- FM concludes Budget speech with a Hindi quote: Ek paav rakhta hun, hazaar raahein phoot padti hai, meaning one step opens up a thousand roads.
- No tax on notional rent on second self-occupied house and no tds on house rent up to Rs 2.4 lakh. FM adds, This is not just a budget but lays out the path to progress of the country
- TDS threshold on rental income raised from 1.8 lakh to 2.4 lakh rupees: FM
- That’s all the middle-class, rather many upper-middle-class people were looking forwards to. If you have the right investments then people earning upto 9 lakhs may not have to pay any tax.
- Individuals with gross income up to 6.5 lakh rupees will not need to pay any tax if they make investments in provident funds and prescribed equities
- FM raises standard deduction raised from Rs 40,000 to Rs 50,000.
- All interest income above Rs 40,000 from bank deposits will now get taxed and not Rs 10,000: Piyush
- No tax on notional rent on second house: Piyush
- The tax you pay will provide healthcare to 50 crore brothers, sisters and children: FM
- Some benefits must therefore also be passed on the middle class tax payers. Keeping this in view I propose to reduce the tax burden on tax payers. The salary earners, pensioners and senior citizens should not wait to get clarity on their taxes: FM
- Relief for middle class tax payers as salaried class with 5 lakh annual income given full rebate
- Piyush: India will lead the world in transport through electric vehicle (EV) and energy storage device
- FM: More than 1 crore people filed IT returns for the first time, after #demonetization
- We are poised to become a 5 trillion dollar economy in the next 5 years and we aspire to become a 10 trillion dollar economy in the next 8 years: FM
- Cost of data and voice calls in India is now possibly the lowest in the world; mobile and mobile part manufacturing companies have increased from 2 to 268: Piyush
- Electric vehicles is a national security necessity. Crude import is a security threat as well. So, India needs to take a leap asap.
- The government is laying out the vision for the most important dimensions for the next 10 years to make India a Rs 10 lakh crore economy and enhance ease of living including development of roads, railways, seaports, health, among other things.
- Demonetisation Wiped out black money: Piyush
- FM: We are poised to become Rs 5 lakh crore in the next 5 years
- No hope for working class: Despite high speculation, no changes in tax slabs and no investment incentives for salaried investors and tax payers
- FM’s talk on anti-Blackmoney measures met with boos from the opposition
- More savings for common man as gratuity limit raised to 20 lakhs
- FM: GST burden on homebuyers to reduce. So we have requested the GST Council to set up a group of ministers who will now work out how to reduce the burden on homebuyers.
- Piyush: 99.54% returns have been accepted without any scrutiny
- Within next 2 years, almost all income tax verification and assessment of returns selected for scrutiny will be done electronically. Anonymous back office without any interface between tax paper and IT officials.
- Most items of daily use are now in the 0-5% slab making GST beneficial for the middle class
- Lower income tax burden and no direct dealing with the tax man in a couple of years.
- FM: Reducing tax for the middle class has been our priority
- Out Govt implemented GST the biggest taxation reforms. India became one common market: FM
- Digital scrutiny of tax files. IT returns will be processed same day and refund simultaneously: FM
- FM hints at Simplification of direct tax system
- Indian filmmakers will now get single window clearance for shoot: FM
- FM: Indian Railways operating ratio to improve to 95% for 2019-20 from 96.2% in 2018-19.The operating ratio of Railways is seen at 96.2% in FY19 and 95% in FY20.
1. India has achieved over 98% rural sanitation coverage.
2. 5.45 lakh villages declared #ODF
3. #SwachhBharat now a national movement
- Piyush: Our commitment to promote renewable energy is reflected in our initiative to set up International Solar Alliance; installed solar generation capacity has increased 10 times in last five years; lakhs of new jobs being created by the sector
- Installed solar generation capacity in India increased by 10 times in the last 5 years.