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Page 1
1
Vision to become $5
trillion economy driven
by ‘virtuous cycle’ of
investment
India becomes sixth
largest economy
Pradhan Mantri
Matsya Sampada
Yojana (PMMSY)
Establish robust
fisheries management
framework
Scheme of faceless
electronic tax
assessment
Aadhaar and PAN to be
interchangeable
Enhanced interest
deduction for affordable
housing loan
Tax benefits for
corporate tax payers
Reform, Perform,
Transform agenda:
GST, IBC, RERA etc.
Changing common
man’s life:
MUDRA, UJJWALA,
SAUBHAGYA etc.
KEY
FEATURES
OF BUDGET
2019-20
? Vision for $5 trillion
economy driven by
investment
? Transforming rural lives
? New Jal Shakti
Mantralaya to ensure Har
Ghar Jal
? Enhancing ease of direct
and indirect taxation
? Strengthening
connectivity
Infrastructure
? Gandhipedia to sensitize
society
? India’s soft power
? Harnessing India’s space
abilities
Pradhan Mantri
Karam Yogi
Maandhan
Pension benefits to
retail traders and small
shopkeepers
Page 2
1
Vision to become $5
trillion economy driven
by ‘virtuous cycle’ of
investment
India becomes sixth
largest economy
Pradhan Mantri
Matsya Sampada
Yojana (PMMSY)
Establish robust
fisheries management
framework
Scheme of faceless
electronic tax
assessment
Aadhaar and PAN to be
interchangeable
Enhanced interest
deduction for affordable
housing loan
Tax benefits for
corporate tax payers
Reform, Perform,
Transform agenda:
GST, IBC, RERA etc.
Changing common
man’s life:
MUDRA, UJJWALA,
SAUBHAGYA etc.
KEY
FEATURES
OF BUDGET
2019-20
? Vision for $5 trillion
economy driven by
investment
? Transforming rural lives
? New Jal Shakti
Mantralaya to ensure Har
Ghar Jal
? Enhancing ease of direct
and indirect taxation
? Strengthening
connectivity
Infrastructure
? Gandhipedia to sensitize
society
? India’s soft power
? Harnessing India’s space
abilities
Pradhan Mantri
Karam Yogi
Maandhan
Pension benefits to
retail traders and small
shopkeepers
2
Shipping and
Inland
waterways
Rail
Road
Bharatmala phase 2 to be
launched. State road
networks will be developed
92
96
100
2017-182018-19
(RE)
2019-20
(BE)
98.4
96.2
95
Operating Ratio improving
Air
UDAAN: Number of
Operational Airports crossed
100
World’s third largest
domestic aviation
market
Jal Marg Vikas project and Sagarmala initiatives: improving
logistics, reducing transportation cost and increasing
competitiveness.
PPP in railways infra
development
657 km Metro rail network
already operational.
National Common Mobility
Card launched.
PUSH TO INVESTMENT: INFRASTRUCTURE DEVELOPMENT
Page 3
1
Vision to become $5
trillion economy driven
by ‘virtuous cycle’ of
investment
India becomes sixth
largest economy
Pradhan Mantri
Matsya Sampada
Yojana (PMMSY)
Establish robust
fisheries management
framework
Scheme of faceless
electronic tax
assessment
Aadhaar and PAN to be
interchangeable
Enhanced interest
deduction for affordable
housing loan
Tax benefits for
corporate tax payers
Reform, Perform,
Transform agenda:
GST, IBC, RERA etc.
Changing common
man’s life:
MUDRA, UJJWALA,
SAUBHAGYA etc.
KEY
FEATURES
OF BUDGET
2019-20
? Vision for $5 trillion
economy driven by
investment
? Transforming rural lives
? New Jal Shakti
Mantralaya to ensure Har
Ghar Jal
? Enhancing ease of direct
and indirect taxation
? Strengthening
connectivity
Infrastructure
? Gandhipedia to sensitize
society
? India’s soft power
? Harnessing India’s space
abilities
Pradhan Mantri
Karam Yogi
Maandhan
Pension benefits to
retail traders and small
shopkeepers
2
Shipping and
Inland
waterways
Rail
Road
Bharatmala phase 2 to be
launched. State road
networks will be developed
92
96
100
2017-182018-19
(RE)
2019-20
(BE)
98.4
96.2
95
Operating Ratio improving
Air
UDAAN: Number of
Operational Airports crossed
100
World’s third largest
domestic aviation
market
Jal Marg Vikas project and Sagarmala initiatives: improving
logistics, reducing transportation cost and increasing
competitiveness.
PPP in railways infra
development
657 km Metro rail network
already operational.
National Common Mobility
Card launched.
PUSH TO INVESTMENT: INFRASTRUCTURE DEVELOPMENT
3
Vision for
connectivity
infrastructure
Housing
Promotion of rental
housing: Model tenancy law
to be finalised.
Water
grids
Regional
airports
Power
grids
I-ways
Gas
grids
Credit
Guarantee
Enhancement
Corporation to
be set up in
2019-20
Action plan to
deepen long
term bonds
market
To permit
transfer of
FII/FPI
investment in
debt securities
issued by IDF-
NBFCs to
domestic
investors
PUSH TO INVESTMENT: INFRASTRUCTURE DEVELOPMENT
Houses under PMAY-U:
Sanctioned: 81 lakh
Construction started: 47 lakh
Completed: 26 lakh
Delivered: 24 lakh
Measures for boosting infrastructure financing
Page 4
1
Vision to become $5
trillion economy driven
by ‘virtuous cycle’ of
investment
India becomes sixth
largest economy
Pradhan Mantri
Matsya Sampada
Yojana (PMMSY)
Establish robust
fisheries management
framework
Scheme of faceless
electronic tax
assessment
Aadhaar and PAN to be
interchangeable
Enhanced interest
deduction for affordable
housing loan
Tax benefits for
corporate tax payers
Reform, Perform,
Transform agenda:
GST, IBC, RERA etc.
Changing common
man’s life:
MUDRA, UJJWALA,
SAUBHAGYA etc.
KEY
FEATURES
OF BUDGET
2019-20
? Vision for $5 trillion
economy driven by
investment
? Transforming rural lives
? New Jal Shakti
Mantralaya to ensure Har
Ghar Jal
? Enhancing ease of direct
and indirect taxation
? Strengthening
connectivity
Infrastructure
? Gandhipedia to sensitize
society
? India’s soft power
? Harnessing India’s space
abilities
Pradhan Mantri
Karam Yogi
Maandhan
Pension benefits to
retail traders and small
shopkeepers
2
Shipping and
Inland
waterways
Rail
Road
Bharatmala phase 2 to be
launched. State road
networks will be developed
92
96
100
2017-182018-19
(RE)
2019-20
(BE)
98.4
96.2
95
Operating Ratio improving
Air
UDAAN: Number of
Operational Airports crossed
100
World’s third largest
domestic aviation
market
Jal Marg Vikas project and Sagarmala initiatives: improving
logistics, reducing transportation cost and increasing
competitiveness.
PPP in railways infra
development
657 km Metro rail network
already operational.
National Common Mobility
Card launched.
PUSH TO INVESTMENT: INFRASTRUCTURE DEVELOPMENT
3
Vision for
connectivity
infrastructure
Housing
Promotion of rental
housing: Model tenancy law
to be finalised.
