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BUDGET 2019 Impact

ECONOMY

  • Highlights: Modest 6.35% hike in defence budget, govt talks up OROP, writes Ajai Shukla
    Including money allocated to defence pensions and the defence ministry, the defence allocation for 2019-20 rose to Rs 4.31 trillion, just 6.35 per cent more than the revised estimates for 2018-19. This will be insufficient to cover even cost inflation and foreign exchange depreciation during the year. The defence allocation for the coming year will account for 15.5 per cent of the central government’s expenditure, and 2.05 per cent of the estimated Gross Domestic Product (GDP). This is significantly lower than this year’s revised estimates of 16.5 per cent of the government’s expenditure and 2.15 per cent of the GDP.
  • Highlights: Interim Budget 2019: Pausing to pump-prime, says CRISIL's Dharmakirti Joshi
    The interim Budget was framed under the backdrop of farm distress and a slowing global economy with risks tilted to the downside. India’s growth in fiscal 2020 will be driven largely by exogenous or luck factors and, to some extent, by budgetary initiatives.   Two of these are the price of crude oil and monsoon. Brent crude at $60-65 per barrel and another spell of normal rains, along with budgetary support, can help lift India’s gross domestic product (GDP) growth rate to 7.3 per cent in fiscal 2020.
  • Highlights: Interim Budget 2019: Pausing to pump-prime, says CRISIL's Dharmakirti Joshi
    The interim Budget was framed under the backdrop of farm distress and a slowing global economy with risks tilted to the downside. India’s growth in fiscal 2020 will be driven largely by exogenous or luck factors and, to some extent, by budgetary initiatives.   Two of these are the price of crude oil and monsoon. Brent crude at $60-65 per barrel and another spell of normal rains, along with budgetary support, can help lift India’s gross domestic product (GDP) growth rate to 7.3 per cent in fiscal 2020.   The interim Budget anyway had limited ability to push growth, given the Fiscal Responsibility and Budget Management Act (FRBM) constraints.
  • Highlights: How far does the budget go in addressing issues facing India's farm sector? Watch this video to know more:
  • Highlights: Govt allocates Rs 3,900 cr for SPV to service Air India's debt
    The government will provide a total of Rs 3,900 crore for servicing Air India's loans transferred to a special purpose vehicle, according to Budget documents.   The Air India Asset Holding Ltd, a special purpose vehicle, has been set up as part of financial restructuring of the debt-laden national carrier.   According to the documents presented in the interim Budget for 2019-20, the government has decided to allocate Rs 1,300 crore for the special purpose vehicle this fiscal.   Besides, Rs 2,600 crore would be provided in the next financial year.   Put together, it would be Rs 3,900 crore allocation for the special purpose vehicle.
  • Highlights: Piyush Goyal: If the tax collection is so good, it shows that GST is a successful measure.
    Piyush Goyal: GST has prepared the nation for rapid development. It is not a poor implementation, there is no country which dared to make such a large scale change.
  • Highlights: This Interim Budget will take India forward into the future
  • Highlights: TDS limit hiked from Rs 10,000 to Rs 40,000 on post-office, bank savings
    Finance Minister Piyush Goyal raises TDS limit on post-office and bank savings from Rs 10,000 to Rs 40,000 
  • Highlights: Benefit for real estate
    No TDS on house rent up to Rs 2.4 lakh per year, announced FM Piyush Goyal
  • Highlights: Full tax exemption for those earning up to Rs 5 lakh: Piyush Goyal

