2019 Interim-Union budget of India

The 2019 Interim Union Budget of India was presented by acting Finance Minister Piyush Goyal on 1 February 2019.^[3] The government introduced Pradhan Mantri Kisan Samman Nidhi and Pradhan Mantri Shram Yogi Mandhan.

2019 Union Budget of India

Emblem of India
Submitted	2 February 2019
Submitted by	Piyush Goyal, Minister of Finance (India) (Additional Charge)
Party	BJP
Total revenue	₹2,732,903 crore (equivalent to ₹34 trillion or US$400 billion in 2023)[1]
Total expenditures	₹3,401,639 crore (equivalent to ₹42 trillion or US$490 billion in 2023)[2]
‹ 2018 2019›

Highlights

In the budget, the fiscal deficit for 2019–20 will be 3.94% of GDP. The budget set aside ₹6,000 (US$70) for farmers having up to 2 hectares of land. The amount is available in 3 equal installments of Rs.2000 each under Pradhan Mantri Kisan Samman Nidhi. ₹3,000 (US$35) per month pension after 60 years of age to unorganized sector labor under Pradhan Mantri Shram Yogi Mandhan. Subscribers have to pay a monthly amount of Rs.100 if aged 29 years and Rs.55 if a subscriber is of 18 years of age. Income tax relief u/s 87A for income up to ₹500,000 (US$5,800). Standard deduction of ₹50,000 (US$580) for salaried class.^[4]

In the 2018 Budget, the outlay was revised for six key social schemes focused on enhancing the welfare of farmers and the poor, in addition to announcing a new scheme aimed at direct cash transfers to farmers. Apart from that, allocation across three other schemes focused on rural India have been raised.^[5]