Water
grids
Regional
airports
Power
grids
I-ways
Gas
grids
Credit
Guarantee
Enhancement
Corporation to
be set up in
2019-20
Action plan to
deepen long
term bonds
market
To permit
transfer of
FII/FPI
investment in
debt securities
issued by IDF-
NBFCs to
domestic
investors
PUSH TO INVESTMENT: INFRASTRUCTURE DEVELOPMENT
Houses under PMAY-U:
Sanctioned: 81 lakh
Construction started: 47 lakh
Completed: 26 lakh
Delivered: 24 lakh
Measures for boosting infrastructure financing
4
Startups
promotion
FAME Scheme Phase-2
commenced
Income tax deduction of interest on loans for e-vehicle
purchase
Push to
E-vehicles
Empowering
MSMEs and
social
enterprises
Exclusive TV channel
for startups
Changes in customs duties to promote Make in India
Interest subvention scheme
for MSMEs: `350 crore
allocated for 2019-20
Payment platform for bill
filing for MSMEs to be
created: to address delays
PUSH TO INVESTMENT: INDUSTRIAL DEVELOPMENT
Social stock exchange for
listing social enterprises and
voluntary organisations
E-verification for establishing investor
identity and source of funds to resolve
tax issues relating to fund raising
Make in India
Customs duty exemption on certain
e-vehicle parts
Page 5
1
Vision to become $5
trillion economy driven
by ‘virtuous cycle’ of
investment
India becomes sixth
largest economy
Pradhan Mantri
Matsya Sampada
Yojana (PMMSY)
Establish robust
fisheries management
framework
Scheme of faceless
electronic tax
assessment
Aadhaar and PAN to be
interchangeable
Enhanced interest
deduction for affordable
housing loan
Tax benefits for
corporate tax payers
Reform, Perform,
Transform agenda:
GST, IBC, RERA etc.
Changing common
man’s life:
MUDRA, UJJWALA,
SAUBHAGYA etc.
KEY
FEATURES
OF BUDGET
2019-20
? Vision for $5 trillion
economy driven by
investment
? Transforming rural lives
? New Jal Shakti
Mantralaya to ensure Har
Ghar Jal
? Enhancing ease of direct
and indirect taxation
? Strengthening
connectivity
Infrastructure
? Gandhipedia to sensitize
society
? India’s soft power
? Harnessing India’s space
abilities
Pradhan Mantri
Karam Yogi
Maandhan
Pension benefits to
retail traders and small
shopkeepers
2
Shipping and
Inland
waterways
Rail
Road
Bharatmala phase 2 to be
launched. State road
networks will be developed
92
96
100
2017-182018-19
(RE)
2019-20
(BE)
98.4
96.2
95
Operating Ratio improving
Air
UDAAN: Number of
Operational Airports crossed
100
World’s third largest
domestic aviation
market
Jal Marg Vikas project and Sagarmala initiatives: improving
logistics, reducing transportation cost and increasing
competitiveness.
PPP in railways infra
development
657 km Metro rail network
already operational.
National Common Mobility
Card launched.
PUSH TO INVESTMENT: INFRASTRUCTURE DEVELOPMENT
3
Vision for
connectivity
infrastructure
Housing
Promotion of rental
housing: Model tenancy law
to be finalised.
Water
grids
Regional
airports
Power
grids
I-ways
Gas
grids
Credit
Guarantee
Enhancement
Corporation to
be set up in
2019-20
Action plan to
deepen long
term bonds
market
To permit
transfer of
FII/FPI
investment in
debt securities
issued by IDF-
NBFCs to
domestic
investors
PUSH TO INVESTMENT: INFRASTRUCTURE DEVELOPMENT
Houses under PMAY-U:
Sanctioned: 81 lakh
Construction started: 47 lakh
Completed: 26 lakh
Delivered: 24 lakh
Measures for boosting infrastructure financing
4
Startups
promotion
FAME Scheme Phase-2
commenced
Income tax deduction of interest on loans for e-vehicle
purchase
Push to
E-vehicles
Empowering
MSMEs and
social
enterprises
Exclusive TV channel
for startups
Changes in customs duties to promote Make in India
Interest subvention scheme
for MSMEs: `350 crore
allocated for 2019-20
Payment platform for bill
filing for MSMEs to be
created: to address delays
PUSH TO INVESTMENT: INDUSTRIAL DEVELOPMENT
Social stock exchange for
listing social enterprises and
voluntary organisations
E-verification for establishing investor
identity and source of funds to resolve
tax issues relating to fund raising
Make in India
Customs duty exemption on certain
