Prime Minister Narendra Modi hailed Budget 2019 and said it will empower the poor and secure a better future for the youth.
Union Budget 2019: Union Minister Nirmala Sitharman on Friday presented her maiden Union Budget which was termed a 'budget of hope' by Prime Minister Narendra Modi.
Among some big takeaways from the Union Budget 2019, Finance Minister Nirmala Sitharaman made big announcements for the start-up sectors like simplifying angel tax, no scrutiny by income-tax on the sources of funds.
Though there no change has been made in income-tax slabs but the government has proposed to levy income tax cess on those having annual income more than Rs 5 crore and above.
The government proposed a reduction in GST slab for electric vehicles and eased filing of GST returns quarterly for small businesses having annual turnover of less than Rs crore.
On affordable housing, the Nirmala Sitharaman said that government was committed to deliver on its objective of affordable housing for all with more focus on infrastructure, increasing the carpet area under the Pradhan Mantri Awas Yojana (PMAY).
However, the transport industry was not that satisfied with the Budget as the government proposed to impose Re 1 cess on diesel and 2% TDS on cash withdrawals of over Rs 1 crore.
Prime Minister Narendra Modi hailed Budget 2019 and said it will empower the poor and secure a better future for the youth.
Take a look at key figures on government expenditure, share of funds to States, UTs, subsidies, government sources for fiscal receipts and other stats.
1. Budget 2019: Resources transfered to States and UTs
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States and union territories will get some more funds from the Centre in the current financial year, as compared to the previous one.
In the current fiscal, the estimated amount according to revised figures stands at Rs 13.29 lakh crore while it was Rs 12.47 lakh crore in 2019-2019. (Info: PIB)
2. Budget 2019: Expenditure in subsidies
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A look at the expenditure the government is planning to spend on subsidies, to make essential goods and services available at reduced prices to consumers and industries. (Info: PIB)
3. Budget 2019: Trends in tax receipts
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Trends in tax receipts: Tax-GDP ratio is estimated to be 11.7% for the coming financial year. (Info: PIB)
4. Budget 2019: Funds sources and expenditure
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All in a rupee — a break-up of estimated government receipts and expenditure, as per Budget 2019. (Info: PIB)
5. Budget 2019: Sources of deficit financing
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A look at how the government finances the shortfall in revenues over expenditure in the coming year. (Info: PIB)
6. Budget 2019: Banking and Financial sector
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Public Sector Banks proposed to be provided Rs 70,000 crore capital to boost credit. The government will provide one time six months' partial credit guarantee to Public Sector Banks for the first loss of up to 10%. (Info: PIB)
7. Budget 2019: Central govt expenditure
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Central govt expenditure: A break of how public money will be spent by the government in the coming financial year. (Info: PIB)
8. Budget 2019: Trends in deficit
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Budget 2019 envisages a fiscal deficit of 3.3% and a revenue deficit of 2.3%. (Info: PIB)
9. Budget 2019 at a glance: Receipts and Expenditure
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A glance look at the Budget 2019 including government expenditures and receipts. (Info: PIB)
10. Pradhan Mantri Matsya Sampada Yojana
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Pradhan Mantri Matsya Sampada Yojana to establish a robust fisheries management framework under which 10,000 new Farmer Producer Organisations will be formed to ensure economies of scale for farmers over the next 5 years. (Info: PIB)
