,
21 tweets,
6 min read
Read on Twitter
FM says, govt. is dedicated to ideals of Lord Basaveshwara. Quotes him in Kannada "Kayakave Kailasa" (Work is Worship").
FM says, will consolidate multiple labor laws into set of 'four labor codes'. #budget 2019
FM says, new television channel for startups to be set up. #budget 2019
FM says, Pradhan Manthri Shram Yogi Mandhan pension scheme launched some months ago, will give 3000 rupees to workers in unorganized sector when they reach age of 60 years (they have to contribute when they are working of course!) #Budget2019 live
FM quotes Swami Vivekananda, 'there is no chance for welfare of world, unless condition of women is improved. A bird can't fly on one wing'. Proposes broad-based committee to strengthen 'gender based budgeting'. #Budget2019
FM says, there are 78 women MPs in Lok Sabha! Pushes for women-led initiatives. #Budget2019. Proposes to extend interest subvention scheme for women-led SHGs to all districts of India.
FM proposes to issue Aadhar cards to NRIs with Indian passports immediately. Currently, they have to wait for 180 days! #Budget2019
FM says, India will develop '17' iconic tourism sites as model sites, to give fillip to tourism. #Budget2019
FM says, NPAs of commercial banks have reduced by 1 lakh crores over last year. There is record recovery of 4 lakh crores over last four years. 'Provision coverage ratio' highest since last 7 years. #Budget2019
FM says, will give Rs. 70,000 crores to PSU banks to boost capital and to improve credit. #Budget2019
FM says, NBFCs play important role in sustaining consumption demand. They should get sustained funding from banks and MFs. Govt will give credit guarantee to first 10% loss of banks from NBFCs. Will assist to tune of Rs. 1 lakh crores.
As we predicted some time back, something big on infrastructure front. FM says, govt will spend Rs. 100 lakh crores on infrastructure over the next five years! Holy smokes! #Budget2019
FM says, govt will change policy of 51% government stake in PSUs, to 51% stake, inclusive of stake held by government controlled entities. This is big! #Budget2019
FM says, strategic disinvestment in CPSEs will continue, including Air India. Has set target of Rs. 1 lakh crore+ in disinvestment proceeds. #Budget2019
FM says, India's sovereign external debt to GDP is among lowest in world, at 5%, which is very good news. Says, new series of coins have already been released. Will be distributed to public soon. #Budget2019
FM quotes a Sangam Tamil text to appreciate tax payers. "Just a few mounds of paddy harvested from a small piece of land will be enough for an elephant. But if it enters the field to eat itself, it will trample far more" Sorry. Didn't understand the context! #Budget2019
FM on corporate tax reform. "25% tax rate to be extended to companies with Rs. 400 crores turnover or less. Will cover 99.3% companies." Great news! #budget2019
FM announces lowering of GST on electric vehicle purchases to 5%. Additional income tax deduction of Rs. 1.5 lakh on electric vehicles. Will amount of 2.5 lakh benefit over life-time of the electric vehicle. #Budget2019
FM on GIFT City. Proposes several tax incentive, including 100% tax deduction under Section 80LA, exemption from dividend distribution tax, and more (for 10 years?). #Budget2019
Aadhar number can be used when filing income tax return if you don't have PAN. Neat! #Budget2019
FM on digital payments and less cash economy. To discourage business payments in cash, proposes TDS of 2% on cash withdrawals of more than Rs. 1 crore per year. #Budget2019
