New Delhi: Finance Minister Nirmala Sitharaman presented her maiden Union Budget 2019-20 in Lok Sabha, as part of Prime Minister Narendra Modi’s second term on Friday. Also Read - 7th Pay Commission Latest News: Karnataka Govt Employees to Get 4.75% DA Hike Ahead of Diwali
Nirmala Sitharaman, India’s first full-time woman finance minister, may provide relief to middle-class taxpayers by raising the basic tax exemption limit in much-anticipated Union Budget. Also Read - 50 Days of Modi 2.0: NDA's Second Term Indicates Huge Transformation For Next 5 Years
The government may reward them (middle-class) by increasing the ability to buy their dream home. Reports claimed that the tax deduction limit on interest on home loans may be increased to Rs 2.5 lakh a year from the present Rs 2 lakh limit. But this enhanced benefit will come with the withdrawal of deduction for interest on the second house that was allowed earlier. Also Read - Budget Impact: FIIs Sell Nearly Rs 3,000 Crore Shares in 6 Sessions
You can find the budget document online after the Finance Minister presents the Union Budget in the Parliament.
Step 1: Go to https://www.indiabudget.gov.in/
Step 2: Click on Budget Speeches
Step 3: Find the 2019-2020 pdf document
It is expected that there will be a big push for infrastructure spending including on roads and railways to drive growth which had slowed to a five-year low of 5.8 per cent in the first three months of 2019.
Earlier on Thursday, a day before the presentation of Union Budget 2019, the government pegged the growth rate for the current fiscal at 7 per cent, marginally up from 6.8 per cent.