Budget proposals 2019 – Key Highlights:
– Patent registration rises
– In last 5 years, economy from 1.8 trillion USD reached to 2.7 trillion USD
– Building infra
Digital India
Make in India – MSME & startup’s
Export of food grains
– Minimum govt. max. governance
– India will become 3 trillion USD economy in current year itself
– 3rd largest economy in purchasing power terms
– Mudra yojna, electricity, woman upliftment
– digital economy and job creation for small and rural areas
– IFSCs – govt will prepare regulatory roadmap
– rs 10k cr – faster adoption of electric vehicle
– comprehensive restructuring of national highway
– Multi modal terminal in Varanasi operational from last Nov 18
– railway infra needed funding rs 50 lakh crore
– developing water grid, gas grid and regional airport
– rental housing to improve – model tenancy law is finalised
– Aircraft leasing scheme will be introduced
– pension scheme to retail traders and shopkeepers turnover upto 1.5 cr
– SEBI to raise current threshold of minimum public shareholding 25% to 35%
– Social stock exchange – listing of social enterprise and voluntary organisations
– to rationalise existing KYC norms for FPI
– 100% FDI permitted for Insurance intermediary
– Govt to organise global investors meet annually
– real estate investment trust
– New Space India Ltd. incorporated to carry out research with ISRO
– Zero Budget farming
– Adequate water security for drinking water – new ministry formed
– Solid waste management system to build
– BharatNet is started in rural areas
– large scale adoption of technology in construction of houses
– In process of creating dedicated freight corridor
– Greater focus on research in education- Setting up of National Research Foundation
– Online courses for disadvantage category
– World class institution- Rs 400 cr allotted
– Study in India programme will be launched
– Setting up of National Sports Education Board
– New age skills – AI, IoT, 3D printing, Big Data
– Streamlining of labor laws
– Starting of TV programme exclusively for start ups
– Railway stations mordenisation will be launched
– Govt will obtain patents for local artisans
– Govt to build 17 iconic tourism sites
Banking and Financial Sector
– NPA reduced; record recovery
– Govt to provide Public sector banks Rs 70k cr
– Amendment in Factoring Regulation Act, 2011
– Allotted 100 lakh crore for infrastructure financing
– Strategic divestment of CPSEs including Air India
– Strategic sale of PSUs
– New coin series of Rs. 1, 5, 10 & 20
Part B – Tax proposals
– Revenue increased by 78%
– Turnover threshold increased from 250 cr to 400 cr
– Section 35AD amendment
– electric vehicles interest loan deduction Rs. 1.5 lakhs
– Start up – No scrutiny of start ups
– Period of exemption is extended for investment section 54GB
– Gift city – IFSC – introduced section 80LA (income based exemption)
– Scheme of faceless assessment will be launched from this year
– PAN and Aadhar will be interchangeable
– introduced TDS 2% on cash withdrawals exceeding 1crore in a year
