TaxTMI 
TaxTMI 
TaxTMI 
Budget Highlights (Key Features)
X X X X Extracts X X X X
X X X X Extracts X X X X
....udget Highlights (Key Features) <br>Budget<br>Dated:- 5-7-2019<br><BR>============= Document 1 KEY FEATURES OF BUDGET 2019-20 ப௠• • • Vision for $5 trillion economy driven by investment Transforming rural lives New Jal Shakti • Strengthening • Mantralaya to ensure Har • Ghar Jal Enhancing ease of direct and indirect taxation connectivity Infrastructure Gandhipedia to sensitize society India's soft power Harnessing India's space abilities Rs. Hv Pradhan Mantri Karam Yogi Maandhan Pension benefits to retail traders and small shopkeepers Enhanced interest deduction for affordable housing loan Tax benefits for corporate tax payers Vision to become $5 trillio....
X X X X Extracts X X X X
X X X X Extracts X X X X
....n economy driven by 'virtuous cycle' of investment India becomes sixth largest economy 11 Pradhan Mantri Matsya Sampada Yojana (PMMSY) Establish robust fisheries management framework Scheme of faceless electronic tax assessment Aadhaar and PAN to be interchangeable Reform, Perform, Transform agenda: GST, IBC, RERA etc. Changing common man's life: MUDRA, UJJWALA, SAUBHAGYA etc. 1 Road Air PUSH TO INVESTMENT: INFRASTRUCTURE DEVELOPMENT Bharatmala phase 2 to be launched. State road networks will be developed World's third largest domestic aviation market UDAAN: Number of Operational Airports crossed 100 Shipping and Inland waterways Jal Marg Vikas project and Sagarmala initiatives: improving logistics, ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....reducing transportation cost and increasing competitiveness. Operating Ratio improving PPP in railways infra development Rail 657 km Metro rail network already operational. National Common Mobility Card launched. 98.4 100 96.2 95 96 92 2017-18 2018-192019-20 (RE) (BE) 2 Housing PUSH TO INVESTMENT: INFRASTRUCTURE DEVELOPMENT Houses under PMAY-U: Sanctioned: 81 lakh Construction started: 47 lakh Completed: 26 lakh Delivered: 24 lakh Promotion of rental housing: Model tenancy law to be finalised. Gas grids Water grids 1 Vision for connectivity infrastructure I-ways Power grids Regional airports Measures for boosting infrastructure financing Credit Guarantee Enhancement Corporation to be set up in ....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... 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 3 PUSH TO INVESTMENT: INDUSTRIAL DEVELOPMENT Empowering MSMEs and social enterprises Interest subvention scheme for MSMES: `350 crore allocated for 2019-20 Payment platform for bill filing for MSMEs to be created: to address delays Social stock exchange for listing social enterprises and voluntary organisations Make in India Startups promotion Changes in customs duties to promote Make in India Exclusive TV channel for startups E-verification for establishing investor identity and source of funds to resolve tax issues relating to fund raising Push to....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... E-vehicles FAME Scheme Phase-2 commenced Customs duty exemption on certain e-vehicle parts Income tax deduction of interest on loans for e-vehicle purchase 4 GROWTH & MACRO-ECONOMIC STABILITY: VISION FOR $5 TRILLION ECONOMY GDP Fastest growing major economy in the 11th largest economy in 2013-14 FDI & FPI world 6th largest economy in 2019-20 GDP Growth rate (%) CAD 5.6% of GDP in 2013-14 CAD as % of GDP 8.2 8.25 8 6.04.3 4.8 5.0 7.4 4.0 7.5 6.75 7.2 3.0 6.8 1.7 2.0 00 6 2014-15 2015-16 2016-17 4646469 2017-18 2018-19 1.0 0.0 2.1% of GDP in 2018-19 1.8 2.1 2011-12 2012-13 2013-14 2014-15 2015-16 1.3 1.1 0.7 2016-17 2017-18 2018-19 India attracted $64.4 bn worth of FDI in 2018-19....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... Statutory limit for FPI investment in a company increased to sectoral limit 100% FDI to be permitted for Insurance intermediaries Local sourcing norms to be eased for FDI in single brand retail 5 4.3 3.9 4 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 3.4 4.9 2.6 2009-10 2010-11 6.6 6.1 5.9 4.9 4.5 4.1 3.9 ON THE PATH OF FISCAL CONSOLIDATION AND INFLATION MANAGEMENT Fiscal Deficit (% of GDP) CPI Inflation (in %) Disinvestment Receipts (in crore) 1,00,045 80,000 2017-18 (Actuals) 2018-19 (RE) 2019-20 (BE) 3.5 3.5 3.4 3.3 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 o o oooo 9.0 8.0 7.0 6.0 5.0 4.0 3.0 2.0 987654 1.0 Apr-14 Jul-14 Oct-14 Jan-15 Apr-15 ....