The minister of financial affairs Mr. Piyush Goyal unveiled the union budget for 2019 on Friday 1. In starting off his presentation, Mr. Piyush Goyal hoped for the early recovery of ex-Finance Minister Mr. Arun Jaitley.
It was clear that the budget was focused on the betterment of middle-class person & farmers. For a middle-class person whose annual income is not more than ₹ 5 lakh will be provided with tax allowance & those too who will make an investment in Economical Funds on some terms.
For farmers, Mr. Piyush Goyal also read out the PRADHAN MANTRI KISAN SAMMAN NIDHI SCHEME in which, farmers who have land less than 2 hectares will get ₹ 6000 P.A. in his account. For this scheme , Government has allotted ₹ 75000 crores.
Mr. Piyush Goyal faced slogans & noises full of allegations while in his 104 min of presentation, some members of Opposition Parties started showing the Data of Unemployment Rate, but even after all the allegations, he presented all the achievements and the steps taken by the BJP against corruption in last 5 years. He read out all the schemes and policies which were in the favor of common citizen, farmers & youth, initiated by the Government & also presented all the schemes, policies, projects mentioned in BUDGET 2019.
These are some Focal Points from the Finance Minister’s Declaration:
- People who have income up to ₹5 lakh don’t have to pay Income Tax & same for people who will invest in funds will also fall in same criteria on some terms.
- STD is increased from ₹40,000 to ₹50,000 for the individual from the organized sector.
- Incoming the next 2 years, all the processing related to tax will be available online and there will be no interaction with the taxpayer.
- Farmers who have land less than 2 hectares will get ₹6000 annually in their accounts under the PRADHAN MANTRI KISAN SAMMAN NIDHI SCHEME.
- Confirmation of 10% RESERVATION in Educational & Government Sector for Financially Weak People while keeping the Criteria of Reservation for SC/ST and other Backward Classes Unchanged.
- Increment in the Construction of Roads in Rural Areas by Three Times under PRADHAN MANTRI GRAM SADAK YOJNA & allotment of ₹19000 crore has been done in 2019-2020 section which is more than 2018-2019 that was ₹15500 crore.
- Declaration of Providing Electricity to Each Family with the Contribution of Private Firms under SAUBHAGYA YOJNA.
- Under AYUSHMAN BHARAT YOJNA, a Fund of ₹3000 crore has been released for the Individual & families who are financially weak. An announcement of Initiation of CONSTRUCTION OF 22th AIIMS in HARYANA.
- Declaration of RASHTRIYA KAMDHENU AAYOG to boost up the Cattle industry and enhance the productivity & production of cows.
- To provide financial support & to maintain the Sustainability of FISHERIES INDUSTRIES, a Provision to put Foundation of DEPARTMENT OF FISHERIES is under Process.
- To make the Process of Application simple for the Farmers under KCC fold.
- An announcement of Pension policy for the people of the organized sector who have income less than ₹15000 & income of ₹3000 for the people of age more than 60 under PRADHAN MANTRI SHRAM YOGI MAANDHAN YOJNA