Budget 2019 LIVE: Govt Disappoints Middle Class, Makes No Change in Income Tax; 12 Crore Farmers to Get Rs 6,000 a Year as Cash Transfer

Budget 2019 LIVE: Disappointing the middle class months before hoping to get re-elected in Lok Sabha polls, the Narendra Modi government has made no change in income tax slabs. In the run-up to the budget, it was expected that Finance Minister Piyush Goyal would raise the income tax exemption limit or at least increase deduction limit under 80C to Rs 2 lakh from Rs 1.5 lakh. Among the major sops, Piyush Goyal has announced Rs 6,000 per annum direct cash transfer to farmers owning less than 2 hectares of land. The move, months before general elections, is likely to benefit 12 crore farmers. Rs 60,000 crore has also been set aside for MGNREGA, the rural employment scheme, with Piyush Goyal adding that the allocation can be increased further. The Finance Minister says a national cow commission for the welfare of cows would also be set up. The gratuity limit has also been increased to Rs 30 lakh.

Courtesy : NEWS 18