Interim Budget 2019 rides high on elections

Income transfer scheme for farmers to cost Rs 75,000 crore

GN Bureau | February 1, 2019


#finance minister   #Piyush Goyal   #budget 2019   #interim budget   #budget   #Narendra Modi  
Union minister for railways, coal, finance and corporate affairs, Piyush Goyal on way to present the Interim Budget 2019-20
Union minister for railways, coal, finance and corporate affairs, Piyush Goyal on way to present the Interim Budget 2019-20

The interim budget for 2019-20, presented by the interim finance minister Piyush Goyal, is predictably focused on the coming elections. From agriculture to defence, and pleasing the middle class, the budget aims to keep everyone happy. 

 
Here are some key highlights:
 
  • PM Kisaan Samman Nidhi package has been announced for farmers, under which Rs 75,000 crore has been allocated. The money will go directly to the farmers' account. Farmers owning land less than two hectares will receive Rs 6,000 per year as direct cash transfer. The first instalment will be disbursed before the elections.
  • Defence budget enhanced beyond Rs 3 lakh crore.
  • Cheer for the middle class: Full tax rebate for those with income upto Rs 5 lakh a year. Individuals with gross income up to 6.5 lakh rupees will not need to pay any tax if they make investments in provident funds and prescribed equities.
  • A pension scheme has been announced for the workers in the unorganised sector with a monthly income of up to Rs 15,000. An assured monthly pension of Rs 3,000 will be given after they retire at 60.
  • More than 8 crore free LPG connections to be given.
  • Increased allocation for Rashtriya Gokul Mission to 750 crore in the current year for protection of cows.
  • Direct tax collections from 6.38 lakh crore rupees in 2013-14 to almost 12 lakh crore rupees; tax base up from 3.79 crore to 6.85 crore

Comments

 

Other News

Cabinet approves museum at North-South Block complex

The Cabinet Committee on Economic Affairs, chaired by prime minister Narendra Modi, on Wednesday has approved the development of the Yuge Yugeen Bharat Museum (YYBM) at the North and South Block Complex, New Delhi, at an estimated total project cost of ₹3,230 crore, as appraised by the Public Investmen

Cabinet approves extension of Noida metro corridor

The Union Cabinet, chaired by prime minister Narendra Modi, has approved the extension of Aqua Line Metro Rail Corridor from Noida Sector-51 to Greater Noida Sector-04 of Noida Metro Rail Project with corridor for a length of 8.449 km with 5 elevated stations. On operationalization of this corridor, Noid

India reaffirms commitment to climate multilateralism

India has reaffirmed its commitment to climate multilateralism and the principles of Equity and Common But Differentiated Responsibilities and Respective Capabilities (CBDR-RC), calling for a fair, equitable and ambitious outcome at the 31st Conference of the Parties (COP31) to the United Nations Framewo

How the mind can help the body heal itself

Why do some people recover from illness against all odds? Can our beliefs, emotions and consciousness influence the body’s ability to heal? Drawing on over three decades of experience in medicine, research and medical innovation, internationally trained ophthalmologist and author Dr Dinesh Verma ex

1,364 anti-cancer formulations to cost less from today

The National Pharmaceutical Pricing Authority (NPPA), under the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, has capped trade margins on the Maximum Retail Price (MRP) of 137 anti-cancer drugs. This was based on the recommendations of an Expert Committee constitute

Who checks the books?

I read about the news about the Coimbatore library over coffee this morning. On the face of it, the headline was about a political ‘war’ between the DMK and TVK. But what stayed with me was something much more important than the blame game behind what had transpired. A writer walking through

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter