Union Finance Minister Nirmala Sitharaman on Friday presented her maiden budget in the Parliament, reiterating the Modi government’s vision to create new empowered India having robust economy. Healthy society – Ayushman Bharat, well-nourished women & children was among ten-point vision announced in the budget.

“Our economy was at approximately US$ 1.85 trillion when we formed the Government in 2014. Within 5 years it has reached US$ 2.7 trillion. Hence, it is well within our capacity to reach the US$ 5 trillion in the next few years,” Sitharaman said.

Also read: Interim Budget 2019: Govt to scale up Ayushman Bharat to create a healthy India

The first budget after the Government came to power with bigger mandate mainly focused on infrastructure, development and foreign investment.

Meanwhile, in a televised address after the Union Budget was tabled in the House, the Prime Minister Narendra Modi said it the budget would empower the downtrodden and turn them into a “power house” for the development of the country. He also described the Union Budget as citizen friendly, development friendly and future oriented.

10 points for vision for the decade are:

• Building physical and social infrastructure;
• Digital India reaching every sector of the economy;
• Pollution free India with green Mother Earth and Blue Skies;
• Make in India with particular emphasis on MSMEs, Start-ups, defence manufacturing, automobiles, electronics, fabs and batteries, and medical devices;
• Water, water management, clean Rivers;
• Blue Economy;
• Space programmes, Gaganyan, Chandrayan and Satellite programmes;
• Self-sufficiency and export of food-grains, pulses, oilseeds, fruits and vegetables;
• Healthy society – Ayushman Bharat, well-nourished women & children. Safety of citizens;
• Team India with Jan Bhagidari. Minimum Government Maximum Governance

Also read: Elets Exclusive! Union Budget 2019: Here are the key expectations by industry experts

Other highlights

• Government proposes to make PAN and Aadhaar interchangeable for income tax return (ITR) filing.
• A new series of coins of Rs 1, 2, 5, 10 and 20 easily identifiable by visually impaired will be available for public use
• The government has proposed to provide Rs 70,000 crore for PSU bank recapitalisation
• FM proposed to levy TDS of 2% on cash withdrawal over Rs 1 crore per year from bank account.
• Government process to enhance surcharge on high net individuals with taxable income of Rs 2 crore, Rs 5 crore and above.
• The surcharge will be increased by 3 per cent and 7 per cent respectively.
• Union Finance Minister Nirmala Sitharaman said new education policy would bring reform in higher education announcing to provide Rs 400 crore for world-class institutions
• National Research Foundation (NRF) would be established

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