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Indian Interim Budget-2019-20 Highlights.



Union Budget-2019  
1. Took 55 years to make India $1 trillion economy, we added as much in 5 years
2. Govt to implement enabling measures to boost IFSCs
3. Sitharaman proposes changes to kickstart domestic & foreign investment
4. 657 km of metro lines have become operational
5. Loan up to 1 cr for MSMEs in 59 minutes, says FM
6. Sitharaman proposes changes to kickstart domestic & foreign investment
7. Time right for India to enter aircraft financing
8. UDAY to be re-examained, new package for power sector tariffs, says FM
9. FM proposes measures to promote rental housing
10. Nirmala Sitharaman says Sebi asked to mull minimum public shareholding to 35% from 25%
11. Budget 2019 speech: Will examine proposals on 100% FDI in aviation, media
12. Local sourcing norms will be eased for single-brand retail sector, says FM
13. Village, poor and farmers are at the centre of all of our govt's programs, says FM
14. Govt will invite suggestions for further opening up of FDI in aviation sector, media, animation
15. 30,000 km roads built using green tech, recycled plastic, says FM
16. 19.5 million houses to be constructed under PMAY from FY20 to FY22
17. Sebi has been asked to consider increasing minimum public shareholding criterion from 25% to to 35%
18. Will replicate zero-budget farming
19. Nirmala Sitharaman proposes to merge NRI portfolio scheme route with foreign portfolio investment route
20. 96 million toilets built since Oct 2, 2016 under Swachh Bharat
21. Solid waste management to embrace all villages under Swachh Bharat
22. Swachh Bharat has brought enormous environmental and health benefits. 9.6 crore toilets have been constructed and more than 5.6 lakh villages have become open-defecation free, she says while proposing to expand and undertake solid waste management in every village
23. Programmes exclusively for start ups on DD News.
24. National education policy to propose changes in school, higher education: FM
25. 95% cities in India have become open-defecation free
26. Greater thrust on investment in suburban railway networks
27. UJALA scheme - Approximately 35 crore LED bulbs have been distributed leading to cost saving of Rs 18,341 crore annually, she says. We will use the mission of LED bulb method to promote solar in the country, she adds.
28. The Pradhan Mantri Shram Yogi Maan Dhan Yojana of providing Rs 3,000 - nearly 30 lakh workers have joined the scheme, she says
 29. For the women of India - Naari to Narayani has been the tradition of the country., she says quoting Swami Vivekananda, "There is no chance for the welfare of the world unless the condition of women is improved. It is not possible for a bird to fly with one wing
30. Railways to be encouraged to invest more in suburban network via SPVs
31. NPAs reduced by over Rs 1 trn; Rs 4 trn recovered via IBC
32. PSU banks to get Rs 70,000 crore boost for credit improvement
33. RBI to take over as HFC regulator from NHB, says FM
34.The government proposes Rs 100 lakh crore investment for infrastructure over 5 years, she says
35. The government is setting an enhanced target of Rs 1,05,000 crore for disinvestment during FY20 and will continue with disinvestment of PSUs in the non-financial space as well, she says 
36. One-time six month partial credit guarantee to buy pooled assets of sound NBFCs: FM Nirmala Sitharaman
37. Currently, only 25% tax rate is applicable to companies with an annual turnover of Rs 250 crore. This has been extended to companies with turnover of up to Rs 400 crore. Only 0.7% companies will remain outside of this 25% rate. 
38. Direct tax revenue has grown 78 percent from 2014 to 2019: FM Nirmala Sitharaman
39. The tax collection has increased to 11.37 lakh crore to 2018-19 from 6.37 lakh crore from 2013-14, she points out.





