for affixation of either common seal on the application form for opening of Bank Accounts by companies. With almost all of the government and corporate sector services made available online, MCA facilitated:

Deployment of common form for registration under labor related laws for EPFO and ESIC on the ‘Shram Suvidha portal’

Final registration for Delhi VAT and Maharashtra VAT within a day through online mode

One single Registration Application Form for all the Acts administered by Maharashtra Sales Tax Dept. (MSTD)

Registration of Delhi Shops and Establishment Act, 1954 and Maharashtra Shops and Establishment Act, 1948 fully online

Central Registration Center for name availability and incorporation expanded the horizons for big corporate firms as well as small companies to go through filing procedures witnessing lesser complications.

The time period for processing incorporation applications under CRC saw a drastic decline from 5–15 working days in June, 2004 to 0.6 working days in March, 2017.

Companies could be allotted with their name availability applications within 0.4 working days in 2017. 90% of applications are being authorized in a day.

Increasing the transparency for shareholders, Ministry vide notice no. GSR 309(E) dated 30.03.2017 has recommended w.r.t related party transactions, where the consideration is equivalent to over 10% assets of the organization, the equivalent will be approved by the members of the organization. This has expanded the investor rights with respect to casting a ballot and exposure of a connected gathering exchange.

National Company Law Tribunal Rules substituted Company Law Board (CLB) in June, 2016. NCLT is initially located at ten places across India, equipped with requisite infrastructure and support staff, including Delhi, Mumbai, Kolkata, Hyderabad and Chennai.

NCLT is foreseen to be a more authoritative platform for adjudication of disputes on corporate law matters through disposal of such cases in a time bound and speedy manner.

CONCLUSION

The Ministry of Corporate Affairs (MCA) has transformed the dynamics of private companies and provided the corporate sector with an entire range of budding opportunities and privileges for rising entrepreneurs mostly with e-governance initiatives.

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Under privatization, two public sector state banks other than IDBI bank. Name unknown, have taken to by the government for privatization. The government currently is a majority stakeholder in PSU. 

Read more :  Highlights Of Union Budget 2020-21 In Banking Sector

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Deloitte Highlights the Economic Indicators in the Union Budget 2021

The Union Budget 2021 was presented by the Finance Minister, Smt. Nirmala Sitharaman on 1st February 2021. Deloitte has shared the key takeaways from the economy announcements made in the budget speech. GDP was expected to contract by 7.7% in FY 2020-21, and GDP growth for FY22 is projected at 11%. In H1 FY21, the current account recorded a surplus of 3.1% of GDP due to modest imports. Thus it is expected that the surplus recorded for FY21 altogether will be 2%. The RBI cut the repo rate by 115 basis points to 4% after March 2020 and still follows an accommodative monetary policy stance. The Net FDI inflow saw a jump to USD 27.5 billion from April-October 2020 that is 14.8% higher than April-October 2019. To target a 6.8% fiscal deficit in FY22 and below 4.5% by 2025-26, the fiscal deficit in FY21 is projected to increase to 9.5% of the GDP. From April to December 2020, the CPI averaged at 6.6%, mainly due to the disruptions by food inflation and supply. The INR averaged at 74.63 from April to October 2020, an increase from 70.38 between April to October 2019. It was also noted that exports contracted by 15.7% to USD 200.8 billion from April to October 2020.

Read more for Union Budget 2021 Economic indicators 

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Health care, vaccine, relief for citizen: Major Highlights of Budget 2021

Health care, vaccine, relief for citizen: Major Highlights of Budget 2021

Union Finance Minister of India Nirmala Sitharaman on Monday presented the Union Budget for 2020-21. The FM said the proposals rest on six pillars, including health and well-being –physical and financial capital. * Senior citizens above 75 yrs of age with only pension income exempted from filing tax returns. Govt announced Aatmanirbhar packages totalling Rs 27.1 lakh crore to deal with Covid…