INSUBCONTINENT EXCLUSIVE:
Interim Finance Minister Piyush Goyal on Friday unveiled a modest farm support scheme, under which the government plans to offer income
support for marginal farmers at Rs 6,000 per year under a scheme called Kisan Samman Nish.
The scheme will benefit some 12 crore farmers
The FM set aside Rs 75,000 crore under the scheme.
Commenting on the same, noted economist Swanathana Iyer said the farmer income support
also raised allocation under MNREGA to Rs 60,000 crore for FY20
Another Rs 19,000 crore has been provided under the rural roads scheme for FY20
The FM also increased allocation under the Gokul Scheme to Rs 750 crore
The farmer income support scheme will cost Rs 75,000 crore per year, the Finance Minister said.
Expert Take:
Swaminathan IyerIncome support
banBiggest ever income-tax gimmickHuge appeal for middle class workersSops for middle class much bigger than those for farmersBudget may
help BJP win votes, but the math does not add upYogesh Mehta, MOSLPro poor and low income group will be biggest beneficiaries, farm
equipment, consumer, few auto could be in focusLaskhmi IyerFY19 fiscal deficit target at 3.4% in a tough environment ignites hopes for FY20
rationality.Bond yields have hence eased 4-5bps.Sanjay Sanghvi, Khaitan Co.Tax assessments to be done electronically without interface with
tax administration is a very good move.Full tax rebate for income up to 5 lakhsHelpful for small taxpayersFor people earning up to 6.50
lakhs a year also fully tax free if Rs 1.50 lakhs invested in prescribed tax saving avenuesHIGHLIGHTS:RURAL AFFAIRS India to allocate Rs
receive Rs 6,000 per year under new scheme Government to allocate Rs 60,000 crore for a rural employment scheme in 2019/20 India to allocate
