Is India Budget 2019 good for the middle class?
Hi Guys,
Today's topic is "Is India Budget 2019 good for the middle class?". Piyush Goyal was appointed as interim finance minister because Arun Jaitley was undergoing treatment in the United States. Finance minister presented the awaited Union Budget in Lok Sabha.
Sorry about I had not posted any blog because of some reason afterwards I will post a weekly blog. Some kind of benefits is given by the Government such as in real estate, taxpayer etc.
Some of the Hight lights are given below:
- The individual taxpayer gets a tax rebate on up to 5 lakh rupees of annual income.
- if you make an investment in provident funds and prescribed equities with annual income is up to 6.5 lakh rupees will not pay any tax.
- Standard tax deduction for salaried persons increased by 10,000 rupees. i.e. now it is 50,000 rupees.
- TDS limit on interest from a deposit in banks and post offices hiked to 40,000 rupees.
- TDS threshold is raised from 1.8 lakh to 2.4 lakh rupees on rental income.
- Farmers will get subsidy up to 6,000 rupees in a quarterly manner on their accounts. If they have less than 2-hectare land then it will get the benefit.
- The finance minister announced a new scheme "Pradhan Mantri Shram Yogi Mandhan", in this scheme worker get assured monthly pension of 3,000 rupees per month workers for unorganised sector who earn up to 15,000 rupees per month.
- To Enhance Border Security finance minister increased the budget for Defence to 3 lakh crore.
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