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Last Updated : Feb 01, 2019 03:14 PM IST | Source: Moneycontrol.com

Budget 2019: Key announcements made for farmers, workers

Here are the key highlights for farmers and employees from Finance Minister Piyush Goyal's Interim Budget 2019-20:

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Farmers | Farmers with less than two hectares of land will be offered Rs 6,000 per year, as direct transfer, under the Pradhan Mantri Kisan Samman Nidhi scheme. The benefit will be transferred directly into the bank account of beneficiary farmers in three instalments of Rs 2,000 each. The scheme will cover more than 12 crore farmers across the country and will cost the government around Rs 75,000 crore.
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Farmers | Farmers with less than two hectares of land will be offered Rs 6,000 per year, as direct transfer, under the Pradhan Mantri Kisan Samman Nidhi scheme. The benefit will be transferred directly into the bank account of beneficiary farmers in three instalments of Rs 2,000 each. The scheme will cover more than 12 crore farmers across the country and will cost the government around Rs 75,000 crore.

Farmers | Mahatma Gandhi National Rural Employment Guarantee program’s allocation increased by Rs 5,000 crore to Rs 60,000 crore for FY20.
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Farmers | Mahatma Gandhi National Rural Employment Guarantee program’s allocation increased by Rs 5,000 crore to Rs 60,000 crore for FY20.

Farmers | Farmers plagued by natural calamities will now receive 2-5 percent interest subvention under the insurance scheme.
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Farmers | Farmers plagued by natural calamities will now receive 2-5 percent interest subvention under the insurance scheme.

Farmers | Two percent interest subsidy will be given to farmers involved in animal husbandry activities via kisan credit card scheme. An additional three percent subsidy will be paid on timely payment of loans.
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Farmers | Two percent interest subsidy will be given to farmers involved in animal husbandry activities via kisan credit card scheme. An additional three percent subsidy will be paid on timely payment of loans.

Farmers | The government also announced Rashtriya Kamdhenu Aayog, a scheme to enhance the productivity of cows.
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Farmers | The government also announced Rashtriya Kamdhenu Aayog, a scheme to enhance the productivity of cows.

Workers | The unorganised sector will receive a monthly payment of Rs 3,000 as pension following retirement. The scheme will benefit more than 10 crore workers. Those who join at 18 years of age will have to contribute Rs 55 per month. The government will contribute equal matching share in the pension account. This scheme will cost the government Rs 500 crore.
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Workers | The unorganised sector will receive a monthly payment of Rs 3,000 as pension following retirement. The scheme will benefit more than 10 crore workers. Those who join at 18 years of age will have to contribute Rs 55 per month. The government will contribute equal matching share in the pension account. This scheme will cost the government Rs 500 crore.

Workers | Employees' State Insurance eligibility cover limit is being raised to Rs 21,000 per month from Rs 15,000 per month
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Workers | Employees' State Insurance eligibility cover limit is being raised to Rs 21,000 per month from Rs 15,000 per month

Workers | Gratuity limit was increased from Rs 10 lakh to Rs 30 lakh
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Workers | Gratuity limit was increased from Rs 10 lakh to Rs 30 lakh

Workers | Workers who suffer grievous injuries will now receive Rs 6 lakh through the Employee Provident Fund Organisation (EPFO), as against Rs 2.5 lakh they received previously.
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Workers | Workers who suffer grievous injuries will now receive Rs 6 lakh through the Employee Provident Fund Organisation (EPFO), as against Rs 2.5 lakh they received previously.

First Published on Feb 1, 2019 03:14 pm
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