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... Jul-15 Oct-15 Jan-16 Apr-16 Jul-16 Oct-16 Jan-17 Apr-17 1,05,000 51.4 Central Govt. Debt (% of GDP) 51.6 49.9 49.5 48.4 48 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 (Actuals) (RE) (BE) Also, India's sovereign external debt to GDP ratio amongst the lowest globally at less than 5%. 6 Jul-17 Oct-17 Jan-18 Apr-18 Jul-18 Oct-18 Jan-19 Apr-19 Revenue Receipts (in crore) BUDGET AT A GLANCE Capital Receipts (in crore) 8,23,588 19,62,761 20,00,000 17,25,738 17,29,682 7,06,740 7,16,475 7,27,553 8,00,000 14,35,233 15,00,000 6,00,000 10,00,000 4,00,000 5,00,000 2,00,000 0 0 2017-18 2018-19 2018-19 2019-20 (Actuals) (BE) ་ Revenue Expenditure (in crore) (RE) (BE) 2017-18 (Actual....
X X X X Extracts X X X X
X X X X Extracts X X X X
....s) 2018-19 (BE) 2018-19 (RE) 2019-20 (BE) Capital Expenditure (in crore) 21,41,772 21,40,612 24,47,780 3,38,569 3,16,623 3,00,441 25,00,000 18,78,833 3,50,000 2,63,140 20,00,000 2,80,000 15,00,000 2,10,000 10,00,000 1,40,000 5,00,000 70,000 0 0 2017-18 2018-19 2018-19 2019-20 (Actuals) (BE) (RE) (BE) 2017-18 (Actuals) 2018-19 (BE) 2018-19 2019-20 (RE) (BE) ས 7 RUPEE COMES FROM BUDGET AT A GLANCE RUPEE GOES TO 20% Borrowings and Other Liabilities 9%- Non Tax Revenue 8%-Union Excise Duties 4% Customs 9% Centrally Sponsored Schemes 8% Subsidies 9% Defence 21% Corporate Tax 19% GST 18% Interest Payments 23% States' Share of taxes & Duties 7% Finance Comm. & Transfer....
X X X X Extracts X X X X
X X X X Extracts X X X X
....s 16% Income Tax 3% Non debt Capital Receipts 8 13% Central Sector Schemes 5% Pensions 8% Other Expenditure TAX PROPOSALS FACELESS E-ASSESSMENT A scheme of faceless electronic assessment involving no human interface to be launched this year DIRECT TAX REFORMS PAYING OFF Increase in tax collection by 78% from 6.4 lakh crore in 2013-14 to 11.4 lakh crore in 2018-19 ENHANCING EASE OF TAX PAYERS Aadhaar and PAN to be made interchangeable * Threshold for applicability of lower corporate tax rate of 25% increased from 250 crore to Rs.400 crore. Enhanced interest deduction up to 3.5 lakh for purchase of an affordable house. Deposit taking and systemically important non-deposit taking NBFCs can now pay tax in th....
X X X X Extracts X X X X
X X X X Extracts X X X X
....e year they receive interest for certain bad or doubtful debts. TDS of 2% on cash withdrawal exceeding 1 crore in a year from a bank account to promote less cash economy. * Effective tax rate for individuals having taxable income above 2 crore has been increased. * No charges or MDR on specified digital mode of payments. These modes are to be compulsorily provided by large businesses. Sabka Vishwas Legacy Dispute Resolution Scheme proposed for quick closure of service tax and excise related litigations. 9 REFORM, PERFORM, TRANSFORM Proposed further recapitalisation of PSBS: 70,000 crore Banking & IBC Record Recovery of Rs.4 lakh crore in last 4 years due to IBC and other measures GST Provision coverage ratio of banks h....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ighest in 7 years Average recovery under various recovery regimes (in %) 43 25 15 51155 23 45 35 DRT, SARFAESI, Lok Adalats, etc: 2007-17 Realisation by Financial Creditors under IBC: 2017-19 1. Taxpayers having annual turnover of less than 5 crore can now file quarterly returns. 2. Fully automated GST refund module shall be implemented. 3. An electronic invoice system is proposed that will eventually eliminate the need for a separate e-way bill. Further simplification of GST Processes SWACHH BHARAT More than 95% cities and 5.6 lakh villages declared ODF More than 45,000 public and community toilets uploaded on Google Maps To expand Swachh Bharat Mission to undertake sustainable solid waste management in every v....
