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- Piyush Goyal presents his maiden Budget.
- No Income Tax for income up to ₹5 lakh.
- Budget announces mega pension scheme for unorganised sector.
- Small farmers with land up to 2 hectares to get Rs. 6000 per annum.
- An AIIMS will be set up in Haryana.
- MP (Rajya Sabha) from Maharashtra
- Minister of Finance & Corporate Affairs
- Minister of Railways
- Minister of Coal (Independent Charge)
A 10-point vision for 2030 by Mr Goyal
- A next-gen infrastructure
- A Digital India
- A pollution free India that drives on electric vehicles
- Expanding rural industrialisation
- Clean Rivers with safe drinking water
- Developing the coastline and harnessing the blue economy
- Placing an Indian astronaut in space
- Making India self-sufficient in food, exporting food and organic farming
- Healthy India, distress-free healthcare and comprehensive wellness system
- Maximum Governance
New Schemes/Commissions Announced in Interim Budget
1. Pradhanmantri Kisan Samman Nidhi Yojna
- The government announced fixed yearly income for small and marginal farmers.
- This scheme will benefit about 12 crore farmers who have 2 Hectare land.
- Rupee 6000 per year direct cash transfer in their account.
- Cash transfer will be given in three equal instalments of Rs 2000 each.
- The benefit under this scheme will be given retrospectively from December 2018.
- Rs. 75000 crore allotted for this scheme.
- It is expected to double the farmers’ income.
2. Rashtriya Kamdhenu Aayog
- This commission will undertake the development work for Cow welfare.
3. Pradhan Mantri Shram Yogi Maan-dhan pension scheme
- Mega Pension Yojna. It is expected to be largest in World.
- For the unorganised sector and organised workers who earn up to Rs. 15000 monthly income.
- A fixed pension amount of Rs 3000 per month will be given after 60 years of age.
- They will have to pay a minimum contribution of Rs 55 starting from age of 18.
- Minimum premium means if 29 years old person enters into it, he will have to pay only Rs. 100 per month.
- Rs. 500 crore for this scheme.
- The government will contribute an equal amount.
4. Interest subvention scheme for Fisheries
- 2% interest subvention
- 3% extra interest subvention if all the instalments paid on time.
- The committee would implement policies and schemes for the welfare of cows.
- It aims to enhance the production and productivity of cows.
5. Income Tax Slab raised to Rs. 5 lakh
- Income tax slab raised from 2.5 lakh to 5 lakh rupees.
- It means the person who earns Rs 5 lakh per years will not have to pay any taxes.