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BUDGET 2019 HIGHLIGHTS


Growth Oriented, Progressive and Relaxing Budget-2019 will give extra power to boost economy as a whole
  • ·     *  Individual taxpayers having annual income upto 5 lakhs will get    full     tax rebate
  •  ·      Capital gains exemption under section 54 increased to Rs 2 crore, to be available on 2 house properties
  •  ·       Standard Deduction for Salaried person incresed from Rs. 40k to 50k
  •  ·      TDS Threshold Limit on Banks , Post office increased from Rs. 10k to 40k
  •  ·      TDS Threshold Limit on Rent increased to Rs. 240000/
  •  ·      No Tax on Notional Rent on two self occupied house property.
  •  ·      Finance Minister says Rs 38,572cr allocated for National Education Mission
  •  ·       Govt allocated Rs 38,572 crore for National Education Mission
  •  ·       Govt sets Rs 76,800 Cr for welfare of SC/ST
  •  ·       We are poised to become a 5 trillion dollar economy in the next 5 years and we aspire to become a 10 trillion dollar economy in the next 8 years 
  •  ·      More than 1 crore people filed IT returns for the first time, after demonetization
  •  ·     Committed to eliminating the scourge of black money; anti-black money measures taken have brought an undisclosed income of about 1.30 lakh crore rupees to the fore; 3.38 lakh shell companies were deregistere
  •           Businesses with less than Rs. 5 crore annual turnover, comprising over 90% of GST payers, will be allowed to return quarterly returns: FM
  •         The Group of Ministers is examining how prospective house buyers can benefit under Goods & Services Tax (GST)
  •          GST has been continuously reduced resulting in relief of Rs 80,000 crore rupees to the consumers;  Most items of daily use are now in the 0%-5% tax bracket
  •         GST is probably the biggest taxation reform implemented since Independence; with tax consolidation, India became one common market; inter-state movements became faster through e-way bills, improving Ease of Doing Busine
  •         Within nearly two years, almost all assessment and verification of IT returns will be done electronically by an anonymized tax system without any intervention by officials
  •          All tax returns will be processed in 24 hours going ahead
  •          Direct tax collections increased from Rs 6.38 lakh crore in 2013-14 to almost Rs 12 lakh crore; The tax base is up from Rs 3.79 crore to 6.85 crore
  •          Govt will set up 1 lakh digital villages in the next 5 years
  •          A single window clearance for filmmaking to be made available to filmmakers, anti-camcording provision to also to be introduced to Cinematography Act to fight piracy
  •          Mobile Date increased to 50 times and cost is less the any country in the word.
  •         34 crore Jan Dhan Yojana accounts opened in last 5 years: FM
  •         Govt projects now have to source 25% of their requirements from SMEs: FM
  •          Capital support for Railways at Rs 64,587 crore for FY20: FM
  •          For the first time, the defence Budget has been raised to over Rs 3 lakh crore, FM says will provide additional funds for defence, if needed
  •          Soldiers our pride and honour; OROP, pending for last 40 years, has been implemented by us. Already disbursed 35,000 crore rupees for soldiers under OROP, substantial hike in military service pay announced:
  •         75% of woman beneficiaries under Pradhan Mantri Mudra Yojana, 26 weeks of maternity leave and the Pradhan Mantri Matritva Yojana, are all empowering women in the country
  •         FM announce 8 crore free LPG connections under 'Ujjwala' Yojana
  •         New Pension Scheme - employee's contribution is 10%, government's contribution increased from 10% to 14%
  •          Gratuity payment limit has been increased from Rs 10 lakh to Rs 20 lakh: FM
  •         Govt announced Pradhan Mantri Shram Yogi Maandhan Yojana for organised sector worker with income up to Rs 15,000 per month. Beneficiaries will get Rs 3,000 pension after the retirement
  •          FM Piyush Goyal: Instead of rescheduling of crop loans, the farmers severely affected by natural calamities will get 2% interest subvention and additional 3% interest subvention upon timely repayment
  •         FM announce 2% interest subvention for animal husbandry & fisheries sector
  •         Govt increased allocation for Gokul Scheme to Rs 7,500 cr
  •         Farmers owning up to 2 hectares to get Rs 6,000 per year under PM Kisaan Samman Nidhi. About 12 crore farmer families will benefit from the programme; it will be implemented from December 2018 itself. It will cost the government Rs 75,000 crore annually
  •         2/1/2019 Union Budget 2019 - Live Updates|CASANSAAR 1071
  •         Farmer package to cost govt Rs 75,000 crore – FM
  •         FM says 10 lakh people treated under Ayushman Bharat so far
  •         PMGSY allocation Rs 19000 crore, same as budgeted for 2018-19
  •         As a tribute to Mahatma Gandhi, world's largest behavioural change movement Swachh Bharat initiated; more than 98% rural sanitation coverage has been achieved; more than 5.45 lakh villages declared ODF
  •         14 new AIIMS launched accrosed the country.
  •           FM says RERA & Benami Property Act helped bring transparency in the realty sector
  •          FM says moving to an India where farmer incomes will double by 2022
  •          Rs 60,000 crore allocated for MNREGA this year
  •          BoI, BoM & OBC are out of PCA framework, FM expect other banks to soon exit prompt corrective action.
  •          Govt spent Rs 2.6 lakh crore in recapitalisation of PSU banks and recovered Rs 3 lakh crore via IBC process
  •         We have set the stage for decades of high growth with path-breaking structural reforms such as the GST
  •         The govt has contained double-digit inflation & restored fiscal balance.
  •         FM says inflation under Modi govt lower than any other govt
  •         Fiscal deficit seen at 3.4% in FY19, CAD at 2.5% of GDP
  •          Average inflation in UPA government was 10% and we have brought that down that to 4 percent
  •          FM says govt has made many transformational & structural reforms
  •          6th Largest Economy in the Word.
  •          FM Starts Budget speech by wishing ailing Arun Jaitley a speedy recovery.
  •          Parliament Session Starts, FM Piyush Goyal Presents Union Budget.
  •          Cabinet has approved the Interim Budget
  •          Copies of Budget brought to Parliament
  •           FM Piyush Goyal arrives at Finance Ministry; to present the Interim Budget at 11 am


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