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Budget 2019: India unveils interim budget aimed at tackling rural distress

Highlights of interim Finance Minister Piyush Goyal's budget for the 2019/20 fiscal year beginning April 1.

twitter-logo Reuters        Last Updated: February 1, 2019  | 12:29 IST
Budget 2019: India unveils interim budget aimed at tackling rural distress

India on Friday unveiled an interim budget with giveaways for rural citizens, in what is being seen as a critical test for Prime Minister Narendra Modi, who is facing anger over depressed farm incomes and unemployment with a general election just months away.

Here are the highlights of interim Finance Minister Piyush Goyal's budget for the 2019/20 fiscal year beginning April 1.

Rural Affairs

- India to allocate 750 billion rupees ($10.56 billion) per year to support farmers' incomes

- Impact of 200 billion rupees in the current fiscal year

- Vulnerable farmers to receive 6,000 rupees per year under a new scheme

- Government to allocate 600 billion rupees for a rural employment scheme in 2019/20

- India to allocate 190 billion rupees for construction of rural roads in 2019/20

Also Read: Budget 2019 LIVE updates: Govt announces Pradhan Mantri Kisan Samman Nidhi; farmers with up to 2 hectare lands to get Rs 6,000 per year

Economics

- India's current account deficit for 2018/19 seen at 2.5 pct of GDP

- Fiscal deficit for 2018/19 seen at 3.4 per cent of GDP

- Goyal says expects other banks on the central bank's Prompt Corrective Action list to be removed soon.

Also Watch: Union Budget 2019-20: live streaming on India Today TV

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