Budget 2019
Budget 2019 Highlights: Financial package for farmers, free LPG, income tax rebate announced
Union Budget 2019-20 highlights and important points:
Full coverage of Budget 2019 | Market tracker
Sagar Mala
"Safe drinking water to all Indians, sustaining and nourishing life, using micro-irrigation techniques are our government's priorities; a long coastline can be pivotal for the economy, using strength of blue economy and Sagar Mala," Piyish Goyal said.
Standard tax deduction for salaried raised
Standard tax deduction for salaried persons raised from 40,000 rupees to 50,000 rupees
TDS threshold on interest on deposits raised
TDS threshold on interest on bank and post office deposits raised from 10,000 to 40,000 rupees
Tax rebate announced
Finance Minister Piyush Goyal announces full tax rebate for individual taxpayers with annual income up to 5 lakh. Tax slab raised from Rs 2.5 lakh to Rs 5 lakh.
Increased interest subvention for farmers affected by natural disaster
All farmers affected by severe natural disasters to will continue to get 2 per cent interest subvention and additional 3 per cent on timely loan repayment
Fresh amount allocated for construction of rural roads
Highlighting that the construction of rural roads has tripled under the NDA government, Piyush Goyal said around 15.8 lakh out of a total of 17.84 lakh habitations have been connected with pucca roads underPradhan Mantri Gram Sadak Yojana (PMGSY). An amount of Rs 19,000 crore has been allocated for 2019-20.
OROP, pay hike for soldiers; Defence budget enhanced
The Finance Minister said the government has disbursed an amount of Rs 35,000 crore for the soldiers under the One Rank One Pension (OROP) scheme and also announced a "substantial" hike in military service pay. The Defence budget to be enhanced beyond 3 lakh crore rupees.
Reservation for General EWS
The Finance Minister also reiterated the government's promise to provide 10 per cent quota to EWS of General category, saying, "Without disturbing the existing reservation system, a 10% reservation for Economically weaker sections in educational institutions and government jobs has been ensured."
Nomadic and semi-nomadic communities
Special boards will be made to reach out to the Nomadic and semi-nomadic communities, Finance Minister Piyush Goyal announced.
Piyush Goyal announces 8 crore free LPG connections
Over 8 crore free LPG connections to be given. Presently, the government is providing around 6 crore connections. Next year all 8 crore will be given.
Schemes announced for organised sector
Mega Pension Yojana, Pradhan Mantri Shram Mandan for the organised sector workers. Shall provide assured monthly pension of 3,000 after they age to 60 years. At least 10 crore people of the unorganised sector will benefit from these schemes. An amount of Rs 500 crore has been allocated and the government is willing to spend even more. The scheme will be implemented in the current year itself.
Rashtriya Gokul Mission
Increased allocation for Rashtriya Gokul Mission to 750 crore in the current year.
Animal Husbandry and Fisheries sector
Piyush Goyal announces a 2% interest subvention to farmers pursuing animal husbandry and fisheries
PM Kisaan Samman Nidhi for farmers
Finance Minister Piyush Goyal announces PM Kisaan Samman Nidhi package for farmers. A sum of Rs 75,000 crore has been allocated for the scheme. The money will go directly to the farmers' account. Each farmer will receive Rs 6000 per year.
Union Budget 2019-20 highlights and important points:
Full coverage of Budget 2019 | Market tracker
Sagar Mala
"Safe drinking water to all Indians, sustaining and nourishing life, using micro-irrigation techniques are our government's priorities; a long coastline can be pivotal for the economy, using strength of blue economy and Sagar Mala," Piyish Goyal said.
Standard tax deduction for salaried raised
Standard tax deduction for salaried persons raised from 40,000 rupees to 50,000 rupees
TDS threshold on interest on deposits raised
TDS threshold on interest on bank and post office deposits raised from 10,000 to 40,000 rupees
Tax rebate announced
Finance Minister Piyush Goyal announces full tax rebate for individual taxpayers with annual income up to 5 lakh. Tax slab raised from Rs 2.5 lakh to Rs 5 lakh.
Increased interest subvention for farmers affected by natural disaster
All farmers affected by severe natural disasters to will continue to get 2 per cent interest subvention and additional 3 per cent on timely loan repayment
Fresh amount allocated for construction of rural roads
Highlighting that the construction of rural roads has tripled under the NDA government, Piyush Goyal said around 15.8 lakh out of a total of 17.84 lakh habitations have been connected with pucca roads underPradhan Mantri Gram Sadak Yojana (PMGSY). An amount of Rs 19,000 crore has been allocated for 2019-20.
OROP, pay hike for soldiers; Defence budget enhanced
The Finance Minister said the government has disbursed an amount of Rs 35,000 crore for the soldiers under the One Rank One Pension (OROP) scheme and also announced a "substantial" hike in military service pay. The Defence budget to be enhanced beyond 3 lakh crore rupees.
Reservation for General EWS
The Finance Minister also reiterated the government's promise to provide 10 per cent quota to EWS of General category, saying, "Without disturbing the existing reservation system, a 10% reservation for Economically weaker sections in educational institutions and government jobs has been ensured."
Nomadic and semi-nomadic communities
Special boards will be made to reach out to the Nomadic and semi-nomadic communities, Finance Minister Piyush Goyal announced.
Piyush Goyal announces 8 crore free LPG connections
Over 8 crore free LPG connections to be given. Presently, the government is providing around 6 crore connections. Next year all 8 crore will be given.
Schemes announced for organised sector
Mega Pension Yojana, Pradhan Mantri Shram Mandan for the organised sector workers. Shall provide assured monthly pension of 3,000 after they age to 60 years. At least 10 crore people of the unorganised sector will benefit from these schemes. An amount of Rs 500 crore has been allocated and the government is willing to spend even more. The scheme will be implemented in the current year itself.
Rashtriya Gokul Mission
Increased allocation for Rashtriya Gokul Mission to 750 crore in the current year.
Animal Husbandry and Fisheries sector
Piyush Goyal announces a 2% interest subvention to farmers pursuing animal husbandry and fisheries
PM Kisaan Samman Nidhi for farmers
Finance Minister Piyush Goyal announces PM Kisaan Samman Nidhi package for farmers. A sum of Rs 75,000 crore has been allocated for the scheme. The money will go directly to the farmers' account. Each farmer will receive Rs 6000 per year.
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