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Budget 2019 at a Glance: Less Tax for Common Man

Budget 2019

Finance minister Piyush Goyal today presented the Union Budget- 2019 in Lok Sabha. Goyal was appointed interim finance minister on January 23 with Arun Jaitley undergoing treatment in the United States. Here is a look at the main points of the Budget presented by Piyush Goyal.

Eletsonline News
  • Domestic air traffic doubled in last 5 years
  • 2% interest subvention on MSME loans with ticket size of Rs 1 cr
  • Govt projects now have to source 25% of their requirements from SMEs
  • Government will set up a welfare development board to help implement development programmes for nomadic and semi-nomadic communities
  • Pradhan Mantri Shram Yogi Mandhan, will provide assured monthly pension of Rs 3,000 with contribution of Rs 100 per month for workers in unorganized sector after 60 years of age.
  • Government proposes to launch a mega pension yojna, Beneficiaries will be provided assured pension of Rs 3,000 per month
  • Increased tax-free gratuity from Rs 10 lakh to Rs 20 lakh
  • Increased EPFO membership by 2 crore in last two years
  • 2% interest subvention for farmers affected by severe natural calamities
  • 2% interest subvention to farmers pursuing animal husbandry and fisheries
  • Increased allocation for Rashtriya Gokul Mission to 750 crore in current year
  • Rs 6,000 per annum to farmers holding land of up to 2 hectares
  •  545000 villages open defecation free
  •  Inflation in December 2018 was just 2.1%, all time low
  •  Fiscal deficit & current account deficit down
  •  Ensured spirit of cooperative federalism
  •  Attracted USD 239 BN as FDI
  • Government earmarked Rs 1.7 lakh crore in 2018-19 to ensure food for all
  •  Ayushman Bharat to provide medical treatment to nearly 50 crore people99.54% returns have been accepted without any scrutiny
  • 34 crore Jan Dhan accounts opened in last five years
  • Monthly mobile data consumption has increased 50 times in last 5 years
  • Railways to get ₹64,587 crore in FY20
  • 3 lakh crore recovered from big corporate loan defaulters
  • Defence budget crosses ₹3 trillion mark
  • Domestic air traffic doubled in last 5 years
  • 2% interest subvention on MSME loans with ticket size of Rs 1 cr
  • Govt projects now have to source 25% of their requirements from SMEs
  • Government will set up a welfare development board to help implement development programmes for nomadic and semi-nomadic communities
  • Pradhan Mantri Shram Yogi Mandhan, will provide assured monthly pension of Rs 3,000 with contribution of Rs 100 per month for workers in unorganized sector after 60 years of age
  • Government proposes to launch a mega pension yojna, Beneficiaries will be provided assured pension of Rs 3,000 per month
  • Increased tax-free gratuity from Rs 10 lakh to Rs 20 lakh
  • Increased EPFO membership by 2 crore in last two years
  • 2% interest subvention for farmers affected by severe natural calamities
  • 2% interest subvention to farmers pursuing animal husbandry and fisheries
  • Increased allocation for Rashtriya Gokul Mission to 750 crore in current year
  • Rs 6,000 per annum to farmers holding land of up to 2 hectares
  • 545000 villages open defecation free
  • Inflation in December 2018 was just 2.1%, all time low
  • Fiscal deficit & current account deficit down
  • Ensured spirit of cooperative federalism
  • Attracted USD 239 BN as FDI
  • Government earmarked Rs 1.7 lakh crore in 2018-19 to ensure food for all.
  • Govt to focus on building physical & social infra for ease of living
  • We are poised to become $5 trillion economy in the next 5 years
  • 3.38 lakh shell companies deregistered
  • 1 crore people filed IT return for first time after demonetisation
  • High taxation on multiple commodities has been rationalised
  • FM announces all tax scrutiny to be done via Anonymous Digital Interface
  • SMEs with earnings below INR 5 crore will soon file GST only once in 3 months
  • Within next 2 yrs, all assessment of returns to be done electronically
  • Direct tax: Tax collection up from Rs 6,38 lakh cr to Rs 12 lakh cr
  • Most daily-use items are now under 0-5% tax slab under GST
  • 99.54% returns have been accepted without any scrutiny
  • 34 crore Jan Dhan accounts opened in last five years
  • Monthly mobile data consumption has increased 50 times in last 5 years
  • Railways to get ₹64,587 crore in FY20
  • 3 lakh crore recovered from big corporate loan defaulters
  • Defence budget crosses ₹3 trillion mark
  • Domestic air traffic doubled in last 5 years
  •  2% interest subvention on MSME loans with ticket size of Rs 1 cr
  • Govt projects now have to source 25% of their requirements from SMEs
  • Government will set up a welfare development board to help implement development programmes for nomadic and semi-nomadic communities
  • Pradhan Mantri Shram Yogi Mandhan, will provide assured monthly pension of Rs 3,000 with contribution of Rs 100 per month for workers in unorganized sector after 60 years of age
  • Government proposes to launch a mega pension yojna, Beneficiaries will be provided assured pension of Rs 3,000 per month
  • Increased tax-free gratuity from Rs 10 lakh to Rs 20 lakh
  • Increased EPFO membership by 2 crore in last two years
  • 2% interest subvention for farmers affected by severe natural calamities
  • 2% interest subvention to farmers pursuing animal husbandry and fisheries
  • Increased allocation for Rashtriya Gokul Mission to 750 crore in current year
  • Rs 6,000 per annum to farmers holding land of up to 2 hectares
  •  545000 villages open defecation free
  • Inflation in December 2018 was just 2.1%, all time low
  •  Fiscal deficit & current account deficit down
  • Ensured spirit of cooperative federalism
  • Attracted USD 239 BN as FDI
  • Government earmarked Rs 1.7 lakh crore in 2018-19 to ensure food for all

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