Pension benefits will be offered to 3 crore shopowners with annual turnover of less than Rs 1.5 crore under new scheme called Pradhan Mantri Man dhan Scheme
We will work to make a platform for listing social enterprises and voluntary organisations to raise capital as equity, debt or units like mutual fund, Sitharaman says
India's FDI flows in 2018-19 remained strong compared to global at $54.2 billion, 6 percent higher than last year. The government will examine options of opening up FDI in media, animation and some other sectors to improve these flows further, she says
Nearly 1.95 crore houses are proposed to be provided to eligible beneficiaries under the Pradhan Mantri Awas Yojana, she points out. The completion of houses that required 314 days in 2015-16, it has now come down to 114 days since 2017, she highlights
Transportation
Inter-operable One Nation One transport card: National transport card for universal travel which can used on various modes of transport (road, railways etc). The card can also be used as a ATM card for withdrawing money.
Govt plans to create MRO (Manufacturing, Repair and Operate) industry
PPP to be used to unleash faster development and the delivery of passenger freight services.
Comprehensive restructuring of National Highways Programme for creation of National Highways Grid.
A total of 1,25,000 km of roads will be upgraded under Pradhan Gram
Sadak Yojana under Phase III at estimated cost of Rs 80,250 crore
Taxes
Annual turnover limit for 25 percent corporate tax raised to Rs 400 crore from Rs 250 crore
Taxpayers with annual turnover of less than Rs five crore to have to file only quarterly returns under GST.
Two percent TDS on withdrawals of Rs one crore in cash in a year from bank accounts for business payments
Direct tax revenue has increased by 78%
Govt waives MDR changes on cashless payment
Increase in surcharge on super rich: 3% surcharge on Rs 2 crore income; 7% on Rs 5 crore and above
Market reforms
Asks SEBI to evaluate hiking minimum public shareholding to 25 percent from 35 percent
Government will work with exchanges to allow AA bonds to be used as collateral
Proposes rationalising and streamlining of KYC (know your customer) norms for Foreign Portfolio Investors (FPIs) to make it investor-friendly
NRI portfolio route to be merged with FPI for seamless investment in stock markets
Credit Guarantee Enhancement Corporation will be set up in 2019-20, action plan to deepen markets for long-term bonds with specific focus on infra sector to be put in place, Sitharaman said
The government also plans to take up measures to make RBI and SEBI depositories inter-operable
The government will allow FPIs/NRIs to subscribe to listed debt papers of REITs and InvITs
Local sourcing norms will be relaxed for the Single brand retail sector
Govt of open FDI in aviation, insurance, animation AVGC and media
Propose Social Stock Exchange under SEBI for listing social enterprises & voluntary organisations
MSME
The government proposes to extend pension benefit to three crore retail traders with an annual turnover less than Rs 1.5 crore under Pradhan Mantri Karam Yogi Man Dan Scheme
Centre will create a payment platform for MSMEs for payment of bills
Hundred new clusters will be set up in 2019-20 to enable 50,000 artisans to come into the economic value chain
Will set up 10,000 new farmer producer organizations
To start television programmed exclusively for startups
Ease of living
Rs 3,000 pension per month for informal sector workers
Aadhaar card under 180 days for NRIs on arrival in India
The government to open embassies in countries where India doesn't have a resident diplomatic mission as yet
Startups
Propose easing angel tax for startups
Angel tax: Wont require scrutiny from Income Tax department for startup
2% interest subvention for GST-registered MSME on fresh or incremental loans.
Stand Up India' Scheme to continue till 2025
Education
Govt to launch 'Study in India' programme to attract foreign students in higher education
Allocate Rs 400 crore for world-class higher education institutions in FY20 .
To unveil new education policy.
National research foundation to fund, coordinate and to promote research in the country.
New Higher Education Commission with focus on higher autonomy
New national education policy to propose changes in school, higher education
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