#Budget2019 : Key Highlights

Budget 2019 : Interim Finance Minister Piyush Goyal #IndiaMatters

The Big Vision

? People of India gave a strong mandate to our government in 2014. Under PM Modi, we have given a decisive, stable and clean government

? We have laid the foundation for India's growth and development for years to come: FM

? We are poised to become a $5 trillion economy in the next five years and aspire to become a $10 trillion economy in the next eight years, says Goyal

? Goyal underlines 10 most important dimensions that will guide the government in Vision 2030

? Govt aims to build next-gen infrastructure - physical as well as social - for a $10 trillion economy and to provide Ease of Living: FM

? We aim to build a Digital India that reaches every citizen by creating innumerable startups and jobs: FM

? Our third dimension is Clean and Green India - an India that drives #electricvehicles , with #renewables becoming major source of energy: FM

? We also aim to expand rural industrialization using modern industrial technologies, based on Make In India approach: FM

? India provided leadership to the global climate change effort: Goyal

On #Reforms

? We are the fastest growing economy today with a GDP growth rate higher than any government since economic reforms kicked in

? #RERA has helped bring transparency in the real estate sector: FM #RealEstate

? I thank the people of India for their active contribution to the Swacch Bharat Abhiyan: FM

? More than 98% #rural #sanitation coverage has been achieved; more than 5.45 lakh villages declared ODF: mindset change achieved, becoming a Jan Andolan: FM

? We provided free #electricity to almost every house through Saubhagya scheme: FM Goyal

On #Growth

? We are today the 6th largest economy says FM Piyush Goyal

? The economy has logged growth rates of 8.2 per cent and 7.1 per cent in the first and second quarters of fiscal year 2018-19 respectively.

On #Inflation

? Inflation in December 2018 was just 2.1%

? Our families would be spending 35-40% more today on basic necessities if we didn't contain it, says FM

On #FDI

? India attracted a massive amount of FDI in the past five years, FM says

? India attracted $239 billion FDI in the past five years

On #FiscalDeficit

CAD to come down from 5.6% to 2.5% this year. Fiscal deficit is to be 3.4% this year as per revised estimates. Our families would be spending 35-40% more today on basic necessities such as food travel consumer durables housing. Our families would be spending 35-40% more today on basic necessities such as food travel consumer durables housing: Piyush Goyal

? Goyal announces fiscal deficit as a proportion of GDP - 3.4% for the coming year

? Capital expenditure - Rs 3.36,292 lakh crore, says FM Goyal

On #Banking #Reforms

? An amount of Rs 3 lakh crore has been recovered to restore the health of our banking sector: FM

? Confident that given the pace of reforms in banking sector, other banks too will recover: FM

On #RuralReforms

? Pace of construction of rural roads has been tripled under our tenure, Goyal says

? Targeted expenditure has been undertaken to improve quality of life in villages; we aim to bring development, preserving the soul of #villages : Goyal

? Pradhan Mantra Gram Sadak Yojana allocation is set at Rs 19,000 crore, he said, adding, kids will no longer have to walk from home to school. They will now have a bus service there.

On #Healthcare

? PM Modi launched the world's largest healthcare programme - Ayushman Bharat - to provide medical treatment to nearly 50 crore people, says Goyal amid rousing applause

? PM Modi launched the world's largest healthcare programme - Ayushman Bharat - to provide medical treatment to nearly 50 crore people, says Goyal amid rousing applause

? Lakhs of poor people have benefited from the reduced cost of medicine: Goyal

? 21 AIIMS are currently operating in the country, 14 of which have been announced since 2014, says Goyal

? The 22nd AIIMS will be set up in Haryana soon, says FM

On #Farmers Outreach and Support

? Goyal spoke about government's initiatives for the farmers

? NDA increased MSP to fulfil its aim of doubling farm income: FM

? Will provide Rs 6,000 per annum to be transferred directly to farmers holding land of up to 2 hectres: Goyal

? The amount will be transferred in three installments of Rs 2,000 directly to the farmers. Around 12 crore farmers will directly benefit from this scheme: Goyal

? The initiative will benefit crores of small and marginal farmers, at an estimated cost of Rs. 75,000 crore. It will enable farmers to earn a respectable living: FM

? Our government has decided to create a separate department for fisheries: Goyal

? 2% interest subvention to farmers pursuing animal husbandry and fisheries: FM

? We have increased allocation for Rashtriya Gokul Mission to 750 crore in current year: FM

On #RealEstate

? India is the fastest growing economy today with a GDP growth rate higher than any government since economic reforms kicked in.

