Interim Budget 2019: Has Modi finished like Dhoni?
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Piyush Goyal has presented the interim budget of the 16th Lok Sabha. The budget highlighted about the Modi government performance in providing growth as well as keeping low inflation. The budget totally comes of the expectation of the market. The market has provided the thumbs-up for the budget 2019 through rally. But here are the key Highlights of the budget and what it means for the different class of people.
Budget 2019 For Farmers:
- 6,000 cr for each farmer in three instalments in their bank account with having less than 2 hectares of land.
- Benefit will be reached to more than 12 crore farmers across the nation.
- Maximum support price of 22 important crops will be increased by 1.5 times.
Budget 2019 for Salaried employees:
This budget has brought big tax changes for the salaried employees. Here are some of the list of the benefits provided to one of the world largest middle class.
- Full tax rebate to salaried employees up to Rs. 5 lakhs per annum.
- Standard tax deduction for salaried employee will be increased from 40,000 to 50,000.
- The rollover of capital gains will be increased from investment in one house to two houses.
- TDS on the bank and post office deposit will be increased from 10,000 to 40,000 rupees.
Budget 2019 for Indian Industry
- Two percent interest subversion on loan of 1 crore for GST MSME Units.
- All the housing project will get benefits of income tax 80 ( c) for one more year.
- Business owners and houses with less than 5 crore annual turnover will allow to return quarterly.
As expected the budget is a populist one looking the interest of all the sections of the society. It’s more sort of a balanced budget without changing the course of fiscal deficit and current account deficit.