HIGHLIGHTS OF INTERIM BUDGET 2019
*CAD seen at 2.5%
* Fiscal Deficit seen at 3.4% vs target 3.3%. Next year. target at 3.4%
* Expenditure Target at 27.84 lakh crores
* Capital Expenditure at 3.36 lakh crores
* Rs.38572 crs for Education
* Rs.76800 for Welfare of SC/ST
* Confident on reaching the target of Rs.80000 cr Disinvestments
* MNREGA allocation Rs.60000 crs
* Small Farmers ( less then 2 hectares land ) will get Rs.6000 p.a. as direct benefit from Centre. Which will benefit 12 cr small land farmers
* Defence Budget 3 lakh crores
* Sadak Yojna Rs.19000 crs
* Railways allocated Rs.64587cr
* Mobile Data usage has increases 50X in last 5 yrs
* Farmes welfare allocation Rs.20000 crs this year
* Single Window clearanc for Domestic film makers too
* GST collection increases from 89000 cr p.m. to 97100 cr p.m. in Jan 19 collection may cross 1 lac cr
Direct Tax
– Collection of Direct Tax at 12 lakh crores from 6.38 lakh crores in 2014
– IT filer increases from 3.79 crs in 2014 to 6.85 crs
Changes in Income Tax slabs
– Income Upto 5 lakh – NIL Tax
– Income Upto 5 lakh – NIL Tax
– Standard deduction increases from Rs.40000 to Rs.50000
– Up to Rs.40000 p.a. interest of post office and Bank no TDS
– House Rent Up to Rs.2.4 lac p.a. no TDS
– Capital Gain Exemption under sec 54 increases to 2 crs
– Income Tax on Unsold house notional Rent extension Up to 2 yrs
– No changes in 80C 1.5 lakh limit