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GOVERNMENT

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INFRASTRUCTURE

  • Highlights: Interim Budget 2019: Pausing to pump-prime, says CRISIL's Dharmakirti Joshi
    The interim Budget was framed under the backdrop of farm distress and a slowing global economy with risks tilted to the downside. India’s growth in fiscal 2020 will be driven largely by exogenous or luck factors and, to some extent, by budgetary initiatives.   Two of these are the price of crude oil and monsoon. Brent crude at $60-65 per barrel and another spell of normal rains, along with budgetary support, can help lift India’s gross domestic product (GDP) growth rate to 7.3 per cent in fiscal 2020.
  • Highlights: Interim Budget 2019: Pausing to pump-prime, says CRISIL's Dharmakirti Joshi
    The interim Budget was framed under the backdrop of farm distress and a slowing global economy with risks tilted to the downside. India’s growth in fiscal 2020 will be driven largely by exogenous or luck factors and, to some extent, by budgetary initiatives.   Two of these are the price of crude oil and monsoon. Brent crude at $60-65 per barrel and another spell of normal rains, along with budgetary support, can help lift India’s gross domestic product (GDP) growth rate to 7.3 per cent in fiscal 2020.   The interim Budget anyway had limited ability to push growth, given the Fiscal Responsibility and Budget Management Act (FRBM) constraints.
  • Highlights: This Interim Budget will take India forward into the future
  • Highlights: Capex for railways increased to Rs 1.48 trn in Interim Budget 19
    An allocation of Rs 1.59 trn for capital expenditure in railways, compared to the Rs 1.48 trn in Budget 2018-19
  • Highlights: State of India's infrastructure sector
    Infrastructure Development   1. More than 100 operational airports 2. Domestic passenger traffic doubled in last 5 years 3. Today, India is the fastest highway developer in the world   We have gone beyond incremental growth,to attain trans-formative achievements, says Piyush Goyal
  • Highlights: Indian Customs is implementing full digitization of exim transactions and leveraging RFID for logistics: Piyush Goyal
  • Highlights: Piyush Goyal's Budget 2019 speech:   1. India has achieved over 98% rural sanitation coverage   2. 5.45 lakh villages declared ODF    3. Swachh Bharat now a national movement
  • Highlights: India is the fastest highway developer in the whole world: Piyush Goyal
    India is the fastest highway developer in the whole world. 27 km of highways are built each day, projects stuck for decades have been completed; Sagarmala will help faster handling of import and export cars, says FM Piyush Goyal
  • Highlights: Gone beyond incremental growth in infra, to attain transformative achievements: FM Piyush Goyal
  • Highlights: Rs 64,587 crore Rail outlay for FY20: FM Piyush Goyal
    FM Piyush Goyal announces Rs 64,587-crore railway outlay for FY20

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INDUSTRY

  • Highlights: Interim Budget 2019: Pausing to pump-prime, says CRISIL's Dharmakirti Joshi
    The interim Budget was framed under the backdrop of farm distress and a slowing global economy with risks tilted to the downside. India’s growth in fiscal 2020 will be driven largely by exogenous or luck factors and, to some extent, by budgetary initiatives.   Two of these are the price of crude oil and monsoon. Brent crude at $60-65 per barrel and another spell of normal rains, along with budgetary support, can help lift India’s gross domestic product (GDP) growth rate to 7.3 per cent in fiscal 2020.
  • Highlights: Interim Budget 2019: Pausing to pump-prime, says CRISIL's Dharmakirti Joshi
    The interim Budget was framed under the backdrop of farm distress and a slowing global economy with risks tilted to the downside. India’s growth in fiscal 2020 will be driven largely by exogenous or luck factors and, to some extent, by budgetary initiatives.   Two of these are the price of crude oil and monsoon. Brent crude at $60-65 per barrel and another spell of normal rains, along with budgetary support, can help lift India’s gross domestic product (GDP) growth rate to 7.3 per cent in fiscal 2020.   The interim Budget anyway had limited ability to push growth, given the Fiscal Responsibility and Budget Management Act (FRBM) constraints.
  • Highlights: Govt allocates Rs 3,900 cr for SPV to service Air India's debt
    The government will provide a total of Rs 3,900 crore for servicing Air India's loans transferred to a special purpose vehicle, according to Budget documents.   The Air India Asset Holding Ltd, a special purpose vehicle, has been set up as part of financial restructuring of the debt-laden national carrier.   According to the documents presented in the interim Budget for 2019-20, the government has decided to allocate Rs 1,300 crore for the special purpose vehicle this fiscal.   Besides, Rs 2,600 crore would be provided in the next financial year.   Put together, it would be Rs 3,900 crore allocation for the special purpose vehicle.
  • Highlights: This Interim Budget will take India forward into the future
  • Highlights: GST registered MSME units to get 2% interest subvention on loan of Rs 1 crore: Piyush Goyal
  • Highlights: FM Piyush Goyal on black money eliminiation
    Piyush Goyal: Committed to eliminating the scourge of black money; anti-black money measures taken have brought an undisclosed income of about Rs 1.30 trillion to the fore; 3.38 lakh shell companies were deregistered.
  • Highlights: Encouraging GST collections in January: Piyush Goyal
    GST collections in January 2019 has crossed Rs 1 trillion: Piyush Goyal
  • Highlights: GST now tuned to benefit the middle class: Goyal
    Most items of daily use are now in the 0-5% slab making GST beneficial for the middle class.
  • Highlights: GST has been continuously reduced, resulting in relief of Rs 80,000 crore to consumers; most items of daily use for poor and middle class are now in the 0%-5% tax bracket: Piyush Goyal
  • Highlights: Within almost two years, almost all assessment and verification of I-T returns will be done electronically by an anonymized tax system without any intervention by tax officials: Piyush Goyal

