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Top 20 highlights of Budget 2019

ANI  |  Politics 

Following are the highlights of the budget

1. Full Tax rebate upto 5 lakh annual income after all deductions.

2. Tax-free Gratuity limit increased to 20 Lakhs from 10 Lakhs

3. Minimum 14 per cent revenue of GST will be given to states by the Central Government.

4. Exemption of tax on tax on second self-occupied house

5. Rs 60,000 crore allotted for MANREGA

6. Rs 1.7 Lakh crore to be given to ensure food for all

7. Rs. 750 crore kept for Gokul Mission for cows

8. 22nd AIIMS to be set up in Haryana

9. 25% additional seats in educational institutions to meet the 10% reservation for the poor

10. The Government will make 1 lakh villages into Digital Villages over the next five years

11. 26 weeks of Maternity Leaves approved for women

12. Custom duty abolished from 36 Capital Goods

13. Exemptions from GST for small businesses doubled from Rs. 20 lakh to Rs. 40 lakh

14. 12 crore small and marginal farmers to be provided with an assured yearly income of Rs. 6000 per annum under PM-KISAN

15. Rs 3000 per month after 60 years of age with an affordable contribution of only Rs 100/55 per month

16. Indian filmmakers to get access to single window clearance as well for ease of shooting films

17. A new committee under NITI Aayog to identify all the remaining De-notified nomadic and semi-nomadic tribes.

18. Defence budget to cross Rs 3,00,000 crore for the first time ever

19. New Artificial Intelligence portal to support Program on Artificial Intelligence

20. Rashtriya Kamdhenu Ayog to be set up for sustainable genetic up-gradation of the Cow resources

21. 2 per cent interest subvention to Farmers for Animal husbandry and Fisheries activities; additional 3 per cent in case of timely repayment.

22. 2 per cent interest subvention on an incremental loan of Rs 1 crore for GST registered SMEs.

23. TDS threshold to be raised from Rs. 10,000 to Rs. 40,000 on interest earned on bank/ post office deposits

24. 2% interest subvention on an incremental loan of Rs 1 crore for GST registered SMEs

25. Technology-intensive project approved to improve assessee friendliness -In two years, returns to be processed in 24 hours and refunds issued simultaneously

26. Standard Deduction to be raised to Rs. 50,000 from Rs. 40,000

27. TDS threshold for deduction of tax on rent to be increased from Rs. 1,80,000 to Rs. 2,40,000

28. Fiscal deficit pegged at 3.4% of GDP for 2019-20

29. New separate Department of Fisheries for the welfare of 1.5 crore fishermen


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, February 01 2019. 16:46 IST