1. Individual tax payers earning income up to Rs 5 Lac will get full tax rebate, ensuring if you invest in 80C like PPF etc you won’t be taxed up to Rs 6.5 Lacs.
2. Standard Deduction for salaried class increase from Rs 40,000/- to Rs 50,000/-.
3. TDS threshold on interest on bank and post office deposits rose from 10,000 to 40,000 rupees.
4. No TDS on House Rent up to Rs 2.4 Lakhs.
5. Benefit of rollover of capital tax gains to be increased from investment in one residential house to that in two residential houses, for a taxpayer having capital gains up to 2 crore rupees; can be exercised once in a lifetime.
6. Gratuity limit increased from 10 lakh to 30 lakh rupees for all.
7. MSME registered under GST will get of 2 per cent interest subvention on the incremental loan of 1 Crore.
8. NPS has been more liberalised. The government has increased its share to 14 per cent from the existing 10 per cent.
9. Computerised system to be in place in next 2 years eliminating direct interference of officers and clients in Scrutiny of Income Tax Cases.
10. Businesses with less than Rs. 5 crore annual turnovers, comprising over 90% of GST payers, will be allowed to return quarterly returns.
11. The Kisan yojana will be effective December 1, 2018, and the money will be directly transferred into their account.
12. Under Pradhan Mantri Kisan Samman Nidhi, 6000 rupees per year for each farmer, in three installments, to be transferred directly to farmers' bank accounts, for farmers with less than 2 hectares land holding.
13. 2018-19 Revised Fiscal deficits at 3.4% Current account deficit to be contained to 2.5%.
14. Rs 3 lakh crore recovered by banks through IBC.
15. Rs 3 lakh crores loan defaults have already been recovered.
16. Close to 3 lakh crore already recovered in favour of banks and creditors, big defaulters are not spared by our government. Recapitalization of banks amounting to 2.6 lakh crore has been done.
17. Budget allocation of Rs 60,000 crore for National Rural Employment Guarantee Act in 2019-20.
18. FY19 Food Subsidy Spend Was Rs 1.7 Lakh Crore.
19. Rs 60,000 crores set aside for MGNREGA this year.
20.21 AIIMS operating in India now, 14 of which were announced from 2014, The 22nd AIIMS will be created at Haryana.
21. Mahatma Gandhi National Rural Employment Guarantee program’s allocation increased by Rs 5000 crore to Rs 60,000 crore.
22.Pradhan Mantra Gram Sadak Yojana allocation is set at Rs 19,000 crore.
23.Increased allocation for Rashtriya Gokul Mission to 750 crore in current year.
24.2% interest subvention to farmers pursuing animal husbandry and fisheries.
25.In place of rescheduling of crop loans, all farmers severely affected by severe natural calamities will get 2% interest subvention and additional 3% interest subvention upon timely repayment.
26.Without disturbing the existing reservation system, a 10% reservation for economically weaker sections in educational institutions and government jobs has been ensured.
27.New Pension Scheme has been further liberalized as Government's contribution has increased to 14%.
28.Mega Pension Yojana, namely Pradhan Mantri Shram Yogi Mandhan, to provide assured monthly pension of 3000 rupees per month, with contribution of 100 rupees per month, for workers in unorganized sector after 60 years of age.
29.For workers who receive grievous injuries, they will now get Rs 6 lakh from Rs 2.5 lakh through EPFO.
30.For workers and labourers, a new pension scheme will come up. The pension has been increased from Rs 3,500 to Rs 7,000.
31. 1 crore loan can now be obtained under 59 minutes.
32.Defence budget this year is over 3 lakh crore.
33.Allocation for the north eastern region has been proposed to be increased to Rs 58,166 crore in this year, it will be a 21% rise over the previous year.
34.Within almost two years, almost all assessment and verification of IT returns will be done electronically by an anonymized tax system without any intervention by tax officials, Refunds to be processed within 24 hours.
35.Unmanned system to be created for scrutiny of income tax returns.
36.Exemption for GST for small business has been doubled to 40 lakhs - business having turnover upto 1.50 crores have been given an option under composition scheme to pay 1 per cent flat rate and to file one annual return.
37.Expenditure to rise by 13% from RE 2018-19 to BE 2019-20.
38.Centrally Sponsored Schemes To Get 3,27,679 Crore In FY20.
39.Amendments proposed to ensure streamlined system for levy of stamp duties, to be imposed and collected at one place, seamlessly Along with completion of fiscal deficit consolidation programme, we will now focus on debt-to-GDP ratio consolidation.
40.56,619 crore made in BE 2018-19 for welfare of SCs and STs, increased to 62,474 crore in RE 2018-19 has been further increased to 76,800 crore in BE 2019-20: