10 Key Highlights Every Citizen Should Know About From Union Budget 2019

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353 majority tho second time  Bharatiya Janata Party central lo government ni form chesindi. Nirmala Sitharaman who is our Finance Minister now, 2019 year ki ee roju Parliament lo Budget release chesaru. Sitharaman was India’s second female Defence Minister and is now the second female Finance  Minister after Indira Gandhi. She is also the first full-time female finance minister of our country.

Ika Finance Minister ga charge tisukunna Nirmala Sitharaman garu eeroju parliament lo 2019 maiden budget pravesha pettaru. Ee budget lo key highlights ento once chuseddam.

1. 5 lakh minimum limit announced for taxpayers:

Union budget 2019

As announced before the elections, budget speech lo Annual Income Rs. 5 Lakh rupees lopu unte tax exemption gurinchi cheppadam start chesi, aa income tax exemption ni budget lo include chestunnatu chepparu.

2-5 Crore Annual Income vallu 3% tax and Above 5 crore Annual Income unna vallu 7% varaku tax pay cheyyali. And no tax changes for Salaried class and salaried employees.

2. Ease of living and Aadhar for NRIs on arrival:

Union budget 2019

Govt is planning to make it ‘interchangeable’ with permanent account number (PAN) cards and Aadhar Card. So that any place where a citizen has to show their PAN card, can now use their Aadhaar card.

By arriving on airport NRIs who have Indian passport can get instant Aadhar Card. Inthaka mudhu aite 180 days mandate ga wait cheyalsi vacchedhi.

3. Jal Shakti Ministry:

Union budget 2019

Country face chesthunna water crisis ni drustilo pettukuni water resources and 2022 varaku prathi intiki drinking water andhe la ‘Har Ghar Jal’ initiate chestunattu chepparu. Ee mission ni supervise cheyadaniki separate ‘Jal Shakthi Ministry’ ni start chestunaru.

4. The lower tax rate for corporate companies:

Union budget 2019

400 Crores Annual Income unna companies ki corporate tax reduce chestunattu chepparu. So that 99.3% corporate companies fall under this category will get benefited directly.

5. Women empowerment:

Union budget 2019

Self-Help Group (SHG) group members ki upto Rs. 1 Lakh varaku loan eligibility raise chestunattu cheparu.

Group lo unna every verified woman SHG member having a Jan Dhan account can avail Rs 5,000 rupees under overdraft facility.

6. Education:

Union budget 2019

‘Study in India’ new education policy dwara forign lo unna Indian students India lo
Chadivela encourage chestamanani, and at the same time National Research Foundation (NRF) dwara research conduct chesi better education policy and infrastructure would focus on funding, coordinating and promoting the various research initiatives ni chestamani chepparu Finance Minister.

7. Lowering GST on Electric Vehicles:

Union budget 2019

To encourage pollution free electric vehicles government will lower the GST rate on electric vehicles(EV) from 12% to 5%. On additional income tax deduction of 1.5 lakh rupees on the interest paid on the loans taken to purchase EVs.

8. Banking reforms:

Union budget 2019

From now onwards who will withdraw above Rs. 1 Crore from bank in a year are supposed to pay 2% TDS. This proposal is to encourage digital payments and discourage cash withdrawals and transactions.

9. Special Excise Duty on Petrol and Diesel:

Union budget 2019

1 Litre petrol and diesel meedha one rupee excise duty ni penchutunaru. So that petrol and diesel prices almost10% nundi 12..5% varaku perige chances untayi.

