The final analysis: Who got what from Goyal, and who missed out on what

THE ECONOMIC TIMES Fri, Feb 01, 2019 | 03:57 PM IST Budget Headlines

The final analysis: Who got what from Goyal, and who missed out on what Goyal showered tax sops for the middle class and announced an annual income support of Rs 6,000 for small farmers as he presented a please-all Budget on Friday. Devil in details: Only those with income up to Rs 5 lakh pay no tax Anyone with net taxable income above Rs 5 lakh will not be able to avail this tax benefit. The full text of Budget 2019 Speech by FM Piyush Goyal To promote entertainment industry - Single window clearance for ease of shooting films, available only to foreigners, is now going to be made available to Indian filmmakers as well. How today's budget gave little to the rich and a lot to the poor The bigger gainers are all individuals with net taxable income up to Rs 5 lakh who will not have to pay any tax as per Budget 2019 proposals. Key highlights: Modi's election budget explained in 10 easy points In a slew of mega announcements, the government announced tax sops for middle class, income scheme for farmers. At Rs 3 lakh crore, here comes India's largest-ever defence budget Goyal also annonced that Rs 35000 crores have been disbursed in previous years under One Rank One Pension. He also pointed out that a substantial hike in pay also allowances in high-risk areas has increased. Budget outlines govt's plan to create 1 lakh digital villages in 5 years Presenting the concept in the interim Budget, the finance minister said that the government has set an aim of buidling 1 lakh digital villages in the next 5 years. The move that may've just made your affordable home really affordable Affordable housing projects registered up to 2020 would have tax exempted under 80 I B. This one year exemption would benefit new projects. The big highlights: Who got what gift from Modi in election year In its final budget before this year's polls, Modi govt announced some mega sops for various categories. Today's budget, down to the minutest of details Goyal said it will benefit 12 crore farmers and will be implemented from this fiscal itself. Budget proposes to abolish tax on deemed rent from 2nd vacant house As per the current income tax laws, notional rent is payable if one has more than one self-occupied house. The budget that finally took note of India's forgotten workers Pradhan Mantri Shram Yogi Mandhan will give monthly pension of Rs 3000, with contribution of Rs 100 a month. Budget 2019: Fiscal deficit for FY20 pegged at 3.4% The fiscal deficit for the current fiscal has been revised upward to 3.4 per cent from the Budgeted target of 3.3 per cent. Govt notifies hike in its contribution to NPS to 14% just before Budget As in the case of subscribers in the private sector, the Government subscribers may also be allowed to choose any one of the pension funds including Private sector pension funds. Today was just a trailer for our post-poll main budget, says Modi "From middle class to labourers, farmers' to businessmen, manufacturing to MSME sector, everyone has been taken care of in this Interim Budget,"Modi said.

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