? RERA has helped bring transparency in the real estate sector.

? One crore 53 lakh houses have been made which is 5 times the earlier run rate

? Have recovered Rs 3 lakh crore so far from the banking system clean up, Goyal points out as he moves to the initiatives in the real estate sector.

? RERA 2016 and Benami Transaction Prohibition Act are helping to bring #transparency in real estate.

#Defence and #NationalSecurity

? Defence budget enhanced beyond Rs 3 lakh crore, says Goyal

? OROP (one rank, one pension) scheme was pending for 40 years, but it was our government that implemented it: FM

? Already disbursed Rs 35,000 crore for our soldiers under #OROP , substantial hike in military service pay has been announced: Goyal

#Infrastructure

? Today, India is the fastest highway developer in the whole world with 27km of highways built each day: Goyal

? No unmanned level crossings in India anymore. Railways has witnessed safest year: FM

? Vande Bharat Express will provide speed, service and safety to citizens and will give a boost to Make in India: Goyal

#DigitalVillages : #Voice and #Data

? Finance Minister Piyush Goyal says to convert the villages into #digital villages. Govt to make 1 lakh digital villages in 5 years. Jan Dhan Aadhar Mobile #JAM scheme announced

? Cost of data and voice calls in India is now possibly the lowest in the world; mobile and mobile part manufacturing companies have increased from 2 to 268: Piyush Goyal

#Tax #Reforms #MiddleClass

? Would like to thank taxpayers for their contribution towards nation-building, says Goyal

? Proposals for small taxpayers should not wait: Goyal

? Propose to the following tax reforms: Individual taxpayers with annual income of up to Rs 5 lakh will get full tax rebate: Goyal

? Standard deduction has been increased to Rs 50,000 from Rs 40,000: Goyal

? Individuals with gross income up to Rs 6.5 lakh will not need to pay any tax if they make investments in provident funds and prescribed equities: FM

? We have increased tax-free gratuity from Rs 10 lakh to Rs 20 lakh: Goyal

? High growth and formalization of economy have resulted in increased EPFO membership by 2 crore in last two years: FM Goyal

? Our government proposes to launch a mega pension yojna: FM Goyal

? Beneficiaries will be provided assured pension of Rs 3,000 per month: FM

? The pension scheme is being launched for unorganized sector workers, says Goyal

? The scheme, called Pradhan Mantri Shram Yogi Mandhan, will provide assured monthly pension of Rs 3,000 with contribution of Rs 100 per month for workers in unorganized sector after 60 years of age: FM

? We have reduced tax rates for the common man and middle class: FM

? Tax collections have increased significantly. The number of returns filed have also risen: FM

? We have taken steps towards transforming the income tax department to process returns as quickly as possible: Goyal

? 99.54 percent of all I-T returns last year were accepted immediately: Goyal

#Accountability #Transparency #Inclusion

? Goyal spoke on demonetisation and drive against black money

? Our government is committed to eliminating the ills of black money: FM

? Anti-black money measures taken by us in the last year have brought undisclosed income of Rs 1.3 lakh crore back in circulation: FM

? Due to note ban, over 1 crore people have filed tax returns: FM

? Reducing tax burden on middle class has always been our priority: Goyal

? Our government implemented the GST, which is undoubtedly the biggest taxation reform since Independence: FM

? A bevy of taxes was brought under a single regime, says Goyal

? In a relief for common man, most daily-use items are now under 0-5% tax slab under GST: Goyal

? Rs 56,619 crore made in budget estimate 2018-19 for welfare of SCs and STs, increased to Rs 62,474 crore in revised estimate 2018-19 has been further increased to Rs 76,800 crore in budget estimate 2019-20: FM

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#BudgetForNewIndia

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