Editor’s Pick

Budget 2019

Take-aways…

  • Individual taxpayers with annual income up to 5 lakh rupees to get full tax rebate

  • Individuals with gross income up to 6.5 lakh rupees will not need to pay any tax if they make investments in provident funds and prescribed equities

  • Around 3 crore middle class taxpayers will get tax exemption due to this measure

  • Standard tax deduction for salaried persons raised from 40,000 rupees to 50,000 rupees

  • 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 1.8 lakh to 2.4 lakh rupees

  • Benefit of rollover of capital tax gains to be increased from investment in one residential house to that in two residential houses, for a taxpayer having capital gains up to 2 crore rupees; can be exercised once in a lifetime

 

 

  • Benefits under Sec 80(i)BA being extended for one more year, for all housing projects approved till end of 2019-2020

  • Amendments proposed to ensure streamlined system for levy of stamp duties, to be imposed and collected at one place, seamlessly

  • Expenditure to rise by 13% from RE 2018-19 to BE 2019-20,Capital expenditure – 3.36,292 lakh crore

  • FM announces fiscal deficit as a proportion of GDP – 3.4% for the coming year, considering need for income support for farmers

  • GST registered MSME units to get 2% interest subvention on loan of 1 crore

  • Businesses with less than Rs. 5 crore annual turnover, comprising over 90% of GST payers, will be allowed to file quarterly returns.

  • Within almost two years, almost all assessment and verification of IT returns will be done electronically by an anonymized tax system without any intervention by tax officials.

  • Single window clearance for filmmaking to be made available to Indian filmmakers, anit-camcording provision to be introduced to Cinematography Act to combat film privacy.

  • @CSCegov_ CSCs are creating digital infra in villages, to convert them into digital villages: FM Piyush Goyal.

  • Defence budget enhanced beyond 3 lakh crore rupees.

  • 9 nine priority areas identified; National Artificial Intelligence Portal to be developed soon.

 

Mega Pension Yojana to benefit 10 crore workers in unorganized sector

  • Mega Pension Yojana, namely Pradhan Mantri Shram Yogi Mandhan, to provide assured monthly pension of 3000 rupees per month, with contribution of 100 rupees per month, for workers in unorganized sector after 60 years of age. Will benefit 10 crore workers in unorganized sector, may become the world’s biggest pension scheme for unorganized sector in five years.

  • Gratuity limit increased from 10 lakh to 30 lakh rupees.

  • 2% interest subvention to farmers pursuing animal husbandry and fisheries.

 

  • Farmer income support of Rs 6000/- per year

  • Under Pradhan Mantri Kisan Samman Nidhi, 6000 rupees per year for each farmer, in three installments, to be transferred directly to farmers’ bank accounts, for farmers with less than 2 hectares land holding.

  • To provide assured income support for small and marginal farmers, Pradhan Mantri Kisan Samman Nidhi has been approved.

  • For welfare of farmers and for doubling their income, historic decision taken to increase MSP by 1.5 times the production cost for all 22 crops.

  • To provide assured income support for small and marginal farmers, Pradhan Mantri Kisan Samman Nidhi has been approved.

 

 

 

 

LIVE : Union Finance Minister Piyush Goyal presents Interim Budget 

 

 

PM Narendra Modi arrives in Parliament, Cabinet meeting ahead of presentation of Budget2019 to start shortly

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Pic Courtesy : PIB

 

 

 

 

As per tradition, Finance Minister Piyush Goyal calls on President Kovind at Rashtrapati Bhavan before presenting the Union Budget

Pic Courtesy : @rashtrapatibhvn

Before the Budget Session
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Before today’s budget session at North Block with Piyush Goyal ji, Shiv Pratap Shukla ji along with finance Ministry officials : Pon Radhakrishnan

Pic Courtesy : @PonnaarrBJP

 

The Budget Team

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Union Minister of Finance, Corporate Affairs, Railways & Coal, Piyush Goyal , Union MoS Finance Shiv P Shukla & Ponn Radhakrishnan Revenue Secretary A.B Pandey, Chairman CBIC P K Das and Budget team of CBIC.

 

 

AP CM Chandrababu Naidu wore black to the assembly today as a sign of protest

NCBN wore black to the assembly today as a sign to protest against step-motherly treatment meted out to Andhra Pradesh and for breaking all promises made including Special Status:
via @JaiTDP

 

 

Former Finance Minister P Chidambaram questions…

 

@PChidambaram_IN Tweeted : 

Modi Government revises GDP growth figures upward. What government did not realise was that unemployment figure was also revised upwards!

NITI Aayog vice-chairman asked ‘How can a country grow at an average of 7% without employment?’ That is exactly our question. With unemployment at a 45-year high, how can we believe that the economy is growing at 7 per cent?

The demonetisation year was the best year of growth (8.2%) under Mr Modi. So, let’s have another round of demonetisation. This time let’s demonetise 100 rupee notes.

 

 

Swamy on Ram Temple

Now I am convinced that Government can permit VHP construct sanctum sanctorum of Ram Temple on the 0.313 acre disputed land because it belongs to Govt and Title holder after SC verdict whenever only entitles the holder to compensation under Article 300A of Constitution.

Dharma Sansad and Acharyas can enter the disputed area and start constructing garbhajan graha of the Ram Temple. The land belongs to the Govt and SC is only deciding who should get the compensation:
@Swamy39

 

 

 

A breakfast with promoted Public Works Dept officers

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A breakfast with promoted Public Works Dept officers. The Dept which saved Puducherry from getting flooded by desiring of urban drains as well as making Puducherry water rich in irrigation by helping desilt water channels with help of the community donors. This is the Team A:
@theKiranBedi

 

 

 

Change of good times

A change is underway in Kerala. Projects that were once written off as unrealizable are being resuscitated. The progress of Thalassery-Mahe bypass is a reflection of this change of direction. Special officers were appointed to solve issues related to land acquisition:
@CMOKerala

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