Niti Aayog vice-chairman Rajiv Kumar welcomes 2019-20 Budget

Niti Aayog vice-chairman Rajiv Kumar on Friday said he strongly welcomes the 2019 budget presented by the Finance Minister Nirmala Sitharaman on Friday.

"We've strongly welcomed it. Not only because some of our ideas and suggestions have been incorporated by Finance Minister, but also because it's a budget that focuses on sharpening growth, promoting private investments in the country", he said.

The Union Budget 2019-20 presented by Finance Minister Nirmala Sitharaman had major announcements across various sectors. Tax rate reduced to 25 per cent for companies with an annual turnover up to Rs 400 crore. Surcharge increased on individuals having taxable income from Rs 2 crores to Rs 5 crore and Rs 5 crore and above.Interchangeability of PAN and Aadhaar. Those who don't have PAN can file tax returns using Aadhaar, which can be used wherever PAN is required.

The government is also to reinitiate the process of strategic disinvestment of Air India and to offer more Central Public Sector Enterprises (CPSEs) for strategic participation by the private sector were some of the key decisions presented in the budget.