Budget Impact

BUDGET ALLOCATION
  • SECTORS
  • 2019-20
  • 2018-19
  • 2017-18
  • Agriculture
  • 1,40,764
  • 57,600
  • 51,026
  • Railways
  • 66,769
  • 55,088
  • 55,000
  • Defence
  • 4,31,011
  • 4,04,365
  • 3,59,854
  • Infrastructure
  • 1,46,923
  • 1,27,812
  • 1,19,399
  • Education
  • 93,848
  • 85,010
  • 79,686
  • Health
  • 65,038
  • 53,506
  • 50,281
  • Social Sector
  • 2,15,212
  • 1,94,393
  • 1,79,836
All the above figures are in rupee crore, Source: HowIndialives.com
A file photo of former finance minister P. Chidambaram. (Hindustan Times)
Finance minister Piyush Goyal with his Cabinet colleagues outside the North Block on Friday (Ramesh Pathania/Mint)
Finance minister Piyush Goyal with his Cabinet colleagues outside the North Block on Friday (Ramesh Pathania/Mint)

Budget 2019: Voters have reason to cheer

  • Standard deduction limit increased to Rs. 50,000 from Rs. 40,000
  • Allocation for rural employment guarantee programme hiked to Rs. 60000 crore

Budget 2019 - Videos
 (iStock)
(iStock)

Will tax benefits announced in interim budget impact households significantly?

  • From tax sops to a mega pension scheme, the Budget has a lot for the middle-income group
  • The sops given to real estate will benefit households

Standard deduction increased from  ₹40,000 to  ₹50000.
Money
Economist and former member of the erstwhile Planning Commission Abhijit Sen (Photo: Priyanka Parashar/Mint)
Finance Minister Piyush Goyal presented his first budget
 (iStock)
(iStock)

Opinion | Budget for low income, middle class taxpayers

  • Reasonably good budget particularly for those with lower levels of income
  • The increase in the limit for TDS on bank interest will reduce the woes of senior citizens, persons with incomes below the taxable limit

Finance Minister Piyush Goyal presenting the Union Budget 2019 in Lok Sabha. (ANI)
Finance Minister Piyush Goyal presenting the Union Budget 2019 in Lok Sabha. (ANI)

The winners and losers from India’s interim budget

  • Income tax payers earning up to Rs. 5,00,000 will get a full tax rebate
  • Modi’s govt will breach its fiscal deficit target for a second year

 (iStock)
People whose taxable income, after all the deductions, is higher than  ₹5 lakh, the old tax rates will apply. 
 (Bloomberg)
This increase of  ₹10,000 will result in tax savings of  ₹3,120 for individuals in the highest tax bracket of 31.2%. (Mint)
Allocation towards defence has been reduced to 8 paise from 9 paise last year (Aniruddha Chowdhury/Mint)
Allocation towards defence has been reduced to 8 paise from 9 paise last year (Aniruddha Chowdhury/Mint)

For every rupee in govt kitty, 70 paise comes from taxes

  • The government intends to earn 8 paise from non-tax revenue like disinvestment.
  • Income tax mobilisation for the next fiscal has been increased to 17 paise.

Currently, income up to  ₹2.5 lakh is exempt from personal income tax. Photo: Pradeep Gaur/Mint
Union Minister Arun Jaitley.