10. New 20 Rs Coin & New Space India Limited:

Union budget 2019

New series of Re 1, Rs 2, Rs 5, Rs 10 and 20 rupees coin ni ippudu market loki introduce chestunattu chepparu Finance Minister. New Space India Limited (NSIL) is a new commercial arm helps ISRO and other Research & Development wings simultaneously. And NSIL will play a major role in space products and commercialisation with other space bodies.
Here Take A Look At ‘10 Points of Vision’ In Every Aspect Announced By Our Finance Minister:

1. Key Budget Highlights

  • Building social infrastructure among 10 points of vision
  • Building a pollution-free environment among 10 points of vision
  • Digital India in every sector among 10 points of vision
  • Make in India with stress on MSME in 10 points of vision
  • Water management, clean rivers among 10 points of vision
  • Export of food grain in 10 points of vision
  • Ayushman Bharat, clean India among 10 points of vision
  • Space programmes, safety of citizen in 10 points of vision

2. GROWTH, INFLATION

  • Well within capacity to reach $5-trln economy in few years
  • India to become $3-trln economy in FY20
  • India now 6th largest economy vs 11th five years ago

3. REFORMS

  • Need to continue undertaking structural reforms
  • Need to continue structural reforms to reach $5-trln aim
  • Need to invest in job creation in MSMEs
  • Need to invest heavily in digital India, job creation
  • $5-trillion economy target is imminently achievable
  • “Gone are the days of policy paralysis”
  • Wish to propose many initiatives to kick-start growth
  • Reforms needed in power tariffs
  • To soon announce policy package for power tariffs
  • Model tenancy law to soon be finalised
  • Propose several reform measures for rental housing
  • PPP to fast develop track, rolling stock, freight svcs
  • To have blueprint for water grids, gas grids, airways
  • Examining performance of UDAY scheme
  • One nation, one grid to ensure power connectivity
  • 2 more terminals at Sahibganj, Haldia to be functional soon
  • Movement of cargo in river Ganga to rise 4 times in 4 yrs

4. FINANCIAL SECTOR, MARKETS

  • FDI inflows remain robust despite global headwinds
  • Important to increase retail invest in T-bills
  • Propose to create platform for listing social enterprises
  • To work with regulators for AA bonds as collateral for repo
  • Asked SEBI to mull hiking minimum public shareholding to 35%
  • Propose to rationalise existing KYC norms for FPIs
  • India needs 20-trln-rupee estimated investment every year
  • To put in place action plan to deepen long-term bond mkt
  • Action plan to deepen market for long-term bonds
  • Invest driven growth requires access to low-cost capital
  • To create payment platform for MSMEs
  • Large infrastructure can be built on land owned by CPSEs
  • To allow FPIs to subscribe to listed debt papers of REITs
  • Propose to merge NRI, FPI investment scheme routes
  • To mull hiking FDI limit in media, insurance, animation cos
  • Contemplating an annual global investors meet in India
  • Propose 100% FDI in insurance intermediaries
  • To examine suggestions to further open up FDI in aviation
  • FDI flows rose 6% to $64.37 bln in FY19
  • Propose to make India a more attractive FDI destination
  • To take steps for RBI, SEBI depositories’ interoperability
  • To allow FPIs to subscribe to listed debt papers of REITs
  • Propose to merge NRI, FPI investment scheme routes
  • To mull hiking FDI limit in media, insurance, animation cos
  • Contemplating an annual global investors meet in India
  • Propose 100% FDI in insurance intermediaries
  • To examine suggestions to further open up FDI in aviation
  • FDI flows rose 6% to $64.37 bln in FY19
  • Propose to make India a more attractive FDI destination
  • To take steps for RBI, SEBI depositories’ interoperability
  • To allow FPI invest in listed debt securities of InvITs

5. INFRASTRUCTURE, INDUSTRY

  • Need to invest heavily in infrastructure
  • Rail infra may need investment of 50 trln rupees 2018-2030
  • 2nd stage of Bharatmala to help develop state roads
  • To incentivise advanced vehicle battery manufacturing
  • Need to develop inland waterways for cargo movement
  • To comprehensively restructure national highway programme
  • To comprehensively restructure national highway programme
  • 210 km of new metro lines operationalised in 2019
  • Launching national common mobility card
  • To leverage engineering skill for project maintenance work
  • Public infra, affordable housing to be taken up in FY20
  • To aid cluster-based development of traditional industries
  • To use more PPP mode for metro rail network
  • Railways to be encouraged to use

 

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