Union Budget 2019 - Sector Wise Dissection

Union Budget 2019 - Sector Wise Dissection

On Friday finance minister presented the 2019-2020 budget which deals with the changes India currently facing from the global impact of the petrol prices to environmental concern it reflects the need of new India which is laid down on the basic employment requirements, growth of the GDP and better infrastructure. Let us see how it will impact the pockets of different sectors of our society.

Middle class

This mass chunk of the population is considered as the biggest voter group in India, on which shoulder’s the country is standing yet every year budget fails to impress this class particularly and the whole burden of taxes are barred by them. But this year finance minister has tried her best to make their face little happy by giving an extra rebate of 1.5 lakh in the house loan deductions in taxes. This will be applicable to the houses which are up 45 lakhs and self-occupied. She has also made the Adhar card and Pan Card interchangeable with each other, which means people who are not having their own on Pan Card, can now fill up the tax with the help of Adhar card.

For the youth of India

New education policy and fee structures have been pushed to make India a better choice for studying for the home as well as foreign students. Setting up of the Higher Education Commission of India and National Sports Education Board is in the list of the government.

For women entrepreneurs

To increases, the participation of women self group has been introduced with interest intervention program n the wider base. Every verified customer will have a Jan Dhan Bank Account to be ever drafted with 5000 RS in it. She will be applicable for the loans up to 1 lakh rupees under the Mudra scheme.

For farmers, Pradhan Mantri Matsya Sampada Yojana has been made more robust to include the fisheries department and value the supply chain. Dairy industry cooperatives have been encouraged to create infrastructure for milk production and marketing. Creation of more 10,000 farmer-producer organization, to encourage more strengthened economical developmental sales in farmer’s income zone. 

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