Finance Minister presents Budget - Key highlights
July 5, 2019
Finance Minister Nirmala Sitharaman is presenting the first budget of the second term of the Narendra Modi government. This is the first budget for Sitharaman, who is the second woman finance minister after Indira Gandhi.
Here are the key announcements so far:
- India will become a $3 trillion economy in 2019. For this, there is heavy investment needed in infrastructure, digital economy, job creation.
- More women-led initiatives promised. One woman in every self help group will also be made eligible for a loan of Rs 1 lakh under Mudra scheme.
- Relaxation in FDI norms for some sectors such as media, aviation, insurance, and single brand retail with a view to attract more overseas investment.
- By 2022, every single rural family will have electricity, clean cooking facility.
- Pension benefit for traders, shopkeepers with sales less than Rs 1.5 crore per annum.
- One nation, one grid for electricity, one gas grid, one water grid and regional airports will be the backbone of business activity.
- Massive improvement in all forms of physical connectivity through trade corridors.
- India will become open defecation free by 2 October 2019.
- Study in India programme to bring foreign students in India.
- Special TV programme to exclusively cater to the Indian startups.
- Aadhaar card for NRIs with Indian passports after their arrival in India.