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05/07/2019 11:09am

Key Highlights from Budget Speech

image Key Highlights from Budget Speech

New Delhi, July 5 (KNN) As Finance Minister Nirmala Sitharaman begins Budget Speech in Parliament, here are the few key highlights so far:

    ----  Our objective is for the Mazboot bharat

    ----  It is well within our capacity to reach $5 trillion economy in few years

    ----  Average amount spent on food security per year approx. doubled during 2014-19 compared to preceding five years

    ----  Between 2014 and 2019, we provided rejuvenated centre-state dynamic, cooperative federalism, GST Council and a strident commitment to fiscal discipline; set the ball rolling for New India

    ----  Indian economy will reach $3 tn in current year

    ----  From 1.85 trillion dollars in 2014, the economy has reached 2.7 trillion US dollars in five years

    ----  India Inc New india's job creators, wealth creators

    ----  It took us over 55 years to reach $1 trillion economy. But when the hearts are filled with hope, trust & aspiration, we in just 5 years, added $1 trillion

    ----  657 km of metro rail network has become operational in the country

    ----  Railway infra would need an investment of 50 lakh crores between 2018 and 2030; PPP to be used to unleash faster development and delivery of passenger freight services
    ----  We don't look down upon legitimate profit earning. Gone are the days of policy paralysis & license quota control regime.
    ----  India Inc are India's job creators, nation's wealth creators. Together with mutual trust we can gain, catalyse past & attain sustained growth.
    ----  Railway infra would need an investment of Rs 50 lakh crore between 2018 and 2030
    ----  FAME II scheme aims to encourage faster adoption of electric vehicles by right incentives and charging infra
    ----  A lobbying opportunity opens up in eligiiblity for e-vehicle subsidy
    ----  Several reforms would be undertaken to promote rental housing, current rental laws are archaic as they do not address lessor-lessee relationships fairly
    ----  Government envisions using rivers for cargo transportation, which will also decongest roads and railways
    ----  Comprehensive restructuring of National Highways Programme to be done, to ensure creation of National Highways Grid of desirable capacity
    ----  350 crore rupees allocated for 2% interest subvention for all GST-registered MSMEs on fresh or incremental loans
    ----  Schemes such as BharatMala, Sagarmala and UDAN are bridging rural urban divide and improving our transport infrastructure



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