Piyush Goyal Presented The Union Budget 2019 In Parliament | Highlights

Piyush Goyal Presented The Union Budget 2019 In Parliament | Highlights

Piyush Goyal Presenting The Union Budget 2019 In Parliament 

New Delhi: Union minister Piyush Goyal presented the Union Budget 2019 in parliament in the absence of Finance Minister, Arun Jaitley, who is reported to be in the US for medical treatment. Before the upcoming General Elections, this is the NDA government's last Interim Budget. The Centre has focussed the budget on immediate relief such as easing income tax rules, favourable loan terms for small businesses, farm loan waiver and even direct cash transfers to farmers who are under debt. A new announcement was made by the government saying that it will send Rs. 6,000 to small farmers directly into their bank accounts in a scheme that will be funded 100 per cent by the centre. The programme will cost Rs. 75,000 crore. The Railway Budget for 2019 will also be presented today.

Here's the highlights:

Piyush Goyal On Inflation: Unlike the last government, our government broke the back of back-breaking inflation. Inflation is a hidden tax on the poor. Last five years has seen India being recognised as a bright spot in global economy.

"Have brought fiscal deficit for 2018-19 to 3.4 per cent of GDP, current account deficit for 2018-19 seen at 2.5 per cent of GDP," Piyush Goyal said.

Union Budget 2019, Piyush Goyal On RBI: "We told RBI to evaluate all banks and out their actual state in front of the nation. Because of our efforts, restrictions have been lifted on three banks. We ran a corruption-free government," Piyush Goyal said.

"The first right on the nation's resources goes to the poor," Piyush Goyal said. "Rs. 60,000 crore was allocated for the MNREGA, and if needed more funds will be given."

"In 2014, 2.5 crore families were without electricity, living in the 18th century. We have brought electricity to all villages," Piyush Goyal said. "We have also brought the world's largest medical insurance programme, Ayushman Bharat. So far 10 lakh people have got help."

The 22nd AIIMS will be set up in Haryana, the state where my family comes from. Our win there yesterday shows how a good government is run."

Union Budget 2019, Rs. 6,000 For Small Farmers Directly Into Their Accounts: "The government has made a historic plan called the PM Kishan programme. Those small farmers who have less than two hectares will get a support of Rs. 6,000," Piyush Goyal. "It will be transferred directly to the bank accounts of farmers in three instalments of Rs. 2,000."

 

 

 

Piyush Goyal Presented The Union Budget 2019 In Parliament | Highlights

"About 12 crore farmer families will benefit from the programme; it will be implemented from December 2018 itself. It will cost the government Rs. 75,000 crore annually and the scheme will be 100 per cent funded by the government," Piyush Goyal said.

Union Budget 2019, Programme For Cow Protection: Radhtriya Kamdhenu Aayog to be set up for cows. "The government will never step back from protection of the gau mata," Piyush Goyal said. A 2 per cent interest subvention for animal husbandry, fisheries and farmers have been announced.

 

Piyush Goyal Presented The Union Budget 2019 In Parliament | Highlights

Union Budget 2019, Employment: "EPFO shows two crore accounts in two years. This shows formalisation of the economy. When there is such a high growth, jobs are created," Piyush Goyal said. Gratuity limit has been increased from Rs 10 lakh to Rs 30 lakh. Pension scheme for organised sector workers with monthly income up to Rs 15,000 will be given. Assured monthly pension of Rs 3,000 after they retire on reaching 60," he said.

Union Budget 2019, Free Gas Connection For The Poor: "To ensure cleaner fuel and health assurance, we embarked on PM Ujjwala Yojana, a programme to give eight crore free LPG connections to rural households, six crore connections given already," Piyish Goyal said.

"75 per cent of women beneficiaries under PM Mudra Yojana, 26 weeks of maternity leave and Pradhan Mantri Matritva Yojana, are all empowering women," Piyush Goyal said.

Union Budget 2019, Defence Budget: "For the first time, the defence Budget has been raised to over Rs 3 lakh crore," Piyush Goyal said. "Our soldiers who protect our borders are the pride and honour of the nation. In our election manifesto we promised one rank, one pension. We have resolved this and disbursed over Rs 35,000 crore in the last few years for our jawans."

Union Budget 2019, Roads, Transport And Infrastructure: "India is the fastest highway developer in the whole world, 27 km of highways are built each day. Projects stuck for decades have been completed. Sagar Mala will help faster handling of import and export cars," Piyush Goyal said.

"India now has over 100 operational airports. And when there is such progress, it is only natural that jobs are also created. Indian Railways has experienced the safest years in its history. All unmanned level crossings are completely eliminated on broad gauge networks."

 

Piyush Goyal Presented The Union Budget 2019 In Parliament | Highlights

Union Budget 2019, Allocation For Northeast: "The government has proposed to increase allocation for the northeast region to Rs 58,166 crore this year. It will be a 21 per cent rise over the previous year," Piyush Goyal said.

Union Budget 2019, Tax Rates: "Within the next two years, assessment of all tax returns should be done electronically without any personal interface," Piyish Goyal said. "Direct tax collections up from 6.38 lakh crore in 2013-14 to almost 12 lakh crore; tax base up from 3.79 crore to 6.85 crore. All income tax returns to be processed within 24 hours."
 

Union Budget 2019, Water Resources: "Safe drinking water to all Indians, sustaining and nourishing life, using micro-irrigation techniques are our government's priorities; a long coastline can be pivotal for the economy, using strength of blue economy and Sagar Mala," Piyush Goyal said.

Union Budget 2019, Fiscal Deficit: The fiscal deficit in 2018-19 would be 3.4 per cent of gross domestic product (GDP), slightly higher than the targeted 3.3 per cent, Piyush Goyal said. The deficit was widely expected to be higher than targeted due to a combination of revenue shortfalls and increased spending ahead of the Lok Sabha election.

"India is solidly back on track and marching towards growth and prosperity," Mr Goyal said as Prime Minister Narendra Modi and BJP lawmakers thumped their desks in appreciation.

Budget 2019, No Income Tax On Annual Income Up To Rs 5 Lakh: "Individual taxpayers with annual income up to Rs 5 lakh will get full tax rebate. Individuals with gross income up to Rs 6.5 lakh will not need to pay any tax if they make investments in provident funds and prescribed equities. Around three crore middle class taxpayers will get tax exemption due to this measure," Piyush Goyal said.