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Union Budget 2019 : Highlights no tax on income till Rs 5 lakh, Rs 6,000 income for farmers

Piyush Goyal begins an interim budget speech. FM Piyush Goyal, in his speech, wished Union Minister Arun Jaitley speedy recovery and good health. 



Women and Child Development Ministry's Budget Hiked by 20% | In a major boost announced on Friday, Rs 29,000 crore has been set aside for the Women and Child Development (WCD) Ministry for the next fiscal, a 20 per cent increase over the 2018-2019 financial year with the Centre's programmes of maternity benefit and child protection services. 

The allocation for the Pradhan Mantri Matru Vandana Yojana (PMMVY), a maternity benefit programme, was more than doubled to Rs 2,500 crore from Rs 1,200 crore.

Income Tax reliefs: 
* No tax for those whose taxable income is less than Rs 5 lakh 
* Standard deduction increased to Rs 50,000 from Rs 40,000 for salaried class 

Rural allocations: 
* Rs 60,000 crore for MNREGA 
* Rs 19,000 allocated for construction of rural roads under Gram Sadak Yojana 

Defence Budget: 
* Govt increases defence budget to over Rs 3 lakh crore. Govt will provide additional funds for Defence if needed. 
* We have disbursed 35,000 crore rupees under the #OROP scheme in the last few years 

Railways: 
*Railway's operating ratio seen 96.2% in FY19 Vs 95% FY20. 
*Railway capex for FY20 set at record Rs 1.6 lakh crore 
* Today there is not a single unmanned railway crossing on the broad gauge in India. 

Essential commodities in 0-5% GST bracket - GST has been continuously reduced, resulting in relief of Rs 80,000 crore to consumers. Most items of daily use for the poor and middle class are now in the 0%-5% tax bracket

15.56 lakh loans sanctioned - Finance Minister Piyush Goyal announced a sanction of 15.56 lakh loans amounting Rs 7.23 lakh crore under the Mudra scheme. Goyal pointed out that over 70 per cent beneficiaries were women. 

PM Kisaan Samman Nidhi for farmers

  • One lakh digital villages planned in the next five years
  • Fund allocation for the Northeast region increased to ₹ 58,166 crore, a 21% rise over last year for infrastructure development
  • Anti-camcord regulations to be introduced in the Indian Cinematograph Act to prevent piracy and contact theft of Bollywood films.
  • Single window clearance for Indian filmmakers.
  • 25 per cent of sourcing for government projects will be from the MSMEs, of which three per cent will be from women entrepreneurs.
  • National Artificial Intelligence portal to be developed soon

Finance Minister Piyush Goyal announces PM Kisaan Samman Nidhi package for farmers. A sum of Rs 75,000 crore has been allocated for the scheme. The money will go directly to the farmers' account. Each farmer will receive Rs 6000 per year.

Union Budget 2019 | Highlights |Piyush Goyal | GST |Farmers | Income Tax | Defence


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