{"id":29509,"date":"2019-02-01T12:19:36","date_gmt":"2019-02-01T06:49:36","guid":{"rendered":"https:\/\/www.oliveboard.in\/blog\/?p=29509"},"modified":"2019-02-04T12:44:58","modified_gmt":"2019-02-04T07:14:58","slug":"budget-2019","status":"publish","type":"post","link":"https:\/\/www.oliveboard.in\/blog\/budget-2019\/","title":{"rendered":"Budget 2019 Key Highlights"},"content":{"rendered":"

Union Minister, Piyush Goyal presented the Interim Budget 2019 on behalf of Finance Minister, Arun Jaitley in Parliament today. Budget 2019 facts and figure will be extremely important for all the upcoming exams in 2019 such as \u00a0SBI PO<\/a><\/strong>\u00a0and Clerk,\u00a0IBPS PO<\/a><\/strong>\u00a0and\u00a0Clerk,\u00a0RBI Grade B\u00a0Officer<\/a><\/strong>\u00a0and\u00a0Assistant,\u00a0SSC CGL<\/a>,<\/strong>\u00a0SSC CHSL, SSC CPO, IBPS RRB PO<\/a>,<\/strong>\u00a0Railways RRB<\/a><\/strong>,\u00a0SEBI\u00a0<\/a><\/strong>and more. Check the key highlights of Budget 2019 and make notes for revision.<\/span><\/p>\n

Budget 2019: Key Highlights<\/strong><\/span><\/h2>\n

Economy<\/strong><\/span><\/h3>\n

Current account deficit (CAD) likely to be 2.5 per cent of GDP<\/span><\/p>\n

Fiscal deficit brought down to 3.4% in FY19.<\/span><\/p>\n

Inflation in December 2018 down to 2.19%<\/span><\/p>\n

Capital expenditure for FY20 set at Rs 3.36 lakh crore<\/span><\/p>\n

Expenditure target for FY20 set at Rs 27.84 lakh crore<\/span><\/p>\n

Oliveboard: Take a Free Mock Test for Bank and Government Exam<\/strong><\/a><\/span><\/p>\n

Tax<\/strong><\/span><\/h3>\n

Full tax rebate for Individual taxpayers with income upto Rs 5 lakh<\/span><\/p>\n

No Tax in making investment in provident funds and prescribed equities for People with gross income upto 6.5 lakh<\/span><\/p>\n

All income tax returns will now be processed in 24 hours and refunds will be issued simultaneously.\u00a0<\/span><\/p>\n

\n
Within next 2 years, all assessment of returns to be done electronically<\/span><\/div>\n<\/div>\n

TDS threshold on rental income raised from Rs. 1.8 lakh to Rs. 2.4 lakh<\/span><\/p>\n

TDS threshold on interest on bank,post office deposit raised to 40,000<\/span><\/p>\n

Standard deduction raised from Rs 40,000 to Rs 50,000<\/span><\/p>\n

No tax on notional rent on second self-occupied house<\/span><\/p>\n

Capital Gains\u00a0exemption under Section 54 will be\u00a0available\u00a0on\u00a0two house properties<\/span><\/p>\n

The\u00a0benefits under Sec 80 (i) BA being extended for one more year, for all housing projects approved till end of 2019-20.<\/span><\/p>\n

\n

GST<\/strong><\/span><\/h3>\n
Most items of daily use under 0-5% tax slab<\/span><\/div>\n
\n

Businesses with less than\u00a0\u20b9<\/span> 5 crore annual turnover, comprising over 90% of GST payers, will be allowed to return quarterly returns<\/span><\/p>\n<\/div>\n

\n

Mega Pension Scheme<\/strong><\/span><\/h3>\n

Government launches Mega Pension Scheme,\u00a0Pradhan Mantri Shram Yogi Mandhan<\/strong>,\u00a0for social security coverage of unorganised labour. The Unorganised labour will get\u00a0\u20b9<\/span>3,000 per month after the age of 60 Pensioners will have to contribute Rs 100 per month\u00a0and the Government will contribute equally in pension accounts under this scheme.<\/span><\/p>\n

