Not much time is left for the Lok Sabha Elections 2019, the political scenario is heating up. Piyush Goyal, yesterday, presented the 2019 interim budget and it certainly created a huge sensation across the nation. The major declarations revolved around the benefits for farmers, middle-class personals and unorganised workers. Let’s take a look into the budget headlines to get a deeper insight:
One of the major announcement was done in favour of farmers. The government has set an ultimate yearly budget of Rs. 75000 crore to lay major support for farmer’s income. Followed with this, those farmers possessing a land less than 2 hectares, will be allocated Rs. 6000 yearly, direct into their accounts. Such support was all needed on the farmer’s front. Another segment which has received exceptional benefits are the ones who are unorganised workers. The government, under Mega Pension Yojana, will provide the pension amounting to Rs. 3000 monthly, for the unorganized workers aged 60 years and above, however there is a corollary to it of workers having to deposit Rs 100, till a certain agen to avail the same. Likewise, there has been a significant upsurge in the pension rates for labours. The new rates are Rs. 7000 compared to that of previously Rs. 3500.
How can we forget the delightful announcement for the middle-class segment? According to the interim budget, those with income up to Rs. 5 Lakh, will not be required to pay tax. Further, there has been a deduction for those holding income for more than 10 Lakhs. Similarly, the government has raised gratuity limit up to Rs. 30 Lakh. Also, there’s good news for those paying home rents – the government has increased tax rebates on the same.
Apart from this, the government has done wonders by announcing the highest defence budget of Rs. 3 Lakh crore. Such a move towards forces has certainly touched our hearts to a great extent. Not only this, the government has launched an initiative for the welfare of cows. The sum of over Rs. 750 Crores will be spent on the welfare under Rashtriya Gokul Mission. Another benefit, which rural areas will receive revolves around the road construction. The roads in rural areas will be well constructed and that the budget provided by the government is Rs. 19000 crores.
We are already excited with such a wonderful interim budget. Prime Minister Narendra Modi has played a game changer, which has shaken the opposition to the core.
Who knows – if it’s going to be Namo all over again in 2019!