Sector-wise Key Highlights of Budget 2019

Sector-wise Key Highlights of Budget 2019

By- Lakshita Sharma (LLB)


  • Personal income tax rates remained unchanged.

  • Additional relief of Rs.1.5 lakh on home loans.

  • Custom duty hike of rupee 1  on gold, precious items.

  • Cess of Rupee 1 per litre on petrol, diesel.

  • Surcharge rate increase on super rich. 2-5 crore income=3% surcharge, 5 crore or more= 7% surcharge

  • Taxpayers having turnover below Rs. 5 crore need to file only quarterly.

  • Annual turnover limit for 25% corporate tax slab has been raised to Rs.400 crore from Rs.250 crore

  • Revenue from direct tax has grown by 78%.

  • For filing ITR, Interchangeability of PAN and AADHAAR. In case the Taxpayer does not have Aadhaar Number, can file Tax by PAN No.

  • Customs duty of 5% levied on imported books

  • Custom duty exemption to certain parts of electric vehicles.

Ease of living

  • Now NRIs with Indian passport can get Aadhaar Card under 180 days.

  • Shopkeepers with annual turnover of less than Rs. 1.5 crore to get pension benefit.

  • Embassies propped to be opened in countries where India does not have a resident diplomatic mission.

  • Proposal to streamline labour laws into a set of 4 labour codes

Housing to get affordable

  • In order to reform rental laws and to promote house renting, sharing of modern tenancy law with states

To Boost Digital payment

  • Withdrawal of Rs.1 crore in a year from bank accounts for business payment shall attract a charge of 2% TDS

  • Cashless payment is waived off from MDR charges.

Reforms in Banking

  • One-time 6 months credit guarantee on purchase of NBFC amounting to Rs. 1 Lakh crore in this FY.

  • PSU bank to get Rs.70,000 crore capital

  • Regulation of HFCs( housing finance companies) to shift from National Housing Bank to RBI


  • New PPP model to be launched

  • More Investment in Suburban rail network


  • Fund raised by Start-Ups does not need to be scrutinized by I-T department

  • GST-registered MSME to get 2% interest subvention on fresh or incremental loans

  • Continuation of Start-Up India Scheme till 2025

  • A new television channel dedicated to start-ups.

  • New Platform for MSME to make payment is to be created


  • A new programme named “study in India” to be launched to attract more foreign students in higher education

  • To create a world-class higher education institution, the allocation of Rs.400 crore is to be made in FY20

  • A new National Research Foundation to coordinate, fund and promote research in the country.

  • New education policy to suggest reforms in schools, higher education institutions

Empowering Women

  • Nari Narayani- Women SHG Subvention Programme shall be extended to all district in India.

  • SHG women to get Rs 1 lakh loan.

  • Overdraft facility of Rs. 5000 to every verified woman SHG member having JanDhan account.


Under Khelo India Scheme, to promote sport at all levels and for the development of sportspersons, a National Sport Education Board has been set up


  • Development of 17 iconic world-class tourist sites

Foreign Direct Investment

  • FDI proposed in aviation, insurance, animation AVGC and media

  • More relaxed local sourcing norms for retailer of a single brand.


  • A Rationalized and simplified version of KYC norms for FPIs

  • Long term bonds for market

  • FIIs and FPIs investment to be allowed in debt securities by NBFCs

  • Social Stock Exchange for listing social enterprises and voluntary organizations, regulated by SEBI

  • The merger of FPI route and NRI portfolio route.

  • Increase in the statutory limit to make foreign investment in some companies

  • Setting up of Credit guarantee enhancement cooperation

  • RBI and SEBI depositors to be made inter-operable

  • For deepening corporate tri-party repo market in corporate debt securities, stock exchanges to permit AA rated bonds as collateral

  • SEBI to mull hike in minimum public shareholding from 25% to 35%

  • To attract global players for investment in India, the organization of Annual Global Investors’ Meet.

Auto Sector

  • For encouraging adoption of electric vehicles, FAME II scheme to provide incentives and right charging infrastructure.

Rural India

  • The focus of govt. gaon, Garib and Kisan

  • To achieve an aim of Har Ghar Jal in all rural houses by 2024, the formation of a new Jal Shakti Ministry

  • Proposed setting up of 100 new clusters for fifty thousand artisans in FY20

  • Govt’s vision to upgrade 1,25,000 km of road length over the next 5 years under phase 3 of PM Gram Sadak Yojana

  • Each rural family to have LPG chulha and electricity by 2022, except those unwilling to have


  • Invocative zero budget farming is to be promoted

  • Around 10,000 new farms produce organizations

  • Under ASPIRE, Livelihood business incubators(80) and technology business incubator(20) is proposed to be set up in 2019-20 with an aim to develop skilled entrepreneurs in agro-rural industries.


  • New Space India Limited (NSIL), a public sector enterprise has been set up to tap benefits of ISRO

Click here to know more about the majors 100 highlights of Budget-2019

Socio-economic measures

  • Gandhipedia- to sensitize youth with Gandhian philosophy

  • BharatMala, SagarMala and UDAN like schemes are filing rural-urban gap and giving us improved transport infrastructure.

  • NPAs got down by Rs1 lakh crore the previous year.

  • Rashtriya Swachhta Kendra to be open at Rajghat on 2nd October

  • A 10 point vision for New India was laid down by Government.

  • This year India is expected to become $3 trillion economies,  various structural reforms are on the way to achieve a goal of $5 trillion economies.


eStartIndia Team

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