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Interim budget presentation begins

Feb 1, 2019, 10:55 AM IST
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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 %
  • Current Account Deficit likely to be 2.5 pc of GDP this year
  • India attracted USD 239 bn in FDI in last five years
  • Measures implemented to ensure clean banking
  • 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
  • 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
  • Ujjwal Yojana: 8 cr new connections will be given
  • Big election schemes
  • National artificial intelligence portal to be developed
  • India second largest hub of startups
  • 2.5 cr families were without electricity in 2014; we have provided power to almost all families
  • OROP, pensing for 40 yrears implemented
  • Container freight movement in inland waterways to extend to northeast
  • 100 operational airports in the country
  • Railways capital expenditure hiked
  • Govt announces setting up of Rashtriya Kamdhenu Aayog to enhance productivity of cows
  • Single window clearance for shooting films for Indian filmmakers
  • 1 lakh digital villages to be setup
  • Defence budget hiked to Rs 3 lakh cr
  • I-T returns to be processes in 24hrs; all assessment returns to be processes electronically
  • 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
  • 99.54% of all tax returns accepted without scrutiny
  • 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
  • Will reduce GST burden on home buyers
  • Only 12% GST for cinemagoers
  • The Group of Ministers is examining how prospective house buyers can benefit under Goods & Services Tax (GST)
  • 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
  • Committed to eliminate black money
  • Rs 1.30 cr unaccounted money traced
  • 3.38 lakh shell companies deregistered 
  • Will be 5 trillion-$-economy in five years
  • 10 dimensional vision for India 2030
  • Vision 2030: To build next-gen infra - physical and social
  • Vision 2030: India will lead the world with electric vehicles
  • Vision 2030: Digital India, clean rivers
  • Indian astronaut in space by 2022
  • India leading world in mobile data consumption; mobile consumption data has risen by 50 times
  • Full tax rebate for individual tax payers upto Rs 5 lakh

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