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Union Budget 2019-2020 of India was presented by the Union Minister for Finance, Corporate
Affairs, Railways & Coal, Shri Piyush Goyal. The knowledge about yearly Union Budget is very
important from the examinations point of view. Many questions are based on the Annual Union
Budget in exams like UPSC, SSC, BANK PO, BANK Clerical etc. Also, it is the favourite topic of the
interview panel in various Job interviews. So, this article will help the students to understand
the Key Union Budget Highlights relevant to the exams.

Click Here to Download the Full Highlights of Interim Budget 2019-20:

Union Budget 2019-2020: Major Schemes launched

Pradhan Mantri KIsan SAmman Nidhi (PM-KISAN) announced in the
Union Budget 2019-20

 The PM-KISAN scheme aims to extend direct income support at

the rate of Rs. 6,000 per year to farmer families, having cultivable
land upto 2 hectares.

 The budget of PM Kisan scheme: Rs.75,000 crore for the FY 2019-

20 and Rs.20,000
crore in the Revised Estimates of FY 2018-19.

 Under the PM-KISAN, Rs.2,000 each will be transferred to the

bank accounts of around 12 crore Small and Marginal farmer
families, in three equal installments.

 This programme would be made effective from 1st December

2018 and the first
installment for the period upto 31st March 2019 would be paid
during this year itself.

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Separate Department of Fisheries announced:

 Separate department of fisheries announced to provide sustained

and focused attention towards development of Fisheries.

 The Government seeks to promote further growth over 7% to

promote livelihood of about 1.45 crore people dependent on the
sector.

Interest Subvention schemes for Farmers announced:

 A 2% interest subvention announced for the farmers pursuing the

activities of animal husbandry and fisheries, who avail loan
through Kisan Credit Card. In case of timely repayment of loan,
they will also get an additional 3% interest subvention.

 National Artificial Intelligence portal to be developed soon

 The ESI cover limit has been increased to ₹ 21,000. Minimum

pension was also increased to ₹ 1000.

Rs.750 crore for Rashtriya Gokul Mission

 Rs.750 crore allocated for Rashtriya Gokul Mission in this year.

 Setting up of "Rashtriya Kamdhenu Aayog" to upscale sustainable

genetic upgradation of cow resources and to enhance production
and productivity of cows has also been announced.

 The "Rashtriya Kamdhenu Aayog" will also look after effective

implementation of laws and welfare schemes for cow.

'Pradhan Mantri Shram-Yogi Maandhan' scheme announced:

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  The scheme will provide pension benefits to at least 10 crore
labourers and workers in the unorganised sector.

 It would be one of the largest pension schemes of the world

within next 5 years.

 A sum of Rs.500 crore has been allocated for the Scheme.

Tax Benefits
 No tax to be paid for annual income up to Rs.5 lakhs.

 People having gross income up to Rs. 6.50 lakhs are not required
to pay any income tax if they make investments in provident
funds, specified savings and insurance etc.

 Additional deductions such as interest on home loan up to Rs. 2

lakh, interest on education loans, National Pension Scheme
contributions, medical insurance and medical expenditure on
senior citizens etc, have also been proposed in the Interim
Budget 2019-20.

 Thus, tax benefit of Rs. 18,500 crore is proposed to be given to

approximately
3 crore middle class and small taxpayers.

 For salaried persons, Standard Deduction has been enhanced

from the current Rs.40,000 to Rs.50,000. This will provide
additional tax relief of Rs. 4,700 crore to more than 3 crore
salaried people and pensioners.

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Fiscal Deficit
 Fiscal deficit has gone down to 3.4% in 2018-19 RE from the high
of almost 6% seven years ago.

 As per the Interim budget 2019-20, Current Account Deficit (CAD),

against a high of 5.6% six years ago, is likely to be only 2.5% of
GDP this year.

Inflation
 The inflation has gone down to 4.6% over last five years, which is
lower than the inflation during the tenure of any other
Government.

 The Inflation in December 2018 was down to 2.19% only, as per

the Finance minister.

Growth and FDI

 India is the fastest growing major economy in the world with an
annual average GDP
growth during last five years higher than the growth achieved by
any Government since economic reforms began in 1991.

Enhanced allocations for major Schemes and

other announcements:
Click Here to Download the Full Highlights of Interim Budget 2019-20:

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Read the Full article at http://gosarkari.com/union-budget-2019-2020-
highlights-of-interim-budget-2019/

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Target HPAS 2019 – Online Test Series
About the Test Series:
 All the tests will be conducted online on a web based platform.
 Entire General Studies syllabus will be covered
 Special Focus on Current Affairs and NCERTs
 Instant Result with an ALL India Rank after each Test Attempt
 Timed environment as the real exam experience
 Tests as per the trend and pattern of HPAS Prelim exam
 Detailed Solution for each test after every test attempt
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 Detailed Evaluation Report – Know your Strong and Weak areas
 Access to Questions and Solutions till next HPAS Prelims exam
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General Studies (including 25 tests

Current Affairs)
Current Affairs Test 10 Tests
Total Tests 35 Tests

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