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Key Takeaways from #Budget2019

The News Insight: Here are the key takeaways from the Union Budget 2019 presented by Defence Minister Nirmala Sitharaman in Lok Sabha today. Out of various points, here are a select few.

πŸ‘‰ India will become Open Defecation Free (ODF) by October 2, 2019. A total of 9.6 crore Toilets constructed since Oct 2, 2014.

πŸ‘‰ Har Ghar Jal (Water) to all Rural Households by 2024.

πŸ‘‰ Extension of interest subvention scheme for women-led SHGs to all districts of India. Overdraft of Rs. 5000 for every SHG female member.

πŸ‘‰ Under MUDRA, one Woman in every SHG wi be eligible to get a loan of Rs 1 lakh.

πŸ‘‰ 35 crore LED bulbs distributed under Ujala Scheme. Usage of LED bulbs resulted in a saving of Rs 18,341 crore annually.

πŸ‘‰ 1,25,000 km of Roads to be constructed in next 5 years at the cost of Rs 80,250 Crores.

πŸ‘‰ 1.9 crore houses to be provided to citizens of the country by 2022.

πŸ‘‰ One Nation One Grid for better and affordable power supply.

πŸ‘‰ Govt to develop 75,000 Entrepreneurs for agro-rural industries.

πŸ‘‰ 17 iconic tourism sites will be developed as world-class destinations.

πŸ‘‰ NPAs reduced by Rs 1 lakh crore. Rs 4 lakh crore recovery through IBC (Insolvency & Bankruptcy Code). 6 PSU banks have come out of trouble. PSU banks to be given Rs 70,000 crore.

πŸ‘‰ Target of Rs 1,05,000 crore through disinvestment.

πŸ‘‰ No charge on customers for digital payments. Merchants & customers don’t have to pay any charges or Merchant Discount Rate (MDR) for making digital payments.

πŸ‘‰ Additional income tax relief of Rs 1.5 lakh on housing loans taken till March 2020.

πŸ‘‰ Aadhaar can be used instead of PAN Card to file income tax returns.

πŸ‘‰ GST Council has been asked to lower #GST on Eectric Vehicles to 5% from 12%.

πŸ‘‰ Govt proposes a Rs 1.5 lakh tax exemption on loans to buys Electric Vehicles.

πŸ‘‰ 25% tax rate for Companies having annual turnover of up to Rs 400 crore.

πŸ‘‰ 2% TDS on Cash Withdrawal of over Rs 1 Cr in a year.

πŸ‘‰ 3-7% additional surcharge on taxable incomes of Rs 2-5 Cr & above. 3% on income of Rs 2-5 crore and 7% on income of above Rs 5 crore.

πŸ‘‰ Excise Duty on petrol/diesel increased by Re 1.

πŸ‘‰ Customs duty on Gold & Precious metals increased to 12.5% from 10%.

#BudgetForBharat #BudgetForNewIndia #BudgetWithTNI #TheNewsInsight

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