New Delhi:
Union minister Piyush Goyal presented the election year Interim Budget in parliament today and announced major relief for farmers and individual taxpayers. This was the last Interim Budget of the NDA government led by Prime Minister Narendra Modi before the Lok Sabha elections due by May. With the Lok Sabha election just months away, the government kept the budget focussed on immediate relief such as easing income tax rules, favourable loan terms for small businesses, farm loan waiver and even direct cash transfers to small farmers. The government said it will send Rs. 6,000 to small farmers directly into their bank accounts in a scheme that will be funded 100 per cent by the centre. The programme will cost Rs. 75,000 crore. Piyush Goyal’s turn to reveal the contents of the Union Budget briefcase in the crucial national election year came after Finance Minister Arun Jaitley had to go on leave and fly to the US for treatment. Yesterday, the government said its estimate of Gross Domestic Product (GDP) growth for fiscal 2018 was 7.2 per cent, significantly higher than 6.7 per cent earlier.
In an interview with news agency ANI, Arun Jaitley hit out the opposition for “shedding crocodile tears” for farmers and said they opposition parties can top up the central scheme. He added that it not the responsibility of only the federal govt.
Key Points From Arun Jaitley’s interview:
- India’s middle class has been vastly strengthened over the past few years
- The productivity of the Indian farmer has gone up significantly
- Income support not loan waivers are never a solution to the farmers’ problems
- Please don’t shed crocodile tears today for farmers. If opposition also has several governments, let them announce similar schemes
Arun Jaitley speaks to news agency ANI:
What did the UPA do in their 10 years in power? A one time loan waiver of 70,000 crores. Only 52,000 crores were waived off & CAG report was that out of that Rs. 52000 crore a significant part of money went to traders and businessmen and not to farmers.
Jharkhand Chief Minister Raghubar Das on Union budget
This budget reflects Prime Minister Narendra Modi’s ‘Sab ka Saath Sab ka Vikas’ vision, keeping the poor, labourers, youth, women, farmers and rural development as focus areas.
Union Budget 2019: “Budget Disappoints Delhi,” Says Arvind Kejriwal
“Final jumla of Modi govt: it’s interim budget too completely disappoints Delhi. Our share in central taxes remains frozen at Rs. 325 crore & nothing earmarked for local bodies. Delhi continues to be on its own financially,” Delhi Chief Minister Arvind Kejriwal tweeted.
Union Budget 2019: PM Modi Sums Up Interim Budget In Election Year
“India is eradicating poverty at a record pace. It takes care of all sectors and classes. This budget is an important step to strengthen the nation,” Prime Minister Narendra Modi said hours after Piyush Goyal presented the Interim Budget.
“In a way, PM Kisan Yojana is the biggest scheme for farmers since Independence… For years, there has been a demand to exempt Rs. 5 lakh annual income from tax. We have done it,” he added.
“Over 12 crore farmers and their families, over three crores salaried professionals and their families will gain thanks to the Budget for new India. It is good to see more people being removed from the shackles of poverty. Our neo-middle class is rising and so are their dreams,” PM Modi said.
“The unorganised sector needed more safeguarding of their interests and the Budget has done so. The PM Shram Yogi Man Dhan Yojana will strengthen their lives. Ayushman Bharat Yojana and social security schemes are also going to touch their lives,” PM Modi said.
Union Budget 2019: “Destroyed Lives Of Farmers,” Says Rahul Gandhi
“5 years of your incompetence and arrogance has destroyed the lives of our farmers. Giving them Rs. 17 a day is an insult to everything they stand and work for,” Congress president Rahul Gandhi tweeted. Former finance minister P Chidambaram said that according to his calculations, the direct cash transfer of Rs. 6,000 promised by the Modi government comes to Rs. 17 per day for a farmer family.
Union Budget 2019: “Government Wanted To Confuse People,” Says P Chidambaram
“Every year the allocation for defence grows up, say by 10 per cent or so. There is nothing unusual about it. Some years ago it crossed Rs. 1 lakh crore, then it crossed Rs. 2 lakh crore… it will grow again next year, very normal,” Congress leader P Chidambaram said. “Fishermen have got a department; they have not got money… And according to my calculations it is Rs. 17 a day for a farmer family. It’s not a vote on account; it’s an account for votes.”
“While I advocate the use of both Hindi and English as official languages, no one intended them to be used alternatively. Result was people who did not understand English, did not understand half of the budget and people who did not understand Hindi, did not understand the other half. The intention was to confuse people even if for a day,” P Chidambaram said.
Union Budget 2019: Piyush Goyal Sums Up Budget Speech In Press Conference
“We have set up a Rashtriya Kamdhenu Aayog to ensure cows are respected. For this we have allocated Rs. 500 crore.”
“Many times, people from big khandans (families) don’t understand the condition of small farmers from their air-conditioned rooms.”
“This budget has many measures for the middle class.”
“The record allocation for defence shows the Narendra Modi government’s commitment to securing the country.”
“Being an Interim Budget, there were several things we wanted to do that we couldn’t. But the idea was to take development to every individual.”
“Our government has initiated the world’s largest behavioural change movement with the Swachh Bharat Mission. India has achieved 98 per cent rural sanitation coverage and as many as 5.45 lack villages have been declared open-defecation free,” Piyush Goyal said.
Union Budget 2019: Top 5 Announcements By Piyush Goyal In Election Year
Individual taxpayers with annual income up to Rs. 5 lakh will get full tax rebate. Individuals with gross income up to Rs. 6.5 lakh will not need to pay any tax if they make investments in provident funds and prescribed equities. Around three crore middle class taxpayers will get tax exemption due to this measure.
“The budget has met the expectations of farmers, labourers and middle class. By bearing a cost of Rs. 75,000 crore, the government will implement the Pradhan Mantri Kisan Samman Nidhi scheme. This scheme will also benefit those farmers who do not take loans,” BJP president Amit Shah said.