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INDIVIDUAL

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RURAL DEVELOPMENT

  • Highlights: Interim Budget 2019: Pausing to pump-prime, says CRISIL's Dharmakirti Joshi
    The interim Budget was framed under the backdrop of farm distress and a slowing global economy with risks tilted to the downside. India’s growth in fiscal 2020 will be driven largely by exogenous or luck factors and, to some extent, by budgetary initiatives.   Two of these are the price of crude oil and monsoon. Brent crude at $60-65 per barrel and another spell of normal rains, along with budgetary support, can help lift India’s gross domestic product (GDP) growth rate to 7.3 per cent in fiscal 2020.
  • Highlights: Interim Budget 2019: Pausing to pump-prime, says CRISIL's Dharmakirti Joshi
    The interim Budget was framed under the backdrop of farm distress and a slowing global economy with risks tilted to the downside. India’s growth in fiscal 2020 will be driven largely by exogenous or luck factors and, to some extent, by budgetary initiatives.   Two of these are the price of crude oil and monsoon. Brent crude at $60-65 per barrel and another spell of normal rains, along with budgetary support, can help lift India’s gross domestic product (GDP) growth rate to 7.3 per cent in fiscal 2020.   The interim Budget anyway had limited ability to push growth, given the Fiscal Responsibility and Budget Management Act (FRBM) constraints.
  • Highlights: This Interim Budget will take India forward into the future
  • Highlights: Piyush Goyal's Budget 2019 speech:   1. India has achieved over 98% rural sanitation coverage   2. 5.45 lakh villages declared ODF    3. Swachh Bharat now a national movement
  • Highlights: Farmers severely affected by natural calamities will get 2% interest subvention and additional 3% interest subvention upon timely repayment: Piyush Goyal
    Piyush Goyal: Instead of rescheduling of crop loans, the farmers severely affected by natural calamities will get 2% interest subvention and additional 3% interest subvention upon timely repayment.    
  • Highlights: Pradhan Mantri Kisan Samman Nidhi to be fully funded by govt
    The Pradhan Mantri Kisan Samman Nidhi will be fully funded by the govt, announces Finance Minister Piyush Goyal
  • Highlights:
  • Highlights: Committee under NITI Aayog to be set up to identify and denotify nomadic and semi-nomadic communities; Welfare Development Board to be set up under Ministry of Social Justice & Empowerment for welfare of these hard-to-reach communities and for tailored strategic interventions : Piyush Goyal
  • Highlights: Pradhan Mantri Kisan Samman Nidhi payments
    Pradhan Mantri Kisan Samman Nidhi payments will be made in three equal instalments of Rs 2,000 each, says FM Piyush Goyal
  • Highlights: Pradhan Mantri Kisan Samman Nidhi effective from Dec 2018
    Pradhan Mantri Kisan Samman Nidhi distribution to be with effect from December 2018

