(Image source from: Ndtv.Com)
Union Budget Highlights 2019:- Union Minister Piyush Goyal introduced the Interim budget 2019 which is named as the last budget before the Lok Sabha elections. Narendra Modi's BJP announced several benefits for the people of the country. Here are the highlights of Union budget 2019:
- Duty of customs have been removed for 36 goods.
- GST rates reduced for new homes
- Full tax exemption for all those whose annual income is less or equal to Rs 5 lakhs.
- Tax assessment will be done electronically in 2 years.
- The processing of IT Returns will be made possible in 24 hours.
- Minimum 14% revenue of GST to the states by Centre
- Standard deduction increased to 50000 from 40000.
- If you have a second house, tax exemption offered.
- Bank loans increased to Rs 35,984 crores.
- Kisan Credit cards will have 2% interest rebate.
- Ujwala Yojana to offer 8 crores free gas connections to households.
- Accident insurance for workers increased from Rs 1.5 lakhs to Rs 6 lakhs.
- Pension scheme applicable for everyone who are over 60 years.
- Railways to introduce Vande Bharat trains
- Railway budgetary support to get Rs 64,587 crores.
- Eastern states to get benefits worth Rs 15,166 crores.
- Solar power generation increased by 10 times.
- 34 crores Jan Dhan accounts have been opened.
- People who are paying interests increased by 80%.
- Entertainment tax (GST for films) will be restricted to 12%.
- 27 kms roads built on regular basis.
- New airports to be finalized and operated.
- Special discounts for electronic vehicles.
- Make In India to get more industries in rural areas.
- Ganga river to be made pollution free.
- More budget to be allotted for space missions.
- Food products to be more vital.
- Promoting pesticide free crops across the country.
- Every Indian to have health insurance by 2025.
- Rs 27,584 crores for children development schemes.
- Rs 38,572 crores for National Education Mission.
- SC and STs to get Rs 76,000 crores.
- Rs 97,100 crores collected as taxes per month.
- Rs 3.27 lakh crores for Central sponsored schemes.
- Government spending increased by 13.3% when compared to last year.
