Interim Budget 2019: Highlights
The highlights of the Interim Budget 2019 presented by the Finance Minister are listed below:
- 6,000 rupees yearly direct support to farmers through PM-KISAN Programme.
- Pension of 3,000 rupees for unorganised sector workers earning up to 15,000 rupees through a mega Pension Scheme – Pradhan Mantri Shram- Yogi Maandhan.
- Present Income Tax rates to continue and full tax rebate up to an income of 5 lakh rupees for individual taxpayers. Standard deduction raised to 50,000, a hike of 10,000 for salaried class.
- Simplification of Direct tax system and returns to be processed in 24 hours with immediate refunds.
- 90 per cent GST payers can file quarterly returns.
- Two per cent interest rebate for Small and Medium Enterprises to get an incremental loan of one crore rupees.
- Constituting group of Ministers to examine GST burden on home buyers.
- Digitalization of Customs for export and import transactions.
- Allocations towards Health care, MGNREGA, SC/ST welfare programmes, Pradhan Mantri Gram Sadak Yojana, Development of infrastructure in North-East has been increased substantially.
- Rashtriya Kamdhenu Aayog for genetic upgradation of the cow.
- Separate Department of Fisheries.
- Electricity connection to all willing families by next month.
- Allocations to Defence budget crosses three lakh crore rupees for the first time.
- More than three lakh 38 thousand shell companies deregistered after demonetization.
- 10 point vision for 2030 to realize India’s social economic potential.
- India to be a 10 trillion dollars economy in 13 years.
- Government e-Marketplace – GeM to be extended to all Central Public Sector Enterprises.
- Container cargo movement to the North-East through Brahmaputra river.
- Allocation for infrastructure development in the North East increased by 21 per cent.
- AIIMS to be established in Haryana.
- Digital connectivity for more than one lakh more villages.
- National Centre on Artificial Intelligence Centre to be established.
- Tightening of Cinematograph Act to check piracy.
- Single window clearance for shooting films for Indian filmmakers.
- Indigenous development of semi-high speed Vande Bharat Express train
- The fiscal deficit pegged at 3.4 per cent of GDP.
The Budget was keenly watched as the country is heading for a general election in 2019.
Topics: AIIMS • Department of Fisheries • Development of infrastructure in North-East • Finance Minister • GST • Haryana • Health care • MGNREGA • National Centre on Artificial Intelligence Centre • PM-Kisan • Pradhan Mantri Gram Sadak Yojana • Pradhan Mantri Shram- Yogi Maandhan • Rashtriya Kamdhenu Aayog • SC/ST welfare programmes • Small and Medium Enterprises • Vande Bharat Express train