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Budget 2019: Govt increases highways budget by 6%, allocates Rs 83k crore for 2019-20

Highways sector has been one of the best performing areas of the government with the government expenditure rising from Rs 34,345.2 crore in 2014-15 to Rs 78,625 crore in 2018-19

February 01, 2019 / 07:03 PM IST
Citizens with income lesser than Rs 5 lakh were to get full tax rebate which meant that they don’t have to pay taxes. Rebate under section 87A was hiked to Rs 12,500 from Rs 2,500. The amount under standard deduction was also hiked by Rs 10,000 to Rs 50,000 from Rs 40,000.

Citizens with income lesser than Rs 5 lakh were to get full tax rebate which meant that they don’t have to pay taxes. Rebate under section 87A was hiked to Rs 12,500 from Rs 2,500. The amount under standard deduction was also hiked by Rs 10,000 to Rs 50,000 from Rs 40,000.

The finance ministry on February 1 allocated the highest ever budgetary support of Rs 83,016 crore to the highways sector under the interim budget for 2019-20.

“Infrastructure is the backbone of any nation’s development and quality of life. Whether it is highways or railways or airways or even digi-ways, we have gone beyond incremental growth to attain transformative achievements,” interim finance minister, Piyush Goyal said while presenting the budget.

The amount was up by 5.58 percent against the previous year’s budgetary allocation of Rs 78,625.5 crore (revised estimate). The allocation made by the government is the expected estimates for the year, a full year and exact budget for 2019-20 would be presented by the new government in June-July.

This budget is Modi government’s last budget before the country votes a new government to power during the Lok Sabha election due around April-May 2019.