The Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman made her maiden Budget Speech today and presented the Union Budget 2019-20 before the Parliament. The key highlights of Union Budget 2019 are as follows:
10-point Vision for the decade
- Building Team India with Jan Bhagidari: Minimum Government Maximum Governance.
- Achieving green Mother Earthand Blue Skies through a pollution-free India.
- Making Digital India reach every sector of the economy.
- Launching Gaganyan, Chandrayan, other Space and Satellite programmes.
- Building physical and social infrastructure.
- Water, water management, clean rivers.
- Blue Economy.
- Self-sufficiency and export of food-grains, pulses, oilseeds, fruits and vegetables.
- Achieving a healthy society via Ayushman Bharat, well-nourished women & children, safety of citizens.
- Emphasis on MSMEs, Start-ups, defence manufacturing, automobiles, electronics, fabs and batteries, and medical devices under Make in India.
* MDR changes waived on cashless payment
* No charge on customers for digital payments
* Interest subvention for up to Rs 2.5 lakh on buying electric vehicle
* Good news for Apple: India to ease local sourcing norms for single brand retail
* Bharat Net, which is targeting internet connectivity in local bodies in every Panchayat, will be speeded under Universal Service Obligation Fund
* Electronic Fundraising Platform to be set up to list social enterprises and voluntary organizations working on social welfare objectives
* Improve skills of our youth in areas such as Artifical Intelligence, Big Data, Robotics etc
* An exclusive TV channel proposed for start ups; aim is to disseminate information in the industry
* FM: 80 Livelihood business incubators and 20 technology business incubators to be set up in 2019-20 under ASPIRE
* A National Education Policy with aim to transform the country’s higher education system
* New Space India Limited (NSIL) incorporated to tap benefits of ISRO
* Space research/satellite launches commerce to be streamlined via a new PSU
* FM proposes payment platform for MSMEs Way to $5 trillion economy: Heavy investment in infrastructure, digital economy and job creation
* Encourage faster adoption of electric vehicles by offering incentives and charging infra under FAME II scheme
* “One Nation, One Grid” for power availability to states at affordable rates
* National Common Mobility will enable people to pay transport charges across the country. The card runs on RuPay card and allows users to pay bus charges, parking fees and more.
PDF Documents for Full Details
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