Key Points
The 2019 interim budget provided income tax rebate, social security coverage, and railway capex..
The budget allocated funds for rural poverty alleviation, semiconductor manufacturing, solar power, and economic railway corridors..
In the 2019 mini-budget, just before the April-May Lok Sabha polls, then acting finance minister Piyush Goyal increased the income tax rebate for people with income of up to 5 lakh, announced a massive social security coverage for unorganised sector workers and set a record railway capex of 1.6 lakh crore for FY20.. Finance Minister Nirmala Sitharaman, who matched former prime minister Morarji Desai's record with her sixth consecutive budget, did not offer any tax sops in her shortest budget speech on Thursday..
The finance minister and the government must also be commended for sticking to their core mission of improving ease of doing business and ease of living for citizens, while at the same time doing whatever is necessary to boost capex and infrastructure creation..
The announcement of two crore extra houses for the rural poor on top of the three crore already being built and a new scheme for the middle class to build or buy houses will boost home ownership apart from benefiting construction, finance and other allied industries...
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