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Union Budget 2019: Highlights of Finance Minister Piyush Goyal's speech

Piyush Goyal. Photograph:( Reuters )

WION Web Team New Delhi, Delhi, India Feb 01, 2019, 11.32 AM (IST)

Finance Minister Piyush Goyal on Friday presented Modi government's last Budget of the current tenure. While presenting the Budget, Goyal said he is deeply concerned by Arun Jaitley's absence.

With elections due in a few months, Goyal listed the achievements of Modi government in the last five years.

Here are the highlights of his Budget speech:

  • Committed to eliminating the scourge of black money; the anti-black money measures we took brought an undisclosed income of about Rs 1.30 lakh crore to the fore; 3.38 lakh shell companies de-registered
  • We have gone beyond incremental growth,to attain trans-formative achievements. As far as infrastructure development is concerned, we now have more than 100 operational airports, domestic passenger traffic has doubled in last five years and India is today the fastest highway developer in the world
  • GST is the undoubtedly the biggest taxation reform implemented since Independence; through tax consolidation, India became one common market; inter-state movements became faster through e-way bills, improving ease of doing business. GST collections in January 2019 has crossed Rs 1 lakh crore
  • The defence budget has enhanced beyond Rs 3 lakh crore
  • 75% of women beneficiaries under Pradhan Mantri Mudra Yojana, 26 weeks of maternity leave and the Pradhan Mantri Matritva Yojana, are all empowering women in the country
  • Rs 1 crore loan can now be obtained under 59 minutes
  • A pension scheme is being launched called Pradhan Mantri Shram Yogi Mandhan, to provide assured monthly pension of Rs 3000 per month, with the contribution of Rs 100 per month, for workers in unorganised sector after 60 years of age
  • Ayushman Bharat the world's largest healthcare programme was launched to provide medical care to almost 50 crore people, resulting in 3,000 crore savings by poor families
  • We have provide electricity connection to almost all households in the country - aiming to provide it to the rest by March 2019
  • India's youth have turned job creators from job seekers, India has become the second largest hub for start-ups
  • Under the Pradhan Mantri Kisan Samman Nidhi, Rs 6000 per year for each farmer, in three instalments, will be transferred directly to farmers' bank accounts, for those who hold less than two hectares of land
  • This initiative will benefit 12 crore small and marginal farmers, at an estimated cost of Rs 75,000 crore
  • Rs 60,000 crore set aside for MNREGA this year
  • We have prepared the foundation for sustainable growth
  • Country saw best phase of macro economic stability in last four years
  • Bad debts worth almost Rs 3 lakh crore recovered
  • Today, India is recognised as a bright spot in the global economy
  • To restore the health of public sector banks, recapitalisation has been done with an investment of Rs. 2.6 lakh crore. Amalgamation of banks has also been done to reap the benefits of economies of scale, improved access to capital and to cover a larger geographical spread
  • The 4R approach and a number of measures have been implemented to ensure clean banking: Recognition, resolution, recapitalisation and reforms
  • As a tribute to Mahatma Gandhi, world's largest behavioural change movement - the Swachh Bharat - was initiated. More than 98% rural sanitation coverage has been achieved under this mission and more than 5.45 lakh villages have been declared open defecation free (ODF)
  • Rs 19,000 crore allocated for Pradhan Mantri Gram Sadak Yojana
  • During 2014-18, 1.53 crore houses have been constructed under PM Awas Yojana
  • We strived to change the mindset and ignited self-confidence in the entire nation
  • We also worked towards bridging the urban and rural divide in the country