There is lot of expectations all over as interim- finance Minister in the absence of Arun Jaitley, Piyush Goyal, presented the sixth and the interim budget. It is the last budget of the government of Prime Minister Narendra Modi before the Lok Sabha polls of 2019.
The interim budget will seek Parliament’s nod for spending till a new Central government is sworn-in. The new government, elected after the General Elections due by May, is expected to present the full-fledged budget in July to be preceded by the tabling of Economic Survey.
Here are the highlights of Piyush Goyal’s Interim Budget speech :
– Our soldiers are our pride and honour. Our defence budget for the first time has increased to Rs 3 lakh crore and additional funds will be provided. Infrastructure is the backbone of any development. Over 100 operation airports in the country and domestic passenger traffic has doubled in last five years
– Goyal announced Rs 6,000 per annum direct cash transfer to farmers owning less than 2 hectares of land. The move, months before general elections, is likely to benefit 12 crore farmers. Rs 60,000 crore has also been set aside for MGNREGA, the rural employment scheme.
– a national cow commission for the welfare of cows would also be set up
– For workers who receive grevious injuries, they will now get Rs 6 lakh from Rs 2.5 lakh through EPFO
– Gratuity Amount Increases from Rs 10 Lakh to 20 Lakh -For workers and labourers, Goyal says that a new pension scheme will come up to ensure an increase in centre’s contribution by four percent. “The pension has been increased from Rs 3,500 to Rs 7,000. Gratuity payment limit has been increased from 10 lakh to 20 lakh
– Govt to Set Up Rashtriya Kamdhenu Aayog for Welfare of Cows – The Modi government has decided to set up ‘Rashtriya Kamdhenu Aayog’ for implementation of policies and schemes for welfare of cows. “Increase in allocation for fisheries and husbandary sector for GOKUL scheme. Government has decided to create a separate department for fisheries. Two percent relaxation in credit for will be given to farmers who are in animal husbandary
– Wooing Farmers – Farmers earlier did not get full cost for their produce. Farmers income has reduced over the years. Income support to farmers small and marginal faers Pradhan Mantri Kisan Samman Nidhi (KISAN) has been approved. Famers owning 2 hectares and less will be provided with Rs 6,000 per annum directly into their accounts. There are nearly 12 crore such farmers.
– AIIMS in Haryana – Prices of medicines as well as other surgical equipment like stents etc have significantly been brought down. The prices reduced for medicines, stems used in cardiac operations and knee replacements have helped families avail more benefits. I’m happy to announce that 22nd AIIMS will come up in Haryana .