Highlights of Interim Budget 2019

*CAD seen at 2.5%

* Fiscal Deficit seen at 3.4% vs target 3.3%. Next year. target at 3.4%

* Expenditure Target at 27.84 lakh crores

* Capital Expenditure at 3.36 lakh crores

* Rs.38572 crs for Education

* Rs.76800 for Welfare of SC/ST

* Confident on reaching the target of Rs.80000 cr Disinvestments

* MNREGA allocation Rs.60000 crs

* Small Farmers ( less then 2 hectares land ) will get Rs.6000 p.a. as direct benefit from Centre. Which will benefit 12 cr small land farmers

* Defence Budget 3 lakh crores

* Sadak Yojna Rs.19000 crs

* Railways allocated Rs.64587cr

* Mobile Data usage has increases 50X in last 5 yrs

* Farmes welfare allocation Rs.20000 crs this year

* Single Window clearanc for Domestic film makers too

* GST collection increases from 89000 cr p.m. to 97100 cr p.m. in Jan 19 collection may cross 1 lac cr

Direct Tax

– Collection of Direct Tax at 12 lakh crores from 6.38 lakh crores in 2014

– IT filer increases from 3.79 crs in 2014 to 6.85 crs

Changes in Income Tax slabs
– Income Upto 5 lakh – NIL Tax

– Standard deduction increases from Rs.40000 to Rs.50000

– Up to Rs.40000 p.a. interest of post office and Bank no TDS

– House Rent Up to Rs.2.4 lac p.a. no TDS

– Capital Gain Exemption under sec 54 increases to 2 crs

– Income Tax on Unsold house notional Rent extension Up to 2 yrs

– No changes in 80C 1.5 lakh limit