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    Budget Highlights 19 20 PDF

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    darshanmade
    The Finance Minister presented the key highlights of the 2019-20 Budget. Some highlights include targeting a 5 trillion dollar economy in the next 5 years, reducing the corporate tax rate for small and medium businesses, increasing income tax exemptions for affordable housing, and investing in infrastructure development including rural roads and water access. The budget also aims to promote agriculture, tourism, and electric vehicles through new policies and initiatives.

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    Budget Highlights 19 20 PDF

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    darshanmade
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    The Finance Minister presented the key highlights of the 2019-20 Budget. Some highlights include targeting a 5 trillion dollar economy in the next 5 years, reducing the corporate tax rate for small and medium businesses, increasing income tax exemptions for affordable housing, and investing in infrastructure development including rural roads and water access. The budget also aims to promote agriculture, tourism, and electric vehicles through new policies and initiatives.

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    The Finance Minister presented the key highlights of the 2019-20 Budget. Some highlights include targeting a 5 trillion dollar economy in the next 5 years, reducing the corporate tax rate for small and medium businesses, increasing income tax exemptions for affordable housing, and investing in infrastructure development including rural roads and water access. The budget also aims to promote agriculture, tourism, and electric vehicles through new policies and initiatives.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    19 views2 pages

    Budget Highlights 19 20 PDF

    Uploaded by

    darshanmade
    The Finance Minister presented the key highlights of the 2019-20 Budget. Some highlights include targeting a 5 trillion dollar economy in the next 5 years, reducing the corporate tax rate for small and medium businesses, increasing income tax exemptions for affordable housing, and investing in infrastructure development including rural roads and water access. The budget also aims to promote agriculture, tourism, and electric vehicles through new policies and initiatives.

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    © All Rights Reserved
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    Download as pdf or txt
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    Budget Highlights

    The Finance Minister had presented the highlights of the Budget


    before theParliament. The main highlights of the Budget 2019-20 are
    Budget Highlights – 2019-20
    given below:
     The people of India have validated the two goals for our country’s future: that of the national society
    and economic growth.
     The principle of current sarkar is “Reform, Perform and Transform”.
     The average amount spent on food security per year approximately doubled during 2014-19
    compared to the preceding five years. The number of patents issued more than trebled in 2017-18 as
    against the number of patents issued in 2014.
     Target 5 Trillion Dollar Economy in the next 5 years

    TAX
     The direct tax revenue has increased by over 78% from 6.38 lakh crore in Financial Year 2013-14 to
    around Rs.11.37 lakh crore in Financial Year 2018-19. It is now growing at a double-digit rate every
    year.
     Corporate tax with a turnover of up to Rs 400 crore slashed to 25% from a current rate of 30%.
     Electric Vehicles: Advises GST Council to reduce the tax rate on EVs from 12 percent to 5 percent.
     Start-ups: Propose easing angel tax for start-ups, Angel tax Won’t require scrutiny from the I-T
    department for a start-up.
     Affordable housing: Additional Rs 1.5 lakh tax relief on home loan for the purchase of a house up to
    Rs 45 lakh
     3% surcharge on an income of Rs 2 crore; 7% on Rs 5 crore and above.
     Interchangeability of PAN and Aadhaar: PAN and Aadhaar will become interchangeable. You can
    use your Aadhaar number to file your I-T returns soon
     2% TDS on withdrawals of Rs 1 crore in a year from your bank account for business payments.
     No charge on digital payments: MDR charges waived on cashless payment.
     Aadhaar card for NRIs on arrival in India.
     Proposed to increase customs duty on gold and other precious metals from 10% to 12.5% and Custom
    duty hike on fuel by 1 rupee.

    FINANCE
     On purchase of high-rate pooled assets of NBFC amounting of Rs 1 lakh crore in this FY, govt will
    provide one-time 6-month credit guarantee.
     Propose to provide Rs 70,000 crore capital for PSU Banks.
     Regulation of HFCs (Housing Finance Cos) to move to RBI from National Housing Bank.
     Govt to modify the present policy of retaining 51% stake in PSUs.
     Govt to continue with strategic divestment of select CPSEs.
     Divestment target of Rs 1.05 lakh crore for FY 20.

