Highlights of Interim budget 2019-20
Tax:
- Income tax exemption limit raised to Rs. 5 Lakh
- Benefit of rollover of capital tax gains to be increased from one residential house to two for capital gains up to Rs. 2 crore
- ITR refunds to come in 24 hrs
Agriculture:
- Rs. 6,000 per year assured income for small and marginal farmers
- PM Kisan Samman Nidhi scheme to cost ?75,000 crore
- 2% interest subvention for farmers affected by natural disaster, additional 3% upon timely repayment
Employment:
- Mega pension scheme for unorganized sector workers- Rs. 3000 rupees per month.
GST:
- Most items of daily use now in the 0% or 5% tax slab
- Group of Ministers to look into reduction of GST for house buyers
Others:
- Defence budget to cross Rs. 3,00,000 crore for first time
- Railways to get Rs. 64,587 crore
- Boost for SMEs: Govt. projects to source 25% material, 3% from only women-owned
- Fiscal deficit for 2019-20 estimated at 3.4 % of GDP
For more: http://pib.nic.in/PressReleseDetail.aspx?PRID=1562187