Union Budget 2019-20 Highlights:- Union Finance Minister Nirmala Sitharaman presented her maiden budget of NDA Government today in Lok Sabha. Here are the highlights of the presented Union budget for 2019-20:
Aadhaar can be used to file IT returns now. Aadhaar and PAN will become interchangeable now.
Rs 5 lakhs is the minimum limit for taxpayers. The tax rate will be moved to 3% and 7% respectively for all those who are earning between Rs 2-5 crores and over the bracket of Rs 5 crores.
GST rate on electric vehicles is lowered to 5%.
Additional Rs 1.5 lakh income tax deduction on interest on loans taken to purchase the electric vehicles.
Aadhaar cards will be issued to NRIs holding Indian passports without any waiting period.
Excise duty on fuel hiked by a rupee.
Rs 20 coin will be released soon.
TDS of 2% on cash withdrawals exceeding ₹1 crore in a year from bank accounts.
Rs 70000 crores will be given for recapitalization for public sector banks.
Rs 1.05 lakh crores is the disinvestment target of the year.
A new tv channel will be launched to promote startups.
Rs 50 lakh crores for Railway infrastructure.
Every single rural family will have electricity and cooking facility in their households by 2022.
Under PM Karam Yogi Maan Dhan , the pension benefit will be extended to Rs 3 crores retail traders.
Rs 1 crore worth loans proposed to MSMEs.
Minimum public shareholding in listed companies can be increased from 25% to 35%.
A series of global investor meets will happen in the country.
(Video Source: NTV Telugu)