Budget 2019 Highlights cover the key factors of the entire Budget. Today on dated 1st February 2019 Union Minister Mr. Piyush Goyal has presented the Union Budget 2019. The total estimate of Budget 2019-2020 is Rs 27, 84,200 Crore. Under this Budget government of India has announced a number of schemes and benefits for poor & Middle-Class Families such as Tax Rebate, PM Kisan Samman Nidhi Yojana & PM Shram Yogi Mandhan Pension Scheme. Budget 2019 Highlights are available here in much-prescribed manner so read the complete article.
Table of Contents
Budget 2019 Tax Rebate
Under the Financial Budget 2019 Government of India has increased the Full Tax rebate for those citizens whose annual income is up to Rs 5 Lakh & Individuals with gross income up to 6.5 lakh rupees will not need to pay any tax if they make investments in provident funds and prescribed equities.
About Budget 2019 & Its Highlights
|Scheme Name||Budget 2019|
|Launched by||Financial Minister Mr. Piyush Goyal|
|Launched date||1st February 2019|
|Ministry||Ministry of Finance|
|Total cost||Rs 27, 84,200 Crore|
|Beneficiary||All citizen of India|
Budget 2019 PM Kisan Samman Nidhi
There are many benefits for Farmers of India. One of these benefits PM Kisan Samman Nidhi Yojana is one. Under the Kisan Samman Nidhi scheme Rs 6,000 per year assured income support for small and marginal Farmers those having up to 2-hectare agricultural lands in three equal installments.
Pension Scheme under Budget 2019
For the middle-class citizens who earn a month, Rs 15000 may avail the benefits of Pradhan Mantri Shram Yogi Maandhan Yojana. This scheme will serve the benefits to unorganized sector workers. You have to pay only Rs. 100 per month and after the age of 60 years, you will get Rs. 3000 per month.
Key Factor of Budget 2019
There are following Key factors of Fiscal 2019
- Fiscal deficit – 3.4%
- Revenue deficit – 2.2%
- Total Cost of Budget Rs 27, 84,200 Crore
- A number of Benefits for poor & Middle Class Families.
- PM Kisan Samman Nidhi yojana for farmers
- Pradhan Mantri Shram Yogi Maandhan Yojana for Private sector workers.
- Check PM Modi Yojana 2019
Highlights Budget 2019
There are following Highlights of Fiscal 2019
- No Income Tax for income up to Rs 5 lakh
- Individuals with gross income of up to Rs 6.5 lakh will not need to pay any tax if they make investments in provident funds and prescribed equities
- Standard tax deduction for salaried persons raised from Rs 40,000 to Rs. 50,000
- TDS threshold on interest on bank and post office deposits raised from Rs 10,000 to Rs 40,000
- TDS threshold on rental income increased from Rs 1.8 lakh to Rs 2.4 lakh
- I-T processing of returns to be done in 24 hours
- Within next 2 years all verification of tax returns will be done electronically without any interface with the tax payer
- Package of Rs 6000 per annum for farmers with less than 2 hectares of land. Scheme will be called Pradhan Mantri Kisan Samman Nidhi.
- Vande Bharat Express, an indigenously developed semi high speed train, to be launched
- One lakh digital villages planned in the next five years
- Fund allocation to Northeast region increased to Rs 58,166 crore in this year, a 21% rise over last year for infrastructure development
- Anti-camcord regulations to be introduced in the Indian Cinematograph Act to prevent piracy and contact theft of Bollywood films.
- Single window clearance for Indian filmmakers will be introduced.
- 25 per cent of sourcing for government projects will be from MSME, of which three per cent will be from women entrepreneurs.
- National Artificial Intelligence portal to be developed soon
- The ESI cover limit has been increased to Rs 21,000. Minimum pension was also increased to ₹ 1000.
- Mega pension scheme for workers from the organized sector with income of less than Rs 15,000. They will be able to earn Rs 3000 after the age of 60 years. The scheme will be called PM Shram yogi MaanDhan Yojana.
- 2% interest subversion for farmers pursuing animal husbandry.
- All farmers affected by severe natural calamities will be given interest subversion for the entire period of three per cent of loans.
- The 22nd AIIMS will come up in Haryana
we hope you get the complete information about this scheme. please visit our website regularly for upcoming government schemes and scholarship programs.