Budget 2019: Piyush Goyal terms financial help a major relief for small, marginal farmers

Goyal said that the Centre would request the state governments to give list of farmers with less than 2 hectares of land holding, so that small and marginal farmers can enjoy these benefits

FP Staff February 01, 2019 16:46:04 IST
Budget 2019: Piyush Goyal terms financial help a major relief for small, marginal farmers
  • Finance Minister Piyush Goyal said that Rs 6,000 per year for each farmer will be given under the Pradhan Mantri Kisan Samman Nidhi

  • Goyal said that the Centre would request the state governments to give list of farmers with less than 2 hectares of land holding

  • TDS threshold on interest from bank and post office deposits would be raised from Rs 10,000 to Rs 40,000

Finance Minister Piyush Goyal said that Rs 6,000 per year for each farmer will be given under the Pradhan Mantri Kisan Samman Nidhi for those who have less than two hectares of land holding and termed it as a big relief for those farmers who are left out, for any reason, from the crop insurance scheme of the government.

Budget 2019 Piyush Goyal terms financial help a major relief for small marginal farmers

Finance minister Piyush Goyal at Parliament. PTI.

Addressing a press conference after presenting the interim Budget on Friday, Goyal said that the Centre would request the state governments to give a list of farmers with less than 2 hectares of land holding, so that small and marginal farmers can enjoy these benefits.

He said that tax deduction at source (TDS) threshold on rental income has been raised from Rs 1.8 lakh to Rs 2.4 lakh.

Goyal also said that the TDS threshold on interest from bank and post office deposits would be raised from Rs 10,000 to Rs 40,000.

Among other measures, he said benefits under Section 80(i)BA were being extended for one more year for all housing projects approved till the end of 2019-2020.

The finance minister said that benefit of rollover of capital tax gains would be increased from investment in one residential house to that in two residential houses, for a taxpayer having capital gains up to Rs 2 crore; can be exercised once in a lifetime.

"Our government has initiated the world's largest behavioral change movement with the Swachh Bharat Mission. India has achieved 98% rural sanitation coverage and as many as 5.45 lakh villages have been declared open defecation free (ODF)," said the finance minister.

A holistic approach has been taken by the government for the welfare of all sections of citizens, said Goyal.

He said that for the protection and increasing productivity of cow, Kamadhenu Aayog would be set up and additional Rs 500 crore would be allocated for it in the Budget.

Income tax calculator

 

 

To keep watching India’s No. 1 English Business News Channel – CNBC-TV18, call your Cable or DTH Operator and ask for the Colors Family Pack (inclusive of 24 channels), available for Rs. 35/- per month, or subscribe to the channel for Rs. 4/- per day.

To keep watching the Leader in Global Market & Business News – CNBC-TV18 Prime HD, call your Cable or DTH Operator and ask for the Colors Family HD Pack (inclusive of 25 channels), available for Rs. 50/- per month, or subscribe to the channel for Rs. 1/- per day.

Updated Date:

also read

Rising debt, no widow pension: COVID-19 crisis brings Maharashtra's vulnerable women farmers to the brink
Lifestyle

Rising debt, no widow pension: COVID-19 crisis brings Maharashtra's vulnerable women farmers to the brink

A survey of 940 single women farmers has exposed their increased vulnerability during the COVID-19 pandemic and the lockdown in Maharashtra.

'Why shouldn't we hold you in contempt?': Delhi HC asks Centre, issues notice on non-compliance of oxygen supply orders
India

'Why shouldn't we hold you in contempt?': Delhi HC asks Centre, issues notice on non-compliance of oxygen supply orders

Stating that the Centre has failed to meet its assurance of supplying oxygen to Delhi as per requirement, the HC summoned joint MHA secretary Piyush Goyal and Sumita Dabra of the Industries Department to respond to appear before it to respond to the notice