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Budget 2K19: Made By: 17BCS1907 17BCS1908 17BCS1909 17BCS1910 17BCS1911

The document summarizes the key details of the Indian budget for 2019. It was presented by acting Finance Minister Piyush Goyal on February 1, 2019. The budget focused on supporting farmers and the rural economy through programs like Pradhan Mantri Kisan Samman Nidhi, which provides annual income support of up to Rs. 6,000 to small farmers. It also outlined the Pradhan Mantri Shram Yogi Mandhan pension program for poor workers in the unorganized sector. Some tax relief was provided to lower and middle income taxpayers through an increased rebate of up to Rs. 12,500. Overall, the budget aimed to boost the agricultural sector and GDP growth while providing social welfare programs.

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Sameer Khullar
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32 views

Budget 2K19: Made By: 17BCS1907 17BCS1908 17BCS1909 17BCS1910 17BCS1911

The document summarizes the key details of the Indian budget for 2019. It was presented by acting Finance Minister Piyush Goyal on February 1, 2019. The budget focused on supporting farmers and the rural economy through programs like Pradhan Mantri Kisan Samman Nidhi, which provides annual income support of up to Rs. 6,000 to small farmers. It also outlined the Pradhan Mantri Shram Yogi Mandhan pension program for poor workers in the unorganized sector. Some tax relief was provided to lower and middle income taxpayers through an increased rebate of up to Rs. 12,500. Overall, the budget aimed to boost the agricultural sector and GDP growth while providing social welfare programs.

Uploaded by

Sameer Khullar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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BUDGET 2K19

MADE BY:
17BCS1907
17BCS1908
17BCS1909
17BCS1910
17BCS1911
WHAT IS BUDGET?

A budget is a financial plan for a defined period, often one year. It may
also include planned sales volumes and revenues, resource quantities, costs
and expenses, assets, liabilities and cash flows.
A budget is the sum of money allocated for a particular purpose and the
summary of intended expenditures along with proposals for how to meet
them. It may include a budget surplus, providing money for use at a future
time, or a deficit in which expenses exceed income.
WHO DRAFTS BUDGET?

The budget is prepared by the Budget Division Department of Economic


Affairs of the Ministry of Finance annually. The Finance Minister is the head
of the budget making committee. The present Indian Finance minister is
Arun Jaitley.
The first budget of India was submitted on 18 February 1869 by James
Wilson. James Wilson is known as the father of Indian budget.
BUDGET 2019

This year the budget was presented by the acting Finance minister of
India Piyush Goyal on 1 February 2019.
This year budget comprised of a few schemes by the current
government. These were:
1. Pradhan Mantri Kisan Samman Nidhi.
2. Pradhan Mantri Shram Yogi Mandhan.
This year’s budget also gave relief in terms of the payable tax to the
lower class and middle class families.
PRADHAN MANTRI KISAN SAMMAN NIDHI

Pradhan Mantri Kisan Samman Nidhi (PM-Kisaan) Scheme is an


initiative by Government of India in which 120 million small and marginal
Indian farmers who have less than 2 hectares (4.9 acres) of landholding will
get up to ₹6,000 (US$83) per year as minimum income support. The scheme
was announced by Piyush Goyal during the 2019 Interim Union Budget of
India on 1 February 2019.
PRADHAN MANTRI SHRAM YOGI MANDHAN.

Pradhan Mantri Shram Yogi Mandhan is a 2019 scheme introduced by


Government of India for poor laborers in the unorganized sector from
minimum 18years of age to maximum 40 years.
Under the scheme, a monthly pension of ₹3,000 (US$42) per month is
provided to workers in the unorganized sector over 60 years of age.
However, to benefit from the scheme, workers have to contribute ₹55
monthly (for age 18) and it varies according to age. Maximum contribution
for a year cannot exceed ₹2400 (Rs.200 per month).
RELIEF ON TAXES!

1.Some relief has been given to the low class and middle class families by
the budget .
2. The exemption is in the form of a tax deduction for individuals whose
taxable income is up to Rs 5,00,000 rather than changing the income tax
slabs, which has a cascading effect on the entire strata of taxpayers.
3.The exemption is in the form of a rebate of up to Rs 12,500 (which is the
tax liability of a person whose income is Rs 5,00,000.).
CONCLUSION

The budget of this year primarily focussed on the farmers and the growth of the GDP.
Well, it has been observed that there will be greater fiscal deficit than the previous
year(2018).
The budget also included providing education to the children belonging to the tribal
communities by giving them admissions in Eklavaya Vidhyalayas.
The government has done its part , lets see what happens next!

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