The 2019 Interim Union Budget of India was presented by acting Finance Minister Piyush Goyal on 1 February 2019.[3] The government introduced Pradhan Mantri Kisan Samman Nidhi and Pradhan Mantri Shram Yogi Mandhan.
Highlights
In the budget, the fiscal deficit for 2019–20 will be 3.94% of GDP. The budget set aside ₹6,000 (US$72) for farmers having up to 2 hectares of land. The amount is available in 3 equal installments of Rs.2000 each under Pradhan Mantri Kisan Samman Nidhi. ₹3,000 (US$36) per month pension after 60 years of age to unorganized sector labor under Pradhan Mantri Shram Yogi Mandhan. Subscribers have to pay a monthly amount of Rs.100 if aged 29 years and Rs.55 if a subscriber is of 18 years of age. Income tax relief u/s 87A for income up to ₹500,000 (US$6,000). Standard deduction of ₹50,000 (US$600) for salaried class.[4]
In the 2018 Budget, the outlay was revised for six key social schemes focused on enhancing the welfare of farmers and the poor, in addition to announcing a new scheme aimed at direct cash transfers to farmers. Apart from that, allocation across three other schemes focused on rural India have been raised.[5]