\"SBI<\/a><\/p>\n

Farmers<\/strong><\/span><\/h3>\n
\n

Farmers severely affected by severe natural calamities to get 2 per cent interest subvention and additional 3 percent interest subvention if loans are repaid in time<\/span><\/p>\n

Two percent interest subsidy to be given to farmers involved in animal husbandry activities through Kisaan Credit Card scheme.<\/span><\/p>\n

Govt to create separate department of fisheries<\/span><\/p>\n

2% interest subvention for animal husbandry & fisheries farmers<\/span><\/p>\n

PM Kisan Samman Nidhi:\u00a0<\/strong>\u20b9<\/span>75,000 crore of\u00a0budgetary allocation.\u00a0Farmers owing 2 hectares land will get Rs 6,000 per year – to be transferred annually in three installments<\/span><\/p>\n

For<\/span>\u00a0Workers<\/span><\/strong><\/h3>\n

Employees’ State Insurance eligibility cover limit has been raised to \u20b9<\/span>21,000 per month from \u20b9<\/span>15,000 per month<\/span><\/p>\n

Workers who suffer grievous injuries will receive \u20b9<\/span>6 lakh from \u20b9<\/span> 2.5 lakh through Employee Provident Fund Organisation (EPFO)<\/span><\/p>\n

Gratuity limit increased from \u20b9<\/span>10 lakh to \u20b9\u00a0<\/span>30 lakh<\/span><\/p>\n

MNREGA<\/strong><\/span><\/h3>\n

\u20b9<\/span>60,000 crore allocated to MNREGA<\/span><\/p>\n

MSME <\/strong><\/span><\/h3>\n

GST registered MSME units to get 2 per cent interest subvention on loan of Rs 1 crore<\/span><\/p>\n

Oliveboard: Take a Free Mock Test for Bank and Government Exam<\/strong><\/a><\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n

Education
\n<\/strong><\/span><\/h3>\n

\u20b9<\/span>38,572 crore allocated for the National Education Mission<\/span><\/p>\n

Society<\/strong><\/span><\/h3>\n

Rs 76,800 crore allocated for welfare of Scheduled Castes (SCs) and Scheduled Tribes (STs)<\/span><\/p>\n

Centre will implement special strategy for uplift of nomadic\u00a0tribes<\/span><\/p>\n

1 lakh digital villages to be set up soon<\/span><\/p>\n

Allocation for North Eastern states increases to 21%,\u00a0amounting to Rs 58,166 crores.<\/span><\/p>\n

Sanction of 15.56 lakh loans amounting Rs 7.23 lakh crore under the Mudra scheme.<\/span><\/p>\n

Economically weak given 10% quota<\/span><\/p>\n

Oliveboard: Take a Free Mock Test for Bank and Government Exam<\/strong><\/a><\/span><\/p>\n

Pradhan Mantri Gram Sadak Yojana<\/strong><\/span><\/h3>\n
\n
\u20b9<\/span>19000 crore allocated for Gram Sadak Yojana
\n<\/span><\/div>\n

Railways
\n<\/strong><\/span><\/h3>\n

Capital expenditure raised to Rs 64,586 crore in FY20 from Rs 53,060 crore in FY19<\/span><\/p>\n

Defence<\/span><\/strong><\/h3>\n

Defence Budget increases\u00a0to over\u00a0Rs 3 lakh\u00a0crore for the\u00a0financial year\u00a02019-20<\/span><\/p>\n<\/div>\n

\n

Rashtriya Gokul Yojana for protection of cows<\/strong><\/span><\/h3>\n

\u20b9<\/span>750 crore allocated under Rashtriya Gokul Yojana for protection of cows. <\/span><\/p>\n

‘Rashtriya Kamdhenu Aayog<\/strong>‘ to be set up for implementation of policies and schemes for welfare of cows.\u00a0<\/span><\/p>\n

PM\u00a0Ujjwala Yojana<\/strong><\/span><\/h3>\n

Total of 8 crore LPG connection to be distributed by next year<\/span><\/p>\n

\n

Medical<\/strong><\/p>\n<\/div>\n

Another\u00a0All India Institutes of Medical Sciences (AIIMS) to be set up in Haryana (this would be the 22nd AIIMS in the country)<\/span><\/p>\n

