The interim budget was filed in Parliament today. As Arun Jaitley was hospitalized, the Union Minister Piyush Goyal filed the budget. The Interim Budget speech lasted for 2 hours and many commented that it has many special features.
Highlights of the Interim Budget for 2019:
- Personal income tax ceiling has been raised from 2.5 lakhs to 5 lakhs. This will benefit over 3 crore middle classes.
- People who have an annual income of Rs. 6.5 lakhs don't need to pay income taxes if they invest Rs. 1.5 lakhs in certain savings schemes.
- The relief fund provided for the PF subscribers was increased to 6 lakhs.
- Rs 65,000 crore allocated for the railway sector.
- The farmers will be provided subsidized bank transfer of Rs 6,000 per year to the poor farmers under the Samman Nidhi scheme.
- A separate sector will be created for the benefit of the fishermen.
- In the livestock and aquaculture sector, those who pay the loan amount in the required time will get 3% offer.
- Achieved nil unmanned railway crossings in Broad gauge railroads.
- Rs.50 crore allocated for cow protection.
- For the workers, a minimum of Rs.1000 pension amount will be provided.
- For the army, over Rs 3 lakh crore allocated.
- Women's maternity leave for increased to 26 weeks.
- In India, the absence of 'home without electricity' will be formed by March.
In the end, the Piyush Goyal said that this is not an interim budget, it is a budget for success travel.