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Saturday, 6 July 2019

Budget 2019 Highlights


 Tax on super-rich; EVs, affordable housing get big push 


After a pre-election, populist Budget in February 2019, the Modi government today presented the Union Budget to boost infrastructure and foreign investment at a time when the economy is showing signs of slowdown. Taking a pragmatic approach, Finance Minister Nirmala Sitharaman today announced no changes in personal income tax rates but levied additional surcharge on the super rich. She also sought to spur growth with reduction in corporate tax and sops to housing sector, startups and electric vehicles.

Among key announcements, Sitharaman said that digital payments will get cheaper, govt will launch an ATM-like One Nation One Card for pan-India travel and new model rental laws will be unveiled to boost affordable housing. 


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