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DEFENCE

  • Highlights: Modest 6.35% hike in defence budget, govt talks up OROP, writes Ajai Shukla
    Including money allocated to defence pensions and the defence ministry, the defence allocation for 2019-20 rose to Rs 4.31 trillion, just 6.35 per cent more than the revised estimates for 2018-19. This will be insufficient to cover even cost inflation and foreign exchange depreciation during the year. The defence allocation for the coming year will account for 15.5 per cent of the central government’s expenditure, and 2.05 per cent of the estimated Gross Domestic Product (GDP). This is significantly lower than this year’s revised estimates of 16.5 per cent of the government’s expenditure and 2.15 per cent of the GDP.
  • Highlights: Interim Budget 2019: Pausing to pump-prime, says CRISIL's Dharmakirti Joshi
    The interim Budget was framed under the backdrop of farm distress and a slowing global economy with risks tilted to the downside. India’s growth in fiscal 2020 will be driven largely by exogenous or luck factors and, to some extent, by budgetary initiatives.   Two of these are the price of crude oil and monsoon. Brent crude at $60-65 per barrel and another spell of normal rains, along with budgetary support, can help lift India’s gross domestic product (GDP) growth rate to 7.3 per cent in fiscal 2020.
  • Highlights: Interim Budget 2019: Pausing to pump-prime, says CRISIL's Dharmakirti Joshi
    The interim Budget was framed under the backdrop of farm distress and a slowing global economy with risks tilted to the downside. India’s growth in fiscal 2020 will be driven largely by exogenous or luck factors and, to some extent, by budgetary initiatives.   Two of these are the price of crude oil and monsoon. Brent crude at $60-65 per barrel and another spell of normal rains, along with budgetary support, can help lift India’s gross domestic product (GDP) growth rate to 7.3 per cent in fiscal 2020.   The interim Budget anyway had limited ability to push growth, given the Fiscal Responsibility and Budget Management Act (FRBM) constraints.
  • Highlights: This Interim Budget will take India forward into the future
  • Highlights: OROP: We have implemented a scheme pending for 40 years, says Goyal
    OROP, pending for last 40 years, has been implemented by us, says Goyal.
  • Highlights: We've disbursed Rs 35,000 crore for our soldiers under OROP, says Goyal
    Already disbursed Rs 35,000 crore for our soldiers under OROP, substantial hike in military service pay has been announced: Piyush Goyal
  • Highlights: 9 nine priority areas identified; National Artificial Intelligence Portal to be developed soon: Piyush Goyal
  • Highlights: Defence budget exceeds Rs 3 trillion for first time ever: FM Piyush Goyal
  • Highlights: We've built a country where we can be free from communalism, casteism, terrorism, says Piyush Goyal.
  • Highlights: Prime Minister Narendra Modi’s finance ministry earlier hinted that the government would not hesitate to announce a few major reforms in its interim budget. However, it would significantly derail its claim of being fiscally prudent, according to several sectoral experts.

[more]

PSUs

  • Highlights: Interim Budget 2019: Pausing to pump-prime, says CRISIL's Dharmakirti Joshi
    The interim Budget was framed under the backdrop of farm distress and a slowing global economy with risks tilted to the downside. India’s growth in fiscal 2020 will be driven largely by exogenous or luck factors and, to some extent, by budgetary initiatives.   Two of these are the price of crude oil and monsoon. Brent crude at $60-65 per barrel and another spell of normal rains, along with budgetary support, can help lift India’s gross domestic product (GDP) growth rate to 7.3 per cent in fiscal 2020.
  • Highlights: Interim Budget 2019: Pausing to pump-prime, says CRISIL's Dharmakirti Joshi
    The interim Budget was framed under the backdrop of farm distress and a slowing global economy with risks tilted to the downside. India’s growth in fiscal 2020 will be driven largely by exogenous or luck factors and, to some extent, by budgetary initiatives.   Two of these are the price of crude oil and monsoon. Brent crude at $60-65 per barrel and another spell of normal rains, along with budgetary support, can help lift India’s gross domestic product (GDP) growth rate to 7.3 per cent in fiscal 2020.   The interim Budget anyway had limited ability to push growth, given the Fiscal Responsibility and Budget Management Act (FRBM) constraints.
  • Highlights: Govt allocates Rs 3,900 cr for SPV to service Air India's debt
    The government will provide a total of Rs 3,900 crore for servicing Air India's loans transferred to a special purpose vehicle, according to Budget documents.   The Air India Asset Holding Ltd, a special purpose vehicle, has been set up as part of financial restructuring of the debt-laden national carrier.   According to the documents presented in the interim Budget for 2019-20, the government has decided to allocate Rs 1,300 crore for the special purpose vehicle this fiscal.   Besides, Rs 2,600 crore would be provided in the next financial year.   Put together, it would be Rs 3,900 crore allocation for the special purpose vehicle.
  • Highlights: This Interim Budget will take India forward into the future
  • Highlights: We've built a country where we can be free from communalism, casteism, terrorism, says Piyush Goyal.
  • Highlights: Prime Minister Narendra Modi’s finance ministry earlier hinted that the government would not hesitate to announce a few major reforms in its interim budget. However, it would significantly derail its claim of being fiscally prudent, according to several sectoral experts.
  • Highlights: The main focus of Interim Budget 2019 is expected to be on the rural sector and the urban middle-class
    The main focus of Interim Budget 2019, the last for Narendra Modi-led NDA government before Lok Sabha elections 2019, is expected to be on the rural sector and the urban middle-class.

