Piyush Goyal presents Interim Budget 2019: Live Highlights
New Delhi: Amid expectations of big ticket benefits for India's distressed farmers and tax cuts ahead of elections and Opposition attacks on the Modi government over economic issues, Interim Finance Minister Piyush Goyal on Friday began presenting the Interim Union Budget 2019 in Parliament from 11 am.
Following are the LIVE HIGHLIGHTS of the Budget 2019 speech of Goyal:
PM Kisan Yojana: 12 crore farmer families will benefit from it. It will support vulnerable farmers. 75,000 crore for it allocated. Farmers to get Rs 6000 per year income support. The support will reach directly to the accounts of farmers. Farmers who have under 2 hectares of land will benefit from it.
Individual taxpayers earning upto Rs 5 lakh will get full tax rebate. Upto even 6.5 lakh gross income one would not have to pay tax through investments. Standard deduction has also been raised to Rs 50,000 from Rs 40,000
IT Returns to be processed in 24 hours. Within next 2 yrs, all assessment of returns will be done electronically.
We have brought down average rate of Inflation
We have brought down fiscal deficit down to 3.4 percent
GST reform is pathbreaking
India attracted huge FDI
We are ensuring clean banking. Big businessmen also now have to worry about bank default
- We have walked the talk on corruption.
- Our Swachh Bharat mission is a success. India has achieved 98 pc rural sanitation. Over 5 lakh villages are open defecation free.
- We have given 10 pc quota to economically weak.
- We have given almost every household in India free electricity connection.
- We want to bridge urban rural divide by making all facilities available in village.
- We have built 1.53 crore houses in four years.
- Rashtriya Gokul Yojana announced for cow protection. Allocation of Rs 750 cr in current year for the same.
- 2 percent interest subsidy for farmers involved in animal husbandry activities, to be given through kisaan credit card scheme, additional 3 percent subsidy on timely payment of loan
- New Pension Scheme Announced: Employee's contribution is 10%, government's contribution increased from 10% to 14%.
- Separate fisheries department to be set up.
- Nearly 8 crore free LPG connections to be provided to give relief to women using woodfire for cooking. Six crore connections have already been provided.
- Pension scheme to benefit 10 crore unorganised sector workers.
- Panel under NITI Aayog will identify nomadic communities to pass on benefits to them.
- We had promised to implement One Rank One Pension for the men in military services. We have already disbursed over Rs 35,000 crore after implementing the scheme.
- India is the highest highway developer in the whole world.
- All unmanned railway level crossings eleminated in India.
- One lakh digital villages in coming years.
- Allocation for Northeast increased by 21 percent.
- There are over 100 operational airports in the country now.
- GST reduced burden on middle class.
- Direct tax collection up from Rs 6.38 lakh crore to Rs 12 lakh crore
- Single window clearance to Indian filmmakers for shooting.
- Income tax return to be processed and refunds made in 24 hours.
- Efforts to curb piracy of films.
- Cost of mobile calls and mobile data in India possibly lowest in the world.
- India leads the world in consumption of mobile data.
- More than 1 core people filed IT for first time since demonetisation