READ: Piyush Goyal's Interim Budget speech

READ: Piyush Goyal's Interim Budget speech

Budget 2019 was heavy on doles and sops, with farmer support income and Income Tax relief being some of the biggest announcements

Finance Minister Piyush Goyal on Friday delivered the interim union budget for FY20. This is the last budget of the current NDA government ahead of the upcoming 2019 Lok Sabha Elections.

In his speech in Parliament, Goyal announced a number of doles and relief measures, including an income support measure where farmers with land of up to 2 hectares would be given Rs 6,000 annually. In addition, Goyal announced that direct tax collections were up from Rs 6.38 lakh cr in FY15 to Rs 12 lakh cr in FY19.

For the salaried class, Goyal announced a major relief where people with annual incomes of up to Rs 5 lakh were exempt from paying income tax. He also announced an increase in the standard deduction from Rs 40,000 to Rs 50,000.

Read his full speech here: