The Union Budget 2019 sets a positive tone for economic development. The Budget is an attempt to provide a fine balance between larger socio-economic requirements and fiscal prudence.
What is unique about the Union Budget 2019?
Focus on agriculture sector
The government has made a budgetary allocation of INR 75,000 crore to assure income support for small and marginal farmers and has introduced a scheme for interest subvention on specified farm loans.
Support for lower and middle class
A pension scheme for the unorganised sector has been announced for workers with monthly income up to INR 15,000. The government has also extended tax benefit for lower income groups in the form of tax rebate and other tax relief.
The government has laid down a strategic vision for the country focusing on 10 key themes comprehensively covering all aspects of the economy to take India to the next level of development with social equity.