INTERIM BUDGET 2019-20 -BUDGET SUMMARY

Sarkaritel
By Sarkaritel February 1, 2019 14:02


By TN Ashok

New Delhi, February 1, 2019 : Interim Finance Minister Piyush Goyal  today presented an Interim Budget 2019-20 full of sops for middle class, senior citizens, salaried class in an evidently pre-election budget that goes all out to woo the voters with a hidden statement “ we will do all this, if you vote us to power”.The budget in a way traps the opposition and entices the voters because even if the mahaghatbhandhan comes to power it will be forced to implement schemes such as exemption of income tax upto rs 5 lakhs income of individual tax payers (FY 2019-20) , rs 25,000 crore far loan relief for fy 2018-19 and reliefs of Rs 75,000 crore (FY 2019-20), and other benefits announced by goyal in the absence of the finance minister arun jaitley who is indisposed  .

Goyal , who has done a brilliant job of delivering a well prepared speech of the top brass of BJP, added punchlines in his speech  that should have rattled the opposition benches and ruling benches applauding continuously by thumping the desk chanting “ Modi., Modi,Modi”.Goyal concluding his budget speech saying : “ This is not just an interim budget,  but desh ka vikas ka yatra  ( it’s the nations journey to progress ). Desh badal raha hain desh ke vasiyon he josh se. (The nation is changing due to citizen’s zeal) .Jjan andolan paida huan hain (citizens movement has begun ) . Government has created the foundation, is Desh ke bhavana ka imarat banana ja rahi ( govt is committed to building an edifice of  foundation of trust and beliefs of the people ) . niyat saff hain (our intention is clean) , nidhi spasth hain ( intention is clear )  nishta atal hain ( intention is true commitment) . “

Besides having a major Scheme for the farmers, the interim budget, according to official sources ,  provides tax sops and sets the Developmental Agenda for the years to come. A New Deal for 12 Crore Small and Marginal farmers with direct income support, a path breaking Pension initiative for 10 Crore unorganized sector workers, exempting income up to Rs 5 lakhs from Income Tax, reforms in stamp duty, highest ever budgetary allocation of Rs 3 lakh crore for Defence, record allocation of funds at Rs 58,166 crore for North Eastern Areas, a new AIIMS for Haryana, single window clearance for Indian film makers at par with foreigners and higher budgetary allocations for Education, Health, Infrastructure and for the welfare of weaker sections including Scheduled Castes and Scheduled Tribes, a Separate Department of Fisheries for welfare of 1.5 crore fisherman are some of the major highlights of the Interim Budget 2019- 20.

Major Schemes New Scheme- namely “Pradhan Mantri KIsan SAmman Nidhi (PM-KISAN)” to extend direct income support at the rate of Rs. 6,000 per year to farmer families, having cultivable land upto 2 hectares is announced. While presenting the Interim Budget 2019-20, the Union Minister for Finance, Corporate Affairs, Railways & Coal,  Piyush Goyal said that “our Government is launching a historic programme PM-KISAN with an outlay of Rs.75,000 crore for the FY 2019-20 and Rs.20,000 crore in the Revised Estimates of FY 2018-19”. Under this Government of India funded Scheme, Rs.2,000 each will be transferred to the bank accounts of around 12 crore Small and Marginal farmer families, in three equal instalments. This programme would be made effective from 1st December 2018 and the first instalment.

As expected, the Modi government has presented an almost full scale budget under the pseudonym interim budget, knocking the plank of opposition propaganda  on rafale, agrarian disgtress, farmers suicides, demonetisation wrecking economy and sufferings of middle class in a cashstrapped econoy where there was no manufacturing and no jobs.

Sarkaritel
By Sarkaritel February 1, 2019 14:02