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.
- 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
