Budget 2019 Highlights

Since Arun Jaitley is in the USA receiving medical treatment, interim Finance Minister – Piyush Goyal – presented the Union Budget 2019.

Read on for the Union Budget 2019 highlights:

1. The limit for Tax Rebate increased from INR 3,50,000 to INR 5,00,000 under Section 87A.
2. Income Tax slabs for FY 2019-2020 will be the same as earlier.
3. TDS limit on Post Office Savings and Bank Deposits is now INR 40,000 (the previous figure was INR 10,000).
4. INR 60,000 crores are allocated for the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA). This labour law guarantees the ‘right to work’.
5. More than INR 35,000 crores has been allocated under the ‘One Rank One Pension’ scheme for the country’s Defence Personnels.
6. Maternity leave extended to 26 weeks.
7. Under the Ujjwala Yojana scheme, over 6 crore free cooking gas connections have been provided (number to go to 8 crores)
8. INR 29,000 crores set aside for the Women and Child Development (WCD) Ministry.
9. Over 7,000 beneficiaries of PM Mudra Yojana are women. A total of 15.56 crore loans of ₹7.23 lakh crore have been disbursed under this scheme.
10. Around 12 crore small and marginal farmers will benefit from the Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) with income support of Rs 6000 annually.
11. Farmers pursuing animal husbandry and fisheries will get two percent interest subvention.

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