Union Budget 2019 20: Key Highlights

Highlights:

• India the 3^rd largest economy.


• India a 3 trillion USD economy to grow to 5 trillion USD soon.


• Focus on Bharatmala and Sagarmala projects.


• 657 kms of metro network connectivity.


• Government to help Aircraft financing.


• FAME-2 (Faster Adoption and Manufacturing of (Hybrid) and Electric vehicles in India) to encourage Electrical Vehicles.


• Committed to last mile delivery.


• Believe in minimum Government-Maximum Governance.


• One nation – one grid for power connectivity.


• 59 min on top loan sanction scheme to MSME’s upto Rs. 1. Crore. (Rs.350 crs allocated).


• New law soon for people living in rent across states.


• Freight, passenger travel to get cheaper.


• Pension Benefit for 3 crores shopkeepers and traders by submission of Aadhar and self declarations.


• Infrastructure will need 30 trillion USD investment till 2030.


• Social enterprises, voluntary organization can get listed in a new social stock exchange.


• To do away with cross subsidy.


• Right time to increase public holdings in PSU’s.


• FDI inflows robust despite global headwinds.


• 100% FDI in Insurance Intermediaries permissible.


• Annual global investors meet proposed.


• Will open FDI in Aviation Media and Insurance.


• Will Merge NRI investment with FPI.


• Rural lives transformed with Ujwala Yojana.


• By 2022, every single rural family will have an electricity and clean cooking facility.


• PMAS-G to achieve Housing for All by 2022.


• PMGSY-II allocation of Rs.80250 crs (125000 kms) over next 5 years.


• SFRUTI – Scheme for Rural upgradation of traditional industries.


• ASPIRE – Develop 75000 skilled rural entrepreneur in Agro Rural Sector.


• 20 technology incubators to be set up.


• Water for all by 2024 – Har Ghar Jal Scheme.


• Swachh Bharat Abhiyan – 9.6 crore toilets constructed since 2014.


• PM Gramin Digital Saksharta Abhiyan – 2 crore Indians made digitally literate.


• Proposal to increase metro connectivity via PPP models.


• NPA’s dipped by Rs. l lakh crore.


• Recapitalisation of PSU Banks by Rs. 70000 crores.


• NBFC’s – liquidity support through banks mooted with one time guarantee of Rs. 10000 crores during this FY.


• Efficient regulation of housing important.


• Return regulation of housing from NHB to RBI.


• Will increase retail participation in CPSE’s.


• Strategic disinvestment of Air India.


• Rs. 105000 lakh crores for disinvestment.


• India’s foreign debt/GDP lowest.