This year budget has come up with many excellent things especially for the farmers and for middle-class people. Keeping other things aside we can say Budget 2019 is a boon for the middle class or it can also be noted as the middle-class friendly budget as well. Let us not waste any time and start with the key highlights about the budget right away.
Budget 2019 For Farmers
Let us first talk about what is there for the Farmers this year in the budget 2019.
• The announcement of 60,000crores funds to be added in MNREGA will really help the farmers.
• The direct transfer of Rs.6, 000Rs to the farmers bank account will serve as a helping hand for them.
• Along with this, there will be 5% interest rate subvention for the farmers who are able to pay the loans on time.
• Further, kamdhenu scheme is made accessible for those who are into animal husbandry.
Now, these changes will surely help the farmers as now they can look after their savings and at the same time can invest in two-wheelers, tractors or other appliances for agricultural use.
Budget 2019 For Middle Class
Next comes the Middle-Class People who will be enjoying after listening to the new tax rules.
• The people, whose yearly income is less or equal to 5, 00,000Rs, are exempted from tax. It means, now they have a chance to save more and look for investments.
• The standard deduction has been decreased from 50,000 to 40,000 for the employees
• The TDS threshold is increased from 1.8Lakhs to 2.4Lkhas for rent
• The capital gain exemption will be made available up to 2Cr.
Along with this the Budget 2019 will further focus on Green and Clean India which means the arrival of electric vehicles will be very soon. Though changes were made for rural, GST, railways but there is nothing much about the automobile sector directly which is one of the critical sectors of our country today. Along with this, efficient measures are also not taken with regard to digital India as per the expectation.
Budget 2019 talks about only the farmers and middle class who were mostly forgotten in the yesteryears. Plus they are the ones who suffered the most in making money last year.