India Union Budget 2019: Senior Congress leader Shashi Tharoor on Friday welcomed the Modi government's decision to hike the Income Tax exemption limit from Rs 2.50 lakh to Rs 5 lakh for middle class people.
Union Budget 2019: Senior Congress leader Shashi Tharoor on Friday welcomed the Modi government’s decision of a hike in the Income Tax exemption limit from Rs 2.50 lakh to Rs 5 lakh for middle class people. Speaking to reporters outside the Parliament post-presentation of the Budget, Tharoor, however, criticised the government over its decision of Rs 6,000 income support for farmers.
“The whole exercise has turned out to be a damn squib. We have seen one good thing that is tax exemption for the middle class,” Tharoor said. “Rs 6000 in income support for farmers boils down to Rs 500 per month. Is that supposed to enable them to live with the honour and dignity?” he questioned.
Also Read: Budget 2019 Income Tax Slab
Finance Minister Piyush Goyal on Friday presented interim budget of his government. He announced to hike the tax exemption limit from Rs 2.50 lakh to Rs 5 lakh. Besides, he also proposed to increase the standard deduction by Rs 10,000 to Rs 50,000.
Goyal in his speech also announced direct annual income support of Rs 6,000 to farmers with land holding of two hectares. He said that the Pradhan Mantri Kisan Samman Nidhi has been constituted with an aim to double farmers’ income by 2022.
For 2019-20, he said that Rs 75,000 crore has been allocated. The money will be transferred in three installments through direct benefit transfer. The scheme will be implemented from December 1, 2018.