Union Minister Piyush Goyal presented the Interim Budget for 2019 in Parliament on Friday. It is a vote on account budget
- Taxpayers with annual income up to Rs 5 lakhto get a full tax rebate.
- Individuals with gross income up to Rs 6.5 lakh will not need to pay tax if they make investments in provident funds.
- Business with less than Rs 5 crore annual turnover, will be allowed to return quarterly GST returns.
- Income tax returns to process within 24 hours.
- Within the next 2 years, tax returns will be verified electronically without any interference from tax officials.
- Vande Bharat Express, a semi high-speed train to be launched.
- One Lakh digital villages planned in the next five years.
- National Artificial Intelligence will be developed soon in India.
- Mega pension scheme was announced for organised sector workers with income less than of Rs 15,000. They will earn Rs 3,000 after the age of 60.
- 2% subsidy for farmers doing animal husbandry.
- Farmers affected by natural calamities to get 2% subsidy and an additional 3% subsidy on timely repayment.
- Minimum support price (MSP) increased by 1.5 times for all the 22 crops.
- Pradhan Mantri Kisan Samman Nidhi announced, under which farmers with less than 2 hectares landholding will get Rs 6,000 per year in three instalments.
- The 22nd AIIMS to come up in Haryana.
- Rs 64,587 crore budgetary support for railways.
- The fiscal deficit is likely to be 2.5% in 2019-20.
- Loves to read books and play video games. Also a science enthusiast with interest in astrophysics and astronomy.