    RURAL INDIA
     Gaon, Garib, and Kisan are the focus of the government.
     Pradhan Mantri Awas Yojana - Gramin (PMAY-G) aims to achieve the objective of “Housing for All”
    by 2022.
     Every single rural family, except those unwilling, to have electricity by 2022.
     New Jal Shakti ministry will work with states to ensure Har Ghar Jal for all rural houses by 2024
     Govt. will set up 100 new clusters for 50,000 artisans in FY 20.
     To invest Rs 80,250 cr for up-gradation of roads under PM Gram Sadak Yojana

    INDIA’S SOFT POWER


     The Government is developing 17 iconic Tourism Sites into world-class tourist destinations and to serve
    as a model for other tourism sites.
    Budget Highlights
    AGRICULTURE

    Budget Highlights – 2019-20


     Govt to promote innovative zero Budget farming.
     To form 10,000 new Farmer Producer Organizations, to ensure economies of scale for farmers over the
    next five years.
     80 Livelihood business incubators and 20 technology business incubators to be set up in 2019-20 under
    ASPIRE to develop 75,000 skilled entrepreneurs in agro-rural industries.
     Proposed to expand the Swachh Bharat Mission to undertake sustainable solid waste management
    in every village.

    OTHER HIGHLIGHTS
     The New Metro Rail Projects for a total route length of 300 kilometers have been approved during
    2018-19. Also, during 2019, about 210 km metro lines have been operationalized. With this, 657 km of
    Metro Rail network has become operational across the country.
     One nation, one card for seamless mobility. This inter-operable transport card runs on RuPay card and
    would allow the holders to pay for their bus travel, toll taxes, parking charges, retail shopping and
    even withdraw money.
     FAME II scheme aims to encourage faster adoption of electric vehicles through the right incentives
    and charging infrastructure.
     Schemes such as BharatMala, Sagarmala, and UDAN are bridging the rural-urban divide and
    improving our transport infrastructure.
     The government envisions using the rivers for cargo transportation, which will also help to decongest
    roads and railways. This will make the movement of freight, passenger cheaper and reduce our import
    bill.
     Railway infrastructure will need an investment of Rs 50 lakh crore between 2018 and 2030. It is proposed
    to use Public-Private Partnership to unleash faster development and completion of tracks, rolling stock
    manufacturing and delivery of passenger freight services.
     To take connectivity infrastructure to the next level - build on the successful model in ensuring power
    connectivity. Propose to make a blueprint this year for developing gas grids, water grids, i-ways, and
    regional airports.
     Rental laws to be reformed. Modern tenancy laws will be shared with states to promote house renting.
     Introduced providing of loans up to Rs. 1 crore for MSMEs within 59 minutes through a dedicated
    online portal. Under the Interest Subvention Scheme for MSMEs, Rs. 350 crore has been allocated for
    FY 2019-20 for 2% interest subvention for all GST registered MSMEs, on fresh or incremental loans.
     Create a new payment platform for MSMEs
     Extended the pension benefit to about 3 crore retail traders & small shopkeepers whose annual
    turnover is less than 1.5 crore under Pradhan Mantri Karam Yogi Maandhan Scheme.
     Asked SEBI to increase minimum public shareholding 25% to 35% in the listed companies.
     Proposed to rationalize and streamline the existing Know Your Customer (KYC) norms for FPIs to make
    it more investor-friendly without compromising the integrity of cross-border capital flows.
     Proposed to initiate steps towards creating an electronic fundraising platform – a social stock
    exchange - under the regulatory ambit of Securities and Exchange Board of India (SEBI) for listing
    social enterprises and voluntary organizations working for the realization of a social welfare objective
    so that they can raise capital as equity, debt or as units like a mutual fund.
     The Government will examine suggestions of further opening up of FDI in aviation, media (animation,
    AVGC) and insurance sectors in consultation with all stakeholders.
     100% Foreign Direct Investment (FDI) will be permitted for insurance intermediaries.
     Local sourcing norms will be eased for FDI in Single Brand Retail sector.
     FPIs will be permitted to subscribe to listed debt securities issued by REITs and InvITs.
     Even though India is the world’s top remittance recipient, NRI investment in Indian capital markets is
    comparatively less. With a view to providing NRIs with seamless access to Indian equities, I propose to
    merge the NRI-Portfolio Investment Scheme Route with the Foreign Portfolio Investment Route.
     A Public Sector Enterprise viz. New Space India Limited (NSIL) has been incorporated as a new
    commercial arm of Department of Space to tap the benefits of the Research & Development carried
    out by ISRO.

    Research Team:
    Karvy Distribution, E-mail : karvy.distribution@karvy.com, Phone : 040 3321 7133

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