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Budget 2019
February 3 , 2019
2039 days
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- The Union Finance Minister Piyush Goyal presented an Interim Budget for 2019 in Parliament on 2019 February 01.
- An Interim Budget usually doesn't list out new schemes or doesn't unveil any policy measures.
- The government will present the vote on account for the next four-to-five months.
- A full-fledged Budget will be presented after the House reassembles after the general election.
Some important Highlights of the Budget
- No income tax for earnings up to Rs 5 lakh.
- Target of 3% of fiscal deficit to be achieved by 2020-21.
- Decision taken to increase MSP (minimum support price) by 1.5 times the production cost for all 22 crops.
- 12 crore small and marginal farmers to be provided with assured yearly income of Rs. 6000 per annum under Pm-Kisan Samman Nidhi Yojana.
- Mega pension scheme for workers in the unorganised sector with an income of less than Rs 15,000. They will be able to earn Rs 3000 after the age of 60. The scheme will be called Pradhan Mantri Shramyogi Maan Dhan Yojana.
- 25 per cent of sourcing for government projects will be from the MSMEs, of which three per cent will be from women entrepreneurs.
- A new committee under NITI Ayog to identify all the remaining De-notified nomadic and semi-Nomadic tribes.
- National Artificial Intelligence portal to be developed soon.
- One lakh digital village planned in the next five years.
- Within the next 2 years, all verification of tax returns to be done electronically without any interface of officials with the taxpayer.
- All income tax returns to be processed within 24 hours and refunds to be issued simultaneously
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