Union Budget 2019

WATCH | Piyush Goyal Announces That Defence Spending At Highest Ever, To Cross Rs 3,00,000 Crore For The First Time In 2019-20

Written By Apoorva Rao | Mumbai | Published:

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  • Interim Finance Minister Piyush Goyal on Friday during the Union Budget speech announced that the present government under PM Narendra Modi has allocated the maximum amount of money for Defence
  • He also highlighted the government's quicker and higher allocation for the One Rank One Pension scheme

Interim Finance Minister Piyush Goyal on Friday during the Union Budget speech announced that the present government under PM Narendra Modi has allocated the maximum amount of money for Defence.

He also highlighted the government's quicker and higher allocation for the One Rank One Pension scheme.

"Our soldiers protect our borders in tough conditions. They are our pride and honour. We also respected their dignity. In our Election Manifesto, we had promised to implement One Rank One Pension (OROP). This was pending for the last 40 years and has been resolved by us. The previous governments announced it in three budgets but sanctioned a mere ` 500 crore in 2014-15 Interim Budget; in contrast we have already disbursed over 35,000 crore after implementing the Scheme in its' true spirit. The government also announced substantial hike in the Military Service Pay (MSP) of all service personnel and special allowances given to Naval and Air Force personnel deployed in high risk duties.  Our Defence Budget will be crossing Rs 3,00,000 crore for the first time in 2019-20. For securing our borders and to maintain preparedness of the highest order, if necessary, additional funds would be provided," he said.

READ | Ease of tax filing: "All I-T returns to be processed in 24 hours, refunds issued simultaneously" announces Piyush Goyal in Budget 2019 speech

In a massive boost to the farming and agricultural sector, interim Finance Minister Piyush Goyal, during his budget speech, announced that the farmers who own up to two hectares of land will be directly provided with an income of Rs 6000 every year.

The government has come up with a Pradhan Mantri Kisan Sammaan Nidhi scheme which will aim to provide the small sized farmers with a 'structured, direct income support' so that they don't fall into the clutches of the money lenders.

"All those vulnerable and small farmers, who have less than two hectares of land, the government has decided that they will be provided income support of Rs 6000 per year," Piyush Goyal said.

READ | MASSIVE: 'Farmers With Up To Two Hectares Of Land To Be Given Rs 6000 Per Year Income Support' - Piyush Goyal Announces 'Pradhan Mantri Kisan Sammaan Nidhi' In Budget 2019

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