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$ & D3# -,& E# $ & E# E #%&'#()*+, *!*!+ "'() ,( '!!' / !3F 3* 3' G '(3*(('( ! " # ""#$!#% %#%#% 3!((3!( N/'(3O3'((93')! *('B ! #&#%%# !"04##$ ?0 H( $( #-# - .-./)01 )+2 !""# Government has also tried to Narendra Modi said the Family members may bring scheme will result in the dation roadmap of bringing it prepare a narrative that could Interim Budget was merely a down the landholding to avail Government breaching its 3.3 down to 3.1 per cent in 2019- ith an eye on the forth- be used to silence the “trailer” of what will guide of the benefits, affecting the per cent fiscal deficit target 20 and 3 per cent in 2020-21. Wcoming Lok Sabha Opposition and help the BJP in India towards prosperity after farm earning. from the current year. “We would have main- elections, Finance Minister convincing the voters that the the Lok Sabha polls, Congress The stock market gave the The populist measure will tained fiscal deficit at 3.3 per Piyush Goyal on Friday promise of “achchhe din” may president Rahul Gandhi said Budget the thumbs up with have far reaching impact on the cent for the year 2018-19 and offered a bouquet of relief to become a reality if Prime that the Government was giv- consumption, agriculture, and Government fiscal consolida- taken further steps to consoli- farmers, taxpayers, unor- Minister Narendra Modi gets a ing 17 a day to farmers after auto stocks stealing the show, tion target. For the next fiscal date fiscal deficit in the year ganised sector work- second term in office. “destroying” their lives in last but banking stocks remained also, Goyal pegged the fiscal 2019-20. However, considering ers, and real estate As expected the five years. depressed with the announce- deficit at 3.4 per cent of the the need for income support to developers. In the Government has kept its focus The sops offered by the ment that farm income support GDP, up from fiscal consoli- farmers, we have provided process, he slipped on large chunk of voting com- Government will undoubtedly 20,000 crore in 2018-19 RE on the fiscal munity — farmers, taxpayers, help it in the elections, but their (Revised Estimate) and 75,000 deficit target, and housing sectors that pro- implementation will be an crore in 2019-20. If we exclude raising concerns vides employment to millions arduous exercise. In a country this, the fiscal deficit would from various of laborers. The promise of with no reliable job data in the have been less than 3.3 per cent rating and bro- pension to workers of unor- unorganised sector, how the for 2018-19 and less than 3.1 kerage agen- ganised sectors is also seen as beneficiates will be identified is per cent for the year 2019-20,” cies. major decision that could be a million dollar question. !)!( way for revenue spending,” he said. The thrust turned into a “catch line” to For example, whether a Crisil said in a note on Friday. With farming community of the Budget is woo the poor. rickshaw-puller earns 15,000 ating agencies led by Crisil Meanwhile, it’s peer Icra up in arms against the on wooing The Budget exempted peo- or 20,000 a month is not eas- Rhave raised concerns over termed the “sharp rise” in rev- Government, Goyal both urban and ple with an earning of up to 5 ily verifiable. In most cases, the the curtailed capital spending enue deficit a “concern”. announced an direct income rural voters who lakh from payment of income Government may not have any to cap fiscal deficit at 3.5 per Terming the inability to support scheme for 12 crore rejected the BJP in tax and offered an annual cash option but to either go by self cent for FY18, and have warned meet fiscal deficit target for small and marginal farmers by the recent Assembly dole-out of 6,000 to small claim or determine an earnings the higher target for next fiscal four consecutive years as a big providing 6,000 in their bank elections of Madhya farmers while unveiling a estimate in various sectors. will delay the fiscal consolida- “credit negative” for the sover- accounts in three equal install- Pradesh, Chhattisgarh scheme to provide a monthly Similarly, the identifica- tion process by three years. eign, global rating agency ments in a year. and Rajasthan. By pension of 3,000 to workers in tion of farmers with up to two “It is the productive spend- Moody’s doubted if the coun- This is estimated to cost making a big pop- the unorganised sector. hectare holding is also not ing in the economy that has try will meet even the 3.4 per- 75,000 crore annually to the ulist push, the While Prime Minister going to be an easy exercise. seen a compromise, making cent fiscal gap target for FY20. Government. # #$ 4 -###- - =&. #-## $ # - #,O $ - & # , # !