[more]

FINANCE

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AUTO

  • Highlights: Interim Budget 2019: Pausing to pump-prime, says CRISIL's Dharmakirti Joshi
    The interim Budget was framed under the backdrop of farm distress and a slowing global economy with risks tilted to the downside. India’s growth in fiscal 2020 will be driven largely by exogenous or luck factors and, to some extent, by budgetary initiatives.   Two of these are the price of crude oil and monsoon. Brent crude at $60-65 per barrel and another spell of normal rains, along with budgetary support, can help lift India’s gross domestic product (GDP) growth rate to 7.3 per cent in fiscal 2020.
  • Highlights: Interim Budget 2019: Pausing to pump-prime, says CRISIL's Dharmakirti Joshi
    The interim Budget was framed under the backdrop of farm distress and a slowing global economy with risks tilted to the downside. India’s growth in fiscal 2020 will be driven largely by exogenous or luck factors and, to some extent, by budgetary initiatives.   Two of these are the price of crude oil and monsoon. Brent crude at $60-65 per barrel and another spell of normal rains, along with budgetary support, can help lift India’s gross domestic product (GDP) growth rate to 7.3 per cent in fiscal 2020.   The interim Budget anyway had limited ability to push growth, given the Fiscal Responsibility and Budget Management Act (FRBM) constraints.
  • Highlights: This Interim Budget will take India forward into the future
  • Highlights: We've built a country where we can be free from communalism, casteism, terrorism, says Piyush Goyal.
  • Highlights: Prime Minister Narendra Modi’s finance ministry earlier hinted that the government would not hesitate to announce a few major reforms in its interim budget. However, it would significantly derail its claim of being fiscally prudent, according to several sectoral experts.
  • Highlights: The main focus of Interim Budget 2019 is expected to be on the rural sector and the urban middle-class
    The main focus of Interim Budget 2019, the last for Narendra Modi-led NDA government before Lok Sabha elections 2019, is expected to be on the rural sector and the urban middle-class.

[more]

ENERGY

  • Highlights: Interim Budget 2019: Pausing to pump-prime, says CRISIL's Dharmakirti Joshi
    The interim Budget was framed under the backdrop of farm distress and a slowing global economy with risks tilted to the downside. India’s growth in fiscal 2020 will be driven largely by exogenous or luck factors and, to some extent, by budgetary initiatives.   Two of these are the price of crude oil and monsoon. Brent crude at $60-65 per barrel and another spell of normal rains, along with budgetary support, can help lift India’s gross domestic product (GDP) growth rate to 7.3 per cent in fiscal 2020.
  • Highlights: Interim Budget 2019: Pausing to pump-prime, says CRISIL's Dharmakirti Joshi
    The interim Budget was framed under the backdrop of farm distress and a slowing global economy with risks tilted to the downside. India’s growth in fiscal 2020 will be driven largely by exogenous or luck factors and, to some extent, by budgetary initiatives.   Two of these are the price of crude oil and monsoon. Brent crude at $60-65 per barrel and another spell of normal rains, along with budgetary support, can help lift India’s gross domestic product (GDP) growth rate to 7.3 per cent in fiscal 2020.   The interim Budget anyway had limited ability to push growth, given the Fiscal Responsibility and Budget Management Act (FRBM) constraints.
  • Highlights: This Interim Budget will take India forward into the future
  • Highlights: Budget 2019: Urgent action needed to increase hydrocarbon production to decrease imports; change in bidding procedure and exploration procedure being implemented: Piyush Goyal
  • Highlights: Our commitment to promote renewable energy is reflected in our initiative to set up International Solar Alliance; installed solar generation capacity has increased 10 times in last five years; lakhs of new jobs being created by the sector: Piyush Goyal
  • Highlights: We've built a country where we can be free from communalism, casteism, terrorism, says Piyush Goyal.
  • Highlights: Prime Minister Narendra Modi’s finance ministry earlier hinted that the government would not hesitate to announce a few major reforms in its interim budget. However, it would significantly derail its claim of being fiscally prudent, according to several sectoral experts.
  • Highlights: The main focus of Interim Budget 2019 is expected to be on the rural sector and the urban middle-class
    The main focus of Interim Budget 2019, the last for Narendra Modi-led NDA government before Lok Sabha elections 2019, is expected to be on the rural sector and the urban middle-class.

