Budget Highlights 2019
Indian Government Budget Highlights 2019: The Government of India (GoI) financial central department Minister Piyush Goyal presented Union Budget 2019 in Loksabha was appointed on 23.01.2019 (Arun Jaitley undergoing treatment in the United States). The union budget was presented on 01.02.2019 (February 1st, 2019) in Loksabha.
|Name of the Authority||Government of India|
|Name of the Department||Financial Ministry|
|Union Budget Presenter||Piyush Goyal|
|Date of Union Budget 2019||01.02.2019|
|Place of Union Budget||Lok Sabha|
|Honorable Finance Minister||Shri Arun Jaitley|
union budget 2019 highlights income tax
Piyush Goyal stated important main points on Union Budget 2019, we listing important points for examination purpose.
- The tax payment process will be converted into electronically within two years.
- Income Tax returns will be processed in just 24 hours.
- 14% Revenue of GST to all state governments from Central Government.
- The end of customs duty on 36 capital goods.
- Full tax excludes up to 5 lakhs income tax after all deductions.
- Standard deductions have increased from 40,000 to 50,000 rupees.
Other Important Budget Highlights 2019
- State share has increased to 42%
- Two lakhs seats will increase for the reservation up to 10%
- 60000 crores for MGNREGA (National Rural Employment Guarantee Act, 2005)
- 1.7 Lakh crore to ensure food for all
- 22nd AIIMS has to be opened in Haryana State.
- Rs. 6000 per annum has to be given to every farmer having up to 2-hectare land in three installments (Rs.2,000 on every transaction)
- National Kamdhenu Ayog for cows. Rs. 750 crores for National Gokul Mission.
- 2% interest subvention for farmers pursuing animal husbandry and also create a separate department for fisheries.
- Tax-free Gratuity limit increase to 20 Lakhs from 10 Lakhs.
- The bonus will be applicable to workers earning 21000 monthly.
- Pradhan Mantri Shram Yogi Mandhan, will provide assured monthly pension of Rs.3,000 with the contribution of Rs.100 per month for workers in the unorganized sector after 60 years of age.
- Our government delivered 6 crores free LPG connections under Ujjawala scheme.
- 2% interest relief for MSME GST registered a person.
- 26 weeks of Maternity Leaves to empower women.
- More than 3 Lakhs crores for defense.
- One lakh digital villages in upcoming next 5 years.
- Single window for approval of India filmmakers.