As on 1 Feb, 2019 Proves out the day to major announcements by the Finance minister Piyush Goyal present the sixth and the final budget of the National Democratic Alliance’s (NDA). As the reason, Piyush Goyal presented the budget is that the finance minister Arun Jaitley is one the medical leave due to some illness. So Mr. Piyush Goyal presented the nation the Interim Budget for 2019. Check what the Budget has for you.
In the article, you will get the Highlights of the Points announced in the Budget by the respective Minister. But before you read the pointe you should be aware of:
What is Interim Budget mean?
The Budget announced is named today is the Interim Budget. As it is named so as it is Vote an account for the next 4 to 5 months. The complete budget is announced before the election and is the last budget of the current government.
Highlights of the Interim Budget
Read what the Minister announced in the Interim as the major Highlights from the budget is listed for you as in the following points.
On the track of Development
Piyush Goyal stated that the current government is on the track of development under the guidance of the Prime Minister Narendra Modi. The nation has emerged as the world 6th largest economy in the world.
Inflation Under control
Inflation in the country is the curse for a country. It has been reduced and after the hard work and dedication of the BJP for the country to put the inflation under control. It has been dropped to 4.6%
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Fiscal Deficit
As the BJP minister indicated that the government has brought the Fiscal Deficit 3.4%. In the current financial year, it would be 2.5%.
Direct Bank Transfer of Rs. 6000 for farmers
Another good news came for the farmers of the country. As the government has decided to give Rs. 6000 to the farmers who own the land 2 hectares or less area. The amount would be given in the form of three installments. The Scheme named as Prime Minister Kisan Samman Yojana would come to implementation and benefit from 1 Dec 2018 would be regulated. It will benefit the 12 crore farmers of the country. The government has already increased the support price of 22 crops.
PM Shram Yogi Mannhan Yojna
The government is to start the PM Shram Yogi Mannhan Yojna under which the Shram means the workers of the unorganized sector would be given a pension after the age of 60, amount of Rs. 3000/- As the candidate has to give Rs. 100 per month to become part of the scheme.
750 Crore for Preservation of Cows
The government for the preservation of the cows announced the amount of Rs. 750 crore under the Rashtriya Gokul Mission.
2% decline interest for Fisheries husbandry
The government announced the decline of the interest rate of 2% for the seeker of the loan for the Fisheries and the animal husbandry. Even if the crop loan repayment timely by the farmer the government will provide the interest of 3 % and 2 % subvention in case of natural calamities.
Increased Gratuity Limit
The Government has also increased the gratuity limit from 10 lakh to 30 lakh.
Worker Compensation
On the death of the worker, the compensation provided to the family has been increased from 2.5 to 6 lakhs in case of an accident.
Defense Budget
The defense has also got a good amount this time from the budget. The amount allocated is more than 3 lakh crores.
Tax Exemption
No tax is required to be paid for the amount up to 5 Lac. It has been increased by the government from 2.5 lac. And no tax would be charged for the deposit of Rs. 40,000/- For the investment of 6.5 Lac for a business tax is exempted by the government.
Pradhan Mantri Matritva Yojana
75 % of women are currently getting the benefit of the Mudra Yojana. And the government has also increased the maternity leave up to 26 weeks.
8 crore LPG Connection
As per the government, it has given 6 crore LPG Connection to the people. And in the coming time, 8 crores more is to be given in rural areas.
Rail Budget
Railway also becomes the beneficiary form the Budget. Allocation for North Eastern Region is to be increased to Rs 58,166 crore in this year. It is 21 % from the previous year. Will give the passenger a world-class facility.
Single window Clearance
To get the permission for the shooting a single window clearance system for film making. Anti -camcording to prevent the film piracy. The taxation slab for the cinema has also been reduced.
Government vision for 2030
As per the Minister the government will try to focus more on the development as also mentioned in the speech the budget is not the interim budget but the budget to development. The government is to focus on the following sector in the coming years.
- DigitalIndia
- Clean & Green India
- Physical & Social Infra
- Rural Industrialization
- Clean Rivers
- Oceans & Coastline
- Space
- Self-sufficiency in Food Production
- Health
- Minimum Government Maximum Governance
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