[more]

MARKET

  • Highlights: Interim Budget 2019: Pausing to pump-prime, says CRISIL's Dharmakirti Joshi
    The interim Budget was framed under the backdrop of farm distress and a slowing global economy with risks tilted to the downside. India’s growth in fiscal 2020 will be driven largely by exogenous or luck factors and, to some extent, by budgetary initiatives.   Two of these are the price of crude oil and monsoon. Brent crude at $60-65 per barrel and another spell of normal rains, along with budgetary support, can help lift India’s gross domestic product (GDP) growth rate to 7.3 per cent in fiscal 2020.
  • Highlights: Interim Budget 2019: Pausing to pump-prime, says CRISIL's Dharmakirti Joshi
    The interim Budget was framed under the backdrop of farm distress and a slowing global economy with risks tilted to the downside. India’s growth in fiscal 2020 will be driven largely by exogenous or luck factors and, to some extent, by budgetary initiatives.   Two of these are the price of crude oil and monsoon. Brent crude at $60-65 per barrel and another spell of normal rains, along with budgetary support, can help lift India’s gross domestic product (GDP) growth rate to 7.3 per cent in fiscal 2020.   The interim Budget anyway had limited ability to push growth, given the Fiscal Responsibility and Budget Management Act (FRBM) constraints.
  • Highlights: 'Expect a market sell-off if FPIs remain unhappy about fiscal deficit'
    The Interim Budget appears to be on more or less expected lines. There’s a grant to farmers with holdings of less than 2 hectares. Moreover, that is with retrospective effect so, it will be disbursed from this quarter itself, rather than from April onwards. That might mean some resurgence in demand in rural and semi-urban India, with attendant rise in toplines for corporates with rural exposure.   There’s a tax rebate for individuals with up to Rs 500,000 in taxable income. If such an individual uses instruments permissible under Sec 80C of the IT Act, upto Rs 650,000 of income could be subject to rebate. But this will not affect the tax incidence for anybody who earns even one rupee more than the ceiling. This could benefit up to 30 million tax payers, according to first estimates.
  • Highlights: This Interim Budget will take India forward into the future
  • Highlights: Capex for railways increased to Rs 1.48 trn in Interim Budget 19
    An allocation of Rs 1.59 trn for capital expenditure in railways, compared to the Rs 1.48 trn in Budget 2018-19
  • Highlights: We've built a country where we can be free from communalism, casteism, terrorism, says Piyush Goyal.
  • Highlights: Sensex up by 151.44 points, currently at 36,408.13 ahead of Budget 2019 presentation.
    Sensex up by 151.44 points, currently at 36,408.13 ahead of Budget 2019 presentation.
  • Highlights: Prime Minister Narendra Modi’s finance ministry earlier hinted that the government would not hesitate to announce a few major reforms in its interim budget. However, it would significantly derail its claim of being fiscally prudent, according to several sectoral experts.
  • Highlights: The main focus of Interim Budget 2019 is expected to be on the rural sector and the urban middle-class
    The main focus of Interim Budget 2019, the last for Narendra Modi-led NDA government before Lok Sabha elections 2019, is expected to be on the rural sector and the urban middle-class.
  • Highlights: A recap of Budget 2018: Jaitley announced the levy of a LTCG of 10% on gains exceeding Rs 100,000 from sale of equity shares
    Arun Jaitley said LTCG from sale of equity shares and equity mutual fund schemes will now be taxed at 10%, if your total capital gains in a year cross Rs 1 lakh. Below Rs 1 lakh, gains won’t be taxed. Prior to that, there was no LTCG tax if you sell your shares or equity mutual fund units after holding them for a year.

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