Interim Budget-2019
  1. Farmers were not getting full return of their investments in the past years. For the first time in history, this government set up the MSP which was at least 50% more than the expenditure of the farmers.
  2. Rashtriya Kamdhenu Aayog to be set up for the upgradation of cow resources. This government will not leave any stone unturned to respect the cows and work for their welfare 12 crore families will benefit from the scheme. The government expenditure on account of this scheme will be Rs 75000 crore per annum.
  3. To provide an assured income support to small farmers, the government has approved a new scheme PM Kisan. Under this scheme, farmers with less than 2 hectare land will get Rs 6000 per annum income support from the government.
  4. We have given a major uplift in public healthcare. Ayushman Bharat, launched with an aim to provide medical care to nearly 50 crore people, has resulted in 3,000 crore savings by families of poor sections. 21 AIIMSs are operating or being established, 14 of these have been announced since 2014. Now the 22nd AIIMS will be set up in Haryana.
  5. We have worked to bridge the urban-rural divide. From empty promises in the past, targeted expenditure has been undertaken to improve the quality of life in villages; we aim to bring development, preserving the soul of villages. Construction of rural roads has been tripled under the pradhan mantri gram sadak yojna.
  6. Efforts taken to bring full representation for economically weak backward classes, by giving them reservation in jobs and education.
  7. Over 5 lakh villages have been declared open defecation free. This is no longer a government scheme but a public initiative. We want to thank the people of the country for this initiative.
  8. Defaulting managements are now either paying or leaving their businesses. To restore the health of banking sector, recapitalization amounting to 2.6 lakh crore has been done. Confident that given the pace of reforms in banking sector, other banks too will recover:
  9. Farmers income have doubled. Fiscal deficit has been brought down to 3.4% in the revised estimate of 2018-19.
  10. We are the fastest growing major economy in the world today. Besides generating high growth rate we have contained double-digit inflation.
  11. India is solidly back on track. We have prepared the foundation for better growth of life and marching towards growth and prosperity.
  12. All farmers affected by severe calamities will be provided relief on interest by upto 5 per cent.
  13. Gratuity limit increased from 10 lakh to Rs 30 lakh. High growth and formalization of economy has resulted in increased EPFO membership by 2 crore in last two years.
  14. Mega pension yojna launched. Under this, it will benefit people earning upto Rs 15000. Named Pradhan Mantri Shram Yogi Mandhan, it will provide assured monthly pension of Rs 3000 per month, with contribution of Rs 100 per month, for workers in unorganized sector after 60 years of age.
  15. Job seeker now a job creator. India has become the second largest hub of start ups. In order to take the benefits of artificial intelligence, a special programme has been envisaged by the government. Nine priority areas have been identified for the same.
  16. Women development to Women led development. 75% of woman beneficiaries under PM Mudra Yojana, 26 weeks of maternity leave and Pradhan Mantri Matritva Yojana, are all empowering women.
  17. We had promised OROP in our election manifesto. We have disbursed over Rs 35,000 crore after implementing the scheme in true spirit. The govt has also announced substantial hike and additional allowances for armed forces. It is for the first time that we announced Rs 3 lakh crore for Defence Budget, if needed we will increase this further.
  18. More than 100 operational airports, domestic air travel has more than doubled in the past 4 years.
  19. Rs 64,587 crore allocated for Railways. Overall capital investment also is a historic Rs 1,58,658 crore for the 2019-2020. Vande Bharat Express will provide speed, service and safety to citizens and will give a boost to Make In India.
  20. Urgent action needed to increase hydrocarbon production to decrease imports; change in bidding procedure and exploration procedure being implemented.
  21. India is leading the world in consumption of mobile data. The data consumption has increased by at least 50% in the last 4 years. This has also generated employment. We aim to establish 1 lakh digital villages in the coming year.
  22. Aadhaar is now universally implemented which has helped in limiting corruption by middlemen.
  23. Entertainment industry is a major employment generator. We are working to amend Acts to ensure the end of piracy. We recently watched 'Uri'. It was much fun and had 'josh'.
  24. Tax collection increased significantly to almost 12 lakh crore this year. Thank the honest tax payer for their contrutions. We want to ensure people that their money has been used for the upliftment of the poor.
  25. With GST implementation, India has become one big trade market. Now returns are fully online. Interstate movements have become faster. High tax effects on the consumers have been significantly reduced.
  26. GoM is deliberating how to help home buyers and reduce their GST tax burden
  27. Businesses with less than Rs 5 crore annual turnover, comprising over 90% of GST payers, will be allowed to return quarterly returns. GST collections in January 2019 has crossed Rs 1 lakh crore.
  28. The NDA govt has laid the foundation for the next 10 years. We are poised to become a 5 trillion dollar economy in the next five years, we aspire to become a 10 trillion dollar economy in the next eight years.
  29. Vision 2030 for India's development in the next 10 years. This includes 10 main vision points - 1) building next-gen infrastructure; 2) building stronger digital India; 3) Making India a clean and pollution free, India will lead the world in transport revolution; 4) Expanding rural industrialisation to ensure massive employment; 5) Clean rivers; 6) Oceans and coastlines is the sixth dimension of our vision for 2030; 7) India's Space programmes, India aims to become launchpad of the world, placing an Indian astronaut in space by 2022; 8) Making India self sufficient in food; 9) Healthy India, with distress-free and comprehensive wellness system for all; 10) Minumun Government Maximum Goevrnance with proactive and responsible bureaucracy, electronic governance is the 10th dimension of our vision for India for 2030.
  30. Individual tax payers having income upto Rs 5 lakh will get full tax rebate.
  31. Individual taxpayers earning upto Rs 5 lakh will have have to pay any income tax rebate. Those who have gross income upto Rs 6.5 lakh also will not have to pay any tax if investments are made upto Rs 1.5 lakh. Standard tax deduction for salaried persons raised from Rs 40,000 to Rs 50,000.
  32. TDS threshhold on banks and post office deposits raised from Rs 10,000 to Rs 40,0000. TDS threshold on rental income raised from Rs 1.8 lakh to Rs 2.4 lakh.
  33. Benefit of rollover of capital tax gains to be increased from investment in one residential house to that in two residential houses, for a taxpayer having capital gains up to 2 crore rupees; can be exercised once in a lifetime
  34. Benefits under Sec 80(i)BA being extended for one more year, for all housing projects approved till the end of 2019-2020. This is not just an Interim Budget, this is a vehicle for the developmental transformation of the nation.

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