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Minister for Finance, Corporate Affairs, lies, having cultivable land upto 2 hec- animal husbandry and fisheries, who
Railways & Coal, Piyush Goyal. Besides tares, will be provided direct income avail loan through Kisan Credit Card.
having a major Scheme for the farmers, support at the rate of 6,000 per year. Further, in case of timely repayment
it provides tax sops and sets the Devel- This income support will be transferred of loan, they will also get an additional
opmental Agenda for the years to come. directly into the bank accounts of ben- 3 per cent interest subvention.
A new deal for 12 crore small and mar- eficiary farmers, in three equal instal- Allocation of 750 crore for Rashtri-
ginal farmers with direct income sup- ments of 2,000 each. This programme ya Gokul Mission has been announced
port, a path breaking pension initiative will be funded by Government of India. for the current year itself. Setting up
for 10 crore unorganised sector work- Around 12 crore small and marginal of “Rashtriya Kamdhenu Aayog” to
ers, exempting income up to 5 lakhs farmer families are expected to benefit upscale sustainable genetic upgrada-
from Income Tax, reforms in stamp from this. The programme would be tion of cow resources and to enhance
duty, highest ever budgetary allocation made effective from 1st December 2018 production and productivity of cows
of 3 lakh crore for Defence, record al- and the first installment for the period has also been announced. The Aayog
location of funds at 58,166 crore for upto 31st March 2019 would be paid will also look after effective implemen-
North Eastern Areas, a new AIIMS for during this year itself. This programme tation of laws and welfare schemes
Haryana, single window clearance for will entail an annual expenditure of for cow.
Indian film makers at par with foreign- 75,000 crore”. PM-KISAN would not To provide pensionary benefits to
ers and higher budgetary allocations only provide assured supplemental at least 10 crore labourers and work-
for Education, Health, Infrastructure ers in the unorganised sector a new
and for the welfare of weaker sections Scheme called Pradhan Mantri Shram
including Scheduled Castes and Sched- Yogi Maandhan is announced. The
uled Tribes, a Separate Department of Railways, as per Finance Minister said that within next
Fisheries for welfare of 1.5 crore fisher- Goyal, saw its safest five years it would be one of the largest
man are some of the major highlights of pension schemes of the world. A sum
the Interim Budget 2019-20. year in the history of 500 crore has been allocated for
in 2018-19 and the the Scheme. Additional funds will be
Schemes for farmers provided as needed, Goyal added. The
New Scheme — Pradhan Mantri Kisan carrier has removed scheme will also be implemented from
Samman Nidhi (PN-KISAN) to extend the current year, he said.
direct income support at the rate of all unmanned railway
Rs. 6,000 per year to farmer families, crossing across all Tax benefits
having cultivable land upto 2 hectares Individual taxpayers having taxable
is announced. While presenting the the broad gauge annual income up to 5 lakhs will not
Interim Budget 2019-20, Piyush Goyal tracks in the country be required to pay any income tax. The
said, “Our government is launching a Finance Minister said that persons hav-
historic programme PM-KISAN with ing gross income up to 6.50 lakhs are
an outlay of 75,000 crore for the finan- not required to pay any income tax if
cial year 2019-20 and 20,000 crore income to the most vulnerable farmer they make investments in provident
in the Revised Estimates of 2018-19”. families, but would also meet their funds, specified savings and insur-
Under this Government of India fund- emergent needs especially before the ance etc. Additional deductions such
ed Scheme, 2,000 each will be trans- harvest season. PM-KISAN would pave as interest on home loan up to 2 lakh,
ferred to the bank accounts of around the way for the farmers to earn and live interest on education loans, National
12 crore small and marginal farmer a respectable living. Pension Scheme contributions, medi-
families, in three equal installments. To provide sustained and focused cal insurance and medical expenditure
This programme would be made effec- attention towards development of on senior citizens etc, are also provided
tive from 1st December 2018 and the Fisheries, the Government has de- for in the Interim Budget 2019-20. Thus
first installment for the period upto 31st cided to create a separate Department tax benefit of 18,500 crore is proposed
March 2019 would be paid during this of Fisheries. Finance Minister said that to be provided to an estimated 3 crore
year itself. through the measure, the government middle class and small taxpayers com-
To provide an assured income sup- wants to promote further growth over prising self employed, small business,
port to the small and marginal farm- 7 per cent to promote livelihood of small traders, salary earners, pension-
ers, the government is launching the about 1.45 crore people dependent on ers and senior citizens.
Pradhan Mantri Kisan Samman Nidhi the sector. The finance minister an- For salaried persons, Standard
(PM-KISAN). Under this programme, nounced 2 per cent interest subvention Deduction is being raised from the
vulnerable landholding farmer fami- to the farmers pursuing the activities of current 40,000 to 50,000. This will

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