Highlights of Budget 2019
1.
All farmers affected by natural disasters to 2%
interest subvention upfront for entire loan period
2.
Current account deficit for 2018 / 19 seen at
2.5% of GDP
3.
Farmers up to 2 hectare of land to come under PM
Kisan scheme
4. Government launches
mega pension scheme for social security coverage of unorganised labour
5. 5Fiscal deficit for
2018/19 seen at 3.4% of GDP
6. 6Recovered 3
lakh crore via bankruptcy code
7. 7Bank of India, Bank
of Maharashtra and Oriental Bank no more under RBI's prompt corrective
action
8. 8Poor farmers to
get 6,000 per year under PM Kisan scheme
9. 9PM Kisan to
transfer cash directly to farmers under PM Kisan scheme
10. 10Poor farmers to get
cash in three equal installments under PM Kisan scheme
11. 11PM Kisan scheme for
poor farmers to cost government 75,000 crore FY20
12. 12PM Kisan scheme for
poor farmers to get 20,000 crore in FY19
13. 13PM Kisan scheme to
transfer cash directly to farmers' accounts
14. 14PM Kisan scheme to
start transfer of cash with effect from December 2018
15. 15Government
announces Rashriya Gokul Mission to support poor owning cows
16. 16Rashriya Gokul
Mission cow scheme to get 750 crore in the current year
17. 17Central government
to alone support PM Kisan scheme
18. 18All farmers
affected by natural disasters to get 2-5% interest subvention
19. 19Government to
contribute 14% under New Pension Scheme
20. 20Gratuity cap
doubled to 20 lakh
21. 21Government to
contribute equally in pension accounts under mega pension scheme
22. 22Unorganised labour
to get 3,000 per month after age of 60 under mega pension scheme
23. 23Government to
implement mega pension scheme for unorganised labour from this year
itself
24. 24Mega pension scheme
is for people with income up to 15,000 per month
25. 25PM mega pension
scheme to benefit 10 crore people
26. 26Total of 8 crore
cooking gas cylinders to be distributed by next year under PM Ujwala
Yojna
27. 27India is the second
biggest hub for start-ups
28. 28A National
Programme for Artificial Intelligence covering 9 areas to be promoted
29. 29Government projects
to source 25% material from SMEs, 3% from only women-owned SMEs
30. 30GEM platform to
cover all public sector enterprises to promote local industry, trade
31. 31SME loans with
ticket size of 1 crore to get 2% interest subvention
32. 32Defence Budget
crosses 3 lakh crore mark in FY20 Budget
33. 33Budgetary support
for railways for FY20 is 64,587 crore
34. 34Railways' operating
ratio seen at 96.2% in FY19, 95% in FY20
35. 35North-east states
to get 21% higher budget allocation at 58,166 crore in FY20
36. 36Will set up 1 lakh
digital villages in next 5 years
37. 3JAN Dhan, Aadhar
and mobile have been game changers
38. 3834 crore Jan Dhan
bank accounts opened in last 5 years
39. 39Single window
clearance to be made available to Indian film makers
40. 40TV: Railways FY20
capex seen at 1.58 lakh crore
41. 41Direct tax
collections estimated at 12 lakh crore in FY19
42. 42Poised to become a
$5 trillion economy in 5 years
43. 4Aspire to become a
$10 trillion economy in 8 years
44. 441.3 lakh crore
undisclosed income brought under tax net
45. 453,38,000 shell
companies detected and their directors disqualified
46. 46Average GST
collection 97,100 crore
47. 47Government lays out
10-year roadmap to improve ease of living
48. 48Making India a
pollution-free India in 10-year roadmap
49. To lead world in
transport and energy storage devices
50. To bring down
dependent on imports for energy needs
51. Roadmap envisions people
traveling in electric cars
52. Tenth dimension of
govt's India 2030 vision is a healthy governance
53. Fiscal deficit
pegged at 3.4% of GDP for FY20
54. Fifth dimension of
govt's India 2030 vision is clean rivers
55. Government to scale
up Sagarmala programme
56. Seventh dimension
of India 2030 is to lead in space programmes
57. Eighth dimension of
India 2030 is to grow food in environment friendly manner
58. Ninth dimension of
India 2030 is a healthy India
59. Tenth dimension of
India 2030 programme is a comprehensive wellness system
60. FY20 total
expenditure seen at 27.84 trillion rupees
61. FY20 capital
expenditure seen at 3,36,292 crore
62. Central schemes to
get 3,27,679 crore FY20
63. National education
mission to get 38,572 crore FY20
64. Integrated child
development scheme to get 27,584 crore FY20
65. SC, ST welfare to
get 76,800 crore FY20
66. Salary earners,
pensioners to get tax benefit
67. Salary earners up
to 5,00,000 annual income to get full tax rebate
68. No income tax for
income up to 5,00,000
69. Salary earners of
up to 6,50,000 income to not pay tax if they make tax related investments
70. Standard deduction
to be raised from 40,000 to 50,000
71. No tax if you own
second house
72. No TDS on post
office savings up to 40,000
73. No TDS on rental
income up to 2,40,000 per year
74. No tax on notional
rent on second house
75. Capital gains tax
exemption under Section 54 raised to 2 crore
Tax on notional rent on
unsold inventory to not be paid for 2 years
Posted on :
Feb 01, 2019