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Budget 2019: Full tax rebate allowed for income up to Rs 5 lakh

Finance Minister Piyush Goyal will present Budget 2019 in Parliament today.

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Budget 2019: Full tax rebate allowed for income up to Rs 5 lakh
FM Piyush Goyal
  • Sensex closes 212.74 pts higher at 36,469.43; Nifty rises 62.70 pts to 10,893.65
  • Congress President Rahul Gandhi in a tweet says Dear NoMo, 5 years of your incompetence and arrogance has destroyed the lives of our farmers. Giving them Rs 17 a day is an insult to everything they stand and work for
  • Income tax exemption for income up to Rs 5 lakh a big move, says PM Modi
  • PM Pension scheme will benefit many in the unorganised sector, says Modi
  • Modi says PM Kisaan Yojana is the biggest scheme since independence. Our Budget is a bonanza for middle class. In record time we are removing poverty
  • PM Narendra Modi says Budget has taken care of all sections. Swachh Bharat Mission is helping more than 9 crore families. More than 12 crore families from the new Budget
  • Anand Mahindra, chairman, Mahindra Group in a tweet said I'm just grateful that the reliefs to the key middle class and farmer segments were delivered in a measured way without risking bankruptcy of the economy. This was a controlled, pump-priming exercise
  • RPG Group chairman Harsh Goenka in a tweet said BJP - pro-poor, pro-farmers with pathbreaking reforms benefiting entire society. Opposition - anti-poor, populist, meant for the rich. Lacks imagination and sincerity. How will the jobs come? CII/ FICCI/ Businessmen- Will give a boost to economy. Full of 'josh'
  • Union Minister Dharmendra Pradhan says Opposition has no issues to talk about, they are scared of Modi Ji's welfare schemes. We don't do votebank politics, we do development politics. We are dedicated to take Indian farmers to new heights
  • Home Minister Rajnath Singh says it's a historic budget, and all the sections of the society will benefit from it
  • The budget has met the expectations of farmers, labourers and middle class. By bearing a cost of Rs 75,000 crore,the govt will implement Pradhan Mantri Kisan Samman Nidhi scheme. This scheme will also benefit those farmers who do not take loans, says BJP president Amit Shah
  • It was not a vote on account. It was an account for votes, says Former finance minister P Chidambaram on Budget
  • Sensex rises 467 points, Nifty gains 146 points post Budget speech
  • The Interim Budget presented by Shri Piyush Goyal today marks a high point in the policy directions that the Government headed by Prime Minister Shri Narendra Modi has given to this nation, says Jaitley
  • Former FM Arun Jaitley in a tweet says GST has already brought down most taxes on goods from 31% tax to the 18%, 12% and the 5% bracket. Never in the history of India during the five year tenure of a government we have witnessed tax reduction and a middle class relief of this magnitude
  • FM Piyush Goyal concludes his Budget speech
  • Development became a Jan Andolan (people's movement) under the present government, says Piyush Goyal
  • This is not just an Interim Budget, this is a vehicle for the developmental transformation of the nation, says Goyal
  • Benefits under Sec 80(i)BA being extended for one more year, for all housing projects approved till end of 2019-2020, says Piyush Goyal
  • Benefit of rollover of capital tax gains to be increased from investment in one residential house to that in two residential houses, for a taxpayer having capital gains up to Rs 2 crore; can be exercised once in a lifetime:FM
  • Gratuity limit increased from Rs 10 lakh to Rs 30 lakh in budget for 2019-20
  • TDS threshold on rental income raised from Rs 1.8 lakh to Rs 2.4 lakh, says Piyush Goyal
  • TDS threshold on interest on bank and post office deposits raised from Rs 10,000 to Rs 40,000
  • Individuals with gross income up to Rs 6.5 lakh will not need to pay any tax if they make investments in provident funds and prescribed equities, says Goyal
  • Standard deduction for salaried class raised from Rs 40,000 to Rs 50,000
  • Full tax rebate for individual taxpayers with income up to Rs 5 lakh announced
  • Along with completion of fiscal deficit consolidation programme, we will now focus on debt-to-GDP ratio consolidation, says Piyush Goyal
  • Expenditure to rise by 13% from revised estimates 2018-19 to budget estimates 2019-20, says Goyal
  • FM announces fiscal deficit as a proportion of GDP - 3.4% for the coming year, considering need for income support for farmers
