Interim Budget 2019-20 | Highlights

Interim Budget 2019-20

Interim Budget 2019-20 was presented ➢ 2% interest subvention to farmers who

in Parliament today by the Union Minister pursue animal husbandry, fisheries jobs
for Finance, Corporate Affairs, Railways & through Kisaan credit cards
Coal, Shri Piyush Goyal. Besides having a ➢ Kamdhenu scheme for animal husbandry.
major Scheme for the farmers, it provides
tax sops and sets the Developmental Income Tax reliefs:
Agenda for the years to come. ➢ No tax for those whose taxable income is
A New Deal for 12 Crore Small and less than Rs 5 lakh
Marginal farmers with direct income ➢ Standard deduction increased to Rs
support, a path breaking Pension initiative 50,000 from Rs 40,000 for salaried class
for 10 Crore unorganized sector workers, ➢ Direct tax collection at 12 lakh Cr INR in
exempting income up to Rs 5 lakhs from FY19 from 6.30 INR Lakh Cr in 2014.
Income Tax, reforms in stamp duty,
highest ever budgetary allocation of Rs 3 Tax exemptions on investments:
lakh crore for Defence, record allocation ➢ Individuals with gross income up to 6.5
of funds at Rs 58,166 crore for North lakh rupees will not need to pay any tax if
Eastern Areas, a new AIIMS for Haryana, they make investments in provident funds
single window clearance for Indian film and prescribed equities
makers at par with foreigners and higher ➢ TDS threshold for home rent increased
budgetary allocations for Education, from Rs 1.8 lakh to 2.4 lakh
Health, Infrastructure and for the welfare ➢ Interest income up to Rs 40,000 in post
of weaker sections including Scheduled offices and banks made tax free
Castes and Scheduled Tribes, a Separate ➢ Capital gains tax exemptions under
Department of Fisheries for welfare of 1.5 Section 54 to be available up to Rs 2
crore fisherman are some of the major crore. Capital gains exemption to be
highlights of the Interim Budget 2019-20. available on 2 house properties
➢ Income tax relief on notional rent from
Interim Budget 2019 Highlights unsold houses extended to 2 years from 1
year.
For farmers:
➢ New Scheme- namely “Pradhan Mantri
KIsan SAmman Nidhi (PM-KISAN)” to
extend direct income support at the rate of
Rs. 6,000 per year to farmer families,
having cultivable land upto 2 hectares is
announced.
➢ Rs 6,000 per year assured income support
for small and marginal farmers
➢ Farmers having up to 2 hectare of lands
will get Rs 6,000 per year in three equal
instalment. The scheme will be effective
from December 1, 2018.
➢ Interest subvention for farm loan takers:
Farmers affected by natural calamities to
get 2% interest subvention and additional
3% interest subvention upon timely
repayment

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 Interim Budget 2019-20 | Highlights

Defence Budget: Fiscal Deficit:

➢ Govt increases defence budget to over Rs ➢ For FY19, government has revised the
3 lakh crore. Govt will provide additional fiscal deficit target to 3.4 percent in FY 19.
funds for Defence, if needed. Fiscal deficit for 2019/20 estimated at 3.4
➢ Disbursed 35,000 crore rupees under percent of GDP.
#OROP scheme in the last few years. ➢ Government's stated commitment earlier
was to bring down the fiscal deficit to 3.1
Railways Budget: percent of GDP by the end of March 2020,
➢ Rs 64,587 crore allocated to Railways for and to 3 percent by March 2021
FY20. ➢ Current account deficit at 2.5% of the
➢ Railway's operating ratio seen 96.2% in GDP.
FY19 Vs 95% FY20.
➢ Railway capex for FY20 set at record Rs Nine priority sectors for government:
1.6 lakh crore. To build next-gen infrastructure - physical
as well as social;
For workers: 1. To build a Digital India that reaches every
➢ Rs 3,000 per year pension for unorganised citizen;
sector workers 2. Clean and Green India;
➢ New Pradhan Mantri Shram Yogi 3. Expanding rural industrialization using
Maandhan Yojana for unorganised sector modern industrial technologies;
workers with income up to Rs 15,000 per 4. Clean Rivers - with safe drinking water to
month. Beneficiaries will get Rs 3,000 per all Indians;
month pension with a contribution of Rs 5. Oceans and coastlines;
100 per month after retirement. Govt 6. India becoming launchpad of the world;
allocates Rs 500 crore for the scheme 7. Self-sufficiency in food and improving
➢ Gratuity limit increased for workers to Rs agricultural productivity with emphasis on
30 lakh. organic food;
8. Healthy India;
Education Sector: 9. Minimum Government
➢ National Education Mission allocation MaximumGovernance, with proactive,
increased by about 20% to Rs. 38,572 cror responsible and friendly bureaucracy.
in BE 2019-20
➢ 25% additional seats in educational
institutions to meet the 10% reservation
for the poor
➢ 10% reservation for the poor in
educational institutions and government
jobs
➢ EWS Reservation To ensure 10%
reservation in educational institutions and
Government jobs for economically weaker
sections, the Government will provide for
25% extra seats i.e. around 2 lacs, while
maintaining the existing reservation for
SC/ST/Other Backward Classes.

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 Interim Budget 2019-20 | Highlights

Miscellaneous Highlights: people, resulting in Rs 3,000 crore savings

➢ Growth in the last 5 years has been higher
than that by any other govt. Spent Rs 2.6
lakh crore in recap of PSU Banks.
➢ Domestic air traffic doubled in the last 5
years
➢ Over 90 percent of the country covered
under sanitation coverage.
➢ In the past, false promises were made but
we have taken targeted expenditure on all
dimensions
➢ Ayushman Bharat, the world's largest
healthcare programme, was launched to
provide medical care to almost 50 crore
by poor families
➢ Lower costs of Stents & Knee implants
have benefitted people. Government has
announced 14 new AIIMS since 2014
➢ Loans worth Rs 7.23 lakh crore have been
given under Mudra Yojana
➢ Monthly mobile data consumption has
increased 50x in last 5 years; cost of data
& voice calls in India is possible the lowest
in the world.
➢ Allocation for the north eastern region has
been proposed to be increased to Rs
58,166 crore

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