$ B7% $## #! - # . # ,$- B$!% > # % #-# # , % # About 20,000 crore extra $A5 " $ ?%555 % has been provided for the ( ? #" / 3 %##-## - - 055 n a move to provide an scheme in the revised esti- # ##$ > # $ ( %, Iassured income to the small mate for the current fiscal. -# $ =5 and marginal farmers, the The Finance Minister said, 4 - $ #0/ 3 (## Modi Government on Friday “This initiative will benefit 12 $ ! ! $ - 3 ##-05 announced a slew of measures, crore small and marginal farm- including direct income sup- ers, at an estimated cost of # .@%0== , $ 65%555.5%555 / ! $ 40 &! port of 6,000 per year. 75,000 crore.” B$! - Presenting the Interim The Finance Minister said, / # - - #C -$$ Budget for 2019-20, acting “This programme will be fund- 05#,?5#, / 3$ ## $ Finance Minister Piyush Goyal ed by the Government of India. 3 ## ' /, #! said under the Pradhan Mantri The programme would be # % 1.5 & Kisan Samman Nidhi (PM- made effective from December ! 0&@#, # ## 4&6#, # - $$ KISAN), 6,000 annual sup- 1, 2018 and the first installment 3 ## 3 ?&6 port will be provided to farm- for the period up to March 31, ers with land holding of two 2019 would be paid during this "# hectare or five acre. year itself.” The new scheme will be Union Agriculture implemented from December Minister Radha Mohan Singh 1, 2018 and the amount will be hailed the Budget and termed paid in three installments of its historic one for farmers. 2000 (every four months) The assured income sup- Section 80-IBA of the Income in which the project is com- through direct benefit transfer. port is seen as an attempt to Tax Act for one more year to pleted. “Currently, income tax As many as 12 crore small and assuage the farming commu- n a bid to boost the housing housing projects. It applies to on notional rent is payable if marginal farmers are expected nity’s discontent ahead of the Isector which is facing a multi- the projects approved till March one has more than one self- to benefit from the scheme. general elections. The direct year demand slowdown, the 31, 2020. This proposal would occupied house. Considering Farmers who are sowing rabi cash transfer was one of the ism that this government Narendra Modi Government boost supply of affordable hous- the difficulty of the middle crops during the ongoing rabi highly anticipated and talked seems to pride itself on. But on Friday proposed many tax ing. Under Section 80-IBA, class having to maintain fami- season will be benefitted from about schemes in the interim iyush Goyal delivered the Narendra Modi was elected on sops to incentivise purchase of 100 per cent deduction of prof- lies at two locations on account the scheme. Budget 2019. Phis first budget in the Lok the promise of changing India, second homes, and also its is being provided to an of their job, children’s educa- Sabha, and while it was an delivering growth and jobs announced relief for realty to individuals’ tax payers that assessee engaged in developing tion, care of parents etc. I am interim budget, it was that in that the allegedly corrupt UPA firms by extending tax rebate on would boost the real estate and building affordable housing proposing to exempt levy of all but name. With sops and had failed to deliver. development of affordable sector. The Budget announced projects subject to certain con- income tax on notional rent on allocations increasing, Prime He came to power promis- housing until next fiscal and not that capital gains of up to 2 ditions related to carpet area a second self-occupied house,” Minister Narendra Modi’s ing to break the hold of Delhi’s charging tax for two years on crore could be rolled over for among others. the Finance Minister said. hand was all over this budget. power-brokers and middle- notional rent of unsold units in investment in two housing To give impetus to the real The Union Budget also Even with recalculated figures men and but only now, months the Interim Budget 2019-20 to units from the current one estate sector, the Budget pro- proposed that the Tax that display some growth, evi- before elections are these net- revive the housing sector. unit only. posed to extend the period of Deduction at Source (TDS) dence of that growth is hard to works being attacked. But most Presenting the Interim It also exempted tax on exemption from levy of tax on threshold for deduction of tax come by. While the govern- importantly, Modi had Budget for 2019-20, Union notional rent on a second self- notional rent, on unsold inven- on rent to be increased from ment might have disowned promised to modernise India, Finance Minister Piyush Goyal occupied house.

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