INDIA'S BUDGET 2019

On 5th July 2019, our honourable finance minister Nirmala Sitaram announced the 2nd session of budget under the survillance of our Prime Minister Mr. Narendra Modi and their Party (BJP) in the Parliament.

    This budget has a brighter side for poor people and on the other hand has a darker side for rich people.
             Some of the highlighted points are discussed below:-

• On electric car purchase additional tax benifit of 1.5 lac on interest. Tax on electrical vehicles is reduced from 12% to 5%.

• There is no change in income tax slab for those who have income upto 5 lacs. These will have to pay no tax at all.

     Those who have income above 5 lacs will have to pay certain amount of tax depending on their income.

• For home loans upto 45 lacs will get additional 1.5 lac benifit in income tax on loan interest so total it will become 3.5 lacs.

     But this scheme is only valid for the home loans before 31 march 2020 sanctioned under the loan of 15 years.

There will be a large investment of 400 crores on the making of educational institutes.

• Will bring a new educational policy to propose changes in school and for higher education.
• Propose to set up a national research foundation to fund,coordinate andto promote research in the country.

• Just like wikipedia,gandhipedia was also being to be developed which contains the thoughts and ideas of Gandhi Ji.

• To liberise FDI in aviation,media,animation and insurance intermediates.

• To focus on training new age skills like AI,robotics and 3D printing.

• A new series of coins of Rs. 1,2,5,10 and 20 easily will be made available for public use shortly.
• Government proposed to expand Swachcha Bharat to include solid waste management in every village.