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.
👉 India will become Open Defecation Free (ODF) by October 2, 2019. A total of 9.6 crore Toilets constructed since Oct 2, 2014.
👉 Har Ghar Jal (Water) to all Rural Households by 2024.
👉 Extension of interest subvention scheme for women-led SHGs to all districts of India. Overdraft of Rs. 5000 for every SHG female member.
👉 Under MUDRA, one Woman in every SHG wi be eligible to get a loan of Rs 1 lakh.
👉 35 crore LED bulbs distributed under Ujala Scheme. Usage of LED bulbs resulted in a saving of Rs 18,341 crore annually.
👉 1,25,000 km of Roads to be constructed in next 5 years at the cost of Rs 80,250 Crores.
👉 1.9 crore houses to be provided to citizens of the country by 2022.
👉 One Nation One Grid for better and affordable power supply.
👉 Govt to develop 75,000 Entrepreneurs for agro-rural industries.
👉 17 iconic tourism sites will be developed as world-class destinations.
👉 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.
👉 Target of Rs 1,05,000 crore through disinvestment.
👉 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.
👉 Additional income tax relief of Rs 1.5 lakh on housing loans taken till March 2020.
👉 Aadhaar can be used instead of PAN Card to file income tax returns.
👉 GST Council has been asked to lower #GST on Eectric Vehicles to 5% from 12%.
👉 Govt proposes a Rs 1.5 lakh tax exemption on loans to buys Electric Vehicles.
👉 25% tax rate for Companies having annual turnover of up to Rs 400 crore.
👉 2% TDS on Cash Withdrawal of over Rs 1 Cr in a year.
👉 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.
👉 Excise Duty on petrol/diesel increased by Re 1.
👉 Customs duty on Gold & Precious metals increased to 12.5% from 10%.
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