New Delhi, Jan 1: BJP president Amit Shah on February 1 hailed the the Union Budget for "benefiting" all sections of society and said it has proved that the Modi government is dedicated to the aspirations of the country's youths, farmers and poor.
Shah told reporters that the budget will spur growth, generate employment and also provide relief to the middle class, farmers and poor workers among others.
The BJP chief described the hike in income tax exemption announced by Finance Minister Piyush Goyal as "historic" and said it will not only provide tax relief to the middle class but also deepen their participation in the country's development.
He highlighted various measures announced in the budget for different sections of society and said those for farmers will prove to be a "milestone" in doubling their income.
Congratulating the government for announcing a Rs 3 lakh crore outlay for the defence sector, Shah said it is the highest so far. The country's security has always been a top priority for the BJP-led NDA dispensation, he said.
Shah also praised measures like monthly pension of Rs 3000 for the over 10 crore poor workers after 60 years of age, creation of a separate fishery department and schemes for women.
Relaxation in interest on loan for farmers and more for those who pay their debt in time is a big step for their welfare, he said.
Highlights of Interim Budget for 2019-20:
1. Within 2 years, tax assessment will be done electronically
2. IT returns processing in just 24 hours
3. Minimum 14% revenue of GST to states by Central government
4. Custom duty abolished from 36 Capital Goods
5. Recommendations to GST Council for reducing GST rates for home buyers
6. Full rebate up to Rs 5 lakh annual income after all deductions
7. Standard deduction increased from Rs 40,000 to Rs 50,000
8. Exemption on tax on second self-occupied house
9. Ceiling Limit of TDS u/s 194A increased from Rs 10,000 to Rs 40,000 for women
10. Ceiling Limit of TDS u/s 194I increasedd from Rs 180,000 to Rs 240,000
11. Capital tax Benefit u/s 54 increased from investment in one residential house to two residential houses.
12. Benefit u/s 80IB increased to one more year i.e. 2020
13. Benefit given to unsold inventory increased from one year to two years
14. State share increased to 42%
15. PCA restriction abolished from 3 major banks
16. 2 lakh seats will increase for the reservation of 10%
17. Rs 60,000 crore for MGNREGA
18. Rs 1.7 lakh crore to ensure food for all
19. 22nd AIIMS to open in Haryana
20. Approval has to be given to PM Kisan Yojana
21. Rs 6,000 per annum to be given to every farmer having up to 2 hectare land. Applicable from September 2018. Amount will be transferred in 3 installments
22. National 'kamdhenu ayog' for cows. Rs 750 crore for National Gokul Mission
23. 2% interest subvention for farmers pursuing animal husbandry. Creation of separate department for fisheries.
24. 2% interest subvention for farmers affected by natural calamities and additional 3% interest subvention for timely payment.
25. free gratuity limit increased to Rs 20 lakh from Rs 10 lakh
26. Bonus will be applicable for workers earning Rs 21,000 monthly
27. Pradhan Mantri Shram Yogi Mandhan will provide assured monthly pension of Rs 3,000 with contribution of Rs 100 per month for workers in unorganized sector after 60 years of age.
28. Our government delivered 6 crore free LPG connections under Ujjawala scheme
29. 2% interest relief for MSME GST registered person
30. 26 weeks of Maternity Leave to empower the women
31. More than Rs 3 lakh crore for defence
32. One lakh digital villages in next 5 years
33. Single window for approval of Indian filmmakers.
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