Finance Minister Piyush Goyal presents Budget 2019-20

New Delhi:  Union Finance Minister Piyush Goyal presented the Interim Budget for the financial year 2019-20 in Lok Sabha here on Friday.

Presenting the Budget, Goyal said the government is moving towards realising the dream of new India by 2022.

With a view to provide support to small and marginal farmers and improve their income a new scheme the Pradhan Mantri Kisan Samman Nidhi yojana has been introduced, the Finance Minister said adding that farmers with less than 2-hectare land will be given 6,000 rupees per year as direct transfer.

The scheme will benefit 12 crore farmers and will be implemented from this fiscal itself, he claimed.


*6,000 rupees yearly direct support to farmers through PM-KISAN Programme.

*3,000 rupees pension for unorganised sector workers earning upto 15,000 rupees through a mega Pension Scheme – Pradhan Mantri Shram- Yogi Maandhan.

*Present Income Tax rates to continue; Full tax rebate upto income of 5 lakh rupees for individual tax payers; Standard deduction raised to 50,000, a hike of 10,000 for salaried class.

*Direct tax system simplified; Returns to be processed in 24 hours with immediate refunds.

*90 percent GST payers can file quarterly returns; Small and Medium Enterprises to get two percent interest rebate on incremental loan of one crore rupees; A Group of Ministers to examine GST burden on home buyers.

*Customs to go for digitalization of export and import transactions.

*Allocations to Health care, MGNREGA, SC/ST welfare programmes, Pradhan Mantri Gram Sadak Yojana, Development of infrastructure in North-East hiked substantially.

*Electricity connection to all willing families by next month.

*Allocations to Defence budget crosses three lakh crore rupees for the first time.

*10 point vision for 2030 to realize India’s social economic potential; Steps to make India 10 trillion dollars economy in 13 years.

*Allocation for infrastructure development in the region hiked by 21 percent.

**One lakh more villages to get digital connectivity.

*The fiscal deficit pegged at 3.4 percent of GDP are the highlight of the Interim Budget for 2019-20.

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