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RECIEPTS CLICK HERE
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BUDGET HILIGHTS
Finance Minister Piyush Goyal presented the Interim Budget for 2019 at the Parliament on 01-02-2019. 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 Elections.
Here are the highlights :
- No Income Tax for income up to ₹5 lakh
- Individuals with gross income of up to ₹6.5 lakh will not need to pay any tax if they make investments in provident funds and prescribed equities
- Standard tax deduction for salaried persons raised from ₹40,000 to ₹50,000
- TDS threshold on interest on bank and post office deposits raised from ₹10,000 to ₹40,000
- TDS threshold on rental income increased from ₹1.8 lakh to ₹2.4 lakh
- I-T processing of returns to be done in 24 hours
- Within next 2 years all verification of tax returns will be done electronically without any interface with the tax payer
- Package of ₹6000 per annum for farmers with less than 2 hectares of land. Scheme will be called Pradhan Mantri Kisan Samman Nidhi.
- Vande Bharat Express, an indigenously developed semi high speed train, to be launched
- One lakh digital villages planned in the next five years
- Fund allocation to Northeast region increased to ₹ 58,166 crore in this year, a 21% rise over last year for infrastructure development
- Anti-camcord regulations to be introduced in the Indian Cinematograph Act to prevent piracy and contact theft of Bollywood films.
- Single window clearance for Indian filmmakers will be introduced.
- 25 per cent of sourcing for government projects will be from MSME, of which three per cent will be from women entrepreneurs.
- National Artificial Intelligence portal to be developed soon
- The ESI cover limit has been increased to ₹ 21,000. Minimum pension was also increased to ₹ 1000.
- Mega pension scheme for workers from the organised sector with income of less than ₹15,000. They will be able to earn ₹ 3000 after the age of 60 years. The scheme will be called PM Shramyogi Maan Dhan Yojana.
- 2% interest subversion for farmers pursuing animal husbandry.
- All farmers affected by severe natural calamities will be given interest subversion for the entire period of three per cent of loans.
- The 22nd AIIMS will come up in Haryana
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