It is about the key points as provided in the Interim Budget passed on 1st of February, 2019 by our Finance Minister,CA Piyush Goyal

1. INTERIM BUDGET
(FY 2019-20)
Who all are benefitted??
-----MAYANK BAID

2.  On 1st of February, 2019, Union
minister CA Piyush Goyal presented
the election year Interim Budget in
parliament and announced major relief
for farmers and individual taxpayers.
 With the Lok Sabha election just few
months away, the government
kept the budget focused specially on
immediate relief such as easing
income tax rules, favourable loan
terms for small businesses, and even
direct cash transfers to small farmers.

3. Taxes changes
- Full tax rebate for taxpayers
having income up to Rs 5 lakh per
annum
- No tax on notional rent on second
self-occupied house
- Capital Gains exemption under
Section 54 to be available on two
house properties
- Standard deduction raised to Rs
50,000 from Rs 40,000 for salaried
individuals

4. -Benefits under Sec 80(i)BA being
extended for one more year, for all
housing projects approved till end of
2019-20
- TDS limit hiked from Rs 10,000 to
Rs 40,000 for interest earned from
banks as well as from post office
deposits
-TDS threshold on rent raised from Rs
1.8 lakhs to Rs 2.4 lakhs
- 2% interest subvention on loan of 1
crore for GST regd. MSME units

5. Economy
- FY20 fiscal deficit target set at
3.4 percent
- Expenditure target for FY20 set at Rs
27.84 lakhs crore
- Capital expenditure for FY20 set at Rs
3.36 lakhs crore
- FY19 fiscal deficit pegged at 3.4
percent of GDP; current account deficit
at 2.5 percent of GDP
- FY20 gilt repayment pegged at Rs
2.36 lakhs crore

6. For Rural India
- Farmers with less than two hectares
to be offered Rs 6,000 per year as
direct transfer under PM Kisaan
Samman Nidhi by way of direct into
the bank account of beneficiary
farmers in three instalments of Rs
2,000 each. Around 12 crore farmers
to benefit from the scheme.

7. - Mahatma Gandhi National Rural
Employment Guarantee program’s
allocation increased by Rs 5,000
crore to Rs 60,000 crore for FY20
- Farmers struck by natural calamities
will now receive 2-5% interest
subvention under insurance scheme

8. - 2% interest subsidy to be given to
farmers involved in animal husbandry
activities via kisaan credit card
scheme.
- An additional three percent subsidy
will be paid on timely payment of loans
- Government announces setting up of
Rashtriya Kamdhenu Aayog to
enhance productivity of cows

9. Animal Husbandry & Fishing
- Separate Department of Fisheries
created, 2% interest subvention for those
in fisheries
- To provide Rs 750 crore in FY19 to
support animal husbandry and fishing

10. Workers & Employees
- Monthly pension of Rs 3,000 for
workers in the unorganised sector to
be paid out after retirement under
Pradhan Mantri Shram Yogi Yojana.
- Employees' State Insurance eligibility
cover limit has been raised to Rs
21,000 p.m. from Rs 15,000 p.m.

11. - Gratuity limit increased from Rs 10
lakhs to Rs 30 lakhs
- Workers who suffer grievous injuries
will now receive Rs 6 lakhs from Rs
2.5 lakhs through (EPFO)

12. Education, Medical, & Society
- Rs 38,572 crore allocated for the
National Education Mission
- Another All India Institutes
of Medical Sciences to be set up in
Haryana
- Rs 76,800 crore allocated for welfare
of Scheduled Castes (SCs) and
Scheduled Tribes(STs)

13. Others
-Railways- Railway capital expenditure
raised to Rs 64,586 crore in FY20 from
Rs 53,060 crore in FY19
-Defence- Defence budget for FY20
raised to Rs 3 lakh crore
-Filmmakers- Single window clearance
for film-makers. Anti-camcording
provision to be introduced to
Cinematography Act to combat film
privacy