Union Minister Piyush Goyal presented the interim budget 2019 in parliament on Friday and declared major relief for farmers and individual taxpayers. This was the final interim budget of the NDA Government directed by Prime Minister Narendra Modi before the Lok Sabha elections due by May. In the budget speech, Mr. Goyal recommended doubling the threshold tax exemption limit Rs. 5 lakh and augmented the standard deduction of Rs. 50,000 from Rs. 40,000. The scheme will benefit 3 crore, middle-class taxpayers, Mr. Goyal stated while revealing the Budget proposals for 2019-20. Mr. Goyal also declared the Pradhan Mantri Kisan Samman Nidhi for small and marginal farmers, providing Rs. 6,000 per year to be deposited directly into the bank accounts of farmers.
Revealing the development vision for the next decade, the government Friday stated it would spotlight on 10 key areas comprising employment creation, physical and social infrastructure generation, pollution-free country and clean rivers. Presenting the Budget 2019-20, Finance Minister Piyush Goyal laid out a vision for 10 most significant dimensions in 2030.
Interim Budget 2019- major visions for the next decades
Interim Finance Minister Piyush Goyal also presented 10 point vision that will direct the Government in the vision 2030, across 10 dimensions. Those 10 points visions have been mentioned below:
- Clean rivers- Safe drinking water to all Indians under Sagarmala scheme
- To build a Digital India that reaches every citizen, our youth will guide us in this, by generating innumerable startups and employment
- Clean and Green India – an India that drives electric vehicles, with renewables becoming a main source of energy, bringing down import reliance and improving energy security for our people.
- To build next-gen infrastructure – physical as well as social – for a 10 trillion dollar economy and to provide Ease of living.
- Expanding rural industrialization using modern industrial technologies, based on Make in India approach, using grassroots MSMEs and startups across the country.
- Oceans and coastlines are the sixth dimensions of our vision for 2030.
- India becomes the facilitator of the world, placing an Indian astronaut in space by 2022
- Healthy assurance under Ayushman Bharath Scheme
- Proactive & responsible bureaucracy.
- Production of food in an organic way
Besides these visions, the budget has been full of precedent achievements and upcoming visions. From the equity point of view, there will be more revenue in the hands of people which would guide to more expenditure and therefore resulting in profits for the financial system.