Union Budget Highlights 2019

Union Budget Highlights 2019


Several Goals has been set by the Current Government including the $5 Trillion Economy and the goal of improving Rural Living, Road and Infrastructure Services.

India, the 11th largest economy globally in the Financial year 2013-14 and now emerged as 6th Largest economy in the World. The Current Account Deficit (CAD) is 2.1 Percent of GDP in the year 2018-19. It was seen as 5.6 percent in the Financial year 2013-14.

FDI received in the last fiscal year were reported as $64.4 Billion. The current Fiscal deficit stated as 3.3 percent of GDP. Earlier it was 4.5 percent in the year 2013-14. There are proposals to improve Road and Air Traffic. Rs. 50 Lakh Crore funds have been allocated to improve Rail Infrastructure. It has been stated that the project cost for Rail Infra will be implemented from the year 2018 to 2030.

Through Public-Private Partnership, supporting for the Railways were also discussed. The Government has setup various schemes to promote MSME (Micro, Small and Medium Enterprises) with an amount of Rs. 350 Crore presently.

New TV Channel for Startups under DD Package and providing special training programs for Youth Development. Disinvestment of PSUs for the Financial year 2019-20, Rs. 1.05 Lakh Crore has been targeted. The Government has got a revenue of 21 paise from Corporate Tax on One Rupee Budget. 23 % share on Taxes and Duties by the States under Expenses.

100 Percent FDI in Insurance Intermediaries, Pension proposal for Retail Traders and small shop keepers and Supporting Private Entrepreneurs in Agriculture are some of the key things in Budget India 2019. Now, an individual can use Aadhaar instead of PAN for filing income tax returns - PAN and Aadhaar are Interchangeable.

NRI investments will be merged with FPI and Housing Finance Companies(HFC) will come under RBI Regulations. Eases the Angel Tax regulations and then FPI limit were increased to 24 Percent.

On the other side for the Equity market, the taxation things are not a favorable one. Public holding increased to 35 Percent in Listed companies, so the promoters holding were decreased to 65 percent from the earlier 75 Percent.

Corporate Tax of 25 % limit increased to Rs. 400 Cr from Rs. 250 Crore. Import Duty on Gold were also increased to 12.5 percent, which is 10 percent earlier. Additional Tax of Re. 1 per litre for Fuel (Petrol & Diesel) will be charged. Rs. 70,000 Crore capital infusion for PSU Banks and issuance of Overseas Bonds are the positive things for the Financial Sector.

20 % Tax on Buyback of Shares is a negative factor for the Investors. Additional Deduction of Rs. 1.5 Lakh on interest for Housing loans and Rs. 1.5 Lakh deduction on Electric Vehicle (EV) loans were also said in the Union Budget.

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