Nirmala Sitharaman presents the Budget of the Union 2019: Highlights
* From 1.85 trillion dollars in 2014, the economy has reached 2.7 trillion dollars; We can very well reach $ 5 trillion in the coming years. The Indian economy will grow and it will become a 3 trillion dollar economy this year.
* The plan to reach a $ 5 billion economy will involve the development of large investments in infrastructure, digital economy and job creation.
* 80 livelihood business incubators and 20 technology business incubators will be established in 2019-2020 under ASPIRE to develop 75,000 qualified entrepreneurs in agro-rural industries.
* Increase the focus on the skill sets required by young people to apply for job opportunities abroad, such as language skills and artificial intelligence (AI).
* The railway infrastructure would need an investment of 50 million rupees between 2018 and 2030; PPP will be used to trigger faster development and delivery of passenger transport services.
* Rs 350 crore allocated for 2% interest subsidy for all GST -registered MSMEs on fresh or incremental loans.
* The FAME II scheme aims to encourage faster adoption of electric vehicles through appropriate incentives and charging infrastructure. A comprehensive restructuring of the National Highway Program will be carried out to guarantee the creation of the National Roads Network of desirable capacity. The government plans to use the rivers to transport cargo, which will also decongest roads and railways.
* 657 km of the metro rail network has been put into operation in the country.
* The government has given a massive boost to all forms of physical connectivity through PMGSY, industrial corridors, dedicated freight corridors, Bharatmala, Sagarmala, Jal Marg vikas and UDAN plans.
Mission of Swachh Bharat
* Proposal to expand Swachh Bharat's mission to undertake solid waste management in each village.
* India will be free of defecation (ODF) before October 2, 2019.
* By the year 2022, all rural families, except those who are not willing to take the connection, will have electricity and a clean kitchen facility.
* In the second phase of PMAY-Gramin, 1.95 million inhabitants will be provided to eligible beneficiaries, during 2019-20 to 2021-22; They will have services such as LPG, electricity and bathrooms.
* The pension benefit will be extended to approximately 3 million retail merchants and merchants with an annual turnover of less than 1.5 million rupees under the Pradhan Mantri Karam Yogi Man Dhan plan.
* To harness India's space ability commercially, a public sector enterprise, New Space India Limited (NSIL) has been incorporated to tap the benefits of Isro.
Social stock exchange
* Electronic fundraising platform, a social stock exchange, which will be created to list social enterprises and voluntary organizations that work for social welfare objectives.
* To provide NRIs seamless access to Indian equities, NRI portfolio investment route to be merged with foreign portfolio investment route.
* Sitharaman departed from the 'colonial' practice of carrying budget documents in a leather briefcase and, instead, switched to a four-fold red cotton cloth called 'bahi-khata'.
* This is the 89th Budget of the Union, which is the government's financial statement, which details its past revenues and expenditures, as well as estimated expenditures and projections for next year.