Budget 2019: Key highlights from Piyush Goyal’s media interaction

More relief for taxpayers in the main budget after polls I had the constraint of this being an interim budget. However, there were many things which could not have waited for the final budget, particularly relief for small taxpayers, which I have passed on. The rest is for the then finance minister to decide in July 2019. I have already said thanks to the taxpayers who have honestly paid their taxes and helped create infrastructure and successfully run so many schemes such as Saubhagya.

Rationale for providing relief to taxpayers with annual income of Rs 5 lakh This neo-middle class required certainties about their future tax liabilities and save them from refund process, we have given benefit to this category.

Fiscal deficit

Given the new number of GDP coming out, the fiscal roadmap may not change very much. We have maintained fiscal prudence.

Faster and more tax-friendly structure
All returns will be processed in 24 hours and refunds issued simultaneously. The government has now approved a pathbreaking, technology intensive project to transform the Income-Tax Department into a more assessee-friendly one.

Income support scheme for small farmers through direct benefit transfer
We are paying respect to our farmers who ensured that today we enjoy food security. Only record available right now is based on the land holding for farmers across the country. This scheme will be for the farmer having land holding of 5 acres. Also, no correlation of the income scheme with other subsidy.

Farm loan waiver
Congress in 2008 announced a loan waiver without any budgetary provision. Wrong people were given farm loan waivers and the CAG report points it out. We, however, in every budget have added value to the farmers’ lives.