The Budget for the year 2020 was declared on Saturday by Union Finance Minister Nirmala Sitharaman and it had substantial allocations for SC, ST and OBCs.
During her Budget 2020 speech, the FM announced that Rs. 85,000 crore rupees for Scheduled Castes (SC) and Other Backward Castes (OBC) in 2020-21 also, an additional Rs. 53,700 crores have been allocated in Budget 2020 for the welfare of Scheduled Tribes (ST).
85,000 crore rupees for Scheduled Castes and Other Backward Classes in 2020-21
53,700 crore rupees for Scheduled Tribes
Enhanced allocation of 9,500 crore rupees for Senior citizens and Divyangs
– FM @nsitharaman
Watch LIVE: https://t.co/TN71mvbfGt#Budget2020 #JanJanKaBudget pic.twitter.com/66QG7oPAs0
— PIB India (@PIB_India) February 1, 2020
Rs. 9,500 crore has also been allocated for the welfare of senior citizens and differently-abled citizens. A tribal museum would also be set up in Ranchi to educate people about India’s rich tribal history.
In a speech that lasted nearly three hours, Nirmala Sitharaman made a host of other significant announcements. A 16-point action plan was put forth by the Finance Minister to help the agricultural sector and increase farmer’s wages. A new optional tax regime was also announced in the budget which significantly decreases the income tax rate for the middle class.