X X X X Extracts X X X X
X X X X Extracts X X X X
....illage. 10 اس TRANSFORMING RURAL INDIA Pradhan Mantri Gram Sadak Yojana (PMGSY) Outlay (in \ crore) 19000 20000 15500 22.6% jump 15000 10000 5000 0 2018-19(RE) 2019-20(BE) Rural Electrification 100% Households Electrified UJALA leading to annual cost savings of 18,341 crore 35 crore LED bulbs UJALA scheme distributed so far under 11 • PMAY-G 1.5 crore rural homes completed 1.95 crore houses proposed for second phase. Average days for completion: 314 (2015-16) PMGSY 114 (2017-18) Completion Target advanced 2022 2019 97% of targeted habitations covered 30000 km built using green technology MGNREGA Outlay (in crore) 60000 9% jump 58000 55000 56000 54000 52000 60000 2018-19(BE) 2019-2....
X X X X Extracts X X X X
X X X X Extracts X X X X
....0(BE) FARMER WELFARE AND WATER SECURITY Boost to agro-rural industries through cluster based development under SFURTI scheme with focus on bamboo, honey and khadi clusters 100 new clusters to be set up to enable 50000 artisans during 2019-20 100 Business Incubators to be set up to enable 75000 entrepreneurs under ASPIRE Pradhan Mantri Matsya Sampada Yojana launched The scheme will address critical gaps in strengthening value chain, including infrastructure, modernisation, production, productivity and quality control Constitution of Jal Shakti Mantrayala ** 1592 critical and over exploited blocks identified under Jal Shakti Abhiyan To ensure Har Ghar Jal to all rural households by 2024 under Jal Jeevan Mission Focus on In....
X X X X Extracts X X X X
X X X X Extracts X X X X
....tegrated demand and supply side management at local level, creation of local infrastructure for rainwater harvesting, groundwater recharge and household waste water management 12 WOMEN'S DEVELOPMENT TO WOMEN LED DEVELOPMENT ↑ Allocation for ICDS (in crore) 70% of beneficiaries under MUDRA scheme are Women 2019-20 (BE) 2018-19 (RE) 20,000 23,357 27,584 22,000 24,000 26,000 28,000 F More than 7 crore connections already given 8 Crore free LPG connections to be given under Ujjwala Yojana • To expand women SHG interest subvention programme to all districts • Rs.1 lakh loan under MUDRA scheme for one woman in every SHG 13 LABOUR AND YOUTH WELFARE Pradhan Mantri Laghu Vyapaari Mann-Dhan Yojana ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....(PMLVMY) Pension benefits to around 3 crore retail traders and small shopkeepers with annual turnover less than 1.5 crore. Pradhan Mantri Shram Yogi Maan Dhan (PM-SYM) About 30 lakh workers have joined the scheme Rationalising of labour laws into 4 labour codes proposed. ↑ National Research Foundation to be established to fund, coordinate and promote R&D *400 crore provided for 'World Class Institutions' for FY 2019-20 Study in India: to bring foreign students to higher educational institutions National Sports Education Board to be setup under Khelo India. To prepare youth for new age skills: Artificial Intelligence, IoT, Big Data, 3D Printing, Virtual Reality etc 14 VISION FOR THE NEXT DECADE 1 Physical and so....
X X X X Extracts X X X X
X X X X Extracts X X X X
....cial infrastructure 2 Digital India 3 4 5 Pollution free India Make in India Water management and clean rivers. 6 Blue economy 7 8 Space programmes Self-sufficiency and export of food grains 9 Healthy society 10 Team India with Jan Bhagidari 15<BR> News - Press release - PIB....