Union Budget 2019- 20: Key Highlights
As the Union Budget was presented by Nirmala Sitaraman on Friday in the Parliament. She is the second woman finance minister of India after India after Indira Gandhi. While presenting the Union Budget, Nirmala Sitharaman said, “We will be happy to only that much taxes that is necessary from the taxpayer. We will not trample on the taxpayer. ”
Here are the highlights of the Union Budget 2019- 20.
- PAN Card and Aadhar card will be interchangeable for filing Income Tax Return.
- Excessive duty on fuel hiked by ₹ 2.
- Pension benefit will be extended to 3 crore retail traders under PM Karam Yogi Maan Dhan Scheme.
- ₹ 70000 crore in recapitalisation for public sector banks.
- Aadhaar cards will be provided to NRIs with Indian passports without any waiting period.
- GST rate on electrical vehicles proposed will be reduced by 5%.
- ₹ 50 lakh crores proposed for Railway Infrastructure.
- ₹ 20 coin will be introduced soon.
- Additional deduction of ₹ 1.5 lakh on loans up to March 31, 2020 for buying affordable houses, giving ₹ 7 lakh benefit to home buyers.
- Stress on Zero budget farming, a form of gardening as a self- sustainable practice, with minimum external intervention.
- All the rural families will have electricity and clean cooking facility by 2022, except the ones unwilling to take it.
- Gandhi-pedia to be developed on the lines of encyclopedia to promote Gandhian school of thought.
- New Space India Limited (NSIL) has been incorporated.
- Khelo India Scheme will set up National Sports Education Board.
- Women Self-help Group Interest Subvention Programme to be expanded to all districts in India.
- Fiscal deficit brought down to 3.3% in 2019 from 3.4%.