NEW DELHI: Finance Minister Nirmala Sitharaman is presenting one of the most crucial Budgets for Modi 2.0 as it will become a guide for upcoming reforms and policies in the next 5 years of the Modi govt.
Sitharaman in her Budget 2019 live streaming speech outlined the intention to invest in infrastructure, reach digital economy to every sector of the economy and give a big boost to MSMEs.
Sitharaman has proposed to increase public shareholding in listed companies, improve KYC norms for FPIs, get retail investors into the government treasury bills market and provide for more foreign participation in insurance intermediaries, media, aviation and animation.
Sitharaman has also announced her intention to get more NRI investment into India. She coined the slogan of ‘Study in India’, promising to make India a hub for education and get foreign students in to India. TDS of 2% on cash withdrawal of over one crore to discourage cash payments by businesses.
The new Ministry will look at the management of our water resources and water supply in an integrated and holistic manner and will work with states to ensure ‘Har Ghar Jal’, to all rural households by 2024 under ‘Jal Jeevan Mission’.
Sithraman on Friday said the Narendra Modi govermment was focussed on “Gaon, Garib, Kisan” as she announced a slew of schemes to boost investment in the rural sector and the uplift of farmers.
Aadhar Card for NRI Indians with Indian passports without any waiting period said FM Nirmala Sitharaman. Sitharaman announces initiatives to promote women entrepreneurship in every district of the country.Sitharaman proposes to make the two documents interchangeable so that Aadhaar can be used for verification with no requirement for PAN.
Government’s increasing focus on emerging new technologies in the form of artificial intelligence, data science, big data, Internet of Things, would revitalise technology companies said Sitharaman.
Zero Budget farming may not be a new thing – some states have already tried. We need to replicate this innovative model, this can double our farmers income said Sitharaman.
Govt will invite suggestions for further opening up of FDI in aviation sector, media, animation AVGC and insurance sectors in consultation with all stakeholders.
The finance ministry had decided to support the PSBs who were found wanting after accelerating non-performing assets.New Rs 1, 5, 10 & 20 coins to be available for public use soon.