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Budget 2019 highlights: Standard deduction to be raised, no tax on second house


  • Fiscal deficit for 2018/19 seen at 3.4% of GDP
  • Poor farmers to get 6,000 per year under PM Kisan scheme  
  • Unorganised labour to get 3,000 per month after age of 60 under mega pension scheme 
  • No income tax for income up to 5,00,000
  • Standard deduction to be raised from 40,000 to 50,000

1
All farmers affected by natural disasters to get 2% interest subvention upfront for entire loan period 
2
Current account deficit for 2018/19 seen at 2.5% of GDP
3
Farmers up to 2 hectare of land to come under PM Kisan scheme 
4
Government launches mega pension scheme for social security coverage of unorganised labour 
5
Fiscal deficit for 2018/19 seen at 3.4% of GDP
6
Recovered 3 lakh crore via bankruptcy code
7
Bank of India, Bank of Maharashtra and Oriental Bank no more under RBI's prompt corrective action  
8
Poor farmers to get 6,000 per year under PM Kisan scheme 
9
PM Kisan to transfer cash directly to farmers under PM Kisan scheme 
10
Poor farmers to get cash in three equal installments under PM Kisan scheme  
11
PM Kisan scheme for poor farmers to cost government75,000 crore FY20
12
PM Kisan scheme for poor farmers to get 20,000 crore in FY19 
13
PM Kisan scheme to transfer cash directly to farmers' accounts 
14
PM Kisan scheme to start transfer of cash with effect from December 2018
15
Government announces Rashriya Gokul Mission to support poor owning cows  
16
Rashriya Gokul Mission cow scheme to get 750 crore in the current year
17
Central government to alone support PM Kisan scheme 
18
All farmers affected by natural disasters to get 2-5% interest subvention 
19
Gratuity cap doubled to 20 lakh
20
Government to contribute equally in pension accounts under mega pension scheme 
21
Unorganised labour to get 3,000 per month after age of 60 under mega pension scheme 
22
Government to implement mega pension scheme for unorganised labour from this year itself 
23
Mega pension scheme is for people with income up to15,000 per month
24
PM mega pension scheme to benefit 10 crore people 
25
Total of 8 crore cooking gas cylinders to be distributed by next year under PM Ujwala Yojna 
26
Government to contribute 14% under New Pension Scheme 
27
India is the second biggest hub for start-ups
28
A National Programme for Artificial Intelligence covering 9 areas to be promoted 
29
Government projects to source 25% material from SMEs, 3% from only women-owned SMEs
30
GEM platform to cover all public sector enterprises to promote local industry, trade 
31
SME loans with ticket size of 1 crore to get 2% interest subvention 
32
Defence Budget crosses 3 lakh crore mark in FY20 Budget
33
Budgetary support for railways for FY20 is 64,587 crore 
34
Railways' operating ratio seen at 96.2% in FY19, 95% in FY20 
35
North-east states to get 21% higher budget allocation at58,166 crore in FY20
36
Will set up 1 lakh digital villages in next 5 years 
37
JAN Dhan, Aadhar and mobile have been game changers 
38
34 crore Jan Dhan bank accounts opened in last 5 years 
39
Single window clearance to be made available to Indian film makers 
40
TV: Railways FY20 capex seen at 1.58 lakh crore 
41
Direct tax collections estimated at 12 lakh crore in FY19
42
Poised to become a $5 trillion economy in 5 years
43
Aspire to become a $10 trillion economy in 8 years 
44
1.3 lakh crore undisclosed income brought under tax net
45
3,38,000 shell companies detected and their directors disqualified
46
Average GST collection 97,100 crore 
47
Government lays out 10-year roadmap to improve ease of living 
48
Making India a pollution-free India in 10-year roadmap 
49
To lead world in transport and energy storage devices
50
To bring down dependent on imports for energy needs 
51
Roadmap envisions people traveling in electric cars 
52
Tenth dimension of government's India 2030 vision is a healthy governance 
53
Fiscal deficit pegged at 3.4% of GDP for FY20
54
Fifth dimension of government's India 2030 vision is clean rivers 
55
Government to scale up Sagarmala programme 
56
Seventh dimension of India 2030 is to lead in space programmes
57
Eighth dimension of India 2030 is to grow food in environment friendly manner
58
Ninth dimension of India 2030 is a healthy India 
59
Tenth dimension of India 2030 programme is a comprehensive wellness system 
60
FY20 total expenditure seen at 27.84 trillion rupees 
61
FY20 capital expenditure seen at 3,36,292 crore 
62
Central schemes to get 3,27,679 crore FY20
63
National education mission to get 38,572 crore FY20
64
Integrated child development scheme to get 27,584 crore FY20
65
SC, ST welfare to get 76,800 crore FY20
66
Salary earners, pensioners to get tax benefit 
67
Salary earners up to 5,00,000 annual income to get full tax rebate 
68
No income tax for income up to 5,00,000
69
Salary earners of up to 6,50,000 income to not pay tax if they make tax related investments
70
Standard deduction to be raised from 40,000 to 50,000
71
No tax if you own second house 
72
No TDS on post office savings up to 40,000
73
No TDS on rental income up to 2,40,000 per year 
74
No tax on notional rent on second house 
75
Capital gains tax exemption under Section 54 raised to2 crore 
76
Tax on notional rent on unsold inventory to not be paid for 2 years 

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