Highlights of Union Budget for 2019-20
New Delhi: Highlights of the Union Budget for 2019-20 presented by Finance Minister Nirmala Sitharaman in Parliament Friday:
► Tax deducted at source of 2% for cash withdrawals of over Rs 1 cr a year
► Surcharge hiked on individuals with taxable income above Rs 2 cr
► Effective tax rate on Rs 2-5 crore taxable income hiked by 3%
► Effective tax rate on over Rs 5 crore taxable income hiked by 7%
► Companies with turnover up to Rs 400 cr to pay 25% tax
► Aadhaar, PAN interchangeable for filing income tax returns
► To launch automated, faceless assessment of tax
► To make pre-filled tax return forms available
► Legacy dispute resolution plan to settle litigation in excise, service tax cases
► Fiscal deficit for 2019-20 at 3.3% of GDP
► Gross market borrowing pegged at Rs 7.1 lakh crore
► GST collections pegged at Rs 6.63 lakh crore
► Disinvestment target pegged at Rs 1.05 lakh cr
► Dividend income from state-owned companies seen at Rs 57,486 cr
► Dividend/surplus from RBI, financial institutions at Rs 1.06 lakh cr
► Customs duty on gold, precious metals hiked to 12.5%, from 10%
► Customs duty on stainless steel hiked to 7.5% from 5%
► Special Additional excise, road cess on petrol, diesel hiked by Re1/litre
► Tax deduction of Rs 1.50 lakh on e-vehicle loan interest
► Extra Rs 1.50 lakh tax deduction on affordable housing loans
► RBI, banks to absorb merchant discount rate at small shops
► To impose basic excise duty on tobacco products
► Excise duty of Rs 5/1,000 sticks imposed on filter cigarettes
► India now 6th largest economy vs 11th five years ago
► India to become USD 3 trn economy in FY20
► Well within capacity to reach USD 5-trln economy in few years
► To soon announce policy package for power tariffs
► PSU banks to get Rs 70,000 cr capital
► Housing finance cos to be regulated by RBI, as against National Housing Bank at present
► Proposed more power to RBI over NBFCs in Finance Bill
► One-time, six-month guarantee to PSU banks to buy some NBFC loans
► Strategic divestment of CPSEs to remain a priority
► Mulling below 51% stake in PSUs on case-to-case basis
► Govt to re-initiate process of Air India sale
► Plans to increase minimum public shareholding in listed cos to 35% from 25%
► Steps taken for easing angel tax issue of startups
► Startups, investors not to face scrutiny for share premium if they file return.
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Everything in my life began from here: Mamata after filing nomination for Bhabanipur seat
Kolkata (PTI): West Bengal Chief Minister Mamata Banerjee on Wednesday filed her nomination papers as the TMC candidate for the Bhabanipur assembly seat, and said everything in her life began from here.
Amid a sea of supporters raising slogans of 'Mamata Banerjee zindabad' and 'TMC zindabad', Banerjee led a roadshow from her Kalighat residence to the Alipore Survey Building, where she filed the nomination papers.
She walked nearly 800 metres with folded hands and her trademark smile, greeting party workers lined up on both sides of the road.
"I was born and brought up here in Bhabanipur only. Everything in my life began from here," Banerjee told reporters after filing her nomination papers.
Seeking support for the TMC beyond the Bhabanipur contest, she said, "I would appeal to the people, not just in Bhabanipur but across all 294 seats, to ensure the victory of our candidates. We will win with a bigger mandate."
The TMC had won 213 seats in the 2021 assembly polls.
Banerjee, however, expressed concern over the deletion of names from the electoral rolls and said her party would again move a court against the freezing of the voter list.
"I am really pained that so many names have been deleted from the electoral rolls. I fail to understand why the voter lists have been frozen. We will again move a court against it," Banerjee added.
The three-time MLA from Bhabanipur is set to take on BJP candidate Suvendu Adhikari in the high-profile contest.
Those who accompanied her during the nomination filing included Rubi Hakim, wife of Kolkata Mayor Firhad Hakim, TMC block president of Ward 71 Bablu Singh and Miraj Shah of the Bhabanipur Education Society.
Her family members also accompanied her.
The TMC projected Banerjee's roadshow and nomination filing as a message of Bengal's pluralist ethos in Bhabanipur, a constituency where Gujarati businessmen, Bengali families, Punjabi households and Muslim residents have lived side by side for decades.
The ruling party sought to portray Bhabanipur as a "mini-India" and a symbol of West Bengal's inclusive identity.
The elections to the 294-member West Bengal assembly will be held in two phases - on April 23 and 29. Votes will be counted on May 4.
