Budget 2019: This isn’t interim budget, this is roadmap for development, Says FM
Finance minister Piyush Goyal presented the interim budget of the Narendra Modi government on Friday. The interim budget is mostly focused on giving a big push to invest in small and medium industries, agriculture and health sectors. Piyush Goyal also said the interim Budget 2019 is a vehicle for the developmental transformation of the nation.
Budget 2019 Key announcement:
- Full tax rebate for taxpayers with income up to 5 lakh
- Those who earn up to 6.5 lakh, You have not to pay tax if you invest in specified saving schemes (around 3 cr middle-class taxpayers will get tax exemptions)
- Standard deductions for salaries increased from Rs. 40000 to Rs. 50000
- TDS threshold on interest on post office deposit and bank raised from 10000 to 40000.
- We will place our astronaut in space through our own Gaganyaan. By 2030, we will work towards a comprehensive healthcare system.
- Increase employment opportunities in rural areas.
- Anti-black money measures taken have brought the undisclosed income of about lakh cr rupees to the surface.
- Most items of daily use for the poor and middle class are now in the 0%-5% tax bucket.
- Farmer extremely affected by natural calamities will get 2 % interest subvention, an additional 3% interest subvention get upon timely repayment
- 8 crore free LPG connections to be given out under Ujjwala schemes
- Gratuity limit increased from Rs 10 lakh to 30 lakh rupees
- Verification of iT returns to be done electronically in 2 years
- 99.54% return so far accepted without ant scrutiny
- Installed solar generation capacity increased 10 times in the last five years.
- Defense budget lakh crore
- Farmar to get Rs. 6000 per year under PM Kisan scheme, cash to be directly transferred to farmer’s bank account
- Worker get 3000 after the age of 60 years under a pension scheme
- Allocation for Rashtriya Gokul Mission to 750 cr
- The 4R approach implemented to ensure clean banking, The following 4R are: Recognition, Resolution, Recapitalization, Reforms
- 21 AIIMSs operating or being establish