Top 20 Highlights Of Union Budget 2019 Presented By Finance Minister Nirmala Sitharaman

Top 20 Updates Of Budget 2019:-

Finance Minister Nirmala Sitharaman presented the maiden budget of second Narendra Modi government in Lok Sabha on July 5, 2019

  1. ‘Naari tu Narayaani’. This government believes that ‘with greater women participation, we can progress.’

  2. ₹5 lakh minimum limit announced for taxpayers.

  3.  PAN and Aadhaar to be interchangeable, you can file Income Tax Return by using Aadhaar number.

  4. Deduction on loans upto  31st March 2020 for buying affordable houses.

  5. ‘Gandhi-pedia’ to be developed on the lines of encyclopedia to help promote Gandhian positive thoughts.

  6. Proposed to increase custom duty from 10 % to 12.5% on gold and other precious metals.

  7. No charges or merchant discount rates shall be imposed on customers or merchants which depicts RBI and banks will absorb these costs.

  8. GST to be simplified to a single monthly return.

  9. 2% TDS on cash withdrawals exceeding ₹1 crore in a year from bank accounts.

  10. Deduction of 1.5 lakh rupees on interest paid on loans borrowed upto 31st of March’20 for purchase of house up to Rs 45 lakh.

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  11. Pension benefits to 3 crore retail traders and shopkeepers.

  12. Loans of upto ₹1 crore to be given to MSMEs.

  13. Special additional duty and road and infrastructure cess on diesel and petrol to be increased by Re 2/litre.

  14. The Indian economy will grow to become a 3 Trillion Dollar economy this year itself.

  15. Government has already moved GST council to lower the GST rate on electric vehicles (EV) from 12% to 5%.

  16. Companies having an annual turnover of 400 crores, will now be under the bracket of 25% corporate tax rate.

  17. To further encourage women entrepreneurship, Women Self-help Groups (SHGs) Interest Subvention Programme to be expanded to all districts in India.

  18. We propose to start a television program on ‘DD National’, exclusively for startups. This programme will be designed and executed by startup’s themselves.

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  19. ‘Global Investors Meet’ to happen in India.

  20. India to be ‘open defecation free’ (ODF) by 2nd October’19.