Economy

          The Economic Survey 2019-2020 was presented on 31st January, 2020 by the Chief Economic Advisor (CEA) Krishnamurthy V Subramanian. The theme for this year's survey was "Integrating old with new through trust in the economy; promoting pro-business policies and creating wealth and job opportunities". The Survey has given a lot of focus on wealth creation.           All the growth parameter is showing sign of slowdown. Here is a summary of how things stand currently at the moment in the economy.            Lets see what the Survey says : Wealth creation benefits all - The survey has given most emphasis on wealth creation and says that it act as as growth multiplier. When wealth is created, its get distributed and everyone benefits from it. Entrepreneurship and wealth creation - The survey calls for creation of wealth through entrepreneurship. Entrepreneurship mostly on the level of working class so that wealth is created on grassroot level and poor peop

            Union Finance Minister Mrs. Nirmala Sitharaman delivered the longest budget speech of around 2 hours 45 minutes. A lot was expected from this year's budget as the economy is in the midst of a slowdown and a strong budget was necessary to put the economy back on track.             So lets have a look at the key highlights of the budget 2020 : 1. DIRECT TAX  The Government has introduced a new tax regime for those foregoing exemption and deductions. The new tax rate is optional. To simplify tax system more than 70 deductions and exemptions have been removed.                                             TAXABLE INCOME SLAB TAX RATE Upto Rs. 5 lakh Nil Rs. 5 lakh to Rs, 7.5 lakh 10% Rs. 7.5 lakh to Rs. 10 lakh 15% Rs. 10 lakh   to Rs. 12.5 lakh 20% Rs. 12.5 lakh to Rs. 15 lakh 25% Rs. 15 lakh and above 30% Dividend Distribution Tax (DDT) has been abolished fr