Union Budget 2019 Highlights – Budget 2019-20 Key Points

By | February 1, 2019

Union Budget 2019 Highlights – Dear Readers, here we are providing Union Budget 2019 Highlights Pdf, Union Budget 2019-20 Key Features, Union Budget 2019-20 Key Points, which will be asked for 2 or 3 marks in all competitive exams. You can also download Union Budget 2019 Highlights from the link given below.

Union Budget 2019 Official website: http://indiabudget.nic.in

Union Budget 2019 Highlights Pdf

The Union Budget 2019 is all set to be proposed on February 1, 2019. Finance minister Piyush Goyal presented the Union Budget 2019-20 on 1 February 2019.

  • Under the ‘Pradhan Mantri Kisan Samman Nidhi’, the government will transfer Rs 6,000 per annum for each small and marginal farmers. The money will be transferred in three installments and will be sent to farmers’ bank accounts. A sum of Rs 75,000 crore has been allocated for the scheme.
  • People having annual earnings upto Rs 5 lakh, will be exempted from paying Income Tax, while people with gross income up to Rs 6.5 lakh will not need to pay any tax if they make investments in provident funds and prescribed equities.
  • Standard tax deduction for salaried persons raised from Rs 40,000 to Rs 50,000
  • TDS threshold on interest on bank and post office deposits raised from 10,000 to 40,000 rupees
  • Rs 35,000 crore has been disbursed for soldiers under ‘One Rank One Pension’.
  • Contribution to new pension scheme has been increased to 14 per cent from 4 per cent.
  • Gratuity limit has been increased from Rs 10 lakh to Rs 30 lakh.
  • Workers in unorganized sector will get a monthly pension of 3000 rupees per month after 60 years of age.
  • The direct tax collections increased to Rs 12 lakh crore from Rs 6.38 lakh crore.
  • The government allocated a sum of Rs.64,587 crore for Railways in 2019-20.
  • Under Pradhan Mantri Gram Sadak Yojana (PMGSY), An amount of Rs 19,000 crore has been allocated for 2019-20.

Income tax slab Rates 2019-20

Key to Budget Documents

Budget at a Glance

Union Budget 2019 Highlights Download

Union Budget 2019 Highlights updated on February 1, 2019.

Union Budget of India 2019

The Budget documents presented to Parliament comprise, besides the Finance Minister’s Budget Speech, of the following:

  1. Annual Financial Statement (AFS)
  2. Demand for Grants (DG)
  3. Appropriation Bill
  4. Finance Bill
  5. Macro-economic framework for the relevant financial year
  6. Medium Term Fiscal Policy cum Fiscal Policy Strategy Statement for the financial year
  7. Expenditure Profile
  8. Expenditure Budget
  9. Receipts Budget
  10. Budget at a glance
  11. Implementation of Budget Announcements

The documents shown from Serial A, B, C and D are mandated by Art. 112, 113, 114(3) and 110(a) of the Constitution of India respectively while the documents at Serial F, G and H are presented as per the provisions of the Fiscal Responsibility and Budget Management Act 2003. Other documents are in the nature of explanatory statements supporting the mandated documents with narrative or other content in a user friendly format suited for quick or contextual references. Hindi version of all these documents is also presented to Parliament.

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