Aadhaar for PAN, Rs 20 Coin & More: Key Highlights of Budget 2019

Aadhaar for PAN, Rs 20 Coin & More: Key Highlights of Budget 2019

India

Video Producer: Hera Khan

Video Editor: Purnendu Pritam

The Modi government’s new Finance Minister, Nirmala Sitharaman tabled the Union Budget on Friday, 5 July, stating that the Indian economy was well within the capacity to reach the $5 trillion target in the next few years.

She also said India would become a $3 trillion economy in the current year itself.

Here are some key highlights from Union Budget 2019.

HOUSING, ELECTRICITY, LPG & FUEL PRICES

  • In the second phase of PMAY-Gramin, 1.95 crore houses will be provided to eligible beneficiaries, during 2019-20 to 2021-22. These houses will have amenities such as LPG, electricity and toilets.
  • Proposal to make PAN card and Aadhaar card interchangeable and allow those who don't have PAN to file returns by simply quoting Aadhaar number.
  • By 2022, every single rural family except those who are unwilling to take the connection will have electricity and clean cooking facility.
  • Pradhan Mantri Gram Sadak Yojana - Phase 3 envisaged to upgrade 1.25 lakh km of road length at an estimated cost of Rs 80,250 crore.
  • Rs 100 lakh crore allocated for the infrastructure sector, with an expert committee to ensure ease of flow of funds.
  • Petrol and diesel to become Rs 2 dearer on imposition of special additional excise duty and road and infrastructure cess of Re 1 each.

Catch all the live updates from the Union Budget presentation here.

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INDIA INC AND NEW COIN SERIES

  • A new series of coins of Re 1, Rs 2, Rs 5, Rs 10 and Rs 20, easily identifiable to the visually impaired, will be made available for public use shortly.
  • A television programme on Doordarshan will be launched exclusively for start-ups and entrepreneurs.

EDUCATION

  • Government to bring a new national educational policy and allocate Rs 400 crore for world class institutions.
  • India has potential to become an educational hub, said Sitharaman while proposing ‘Study in India’ programme to attract foreign students.
  • National Sports Education Board will be set up under the ‘Khelo India’ scheme.
  • To sensitise youth on Gandhian values, Sitharaman said a 'Gandhipedia' is being developed in honour of Mahatma Gandhi’s 150th birth anniversary.

Also Read : Briefcase to ‘Bahi Khata’: FM Ends British Tradition on Budget Day

NRIs, FDI & MSMEs

  • NRIs with Indian passport to no longer required to wait for 180 days to get the Aadhaar card.
  • Proposed to further relax foreign direct investment (FDI) norms in the single brand retail sector with a view to attract more overseas investment.
  • Government to create payment platform for MSMEs.
  • Proposes 100% FDI for insurance intermediaries.
  • Pension benefit for about 3 crore retail traders and shopkeepers.
  • Sitharaman said the government proposes Pradhan Mantri Matsya Sampada Yojana to address critical infrastructure gap in fisheries sector.
  • Rs 1 lakh loan for women under interest subvention scheme.

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