UNION BUDGET 2019: Government increases excise duty on petrol and diesel by Re 1 each | Read details inside

The Hush Post | 2:20 pm | Two-minute read

Union finance minister Nirmala Sitharaman introduced the union budget here today in the parliament. Presenting her first union budget, she started her speech with an Urdu couplet.

The highlights of the Union budget 2019 are given below.

UNION BUDGET 2019 HIGHLIGHTS

 

  • The government increases excise duty on petrol and diesel by Re 1 each
  • Income tax exemption for income up to Rs 5 lakh
  • Fiscal deficit in 2019 3.3 percent. Down by .1 percent from last year
  • Easily identifiable by visually challenged, a new series of coins of Rs 1, 2, 5, 10, 20 will be made available for public use shortly
  • 25 percent corporate tax will be applied to companies with up to Rs 400 crore of turnover
  • The government will set up a digital repository in order to preserve tribal heritage: FM
  • Relief of Rs 92,000 crore in GST rate reduction per year has been given in past: FM
  • Basic custom duty exemption on import of defense equipment, not manufactured in India: FM
  • 5% customs duty imposed on imported books: FM
  • PAN and Aadhar made interchangeable for filing IT returns
  • TDS of 2 percent on cash withdrawal of more than Rs 1 crore from a bank account
  • On loans for electronic vehicles, government to provide Rs 1.5 lakh tax return
  • Startups that provide details in returns will have no scrutiny in respect of valuation of share premium: FM
  • Proposal of additional tax deduction of Rs 1.50 lakh on interest paid on home loans taken up to March 2020
  • Public Sector Banks provided Rs 74,000 crore to boost credits
  • Investment of Rs 100 lakh crore on infrastructure in 5 years: Sitharaman
  • Aadhaar cards will be issued to non-resident Indians with Indian passports after arrival in India without waiting for 180 days
  • 35 crore LED bulbs distributed leading to cost saving of Rs 18,341 crore annually
  • NRIs could invest in India through FPI route: FM
  • Budget is focusing on ‘Gaon, Gareeb aur Kisan’: Sitharaman
  • Cooking gas, electricity for every rural household by 2022: Sitharaman
  • ‘Har ghar jal’, for rural homes: FM
  • India’s FDI flow grows 6% to $64.37 billion’
  • Social organizations to be allowed to raise capital via market
  • Several reforms for rental housing soon: FM

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