New Delhi : The Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman on Friday presented the Union Budget 2019-20 before the Parliament. The first budget of the second term of the Narendra Modi-led government extended an additional deduction to home-buyers in the affordable housing category.
The key highlights of Union Budget 2019 are as follows:
Fully automated GST Refund module shall be implemented; multiple tax ledgers to be replaced by one; invoice details to be captured in a central system
Additional income tax deduction of 1.5 lakh rupees on the interest paid on the loans taken to purchase electric vehicles
PAN and Aadhaar now interchangeable those who don’t have PAN to file returns can do it by simply quoting Aadhar number and use it wherever they require to use PAN.
A new series of coins of Re 1, ₹2, ₹5,₹10, ₹20
Women Self Help Group(SHG) Interest Subvention Programme to be expanded to all districts in India.
To popularise sports at all levels, National Sports Education Board for development of sportspersons to be set up under Khelo India.
Exclusive TV programme exclusively for startups to be started, channel will be designed and executed by startups themselves.
Issuing Aadhaar Card for Non Resident Indians (NRIs) with Indian passports after their arrival in India without waiting for the mandatory 180 days.
New national educational policy hopes to transform Indian education into one of the best in the world, with focus on bringing in foreign students.
₹50 lakh crores proposed for Railway infrastructure.
By 2022, the 75th year of Independence, every single rural family, except those who are unwilling to take the connection, will have electricity and clean cooking facility.
Stress on zero-budget farming, which is a form of gardening as a self-sustainable practice, with minimum external intervention.
50 lakh crores proposed for Railway infrastructure.
The pension benefit will be extended to 3 crore retail traders under PM Karam Yogi Maan Dhan Scheme. It requires only Aadhaar numbers and bank accounts.
₹1 crore worth of loans proposed to MSMEs. The Government will extend pension benefits to 3 crore retail traders and shopkeepers who have a revenue of less than ₹1.5 crore.
Investment by FIIs and FDIs in debt securities in infrastructure debt funds to be allowed. Minimum public shareholding in listed companies can be increased from 25% to 35%.