Macro
Key takeaways from Budget 2020
![Illustration by Anirban Ghosh](https://images.assettype.com/fortuneindia%2F2020-02%2F15baa7af-63f9-431f-8d69-ae558d3eaa73%2F1_More_money_in_pockets.jpg?w=668&q=95)
Budget 2020 proposes to introduce a new tax regime with lower tax rate rates for individual taxpayers who forego certain deductions and exemptions.
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![Illustration by Anirban Ghosh](https://images.assettype.com/fortuneindia%2F2020-02%2F11b55f7b-9876-4421-97ff-12202d586022%2FKnowledge_boost.jpg?w=668&q=95)
With India is set to have the largest working-age population in the world by 2030, Budget 2020 proposes to provide about ₹3,000 crore for skill development.
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![Illustration by Anirban Ghosh](https://images.assettype.com/fortuneindia%2F2020-02%2Fa415c900-7cb5-4030-b028-a0709086c24e%2FWhen_grains_fly.jpg?w=668&q=95)
The Budget proposes to allocate ₹2.83 lakh crore for agriculture, allied activities, irrigation, and rural development for FY21.
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![Illustration by Anirban Ghosh](https://images.assettype.com/fortuneindia%2F2020-02%2F20a37c27-0971-464b-8096-74947e25c196%2FBanking_on_the_sun.jpg?w=668&q=95)
PM-KUSUM scheme will also help another 1.5 million farmers solarise their grid-connected pump sets.
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The Budget also proposes to provide an outlay of ₹8,000 crore over a period five years for the National Mission on Quantum Technologies and Applications.
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![Illustration by Anirban Ghosh](https://images.assettype.com/fortuneindia%2F2020-02%2F6256332f-66d6-4940-a830-da5c86bd2446%2FLIC.jpg?w=668&q=95)
Finance minister Nirmala Sitharaman says LIC to go public.
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