INCOME TAX

 More than Rs.23000 crores tax relied to 3 crore

middle class tax payers
 Standard tax deduction for the salaried persons
raised from 40000 to 50000
 TDS threshold raised from Rs.10000 to 40000 on
interest earned on bank [post office deposits/ it
benefits senior citizens and small depositors who
depend upon income from interest on bank deposits
and post offices.
 IT processing of return to be in 24
 Within the next 2-years, all verification of tax returns
done electrically without any interface with the
taxpayers
 Existing rates of income tax to continue
 If an individual invests in the specific tax savings
schemes of the government, the effective tax-free
income limit will be Rs.6.5 lakh a year
 Goyal proposed to increase income tax deducted at
source (TDS) limit on rent income to Rs.2.4 lakh from
the current Rs.1.80 lakh
 FARMERS
 Under Pradhan Mantri kisan samman
nidhi (PM-KISAN) Rs.6000 per year for
each farmer, in three installments, to be
Transferred directly to farmers account,
to farmers less than 2 hectares land
holding.
(This initiative like to benefit 12 crore
small and marginal farmers)

Under this scheme, vulnerable farmers

having less than two hectare of land will
be eligible for the benefit under the
scheme

Around 12 crore farming families will be

directly from his scheme
 The finance minister also announced
setting up of Pradhan mantri kisan
samman nidhi for distursment of money
to the follower

 He announced a fund of Rs.75000 crore

for the PM kisan scheme for 2019-20 and
Rs.20000 crores for the current 2018-19
financial year
 The interest subvention of up to 5% for
fisheries and animal husbandry will help
farmers

PENSION
 Pradhan Mantri sharam yogi mandhan
that offers a pension of Rs.3000, per
month after the age of 60 to unorganized
sector workers with monthly income of up
to Rs.15000
 Under the scheme, an Unorganised Sector
worker joining pension yojana at the age
& 60 years while a worker joining at 18
years will have to contribute just Rs.55
per month
 The government has earmarked Rs.500
crore for the scheme
 “half of India’s GDP comes from the sweat
and toil of 42 crore workers in the
unorganized sector”, Goyal said in his
interim budget speech
 He said at least 10 crore labourers and
workers in the unorganized sector are
expected to avail the benefits of the
scheme with in the next five years,
“Making it one of the largest pension
scheme in the world.
 Tax Proposal 2019-20 at Glance for
Business MSME & Real Estate:
 Benefits Under Sec-80 lba to be
extended for more year to the housing
projects projects approved till 31st
march 2020
 MSES with earnings below Rs.5crore will
be soon file GST return only one in 3
months
 MSME and traders to note the GST
registered SME units will get 2% interest
rebate on the incremental loan of Rs.1
crore
 The requirements of the source from
SMES by government enterprise has
been increased to 25% with 3% reserved
for women-owned SME’s
 A scheme of the Business loans up to
Rs.1 crore in 59 minutes will be
implemented.

Banking Reforms of Insolvency and

bank ruptey code (IBC)
 Outstanding loans of public sector
increased from Rs.18 lakh crore to
Rs.52 lakh crore. Under clean
Banking initiative
 4R. Approach I.e., Recognisition,
Resolution, Recapitalisation and
reforms is being followed
 The insolvency and bank ruptey
code has institutionalized a
resolution-friendly mechanism
 Consequently Rs.3 lakh crores has
been covered to this effect
 A sum of Rs.2.6 lakh has been
directed towards recapitalization of
the public sector bank (PSB’s)
 Amalgamation of banks in place to
avail economics of scale, better
capital and wider geographical
coverage

RAILWAY
 Capital support of Rs.64,587 crore
proposed in 2019-2020(B6) from the
budget.
 Overseas Capital Expenditure
Progamme to be Rs.1,58,658 crore
  Operating Ratio Expected to
improve from 98.4% in 2017-18. 0
to 96.2% in 2018-19(R6) and to 95%
in 2019-202(B6)
 Safest year for railways in the
history

Digital villages:
 THE Government to make 1 lakh
villages into digital villages over
next five years
 DEFENCE
 The defence budget was
increased for the first time to
three lakh crore in 2019-20
 Piyush goyal said the government
as rolled out the one rank one
pension scheme(OROP)
 The 2018-19 Union Budget
witnessed a mere 7.81% hike to
Rs.2.98 Trillion, while in 2018=7-
18 it stood at Rs.2.74 Trillion
DEFENCE BUDGET 2019-20
 Allocation Rs.4,31,011 crores
to the Ministry Of Defence
(MOD) of the MOD’s total
allocation Rs.3,01,866 crores
is earmarked for what is
conventionally termed as the
defence budget.
 The defence account for 70%-
The balance 30% enmarked
for MOD’s civil expenditure
 Owning the implementing of
the 7th central pay
commission
 recommendations and
Rs.35,000 crore spent on
account of the our rank one
pension (OROP)scheme.

Share of defence service:

Like in the part the army has the
dominant share in the latest
defence allocation though it is
the least capital intensive service
among three service
The Army predominant budget is
due to its overwhelming
numerical superiority.
Accounting for 86% of total
uniformed personnel (of 1.4
million as of 2017) the bulk of its
budget is spent on pay and
allowance

INTRODUCTION
The union minister of railways, coal, finance
and Corporate affairs PIYUSH GOYAL departs
to Rashtrapati Bhavan and parliament house,
along with the minister of state for finance
and shipping

CONCLUSION
Finally..,
Financial Minister piyush goyal said that the
interim budget 2019 presents a Roadmap for
Making India world bader
Piyush goyal mentioned that the role
objective of the tax sops and financial
assistance announced by Narendra modi
Government is to make the live of the
common man and farmer much better.