Budget 2019 Highlights - By Finance Minister Smt. Nirmala Sitaraman

The Indian Finance Minister Smt. Nirmala Sitharaman is giving her maiden Budget in Parliament today. Key Highlights of the Union Budget 2019 By Indian Finance Minister - Smt. Nirmala Sitaraman

For economy

- India Targets to become a $3 trillion economy in FY20, $5 trillion in a few years

- She Proposes changes to kick-start domestic and foreign investment

- She says, it is Right Time for India to enter into aircraft financing and leasing

- the government Will create congenial atmosphere for development of MRO services

- Cargo volume on Ganges to increase four times over the next four years

- Government Will create blueprint for gas, water grids and regional airports

To boost investment

- Government to boost IFSCs - International Financial Service Centres

- Government To set up a CGEC - Credit Guarantee Enhancement Corporation

For real estate

- Government Will Create a model tenancy law and circulate to states; and propose steps for rental housing

For small businesses

Pradhan Mantri Man dhan Scheme

Pension benefits will be offered to 3 crore shopowners with annual turnover of less than Rs 1.5 crore under new scheme called Pradhan Mantri Man dhan Scheme.

FPI

The government plans to allow FPIs to Subscribe to listed debt papers of REITs and InviTs,  there is also a proposal to merge NRI portfolio route with FPI routes. 

Roads & Transportation

- The government also plans to carry out comprehensive restructuring of National Highway programme

- In second phase of Bharat Mala project, states will be helped to develop roadways

- 1,25,000 km of roads will be upgraded under Pradhan Gram Sadak Yojana under Phase III at estimated cost of Rs 80,250 crore