Highlights of Union Budget 2019

Highlights of Union Budget 2019

Union Minister Arun Jaitley who was took care of finance portfolio is in the US for medical treatment.

So Piyush Goyal was given charge of the finance portfolio last week.

Union Minister Piyush Goyal presented the interim budget 2019 in the Lok Sabha on Friday.

The key highlights of budget 2019-2020 presented by the FM Piyush Goyal:

No tax on incomes up to Rs 5 lakhs per year and standard deduction has been raised to Rs 50,000

TDS threshold on interest on bank and post office deposits raised from 10,000 to 40,000 rupees

TDS threshold on rental income raised from Rs. 1,80,000 to Rs. 2,40,000

FM also announced that an individuals with gross income up to Rs. 6,50,000 no need to pay tax if investments made in provident funds

The government has announced Rs 6,000 every year for marginal farmers who have less than 2 acres.

The farmers will get the money in their bank accounts under PM-Kishan Yojana. This scheme will cost Rs 75,000 crores to the government.

Pension scheme for workers in the unorganized sector with a monthly income of up to Rs. 15,000 was also announced.

Piyush Goyal also said that they have uncovered undisclosed income of Rs 1.3 lakh crore in the last year by their anti-black money measures.

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