JOIN USKey points from Union Budget 2019
The BJP-led NDA government presented its last Budget today, before the 2019 Lok Sabha polls.
Here is a look at the key points of the Budget presented by the interim Finance Minister Piyush Goyal:
1. Individuals with income up to Rs 5 lakh will not have to pay any income tax.
2. Rs 18,500 tax benefit to an estimated 3 cr taxpayers because of increase in tax exemption limit.
3. TDS threshold on interest from bank, post office deposits raised from Rs 10,000 to Rs 40,000.
4. Persons with gross income of Rs 6.5 lakh annually will not have to pay any tax after considering investments of Rs 1.5 lakh in tax saving schemes.
5. Rs 76,800 crore allocated for welfare of SCs/STs for 2019-20, up from Rs 62,474 crore in 2018-19.
6. Farmers to be provided Rs 6,000 per year in three installments, to be fully funded by the central government.
7. Single window clearance for film-making to be made available to Indian film-makers, anti-camcording provision to be introduced to the Cinematography Act to combat piracy.
8. 1 lakh digital villages to be created in the next five years.
9. Govt to launch mega pension yojna for 42 cr unorganised sector workers; assured monthly pension of Rs 3,000 after reaching the age of 60 years.
10. Building physical and social infrastructure for USD10 trillion economy, outlining 10-year vision in the Interim Budget speech.
11. Defence budget increased to over Rs 3 lakh cr in 2019-20.
12. Gratuity limit increased from Rs 10 lakh to Rs 30 lakh
13. 75pc of woman beneficiaries under Mudra Yojana, 26 weeks maternity leave and Pradhan Mantri Matritva Yojana towards women empowerment.
14. 645.87 billion rupees allocated for railways capital expenditure in 2019/20.
15. Allocation to India's northeast region proposed to be increased by 21% over the previous fiscal year.