The Interim Budget for 2019, presented by the then Finance Minister Piyush Goyal, was notable for several key announcements that aimed to address various sectors of the Indian economy. One of the central focuses was on providing relief to the middle class and farmers.
In a significant move, the government announced a full tax rebate for individuals with an annual income of up to ₹5 lakh. This decision was aimed at reducing the tax burden on the middle class, providing them with additional disposable income. Additionally, the standard deduction for salaried individuals was increased from ₹40,000 to ₹50,000, further benefiting the middle-income group.
SOURCE:- INDIA TODAY
To address the concerns of farmers, the Interim Budget introduced the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme. Under this initiative, small and marginal farmers were promised direct income support of ₹6,000 per year, with the amount being transferred in three equal instalments. This move was aimed at providing financial assistance to farmers and supporting them during times of economic distress.
SOURCE:- BBC NEWS
The budget also outlined a mega pension scheme for workers in the unorganized sector – the Pradhan Mantri Shram Yogi Maandhan. This scheme targeted workers with a monthly income up to ₹15,000, providing them with a fixed monthly pension after the age of 60. It aimed to ensure financial security for workers in the informal sector.
In the healthcare sector, the government announced the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY), which is often referred to as Modicare. This ambitious health insurance scheme aimed to cover over 10 crore vulnerable families, providing them with financial protection against healthcare expenses.
Infrastructure development was also a key focus, with the budget allocating significant funds for the construction of roads, railways, and other key infrastructure projects. This was in line with the government’s broader vision to enhance connectivity and boost economic development across the country.
the Interim Budget of 2019 made substantial announcements to address the concerns of the middle class, farmers, and workers in the unorganized sector. It reflected the government’s efforts to boost economic growth, provide social security, and enhance infrastructure to propel India towards a more prosperous future.
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