Modi Government has presented the final budget of the present tenure. This time, due to the illness of Arun Jaitley, Piyush Goyal presented the budget in the Parliament as the caretaker finance minister.
The Modi government presented the last budget of its tenure today. It is also being called an election budget. The central government has announced several major announcements for this village, poor, farmers and laborers in this budget. Taxable income up to 5 lakhs for lower middle class was also tax-free in the budget.
Income tax deduction upto 5 lakhs
Career Finance Minister Piyush Goyal gave a big gift to the lower middle class in the budget. Taxable income upto 5 lakhs is tax-free However, the middle class got rid of despair. No change in tax slab Goyal said, "Personal income up to Rs 5 lakhs will be completely tax free and there will be no tax on personal income up to Rs 6.50 lakhs with various investment measures. Growth of personal tax exemption will increase tax benefits of up to Rs 18,500 crore to 30 million taxpayers. Standard deduction from Rs 40,000 to Rs 50,000 has been made for the salaried class. ' After this announcement, Modi-Modi slogan continued for long in Parliament Goyal said, "We thank the tax payers. The country develops only through your tax. '
Counted the achievements of the government
The Finance said Minister , "I can assure that India has come back strongly on track. The country has progressed on the path of prosperity and prosperity. Our government has only broken the waistline of inflation. We have promised to give home to all people till 2022. sixth largest economy in the world. The GDP growth was the highest after the reform. We have curtailed fiscal deficit. There has been unprecedented increase in FDI in the last five years. Our government had the power to tell us RBI to look at all the loans and keep the right conditions of the banks in front of the public. The government has tried to reduce the NPA and has succeeded to a great extent. Transparency has been brought into the real estate sector through Rira. '
Ayushman Bharat's Big Achievement
Finance Minister Piyush Goyal on Friday said that under the world's largest health care program 'Ayushman Bharat Yojana', 10 lakh patients have been treated so far. While presenting the interim budget for 2019-20 in the Lok Sabha, Goyal said that the government is providing medicines at affordable rates through public drug stores. Underlining the steps taken by the Narendra Modi-led government to provide affordable health care to the poor, he said that 21 All India Institute of Medical Sciences (AIIMS) have been established or working out of which 14 institutions 2014 has been approved '. Goyal said that another institute will be opened in Haryana.
Big announcement for farmers
Our government has given 50 percent more MSP than cost in all 22 crops. We did historic work to increase the income of farmers. The income of small and marginal farmers will be increased. Farmers' land will go up to 6 thousand rupees every year to 2 hectares (about 5 acres). About 12 crore farmers will get direct benefit from this. It will be implemented from December 1, 2018.
Defense budget: 3 lakh crores
For the fiscal year 2019-20, the defense budget has been kept more than Rs 3 lakh crore, which is the highest ever any year. Finance Minister Piyush Goyal gave this information in the Lok Sabha on Friday. While presenting the interim budget for 2019-20, he said, "Our soldiers protect the country on borders, which we are proud of. We have allocated more than Rs 3 lakh crore in the budget to secure our borders, which is the highest ever so far. If needed, additional fund will be provided. Goel said that the government has implemented One Rank, One Pension Concept and has so far distributed more than Rs. 35,000 crores. "The Congress government kept ORO's promise in the budget three times, but we have implemented it."
Read: For the first time, the defense budget increased to 3 trillion
Number of taxpayers increased by 80 percent
The number of taxpayers across the country increased to 80%. For the first time, Rs 12 lakh crore was deposited. I thank the honest taxpayers of the country. Direct tax recovery system will be made easier. The tax collection money will be in the development of the poor. Our government will take away the removal of black money from the country. 1 lakh 36 thousand crores tax was found from the note-book. More than 10 million people filed tax.
Low inflation
Finance Minister Piyush Goyal on Friday said that the average inflation rate has come down to 4.6 per cent, the lowest in any government tenure since 1991, after the economic reforms. Presenting the interim budget of 2019-20, Goyal told the Lok Sabha that the average rate of inflation was 10.1 percent between 2009 and 2014 and it has come down to 4.6 percent in the NDA government. According to Goyal, the inflation rate was slightly higher than two perc.