Interim Budget 2019 for SSC | IB | RRB | IBPS | SBI and other Recruitment Exams

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Notable Announcements

  • 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.

Piyush Goyal

  • 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.

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