Moneycontrol
Last Updated : Feb 01, 2019 03:37 PM IST | Source: Moneycontrol.com

Budget 2019: Quick glance at the tax rebate announcement, fiscal deficit and GDP numbers

Here are the key highlights from the tax changes and economy-related announcements made by Interim Finance Minister Piyush Goyal:

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Tax changes: Interim Finance Minister Piyush Goyal on February 1 announced tax sops for the middle class. One of the biggest announcement was the doubling of income tax exemption limit to Rs 5 lakh. (Image: PTI)
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Tax changes: Interim Finance Minister Piyush Goyal on February 1 announced tax sops for the middle class. One of the biggest announcement was the doubling of income tax exemption limit to Rs 5 lakh. (Image: PTI)

<strong>Tax changes:</strong> The Finance Minister announced a tax rebate for income up to Rs 5 lakh per annum. Standard deduction was raised to Rs 50,000 from Rs 40,000. (Image: Reuters)
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Tax changes: The Finance Minister announced a tax rebate for income up to Rs 5 lakh per annum. Standard deduction was raised to Rs 50,000 from Rs 40,000. (Image: Reuters)

Tax changes: FM Goyal also announced tax exemption on notional rent on second self-occupied house. The capital gains exemption under Section 54 was made available on two house properties. Group of Ministers are looking at ways to ease GST burden on homebuyers, Goyal announced. (Image: Reuters)
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Tax changes: FM Goyal also announced tax exemption on notional rent on second self-occupied house. The capital gains exemption under Section 54 was made available on two house properties. Group of Ministers are looking at ways to ease GST burden on homebuyers, Goyal announced. (Image: Reuters)

Tax changes: The Tax Deducted at Source (TDS) limit was hiked to Rs 40,000 from Rs 10,000 on post-office savings. (Image: Reuters)
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Tax changes: The Tax Deducted at Source (TDS) limit was hiked to Rs 40,000 from Rs 10,000 on post-office savings. (Image: Reuters)

Economy: FY20 fiscal deficit target set at 3.4 percent. (Image: Reuters)
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Economy: FY20 fiscal deficit target set at 3.4 percent. (Image: Reuters)

Economy: Expenditure target for FY20 set at Rs 27.84 lakh crore and the capital expenditure for FY20 set at Rs 3.36 lakh crore. (Image: Reuters)
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Economy: Expenditure target for FY20 set at Rs 27.84 lakh crore and the capital expenditure for FY20 set at Rs 3.36 lakh crore. (Image: Reuters)

Economy: The FY19 fiscal deficit was pegged at 3.4 percent of the Gross Domestic Product (GDP). The current account deficit was pegged at 2.5 percent of the GDP. The FY20 gilt repayment was pegged at Rs 2.36 lakh crore. (Image: Reuters)
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Economy: The FY19 fiscal deficit was pegged at 3.4 percent of the Gross Domestic Product (GDP). The current account deficit was pegged at 2.5 percent of the GDP. The FY20 gilt repayment was pegged at Rs 2.36 lakh crore. (Image: Reuters)

First Published on Feb 1, 2019 03:34 pm
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