Union Budget 2019 Major Highlights

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Union Budget 2019 Major Highlights

Union Finance Minister Piyush Goyal Today released the last spending plan of NDA Government in the Parliament. He asserted, ‘Conclusive command given by the general population in 2014 aided NDA Government invert approach loss of motion and proceed with structures changes. India is good to go to wind up a 5 trillion dollar economy in the following 5 years and 8 trillion dollar economy in 8 years’.

Twofold Digit Inflation has been effectively controlled, from 10.1 percent in 2009-14 to 2.1 percent in Dec 2018.

Financial Deficit has tumbled to 3.4 percent.

Direct Tax Collections expanded from Rs 6.38 lakh crore in 2013-14 to Rs 12 lakh crore. 99.54 percent returns have been acknowledged sans any examination. GST Collections contacted Rs 1 lakh crore in January 2019.

Tax Rebate for Individuals having anual salary up to Rs 5 lakh. Those Individuals with gross pay of up to Rs 6.5 lakh need have to pay any tax obligation on the off chance that they influence they to put resources into provident assets and prescribed equities.

TDS Threshold Rental Income raised from Rs 1.8 lakh to 2.4 lakh.

Gratuity Limit Increased from Rs 10 lakh to 30 lakh.

TDS Threshold on interest from Bank and Post Office Deposits expanded from Rs 10,000 to 40,000.

Businessperson will not as much as Rs 5 lakh yearly turnover can record quarterly returns.

Pradhan Mantri Kisan Samman Nidhi Scheme: Farmers having under 2 hectares of land will be paid Rs 6,000 every year in three portions. Evaluated cost of this plan is around Rs 75,000 crore.

2 Percent Interest Subvention to Farmers dependant on Animal Husbandry and Fisheries.

2 Percent Interest Subvention to Farmers influenced by serious cataclysmic events. Extra 3 Percent Interest Subvention ensured on Timely Loan reimbursement.

Mega Pension Yojana: Monthly Pension of Rs 3,000 for Senior Citizens (at least 60) with commitment of Rs 100 every month. 10 Lakh People of the unorganised sector will get benefitted from this scheme.

LPG Connections: Right now, Government is giving Rs 6 crore LPG Connections. More than 8 crore free LPG Connections will be offered one year from now.

10 Percent Reservation for Economically Weaker Sections of General Category: Won exasperate the current reservation framework.

Rs 35,000 crore dispensed to soldiers under One Rank One Pension (OROP) Scheme. Defence Budget will be raised to over Rs 3 lakh crore. Significant Pay Hike for Soldiers.

Development of Rural Roads: 15.8 lakh out of absolute 17.84 lakh habitations have been between connected with streets under Pradhan Mantri Gram Sadak Yojana (PMGSY). Rs 19,000 crore allotted for the development of Rural Roads.

Cost of Voice Calls and Data in India is one of the most reduced in the World. Mobiles and Mobile Parts Manufacturing expanded in the nation from 2 to 268.

Single Window Clearance for Filmmaking will be presented. Hostile to Camcording Provision will be brought under Cinematography Act to avert Film Piracy.

Portion for North Eastern Region raised to Rs 58,166 crore. A 21 percent expanded contrasted with a year ago.

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