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BUDGET SUMMARY WITH MAJOR HIGHLIGHTS OF THE INTERIM BUDGET 2019-20

Budget - Dated:- 1-2-2019 - Ministry of Finance INTERIM BUDGET 2019-20 PRESENTED IN PARLIAMENT TODAY HAS A MAJOR SCHEME FOR FARMERS AND PROVIDES FOR INCOME TAX SOPS THIS INTERIM BUDGET IS TO BE VIEWED AS A MEDIUM FOR A PROGRESSIVE PATH FOR THE COUNTRY, THE FINANCE MINISTER SAYS SHRI PIYUSH GOYAL SAYS GOVERNMENT HAS BROUGHT DOWN AVERAGE INFLATION TO 4.6%, LOWER THAN THE INFLATION DURING THE TENURE OF ANY OTHER PREVIOUS GOVERNMENT. Posted On: 01 FEB 2019 1:50PM by PIB Delhi Interim Budget 2019-20 .....

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terim Budget 2019-20. Major Schemes New Scheme- namely Pradhan Mantri KIsan SAmman Nidhi (PM-KISAN) to extend direct income support at the rate of ₹ 6,000 per year to farmer families, having cultivable land upto 2 hectares is announced. While presenting the Interim Budget 2019-20, the Union Minister for Finance, Corporate Affairs, Railways & Coal, Shri Piyush Goyal said that our Government is launching a historic programme PM-KISAN with an outlay of ₹ 75,000 crore for the FY 2019 .....

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lso get an additional 3% interest subvention. Allocation of ₹ 750 crore for Rashtriya Gokul Mission has been announced for the current year itself. Setting up of Rashtriya Kamdhenu Aayog to upscale sustainable genetic upgradation of cow resources and to enhance production and productivity of cows has also been announced. The Aayog will also look after effective implementation of laws and welfare schemes for cow. To provide pensionary benefits to at least 10 crore labourers and workers in t .....

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20. Thus tax benefit of ₹ 18,500 crore is proposed to be provided to an estimated 3 crore middle class and small taxpayers comprising self employed, small business, small traders, salary earners, pensioners and senior citizens. For salaried persons, Standard Deduction is being raised from the current ₹ 40,000 to ₹ 50,000. This will provide additional tax benefit of ₹ 4,700 crore to more than 3 crore salary earners and pensioners. Exemption on levy of income tax on notiona .....

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fact Inflation in December 2018 was down to 2.19% only. Shri Goyal said if we had not controlled inflation, our families would have been spending around 35-40% more today on basic necessities such as food, travel, consumer durables, housing etc. The average rate of inflation during previous five years 2009-2014 was a backbreaking 10.1%, he pointed out. Fiscal Deficit The fiscal deficit has been brought down to 3.4% in 2018-19 RE from the high of almost 6% seven years ago, the Finance Minister m .....

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since economic reforms began in 1991. From being the 11th largest economy in the world in 2013-14, we are today the 6th largest in the world , the Finance Minister asserted in his Opening Remarks of his Budget speech. Shri Goyal said that due to such a stable and predictable regulatory regime, growing economy and strong fundamentals, India could attract massive amount of as much as $239 billion of Foreign Direct Investment (FDI) during the last 5 years, when most of the FDI was allowed to come .....

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otherwise cost them ₹ 3,000 crore. Lakhs of poor and middle class people are also benefiting from reduction in the prices of essential medicines, cardiac stents and knee implants, and availability of medicines at affordable prices through Pradhan Mantri Jan Aushadhi Kendras, the Finance Minister added. Shri Goyal also said that 14 of the 21 AIIMS operating or being established in the country presently have been announced since 2014. He also announced setting up of a new - the 22nd AIIMS in .....

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of identifying De-notified, Nomadic and Semi-Nomadic communities not yet formally classified. Shri Goyal said under the Ujjwala Yojana aiming delivery of 8 crore free LPG connections, more than 6 crore connections have already been given and the remaining will get free gas connections by next year. The Finance Minister announced that a National Artificial Intelligence Portal will also be developed soon as a part of the National Programme on 'Artificial Intelligence'. The Department of In .....

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at ₹ 64,587 crore in 2019-20 (BE). The Railways overall capital expenditure programme is of ₹ 1,58,658 crore. The Finance Minister, who is also holding the portfolio of Railway Ministry, announced that the Operating Ratio is expected to improve from 98.4% in 2017-18 to 96.2% in 2018-19 (RE) and further to 95% in 2019-20 (BE). India s installed solar generation capacity has grown over ten times in last five years. Stating this, Shri Goyal said that our commitment to promote renewable .....

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people filing income tax returns for the first time in FY 2017-18, mainly on account of demonetization. Shri Goyal said that he is proposing, through the Finance Bill, necessary amendments to levy Stamp duties on one instrument relating to one transaction and get collected at one place through the Stock Exchanges. The duty so collected will be shared with the State Governments seamlessly on the basis of domicile of buying client, he said. In all the total expenditure is to increase from ₹ .....

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