Some other items in Budget 2019 : 04-02-2019

ET takes a look at some of the other items in the budget .

Lakh crore to just lakhs: 
After providing Rs 1.06 lakh crore in current fiscal to top up the Rs 90,000 crore given in FY18, the government does not think the state run banks will need any help next fiscal. The government has provided a meagre Rs 2 lakh for recapitalisation of public sector banks. Equity support to Air India is seen at Rs 1 lakh only.

Higher tax revenues:
The government expects gross tax revenue to increase to 12.1% of GDP in FY20 from 11.9% in the current year and further rise to 12.1% in FY21 and 12.2% in FY22. Much of the rise is expected to come from direct taxes which are forecast to climb to 6.9% of GDP in FY22 from 6% in FY18. The government expects full benefit of GST to start flowing from FY21.

Kerosene subsidies: 
Twelve state governments and UTs have voluntarily surrendered their PDS kerosene under the direct benefit transfer scheme. Eight state governments/UTs have already cut down their PDS Kerosene allocation to nil. Major subsidies are seen declining to 1.3% of GDP by FY21 from 1.4% at present.

Small savings boost:

A sharp rise in small savings has allowed the government to rely less on market borrowings for meeting fiscal deficit target. Share of such savings in financing fiscal deficit is projected to rise to 19.7% in FY19 from 17.3% in the year before.

MGNREGA slips to second: 
After being the biggest social intervention scheme, MGNREGA is set to slip to second spot following the announcement of the income support scheme for farmers. In FY20, Rs 75,000 crore has been set aside for income transfer, eclipsing the rural employment scheme that will slip to second spot with Rs 60,000 crore allocation. It also raises the clout of the department of agriculture that will see its allocation almost double to Rs 1.3 lakh crore in FY20.

Last of some taxes: 
With nothing expected in FY19, hotel receipts tax, fringe benefit tax, estate duty and taxes on wealth are all set to end. There was some small collection from these in FY18.

Police earnings: 
Central police forces and the Delhi Police are set to earn sharply higher income for the government at Rs 10366 crore in FY20 against Rs 7761 in FY18. The earnings are from central police forces supplied to states and other parties and those of Delhi Police .

Source : Times Of India