INTERIM BUDGET 2019 – highlights

INTERIM BUDGET 2019 – highlights

Jaya Maheshwari
01 Feb 2019 01:25 PM
  • 2018-19 Fiscal deficit target revised to 3.4%
  • Current account deficit to be contained at 2.5%
  • Mahatma Gandhi National Rural Employment Guarantee (MGNREG) program’s allocation increased by Rs 5000 crore to Rs 60,000 crore
  • Direct Benefit Support of Rs 6,000 crore to farmers with landholdings below 2 hectares; around 12 crore farmers to benefit from the scheme. This will cost the govt around Rs 75,000 crore.
  • Double Rural subvention – 2% for animal husbandry and fisheries
  • Mega Pension Scheme Rs 500 cr for unorganized sector
  • Achieved over 98% rural sanitation coverage.
  • Average GST collection at Rs 97,100 crore
  • FY20 Defence budget at Rs 3 lakh crore
  • EPFO limit enhanced from Rs 2.5 lakh to Rs 6 lakh
  • Expenditure target at Rs 27.84 lakh crore for FY20
  • Capital expenditure target at Rs 3.36 lakh crore for FY20
  • Would reach Rs 80,000 crore divestment target
  • Direct tax collections at Rs 12 lakh crore from Rs 6.38 lakh crore in 2014
  • Full Tax rebate for salary upto Rs 5 lakhs – benefit of Rs 18,500 cr to 3 crore salaried people.
  • Standard deduction raised from Rs 40,000 to Rs 50,000
  • Interest income from bank deposits above Rs 40,000 to be taxed from earlier Rs 10,000.
  • TDS threshold raised from Rs 10,000 to Rs 40,000 on post office savings
  • Capital gain exemption under section 54 increased to Rs 2 crore.


Date : Feb-2019