Thursday, 31 January 2019


Union minister Piyush Goyal is reading out the contents of the Budget 2019 in parliament. This is the last Interim Budget of the NDA government led by Prime Minister Narendra Modi before the Lok Sabha elections due by May. With the Lok Sabha election just months away, the government kept the budget focussed on immediate relief such as easing income tax rules, favourable loan terms for small businesses, farm loan waiver and even direct cash transfers to farmers who are under debt. The government said it will send Rs. 6,000 to small farmers directly into their bank accounts in a scheme that will be funded 100 per cent by the centre. The programme will cost Rs. 75,000 crore. Piyush Goyal's turn to reveal the contents of the Union Budget briefcase in the crucial national election year came after Finance Minister Arun Jaitley had to go on leave and fly to the US for treatment. Yesterday, the government said its estimate of Gross Domestic Product (GDP) growth for fiscal 2018 was 7.2 per cent, significantly higher than 6.7 per cent earlier. The Railway Budget for 2019 will also be presented today.
Union Budget 2019: Defence Budget
"For the first time, the defence Budget has been raised to over Rs. 3 lakh crore," Piyush Goyal said. "Our soldiers who protect our borders are the pride and honour of the nation. In our election manifesto we promised one rank, one pension. We have resolved this and disbursed over Rs. 35,000 crore in the last few years for our jawans."
Union Budget 2019: Free Gas Connection For The Poor
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"To ensure cleaner fuel and health assurance, we embarked on PM Ujjwala Yojana, a programme to give eight crore free LPG connections to rural households, six crore connections given already," Piyish Goyal said.
Union Budget 2019: Employment
"EPFO shows two crore accounts in two years. This shows formalisation of the economy. When there is such a high growth, jobs are created," Piyush Goyal said. Gratuity limit has been increased from Rs. 10 lakh to Rs. 30 lakh. Pension scheme for unorganised sector workers with monthly income up to Rs. 15,000 will be given. Assured monthly pension of Rs. 3,000 after they retire on reaching 60," he said.
Union Budget 2019: Programme For Cow Protection
Radhtriya Kamdhenu Aayog to be set up for cows. "The government will never step back from protection of the gau mata," Piyush Goyal said. A 2 per cent interest subvention for animal husbandry, fisheries and farmers have been announced.
Union Budget 2019: Rs. 6,000 For Small Farmers Directly Into Their Accounts
"The government has made a historic plan called the PM Kishan programme. Those small farmers who have less than two hectares will get a support of Rs. 6,000," Piyush Goyal. "It will be transferred directly to the bank accounts of farmers in three instalments of Rs. 2,000."
11:22 (IST)
"In 2014, 2.5 crore families were without electricity, living in the 18th century. We have brought electricity to all villages," Piyush Goyal said. "We have also brought the world's largest medical insurance programme, Ayushman Bharat. So far 10 lakh people have got help."
Union Budget 2019: Piyush Goyal On RBI
"We told RBI to evaluate all banks and out their actual state in front of the nation. Because of our efforts, restrictions have been lifted on three banks. We ran a corruption-free government," Piyush Goyal said
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