Some highlights of Union Budget 2019
19 highlights of India budget 2019.
1-An interim Budget 2019-2020, the government has announced that there will no income tax for up to Rs 5lakh.
2-Individuals with gross income of up to Rs 6.5 lakh will not need to pay any tax if they make an investment in provident funds and prescribed equities.
3-Standard tax deduction for a salaried person has been raised from 40,000 to 50,000
4- TDS threshold on interest on bank and post office deposits raised from Rs 10,000 to Rs 40,000
5- TDS threshold on rental income increased from Rs 1.8 lakh to Rs 2.4 lakh
6- Income tax refunds will be processed within 24 hours and released immediately
7- Package of Rs 6000 per annum for farmers with less than 2 hectares of land and the scheme will be called ( PRADHAN MANTRI KISAN SAMMAN NIDHI)
8- The government has set a target of 1 lakh digital villages in the next 5 years.
9- In order to prevent piracy and contact theft of Bollywood films ANTI-CAM CORD regulation will be introduced in the Indian cinematography Act.
10- The ESI or Employee's State Insurance cover limits has been increased to Rs 21,000
11- Workers from the organised / un-organised sector income of less than Rs 15,000 will earn Rs 3000 after the age of 60 years under the scheme (PM SHRAMYOGI MAAN DHAN YOJANA)
12- The government will set up 22nd AIIMS in Haryana.
13- Workers who suffer grievous injuries will now cover Rs 6lakh from Rs 2.5 lakh through (EPFO)
14- The government has given 10 point vision for 2030 to realize India's social economic potential.
15- Rashtriya Kamdhenu Aayog will be set up for the welfare of cows in the country.
16- The data consumption in India has increased by at least 50% in the last 4 years.
17- India has become the Second Largest hub of Start-Ups.
18- Installed solar generation capacity in India has increased by 10 times in the last 5 years.
19- Exemptions from GST for small businesses has increased from Rs 20 lakh to Rs 40 lakh.
