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  Canada Immigration Forum > General > Our Native Country! > INDIAN, UNION BUDGET 2019 AT A GLANCE...
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Modi Government's 5th Budget is indeed historical one and viewed with history of massive and dynamic changes made in previous five years and continues India's run up and every Indian's march towards Growth & Development. A few highlights to mention here of this Interim Budget are :

1. 12 cr, individual small farmers to get cash allowances of Rs. 6000/- per year the total of which is estimated at Rs. 75000 crs. every year over and above all of the other benefits and a higher guaranteed Crop Rates for their products.

2. A Monthly pension of Rs. 3000/- to seniors after 60 years of age by contributing only Rs. 100/- per month under Pension Scheme for unorganized sector workers .

3. A Total estimated Budget expenditure at Rs. 24.57 lakh crs.

4. And the Defence spending which exceeds Rs. 3 lakh crs.

5. The Tax revenue is currently estimated at Rs. 17 lakh crs up from Rs. 14.80 lakh crs.

6. What prevailed in 2014 as inflation which was at 10%, is now at 2.15% and the Fiscal Deficit is down from 6% to 3.4% attracting Foreign Direct Investment (FDI) at record high and is currently in the amounts of US$ 240 bn over last 5 years.

7. The MNREGA allocation is at Rs. 60,000 crs .

8. Deserving women, Two crore additional LPG connections to poor women totaling to Eight crore connections in the next 5 years.

9. Loans given for Self employment is encouraged by disbursing Rs. 723,000 crs to 15.56 crs aspirants under Mudra Loans Scheme.

10. A proposal to support Indian Citizens & Foreign Citizens of Indian Origin across the World to be supported in case of need.

11. The Indian Highway construction progressed at 27 kms per day . Road construction project was allocated Rs. 19,000 crs.

11. Also, Since independence, the internal water ways being operated for the first time there within India, Indian Railways got Rs. 64,500 crs and their total Capital expenditure was Rs. 150,000 crs.

12. North Eastern Areas there in India are to get Rs. 58,000 crs for infrastructure development and improvements.

13. A sum of Rs. 38,572/- is allocated for education and Rs. 76,800/- for welfare of SC / ST, group.

14. For Tax Filers, No Income Tax up to Rs. 5 lakhs including exemptions and deductions no tax up to Rs. 6.5 to Rs. 7 lakhs.

15. For owners, Presently only one self occupied house notional rent is exempt now notional rent of two self occupied houses exempt.

16. For Investors, One time exemption for reinvestment of capital gains up Rs. 2 crs from Residential Property if reinvested in two houses.

17. Fot Tax Filers, Within 2 years tax returns to be processed within 24 hrs. and verification to be done without trace of Tax Payers identity being revealed to the Tax Officer.

18. For Small Depositors, No Tax Deduction at Source (TDS) for Bank interest up to Rs. 40,000/- and on rent up to Rs. 240,000/-.

This is such a great change for the Modi Sarkar and has such a great news for Farmers ; The Rural & Urban Poor ; The Middle Class and benefits are of huge infrastructure for every citizens of India.

This 2019 Budget creates huge cash surplus by way of cash benefits and tax savings totaling to more than Rs. 1 lakh crore for Rural and Urban Poor & Middle Class. These savings coupled with huge infrastructure spending of Government & Private Sector will further boost the Economic Growth and enhance Government tax collection and individuals income resources. Happy days are indeed here again and as they say " Acche Din Abhi aa gaye hai ".




THE EMERGING MARKET ECONOMY AND ESPECIALLY THE INDIAN ECONOMY WHICH HAS A GREAT INTERNAL SUSTAINING GROWTH WILL MOVE EXTREMELY FAST and move ahead of all of the EUROPEAN Economy and will stand close to Germany's in the next few years and is worth watching and stands safe in the INVESTMENTS if this trend continues and merits a second look for risk takers and residing there in INDIA,

ENJOY the update.


Last edited by: Full House on 04-02-19 09:38:31
Full House

Senior Desi
Member since: Oct 12
Posts: 2666

Post ID: 237505 01-02-19 11:18:25
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