e-vehicle parts
5
4.3
4.8
1.7
1.3
1.1
0.7
1.8
2.1
0.0
1.0
2.0
3.0
4.0
5.0
6.0
CAD as % of GDP
GROWTH & MACRO-ECONOMIC STABILITY:
VISION FOR $5 TRILLION ECONOMY
7.4
8
8.2
7.2
6.8
6
6.75
7.5
8.25
GDP Growth rate (%)
Fastest growing major economy in the
world
11th largest economy in
2013-14
6th largest economy
in 2019-20
GDP
FDI
& FPI
CAD
5.6% of GDP
in 2013-14
2.1% of GDP
in 2018-19
India attracted $64.4 bn worth of FDI in
2018-19
Local sourcing norms to be eased for
FDI in single brand retail
100% FDI to be permitted for
Insurance intermediaries
Statutory limit for FPI investment in a
company increased to sectoral limit
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FAQs on Highlights: Union Budget 2019-20 - RBI Grade B Phase 1 Preparation - Bank Exams
| 1. What are the key highlights of the Union Budget 2019-20? |  |
Ans. The key highlights of the Union Budget 2019-20 include the following:
- Introduction of a new tax slab with reduced income tax rates for individuals and HUFs.
- Proposal to simplify the GST return filing process.
- Allocation of funds for infrastructure development, such as roads, railways, and airports.
- Increase in the minimum public shareholding limit for listed companies.
- Focus on promoting digital payments and digital economy.
| 2. How will the new income tax slab benefit individuals and HUFs? | |
Ans. The new income tax slab introduced in Union Budget 2019-20 offers reduced tax rates for individuals and HUFs. The new tax rates are as follows:
- For income up to Rs. 2.5 lakh, no tax is applicable.
- For income between Rs. 2.5 lakh and Rs. 5 lakh, the tax rate is 5%.
- For income between Rs. 5 lakh and Rs. 10 lakh, the tax rate is 20%.
- For income above Rs. 10 lakh, the tax rate is 30%.
This change is expected to provide relief to middle-class taxpayers and incentivize higher savings and investments.
| 3. What are the proposed changes in the GST return filing process? | |
Ans. The Union Budget 2019-20 proposed to simplify the GST return filing process. The following changes were announced:
- A simplified GST return system will be introduced, which would require taxpayers to file only one monthly return.
- The earlier requirement of filing multiple returns, such as GSTR-1, GSTR-2, and GSTR-3, will be eliminated.
- A new simplified return form, called 'Sugam,' will be made available for small taxpayers with a turnover of up to Rs. 5 crore.
These changes aim to make the GST return filing process more user-friendly and reduce the compliance burden on taxpayers.
| 4. How does the Union Budget 2019-20 focus on infrastructure development? | |
Ans. The Union Budget 2019-20 emphasizes infrastructure development through various measures, including:
- Allocation of funds for the development of roads, railways, and airports.
- Introduction of the National Infrastructure Pipeline, which aims to invest Rs. 103 lakh crore in infrastructure projects over the next five years.
- Emphasis on the development of transport infrastructure, including the expansion of the metro rail network and the development of waterways.
These initiatives aim to boost economic growth, create employment opportunities, and improve connectivity across the country.
| 5. What steps are being taken to promote the digital economy in the Union Budget 2019-20? | |
Ans. The Union Budget 2019-20 focuses on promoting the digital economy through the following steps:
- Allocation of funds for the development of digital infrastructure, including the installation of fiber optic cables in rural areas.
- Introduction of a new payment platform for MSMEs to enable easy and secure digital payments.
- Proposal to levy a TDS (Tax Deducted at Source) of 2% on cash withdrawals exceeding Rs. 1 crore in a year, to discourage cash transactions and promote digital payments.
These measures aim to enhance digital connectivity, encourage digital transactions, and promote the adoption of digital technologies in the economy.
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