Nirmala Sitharaman presents her maiden Union Budget; here are the key points

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Nirmala Sitharaman presents her maiden Union Budget; here are the key points

G Plus News | July 05, 2019 13:02 hrs

GUWAHATI: Finance Minister Nirmala Sitharaman presented the Union Budget 2019 today, July 5 at the Parliament. 

Speaking on the occasion, she said that the Indian economy will grow and become a $3 trillion economy in 2019 itself. It stands as the sixth largest in the world today, compared to 11th position five years ago. 

Schemes including ‘Bharatmala,’ ‘Sagarmala’ and UDAN have been introduced to bridge the urban and rural gap and improve transport infrastructure. 

Sitharaman stated that comprehensive restructuring of National Highways Programme will be done to make sure that the creation of National Highways Grid is of desirable capacity. The government is planning to use rivers for cargo transportation so that it decongests roads and railways.

She further informed that railway infrastructure would need an investment of Rs. 50 lakh crores between 2018 and 2030 to unleash faster development and delivery of passenger freight services. 

Pension for shopkeepers and retailers with turnover less than Rs. 1.5 crore to be launched under the ‘Pradhan Mantri Karma Yogi Maan Dhan Scheme.’

Current rental laws are archaic as they do not assess the relation between the lessor and lessee in a fair manner. The government will look at improving the laws.

Nearly 1,25,000 km of roads will be upgraded under Pradhan Mantri Gram Sadak Yojana at estimated cost of nearly Rs 80,200 crore.

We will increase our efforts to improve the skills of our youth in newer areas such as Artifical Intelligence, Big Data, Robotics, etc valued highly within and outside the country to ensure they can secure high paying jobs both in India and abroad.

More updates coming up...

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File photo of Nirmala Sitharaman

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