You will get to save more tax in FY2019-20

• Even for other taxpayers with taxable income above Rs. 5 lakh, the tax outgo will reduce marginally in FY2019-20
• Here’s how much you stand to gain as compared to what you paid in taxes in FY2018-19

Never has an interim budget tinkered with tax rates: P. Chidambaram

• Interim budget 2019 shows the desperation of the NDA, says P. Chidambaram
• Chidambaram said the budget presented by the NDA govt violated both convention and the spirit of an interim budget

Proposed capex for oil PSUs at 4-year low

• The spending is less than this fiscal year’s outlay of ₹94,438 crore, while it was ₹1.32 trillion in the previous year
• The interim budget proposed a capital outlay of ₹93,639 crore for oil and gas companies for FY19-20 

Income Tax department may become more tech friendly from FY20

• The budget proposed to make filing of returns, assessment and refunds more friendly
•  All tax returns filed will be processed in 24 hours and the refund initiated simultaneously

Pre-election interim budget 2019 has something for everyone

• While those with taxable incomes up to ₹5 lakh will go away the happiest from the interim budget, there is a little bit of good news for everyone
• The increase in standard deduction to ₹50,000 for the salaried class will help individuals save more tax

Budget 2019: Big in sentiment, short in substance

• Over 12 crore farmers, over 3 crore salaried professionals and their families will gain
• This budget has, for now, shifted the focus away from the BJP-led NDA’s acts of omission and commission

This entire idea of direct cash transfer to farmers is stupid: Abhijit Sen

• If you want to give a cash benefit, do it without distinguishing between farmers and non-farmers
• A toothless NITI Aayog is trying to flex its muscles on India’s statistical system. And in doing so, it is destroying its credibility 

Opinion: Another surgical strike, this time it’s on opposition

• No govt has ever provided financial assistance to the unorganized labourers 

Opinion: Socio-economic issues focus area of Budget 2019

The absence of any incentive for healthcare sector has been a major disappointment

More tax benefits for the middle class

• Taxable income up to Rs. 5 lakh tax-free, standard deduction raised
• The budget proposes to increase standard deduction to Rs. 50,000 to bring down your tax liability

Good news for tenants, owners of multiple houses and depositors

• The budget proposes that if two of your properties are self-occupied, you don’t need to pay tax on either
• Currently, whether you own a single property or more than one, only one is considered self-occupied for residential purposes

Opinion | Finance minister serves the needy, but spares the rich

An encouraging proposal was processing of all tax returns online within 24 hours

Opinion | Piyush Goyal digs deep into the poll vault

A Rs. 75,000 crore substantial income support scheme for farmers one of the several key highlights of the budget

Entertainment industry welcomes move to curb piracy in budget

• The single-window clearance system was earlier available only to foreign filmmakers shooting in India
• The entertainment industry is a major employment generator and the move would help the filmmakers from all languages

Opinion: NDA govt’s final budget is a ‘political put option’

• This budget has a unique retrospective component for many policy announcements

Opinion | Budget gives starring role to Middle India, farmers

Full rebate on taxable income below Rs. 5 lakh. This means no tax if your taxable income is Rs. 5 lakh or less

Govt seeks Vote on Account for ₹34.17 lakh crore expenditure for April-July

• Finance Minister Piyush Goyal Friday pegged an aggregate gross expenditure for 2019-20 at over ₹97.43 lakh crore
• Vote on Account is a grant in advance by Parliament, in respect of the estimated expenditure for a part of new fiscal year

SC dismisses PIL seeking quashing of Feb 1 interim Budget

• Sharma in his PIL said there was provision for only a full annual Budget and a vote-on-account
• SC said it was not inclined to entertain the petition by lawyer Manohar Lal Sharma, filed in his personal capacity

Parliament passes Interim Budget 2019-20

• The Lok Sabha on Tuesday approved the interim budget for 2019-20
• Minister of state for finance Shiv Pratap Shukla moved the Appropriation Bills and the Finance Bill in the Rajya Sabha

Individuals with income up to ₹9.5 lakh to gain from tax rebate: Piyush Goyal

• Goyal says the decision to raise the rebate on annual income of ₹5 lakh was to provide greater certainty about tax liability
• Finance minister also says since it was the interim budget, the NDA could not bring many tax measures

Why India needs an independent fiscal council

• Countries with independent fiscal councils tend to produce relatively more accurate budget forecasts and stick better to fiscal rules, research suggests

• Historically, interim budgets in India have consistently overestimated revenue growth and underestimated expenditure growth

Income tax rates for 2019-20 after interim budget  

• In the next FY 2019-20, a tax rebate has been given to only those who fall in the Rs. 5 lakh income slab
• Together with the increase in the standard deduction, the total tax saving comes up to Rs. 13,520 for someone in the Rs. 5 lakh bracket

Rising revenue trend prompts govt to peg 18% rise in FY20 GST collections: Secy

• The central government plans to collect over ₹7.61 lakh crore in GST  next fiscal
• We have tried to make the system simpler, easier: Revenue Secretary

Budget proposals can put tractor, two-wheeler segments in the fast lane

• The impact of the interim Budget 2019-20 is positive, says ICRA Vice President 
• Rural markets account for a large proportion of motorcycles sales, specially for the entry level bikes

Opinion | An interim budget that seeks a potential electoral dividend

This election focused budget focuses on three important 'constituencies', the middle class, the land owning farmer and the rural power

Interim budget will support consumer spending, economic growth: USIBC

• USIBC applauds the interim budget released by the government
• 'We see many positive elements that will support consumer spending and economic growth,' says USIBC president

States asked to quickly identify small farmers for income support scheme: Niti

• Govt has already earmarked ₹20,000 crore for disbursement in the current fiscal
• The interim budget reflects the government's concern for small and marginal farmers, says Rajiv Kumar 

Health budget focuses only on Ayushman Bharat, other schemes ignored

• Total budget allocated to the health ministry for 2019-20 is Rs. 61,398.12 crore, a rise of 16.3% from the FY19 budget
• Ayushman Bharat’s budget increases by over 166% from Rs. 2,400 crore in 2018-19 to Rs. 6,400 crore

Tax benefits in budget makes it easier to own two houses

• At present, your second house is treated as one that you have rented out even if you have not
• In another benefit for house owners and one that will also help realtors, profits from sale of a property can be used to buy two houses to save on capital gains tax

Budget assumptions raise questions on fiscal maths

• Disinvestment targets ambitious, assumption of tax buoyancy unreasonable, say analysts
• Govt has set a disinvestment target of Rs. 90,000 crore in FY20, despite having realized only Rs. 35,533 crore so far