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

PM Modi leaves for G7 Summit in Italy

In his first foreign visit after taking oath of office for the third time, prime minister Narendra Modi Thursday evening left for Italy to participate in the G7 Outreach Summit. “At the invitation of Prime Minister Giorgia Meloni, I am travelling to Apulia region in Italy to participat

Some market talk, some gossip – learnings over tea at RBI

A Fly on the RBI Wall: An Insider’s View of the Central Bank By Alpana Killawala Rupa Publications, 248 pages, Rs 595  

Coalition politics not expected to impact India’s foreign policy

Prime minister Narendra Modi has strived incessantly to bring laurels and much needed recognition for the nation since May 2014 when he was sworn in as the head of state. The poser which can be deliberated upon is this: What will be the consequential impact of the new era of coalition politics which confro

New govt`s first decision pushes for farmer welfare

The BJP-led NDA government has started its term with its first decision relating to farmer welfare. Narendra Modi took charge of office as prime minister of India for the third time on Monday, a day after he and his colleagues were sworn in by the president of India. In his fi

Narendra Modi takes oath for third term

Narendra Modi made history Sunday evening as he was sworn in by president Droupadi Murmu for a third successive term. Modi thus becomes the first prime minister since Jawaharlal Nehru to have comptered two full terms and beginning a third consecutive term. In the swearing-in c

Modi appointed PM for the third time

Narendra Modi was Friday appointed the prime minister for a historic third time, as president Droupadi Murmu invited him to form the next government. The swearing-in ceremony for the new council of ministers will take place on Sunday. “The President, having satisfied herself on the bas

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter