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July 05, 2019

Budget 2019 Highlights - PDF Download

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Finance Minister Nirmala Sitharaman today (5th July 2019) presents her 1st Union budget in Parliament. This is also the first Budget of the Narendra Modi-led NDA government in its 2nd term.This is overall 89th Budget of India.You can download the PDF Version of Union Budget 2019 highlights from the link given below. 

Download Highlights of Union Budget 2019 from HERE

Moving away from a British-era tradition, Sitharaman ditched the traditional briefcase that has been used by past finance ministers who have presented the budget. Instead, she chose to carry the Budget 2019 documents in a red cloth with National Emblem embossed on it. The four-fold cloth was tied with a yellow-red string in abow. Speaking about this unusual choice for carrying the Budget papers, Chief Economic Advisor Krishnamurthy Subramanian said, "Keeping Budget documents in the red cloth is in Indian tradition. It symbolises our departure from slavery of Western thought. It is not a Budget, but a 'bahi khata' (ledger)".
Nirmala Sitharaman Union Budget 2019 Pdf

Note : With this Budget presentation, Sitaraman became the 1st female full-time finance minister to present the Union Budget. [Former Prime Minister Indira Gandhi was the first and only women till now to have presented the Union Budget. In 1970, she presented the Union Budget of India for 1970-71, after she took over the finance portfolio following the resignation of Morarji Desai as finance minister.]

Among key announcement, Sitharaman said the government will launch an inter-opearable ATM-like One Nation One Card for pan-India travel, new rental laws for affordable housing and interest subvention scheme for MSMEs.  Here are the major Highlights of the Finance Minister's Budget Speech 2019. Happy Reading :)

Key Highlights of Union Budget 2019

  • Finance minister proposed to enhance surcharge on individual income of Rs 2-5 crore and over Rs 5 crore by 3% and 7% respectively. She said that those in the highest income bracket need to contribute more to national development.
  • Custom duty on gold and other precious metals from 10% to 12.5% has been proposed.
  • To provide further impetus to affordable housing, additional deduction of Rs 1.5 lakh on interest paid on loans borrowed up to March 31, 2020 for purchase of house up to Rs 45 lakhs.
  • Special additional duty and road and infrastructure cess on diesel and petrol to be increased by Re 1/litre.
  • "From 1.85 trillion dollars in 2014, the economy has reached 2.7 trillion US dollars; We can very well reach 5 trillion dollars in the next few years. The Indian economy will grow to become a 3 trillion dollar economy this year itself."
  • Government has already moved GST council to lower the GST rate on electric vehicles(EV) from 12% to 5%.
  • Finance minister said that the fiscal deficit in 2019 is 3.3%, brought down from 3.4%.
  • All companies having annual turnover of 400 crores, will now be under the bracket of 25% corporate tax rate . This will cover 99.3% of all the companies.
  • To provide further impetus to affordable housing, additional deduction of 1.5 lakh rupees on interest paid on loans borrowed upto 31 March 2020 for purchase of house up to Rs 45 lakhs.
  • 'Gandhi-pedia' too to be developed on the lines of encyclopedia to help promote Gandhian school of thought.

Union Budget 2019-20 Highlights (Sector-wise)


  • No change in personal income tax rates
  • Additional Rs 1.5 lakh tax relief on home loans
  • Govt hike custom duty on fuel by 1 rupee, gold and precious items; Petrol & diesel to get costlier
  • Increase in surcharge on super rich 3% surcharge on Rs 2 crore income; 7% on Rs 5 crore and above
  • Annual turnover limit for 25% Corporate tax raised to Rs 400 crore from Rs 250 crore
  • Taxpayers with annual turnover of less than Rs 5 crore to have to file only quarterly
  • Direct tax revenue has increased by 78%
  • Interchangeability of PAN and Aadhaar for ITR who don't have PAN cards

Affordable housing

  • Rental laws to be reformed. Modern tenancy law will be shared with states to promote house renting.

Digital payments

  • 2% TDS on withdrawals of Rs 1 crore in a year from bank accounts for business payments
  • No change on digital payment MDR charges waived on cashless payment

Ease of living

  • Rs 3,000 pension per month for informal sector workers
  • Aadhaar card under 180 days for NRIs on arrival in India
  • Govt to open embassies in countries where India doesn't have a resident diplomatic mission as yet.


  • Inter-operable One Nation One transport card National transport card for universal travel which can used on various modes of transport (road, railways etc). The card can also be used as a ATM card for withdrawing money.
  • Govt plans to create MRO (Manufacturing, Repair and Operate) industry
  • PPP to be used to unleash faster development and the delivery of passenger freight services.
  • Comprehensive restructuring of National Highways Programme for creation of National Highways Grid.
  • Government envisions using rivers for cargo transport,it will also decongest roads and railways.
  • Affordable housing Govt will provide additional income tax deduction of Rs 1.5 lakh on the interest paid on the loans taken to purchase EVs


  • Fiscal deficit in FY19 at 3.3% of the GDP
  • Govt will start raising part of borrowing in foreign currency
  • Govt external debt to GDP is among the lowest in the world.

Women empowerment

  • Nari tu Narayani Women SHG Interest Subvention Programme to be expanded to all districts in India
  • Rs 1 lakh loan to be provided for SHG women members
  • Every verified woman SHG member having a Jan Dhan account can avail Rs 5,000 rupees overdraft facility

Banking reforms

  • On purchase of high-rate pooled assets of NBFC amounting of Rs 1 lakh core in this FY, govt will provide one-time 6 month credit guarantee
  • Propose to provide Rs 70,000 crore capital for PSU Banks
  • Regulation of HFCs (Housing Finance Cos) to move to RBI from National Housing Bank


  • Govt to modify present policy of retaining 51% stake in PSUs
  • Govt to continue with strategic divestment of select CPSEs.
  • Divestment target of Rs 1.05 lakh crore for FY20


  • A new PPP model will usher the new dawn of Indian railway.
  • Railways to be encouraged to invest more in suburban rail network via SPVs
  • Railway infrastructure will need an investment of Rs 50 lakh crore between 2018 and 2030.


  • Propose easing angel tax for startups
  • Angel tax Wont require scrutiny from Income Tax department for startup
  • 2% interest subvention for GST-registered MSME on fresh or incremental loans.
  • ‘Stand Up India' Scheme to continue till 2025
  • Propose to commence television channel for start-ups
  • To extend pension benefit to retail traders with annual turnover less than Rs 1.5 crore
  • New payment platform for MSMEs to be created


  • Govt to launch 'Study in India' programme to attract foreign students in higher education
  • Allocate Rs 400 crore for world-class higher education institutions in FY20 .
  • To unveil new education policy.
  • National research foundation to fund, coordinate and to promote research in the country.
  • New Higher Education Commison with focus on higher autonomy
  • New national education policy to propose changes in school, higher education


  • 17 iconic world-class tourist sites to be developed


  • Local sourcing norms will be relaxed for the Single brand retail sector
  • Govt of open FDI in aviation, insurance, animation AVGC and media


  • Existing KYC norms for FPIs to be rationalized and simplified to make it more investor-friendly
  • Long-term bonds for market
  • To allow FIIs & FPIs investment in debt securities issued by NBFCs
  • Credit Guarantee Enhancement Corporation to be set up long-term bonds with specific focus on infra sector
  • Propose Social Stock Exchange under SEBI for listing social enterprises & voluntary organisations
  • To merge NRI portfolio route with FPI route
  • To hike statutory limit for foreign investment in some companies
  • To set up a credit guarantee enhancement corporation
  • Govt will take up measures to make RBI & SEBI depositories inter-operable
  • SEBI to mull increasing minimum public shareholding to 35% from 25%
  • User friendliness of trading platforms for corporate bonds will be reviewed, including issues arising out of capping of International Securities Identification Number
  • To deepen corporate tri-party repo market in corporate debt securities. Plan to enable stock exchanges to allow AA rated bonds as collaterals.
  • Annual Global Investors' Meet for attracting global players to come and invest in India.
  • To allow FPIs to subscribe to listed debt papers of REITs

Auto sector

  • FAME II scheme aims to encourage faster adoption of electric vehicles by the right incentives and charging infrastructure

For Rural India

  • Gaon, Garib and Kisan are the focus of our government
  • New Jal Shakti ministry will work with states to ensure Har Ghar Jal for all rural houses by 2024.
  • Pradhan Mantri Gram Sadak Yojana phase 3 is envisaged to upgrade 1,25,000 km of road length over the next 5 years.
  • Govt will set up 100 new clusters for 50,000 artisans in FY20
  • To invest Rs 80,250 cr for upgradation of roads under PM Gram Sadak Yojana
  • Every single rural family except those unwilling to have electricity by 2022


  • Govt to promote innovative 0 Budget farming.
  • 10,000 new farmer producer organisations.
  • 80 Livelihood business incubators and 20 technology business incubators to be set up in 2019-20 under ASPIRE to develop 75,000 skilled entrepreneurs in agro-rural industries
  • India has emerged as a major space power. It is time to harness our ability commercially.
  • A public sector enterprise, New Space India Limited (NSIL) has been incorporated to tap benefits of ISRO


  • To popularise sports at all levels, National Sports Education Board for development of sportspersons to be set up under Khelo India.

State of the economy

  • Railways will require investment of Rs 50 lakh crore from 2018-30
  • Schemes such as BharatMala, Sagarmala and UDAN are bridging rural urban divide and improving our transport infrastructure.
  • Gandhipedia' is being developed to sensitize the youth about positive Gandhian values
  • The unambiguous mandate by the people in the recent election has set the ball rolling for the New India
  • NPAs recovery of Rs 4 lakh crore over the last four years, NPAs down by Rs 1 lakh crore in the last one year
  • Rashtriya Swachhta Kendra to be inaugurated at raj ghat on Oct 2
  • The people of India have validated their two goals for our country's future national security and economic growth.
  • ' Yakeen ho to koi raasta niklata hai, hawa ki awt(protection) bhi le kar chiragh jalta hai'
  • It took us over 55 years to reach $1 trillion dollar economy, but we added $1 trillion in just 5 years
  • We can very well reach $5 trillion in the next few years.
  • Last mile delivery stood out, citizens in every nook and corner of the country felt the difference; our objective was and continues to be Mazbooth Desh Ke Liye Mazbooth Nagarik
  • Government lays out 10-point vision for the New India
  • India will become $3 trillion economy this year. We need to continue to take many structural reforms to achieve $5 trillion economic goal.
  • Connectivity is the lifeline of the economy.
The team that helped Finance Minister Nirmala Sitharaman in preparing 2019 Budget are :
    • Krishnamurthy Subramanian (Chief Economic Adviser)
    • Subhash Chandra Garg (Economic Affairs and Finance Secretary)
    • Ajay Bhushan Pandey (Revenue Secretary)
    • Rajiv Kumar (Department of Financial Services Secretary)
    • Atanu Chakraborty (Department of Investment and Public Asset Management Secretary)
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