The key points and important points of the Union Budget 2019-20 LIVE Update Finance Minister Piyush Goyal said that the Modi government got a decisive mandate to continue structured reforms. “We have reversed policy paralysis,” he said.
Key points of the Union Budget 2019-20 and important points LIVE Update: Finance Minister Piyush Goyal presented the Union Budget in the Lok Sabha on Friday. Beginning with his budget speech, Piyush Goyal wished former Finance Minister Arun Jaitley to be quick to recover. The Parliament session began with slogan by opposition members.
There may be a major impact in the forthcoming elections, the government announces full tax rebate for those earning annual income up to Rs 5 lakh, while the gross income of Rs 6.5 lakh is not required to pay any tax If you invest in provident fund and fixed equity
The government also announced a financial package for the farmers, Prime Minister Kisan Mahan Nidhi Yojana, under which every farmer will receive the amount of Rs 6000 directly in his bank accounts every year. 75,000 crore has been allocated for the scheme.Budget 2019 Highlights: Villages to go digital
Key Features of Budget 2019: Increased Money for the North-East
21% increase in the allocation of funds for the North-East, amounting to Rs 58,166 crore.
Key Features of Budget 2019 For Railway :
Vande Bhaiya Express (Train 18) will provide speed, service and security and will promote Make in India, Finance Minister Piyush Goyal said. The government allocated an amount of Rs 64,587 crore for the Railways in 2019-20.
Essential items in the 0-5% GST bracket :
GST has been reduced continuously, resulting in a relief of 80,000 crore rupees for consumers. Most of the daily use items for the poor and middle class are now in the 0% -5% tax bracket: Goyal
Bugatt Highlights 15.56 lakh loans sanctioned :
Finance Minister Piyush Goyal announced sanction of 15.56 lakh loans of Rs 7.23 lakh crore under the money scheme. Goyal said that more than 70 percent beneficiaries were women.
Key Features of Budget 2019
For all housing projects approved by the end of 2019-2020, the benefits under section 80 (i) BA are being extended for another year
Budget 2019 Highlights Sea Mala :
Piyush Goyal said, “To use safe drinking water, to maintain and nurture life, using micro irrigation techniques are the priorities of our government, using the blue economy and the power of the sea garlands for the long economy. can go.”
Standard tax deduction for salaried workers
The standard tax deduction for salaried individuals increased from Rs 40,000 to Rs 50,000Budget 2019 Highlights: TDS threshold on interest on deposits raised
Key Features of Budget 2019 Announcement of Tax Exemption :
Finance Minister Piyush Goyal has announced full tax rebate for personal taxpayers having annual income upto 5 lakh. Tax slab increased from Rs 2.5 lakh to Rs 5 lakh.
Key Features of Budget 2019 Increase in interest for farmers affected by natural disaster :
All farmers affected by severe natural calamities will continue to get 2% interest cess and additional 3% on loan repayment on time.Budget 2019 Highlights: Fresh amount allocated for construction of rural roads
Key Features of Budget 2019 OROP, Salary Increase for Soldiers; Defense budget extended :
The Finance Minister said that the government has distributed an amount of Rs 35,000 crore for the soldiers under One Rank One Pension (OROP) scheme and also announced a “substantial” increase in military service payment. The defense budget has to be increased beyond Rs 3 lakh crore.Budget 2019 Highlights: Reservation for General EWS
Highlights of budget 2019 Nomad and semi-nomad community :
Finance Minister Piyush Goyal announced the formation of a committee under NITI Aayog for the welfare of these hard-to-reach communities and for identification and welfare of nomadic and semi-nomadic communities under MSJEGOI for integrated strategic intervention.
Piyush Goyal announces 80 million free LPG connections :
More than 80 million free LPG connections are to be given. At present, the government is providing about 60 million connections. All 8 million will be given next year.
Announcement of plans for organized sector :
Mega Pension Scheme for the workers of organized sector, Prime Minister’s Labor Board They will provide an estimated pension of 3,000 after the age of 60 years. These schemes will benefit at least 100 million people of the unorganized sector. A sum of Rs 500 crore has been allocated and the government is ready to spend even more. This scheme will be implemented only in the current year.
Key Features of Budget 2019 National Gokul Mission :
Allocation for National Gokul Mission increased to 750 crore in the current year.
Key Features of Budget 2019 Animal Husbandry and Fishery :
Piyush Goyal announces 2% interest subvention for animal husbandry and fishery farmers
Key Features of Budget 2019 PM Kishen Award Fund for Farmers :
Finance Minister Piyush Goyal has allocated Rs. 75,000 crore for the scheme of declaration of PM Kishan Award Fund Scheme for farmers. Money will be directly in the farmers’ account. Each farmer will get 6000 rupees per year.
Interim Budget today: Piyush Goyal says that India is the fastest growing economy
Finance Minister Piyush Goyal, while highlighting the achievements of the BJP-led NDA government, said that the country is now one of the fastest growing major economies in the world and in the last five years GDP growth is more than any previous government.