  • Minimum Government Maximum Governance, with proactive, responsible and friendly bureaucracy, electronic governance is the 10th dimension of our vision for India for 2030, says Goyal
  • India becoming launchpad of the world, placing an Indian astronaut in space by 2022, says Goyal
  • Rs 3 lakh crore allocated to defence sector
  • 18% increase in direct tax collections in 2017-18, 1.06 crore people included in tax base, says Piyush Goyal
  • We are poised to become a 5 trillion dollar economy in the next five years, we aspire to become a 10 trillion dollar economy in the next eight years, says Goyal
  • Around 1 crore new tax payers added after demonetisation
  • VandeBharatExpress, indigenously developed semi high speed train, will give Indian passengers world class experience, says Piyush Goyal
  • 2% Interest subvention announced for small farmers
  • Rs 19,000 crore allocated for construction of rural roads
  • Goyal says govt wants GST relief for homebuyers
  • Goyal announces capital support for Railways at Rs 64,587 crore for FY20
  • Simplification of direct tax system will benefit taxpayers; direct tax reduced and tax interface made simpler and faceless to make life easier
  • Direct tax collections rose from Rs 6.38 lakh crore in 2013-14 to almost Rs 12 lakh crore; tax base up from 3.79 crore to 6.85 crore
  • Single window clearance for filmmaking to be made available to Indian filmmakers,says Piyush Goyal
  • Rs 35,000 crore allocated to OROP scheme, says Goyal
  • India has achieved over 98% rural sanitation coverage, says  Piyush Goyal
  • Within a short time of launch of Ayushman Bharat, nearly 10 lakh people have benefited and have saved around Rs 3,000 crore of their hard earned income
  • Under PM Ujjwala Yojana, a programme to give 8 crore free LPG connections to rural households, 6 crore connections given already
  • Mega Pension Yojana to provide assured monthly pension of Rs 3,000 per month for unorganised sector
  • Farmers having up to 2 hectare of land will get Rs 6,000 per year under the scheme
  • Pradhan Mantri Kisan Samman Nidhi scheme for farmers announced
  • 22nd AIIMS to be set up in Haryana, says FM Piyush Goyal
  • The government is commited to clean banking, says Goyal
  • FM Piyush Goyal says Rs 1,70,000 crore spent for bringing food at affordable rates to poor people
  • FM Piyush Goyal says govt working for housing for all poor by 2022
  • FM Piyush Goyal says India has become the fastest growing economy
  • FM Piyush Goyal starts his Budget speech
  • Union Cabinet approves Budget 2019-20
  • India Inc wants govt to cut corporate tax to 20%
  • Congress leader Mallikarjun Kharge says govt will try to introduce populist schemes in the Budget keeping an eye on Lok Sabha polls
  • The government's sixth budget will also be for the farmers, it will empower them, says agricultural minister Radha Mohan Singh
  • Sushma Swaraj, Rajnath Singh, and Ravi Shankar Prasad arrive at Parliament
  • State Railways minister Manoj Sinha says further investment in railways will certainly be increased
  • Rupee fell by 9 paise to 71.17 in early trade ahead of Budget speech
  • FM Piyush Goyal reaches Parliament to present his first Budget
  • Budget papers reach Parliament
  • Sensex opens 116 points higher, Nifty rises 37 points to 10,868
  • Tax sops can be expected for the realty sector
  • Homebuyers likely to get relief in Budget 2019
  • The Budget is expected to project economic growth of 7.5 percent for the next financial year
  • FM Piyush Goyal has reached North Block
  • FM Piyush Goyal to present Budget 2019 in Parliament at 11 am today
  • Govt set to step up rural welfare spending by 16% to Rs 1.3 trillion in Budget 2019
  • Basic exemption limit may be raised from Rs 3 lakh to Rs 3.5 lakh for those aged 60 years or more
  • Basic exemption limit may be raised to Rs 3 lakh for individuals of less than 60 years of age
  • PHD Chamber has pitched for cutting corporate tax to 25 per cent, and raising income tax exemption limit for individuals to Rs 3.5 lakh per annum in the Budget
  • Fitch Ratings has warned of a second consecutive year of fiscal slippage in the event of government resorting to populist spending to win over lost vote base
  • Nifty too closed 179 points higher to 10,830
  • Ahead of Budget 2019, the Sensex surged over 665 points as investors piled into recently beaten down banking, auto, IT and FMCG stocks
  • FM walks on a tight rope to click a balance between industry expectations and fiscal consolidation
  • Income tax exemptions are likely to be increased
  • Narendra Modi government to present Budget 2019 in Parliament today
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