New Delhi: Union Finance Minister Piyush Goyal has begun presenting the interim budget for the fiscal year 2019-20 in Lok Sabha.
Main Points of Union Budget 2019
- We are moving towards realising New India by 2022
- Brought down inflation
- Fiscal deficit brought down to 3.4 %
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Current Account Deficit likely to be 2.5 pc of GDP this year
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India attracted USD 239 bn in FDI in last five years
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Measures implemented to ensure clean banking
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2008-14 saw aggressive credit growth
- Rs 3 lakh cr recovered in bad loans
- Ushered in a new era of transperancy
- As a tribute to Mahatma Gandhi, world's largest behavioural change movement Swachh Bharat initiated; more than 98% rural sanitation coverage has been achieved; more than 5.45 lakh villages declared ODF: mindset change achieved, becoming a Jan Andolan
- Economically weak given 10% quota
- Over 5 lakh villages open defecation free
- Achieved over 98% rural sanitation free
- Rs 60,000 cr allocated for MNREGA
- Rs 19,000 cr allocated for rural roads
- Construction of rural roads tripled
- 1.53 cr homes constructed
- Largest health care project launched
- AIIMS to come up in Haryana
- Rs3000 cr allocated for Ayushman Bharat
- PM Kisan Yogana approved for small and marginal farmers, Rs 6000 per year income support. Benefit for farmers who own under 2 hectare land
- Rashtriya Gokul Yojana: Rs 750 cr allocated for cows
- Separate department for fisheries
- 2% subvention for animal husbandary and fisheries farmers
- Expansion of job sector
- Gratuity limit hiked from Rs 10 lakh to Rs 30 lakh
- Rs 3000 monthly pension for unorganised sector workers
- Focus on women led developmnent
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Govt spent Rs 1.7 lakh crore to supply food grains at cheaper price to poor in 2018-19 as against Rs 92,000 crore in 2013-14
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Ujjwal Yojana: 8 cr new connections will be given
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Big election schemes
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National artificial intelligence portal to be developed
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India second largest hub of startups
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2.5 cr families were without electricity in 2014; we have provided power to almost all families
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OROP, pensing for 40 yrears implemented
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Container freight movement in inland waterways to extend to northeast
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100 operational airports in the country
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Railways capital expenditure hiked
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Govt announces setting up of Rashtriya Kamdhenu Aayog to enhance productivity of cows
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Single window clearance for shooting films for Indian filmmakers
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1 lakh digital villages to be setup
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Defence budget hiked to Rs 3 lakh cr
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I-T returns to be processes in 24hrs; all assessment returns to be processes electronically
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Within nearly two years, almost all assessment and verification of IT returns will be done electronically by an anonymized tax system without any intervention by officials
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99.54% of all tax returns accepted without scrutiny
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Direct tax collections increased from Rs 6.38 lakh crore in 2013-14 to almost Rs 12 lakh crore; The tax base is up from Rs 3.79 crore to 6.85 crore
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Will reduce GST burden on home buyers
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Only 12% GST for cinemagoers
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The Group of Ministers is examining how prospective house buyers can benefit under Goods & Services Tax (GST)
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GST has been continuously reduced resulting in relief of Rs 80,000 crore rupees to the consumers; Most items of daily use are now in the 0%-5% tax bracket
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Committed to eliminate black money
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Rs 1.30 cr unaccounted money traced
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3.38 lakh shell companies deregistered
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Will be 5 trillion-$-economy in five years
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10 dimensional vision for India 2030
- Vision 2030: To build next-gen infra - physical and social
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Vision 2030: India will lead the world with electric vehicles
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Vision 2030: Digital India, clean rivers
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Indian astronaut in space by 2022
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India leading world in mobile data consumption; mobile consumption data has risen by 50 times
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Full tax rebate for individual tax payers upto Rs 5 lakh