Oliveboard: Take a Free Mock Test for Bank and Government Exam<\/strong><\/a><\/span><\/p>\n

\n

For Filmmakers<\/strong><\/span><\/h3>\n

Single window clearance to be made available for film-makers to ease shooting of films.\u00a0In order to combat film piracy,\u00a0Anti-camcording provision to be introduced to Cinematography Act.<\/span><\/p>\n

Artificial Intelligence<\/strong><\/span><\/h3>\n

National Centre for Artificial Intelligence under consideration. National\u00a0AI portal to\u00a0be developed soon.<\/span><\/p>\n<\/div>\n<\/div>\n

Stay tuned for more updates!<\/em><\/span><\/p>\n

Oliveboard RRB JE Mock Test \u2013 Click Here, Use Code\u00a0RRB50\u00a0to get 50% discount<\/a><\/strong><\/span><\/p>\n

\"RRB<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Union Minister, Piyush Goyal presented the Interim Budget 2019 on behalf of Finance Minister, Arun Jaitley in Parliament today. Budget<\/p>\n","protected":false},"author":60,"featured_media":29621,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,31,62,5221,5204,555,9858,5217],"tags":[10013,10167,10166],"class_list":["post-29509","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","category-bank-exams","category-government-exams","category-homepage-featured","category-insurance-exams","category-railways-rrb","category-railway-rrb-je","category-ssc-prep","tag-budget-2019","tag-budget-2019-highlights","tag-union-budget-2019-20","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50"],"yoast_head":"\nBudget 2019 Key Highlights | Budget 2019-2020 - Oliveboard<\/title>\n<meta name=\"description\" content=\"Union Minister Piyush Goyal presents the Union Budget 2019-20 in Parliament. 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Budget 2019 facts and\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.oliveboard.in\/blog\/budget-2019\/\" \/>\n<meta property=\"og:site_name\" content=\"Oliveboard\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Oliveboard\" \/>\n<meta property=\"article:published_time\" content=\"2019-02-01T06:49:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-02-04T07:14:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2019\/02\/budget-2019-20.png\" \/>\n\t<meta property=\"og:image:width\" content=\"730\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Tripti Mishra\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Oliveboard\" \/>\n<meta name=\"twitter:site\" content=\"@Oliveboard\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tripti Mishra\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/www.oliveboard.in\/blog\/budget-2019\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.oliveboard.in\/blog\/budget-2019\/\"},\"author\":{\"name\":\"Tripti Mishra\",\"@id\":\"https:\/\/www.oliveboard.in\/blog\/#\/schema\/person\/d85e63b0781e1a55771b9894184814a5\"},\"headline\":\"Budget 2019 Key Highlights\",\"datePublished\":\"2019-02-01T06:49:36+00:00\",\"dateModified\":\"2019-02-04T07:14:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.oliveboard.in\/blog\/budget-2019\/\"},\"wordCount\":761,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.oliveboard.in\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.oliveboard.in\/blog\/budget-2019\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2019\/02\/budget-2019-20.png\",\"keywords\":[\"Budget 2019\",\"budget 2019 highlights\",\"union budget 2019-20\"],\"articleSection\":[\"Articles\",\"Bank Exams\",\"Government Exams\",\"Homepage Featured\",\"Insurance\",\"Railways\",\"RRB JE\",\"SSC\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.oliveboard.in\/blog\/budget-2019\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.oliveboard.in\/blog\/budget-2019\/\",\"url\":\"https:\/\/www.oliveboard.in\/blog\/budget-2019\/\",\"name\":\"Budget 2019 Key Highlights | Budget 2019-2020 - Oliveboard\",\"isPartOf\":{\"@id\":\"https:\/\/www.oliveboard.in\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.oliveboard.in\/blog\/budget-2019\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.oliveboard.in\/blog\/budget-2019\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2019\/02\/budget-2019-20.png\",\"datePublished\":\"2019-02-01T06:49:36+00:00\",\"dateModified\":\"2019-02-04T07:14:58+00:00\",\"description\":\"Union Minister Piyush Goyal presents the Union Budget 2019-20 in Parliament. 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