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Budget 2019: Opposition shouldn't shed crocodile tears, says Arun Jaitley

PM Modi termed the Budget pro-poor, farmers and middle class, Congress said it was a bribe for votes. Catch Budget 2019 LIVE updates

Fiscal Deficit  |  Gdp Growth  |  Interim Budget 2019

BS Web Team  | New Delhi 


Budget 2019 LIVE updates: Prime Minister Narendra Modi made a populist push in his final budget before elections, cutting taxes for middle-class voters and giving cash handouts to farmers.
The government will allocate  Rs 75,000 crore a year for the cash plan for about 120 million farmers and give taxpayer Rs 185 billion of relief in the year to March 2020, Finance Minister Piyush Goyal said in his budget speech on Friday.

These were among a slew of measures he announced, mainly to benefit the middle class, address the agrarian distress, and bolster industry. Other key measures announced by the FM were an annual benefit transfer of Rs 6,000 to each marginal farmer — with a landholding of less than 2 hectares. In another important announcement, the government announced a mega pension scheme, PM Shram Yogi Mandhan, for people in the unorganised sector. Under this scheme, the government to provide a pension of Rs 3,000 a month to people in the unorganised sector after they turn 60 years old.

Top 10 takeaways of Budget 2019

FY19 target missed
fy19 seen at 3.4%
CAD seen at 2.5% of GDP
Direct transfer scheme for small farmers
Govt to transfer Rs 6,000 per year to farmers' accounts
Income support scheme to cost Rs 75,000 crore per year
12 crore farmer families to benefit
Rs 20,000 crore for farmer support this year itself
Rs 60,000 crore allocated for MNREGA in FY20
Income tax exemption limit doubled to Rs 5 lakh


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