Union Budget 2019 Highlights: Cash withdrawals over Rs 1 crore to be taxed at 2 per centhttps://indianexpress.com/article/business/budget/union-budget-2019-highlights-key-points-nirmala-sitharaman-5816372/

Union Budget 2019 Highlights: Cash withdrawals over Rs 1 crore to be taxed at 2 per cent

Union Budget 2019 India Highlights: The Budget is being presented at a time when unemployment has touched a 45-year high, and India lost its tag as the world’s fastest-growing major economy to China in the last quarter of the fiscal year.

Budget 2019 Highlights: Union Finance Minister Nirmala Sitharaman in Parliament. (LSTV screengrab)

Budget 2019 Highlights: India’s first woman Union Finance Minister in almost five decades, Nirmala Sitharaman is presenting the full-fledged Union Budget for the current financial year in Parliament.

Union Budget 2019: Follow LIVE updates here

Thanking voters for bringing back the Modi government to power for a second term, Sitharaman said, “The recent election was charged with brimming home and desire for a bright and stable ‘New India’. Voter turnout was highest; every section came to stamp their approval for performing Government”.

The Budget is being presented at a time when unemployment has touched a 45-year high, and India lost its tag as the world’s fastest-growing major economy to China in the last quarter of the fiscal year.

Budget Explained | Rs 70,000-cr capital infusion in PSBs will boost lending

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Here are the key highlights of the Union Budget 2019:

*India to be Open-defecation free by October 2, 2019

*Cargo movement in Ganga will increase 4 times in 4 years

*Cess on petrol, diesel raised by Re 1 per litre

*Every single rural family, except those unwilling to take connection, to have electricity, LPG connection by 2022

*PAN and Aadhaar card made interchangeable, allowing those who do not have PAN to file returns

*Government to streamline multiple labour laws into a set of four labour codes

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*Study in India programme to attract foreign students

*One woman in every SHG to get loan upto Rs 1 lakh under Mudra Yojana

*RBI to get regulation authority of housing finance sector

*Customs duty on certain parts of electric vehicles removed

*Power at affordable rates to states ensured under ‘One Nation, One Grid’

*TDS of 2 per cent on cash withdrawal of more than Rs 1 cr from a bank account

*Railway station modernisation programme to be launched this year

*Proposal to setup exclusive TV channel for startups

*Jal Jeevan Mission to achieve Har Ghar Jal (piped water supply) to all rural households by 2024

*Basic customs duty on auto parts, optical fibres, digital camera, cashew, certain synthetic rubber, vinyl flooring hiked

*Aadhaar card for NRIs with Indian passports to be issued after their arrival in India, without waiting for the
mandatory 180 days

*New series of coins of Re 1, 2, 5, 10, 20 easily identifiable for visually challenged to be made available for public use

*Blueprint for a national gas grid, water grid, i-ways and airports to be unveiled

*Funds raised by startups will not require any scrutiny by tax department

*Govt to build 17 iconic sites to encourage arrival of tourists in India

*Pradhan Mantri Gram Sadak Yojana phase 3 to upgrade 1,25,000 km of road length over the next 5 years

*Package for power sector tariff and structural reforms to be unveiled soon

*1.95 cr houses to be constructed under Pradhan Mantri Awas Yojana (PMAY) from FY20-22

*NRI portfolio route to be merged with FPI for seamless investment in stock markets

*Govt to liberalise FDI in aviation, media, animation and insurance intermediaries

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*10,000 new farmer producer organisations to be set up

*One hundred new clusters to be set up in 2019-20 to enable 50,000 artisans to come into economic value chain

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*Proposal to expand Swachh Bharat mission to undertake sustainable solid waste management in every village

*5 per cent customs duty imposed on imported books