Budget 2019 Highlights, News, No tax on income till 5 lakhs
Union Budget 2019-20 presented by Finance Minister Piyush Goyal. he said that the Modi government got a decisive consignment to continue constitutional improvement. "We have reversed policy paralysis," he said. actually this budget was going to present by our former Finance Minister Arun Jaitley but he having some health issues that is why our Finance Minister starting his Budget speech. Finance Minister Piyush Goyal, highlighting the achievements of the BJP-led NDA government said that the country is now among the fastest growing major economies in the world and the GDP growth in last five years is higher than under any previous government
- To keep the wellness in the mind Government also announced for the farmers, As per Scheme Pradhan Mantri Kisan Samman Nidhi scheme, under this scheme each farmer will get an amount Rs 6000 directly in their bank accounts every year. for this scheme A sum of Rs 75,000 crore has been assigned.
- Over next five years One Lakh villages to go digital: Union Minister.
- For the North-East, development 21% increase in share of funds amounting to Rs. 58,166 crore.
- As per the information in year 2019-20 the government of India share a sum of Rs. 64,587 for Railway . in 2019 budget session Finance Minister Piyush Goyal said in boosting to make in India Vande Bharat Express (Train 18) will provide speed, service and safety.
- In case of GST daily items was become very costly mostly for poor and middle class were very effected, but in 2019 budget GST has been reduced resulting in relief of Rs. 80,000 consumers. but after reducing GST percentage now in the 0% -5% tax bracket.
- under the Mudra scheme Finance Minister Piyush Goyal declare a sanction of 15.56 lakh loans amounting Rs 7.23 lakh crore. Goyal said that more than 70 per cent beneficiaries were women.
- Tax is deducted for salaried person raised from 40,000 to Rs 50,000 and TDS TDS threshold on interest on bank and post office deposits raised from 10,000 to 40,000 rupees. for individual full tax rebate with annual income up to to 5 lakh. Tax slab raised from Rs 2.5 lakh to Rs 5 lakh.
- Using strength of blue economy and Sagar Mala," Piyush Goyal said "Safe drinking water to all Indians, maintaining and nutritious, using micro-irrigation techniques are our government's priorities; a long coastline can be pivotal for the economy,
- Finance Minister Arun Jaitely announced for all Over 8 crore free LPG connections to be given. Presently, the government is providing around 6 crore connections. up to comming next year all 8 crore connections will be given.
- When the farmers are affected by natural disasters , Goyal announced to will continuity for farmers get 2 per cent interest subvention and additional 3 per cent on timely loan repayment and 2% interest subvention to farmers pursuing animal husbandry and fisheries
- UnderPradhan Mantri Gram Sadak Yojana (PMGSY). An amount of Rs 19,000 crore has been share for 2019-20. around 15.8 lakh out of a total of 17.84 lakh occupancy have been connected with pucca roads. under the NDA Government construction of rural roads has tripled.
- Announce share for 750 crore in the current year for Rashtriya Gokul Mission.
- Finance Minister Arun Jateily announced 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.
- The Finance Minister also repeat again & again 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."
- Finance Minister Piyush Goyal announced the setting up of a committee under NITI Aayog to identify and denotify nomadic and semi-nomadic communities, and a Welfare Development Board under MSJEGOI for welfare of these hard-to-reach communities and for tailored strategic interventions.
- For the organized sector workers Mega Pension Yojana, Pradhan Mantri Shram Mandan Shall provide assured monthly pension of 3,000 after they age to 60 years. At least 10 crore people of the unorganized 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.
- " Finance Minister Piyush Goyal said, "We are moving towards realizing New India by 2022."