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The income tax slabs have undergone a revision during the latest budget in India and here is a summary of different income tax slabs you must know for the financial year 2019-20. For earnings up to 5 lakhs in a year, no income tax is applicable. The exemption allowed on up to 5 lakhs income per year is combined with deductions on savings facilitated by Sector 80. This will imply that those that are earning till Rs. 6.5 lakhs per annum need not pay any income tax. In case of salaried employees, a standard deduction of Rs. 50,000 is allowed. The TDS threshold on income through rents in raised to 2.4 lakhs from 1.8 lakhs. On bank and post office deposits, the threshold on interests are raised from Rs. 40,000 from Rs. 10,000. Income tax slab for <keyword id="7824722" type="UNKNOWN" weightage="20" keywordseo="individual-tax-payers">individual tax payers</keyword> aged less than 60 years (FY 2018-19 AY 2019-20) <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">Income range per annum </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">Tax rate </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">Up to Rs. 2.5 lakhs </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">No Tax </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">From Rs. 2.5 lakhs to Rs.5 lakhs </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">5% + 4% cess </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">From Rs. 5 lakhs to Rs. 10 lakhs </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">20% + 4% cess </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">From Rs. 10 lakhs to Rs. 50 lakhs </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">30% + 4% cess </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">From Rs. 50 lakhs to Rs. 1 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">30% + 10% surcharge + 4% cess </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">Above Rs.1 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">30% +15% surcharge + 4% cess </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">Rebate as per Section 87 (A) </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">100% tax rebate is allowed for a maximum value of Rs. 2,500 in case of resident individuals whose total income is not above Rs. 3.5 lakhs </td></tr></tbody></table> Income tax slab for senior citizens aged between 60 and 80 years (FY 2018-19 AY 2019-20) <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">Income range per annum </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">Tax rate </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">Up to Rs. 2.5 lakhs </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">No Tax </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">From Rs. 2.5 lakhs to Rs.5 lakhs </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">5% + 4% cess </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">From Rs. 5 lakhs to Rs. 10 lakhs </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">20% + 4% cess </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">From Rs. 10 lakhs to Rs. 50 lakhs </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">30% + 4% cess </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">From Rs. 50 lakhs to Rs. 1 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">30% + 10% surcharge + 4% cess </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">Above Rs.1 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">30% +15% surcharge + 4% cess </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">Rebate as per Section 87 (A) </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">100% tax rebate is allowed for a maximum value of Rs. 2,500 in case of resident individuals whose total income is not above Rs. 3.5 lakhs </td></tr></tbody></table> Income tax slab for senior citizens aged above 80 years (FY 2018-19 AY 2019-20) <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">Income range per annum </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">Tax rate </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">Up to Rs. 2.5 lakhs </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">No Tax </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">Up to Rs. 5 lakhs </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">No Tax </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">From Rs. 5 lakhs to Rs. 10 lakhs </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">20% + 4% cess </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">From Rs. 10 lakhs to Rs. 50 lakhs </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">30% + 4% cess </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">From Rs. 50 lakhs to Rs. 1 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">30% + 10% surcharge + 4% cess </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">Above Rs.1 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">30% +15% surcharge + 4% cess </td></tr></tbody></table> Income tax slab for firms and domestic companies (FY 2018-19 AY 2019-20) <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">Tax category </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">Firms </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">Domestic companies </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">Turnover up to Rs. 50 crores </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">30% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">25% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">Turn over above Rs. 50 crores </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">30% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">30% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">Surcharges </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">If the total income exceeds 1 crore, 12% of tax is applied as surcharge </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">7% of tax if income exceeds 1 crore but is below 10 crore. 10% of tax in case the income exceeds Rs. 10 crores </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">Cess </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">3% of tax + surcharge </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">3% of tax + surcharge </td></tr></tbody></table>

Current Income Tax Slab For 2019-20 (Income Tax Brackets In 2019-20)

<ul><li>Indians are hoping that the Narendra Modi-led government will take a step forward to advance the ‘promised’ healthcare facilities in India. </li><li>India’s spending on healthcare is below some of the low-income countries which spend 1.4% of their GDP on health. </li></ul>The government will unveil its annual budget for the 2019-20 fiscal year on July 5, 2019, and people are longing for improved healthcare. It is likely to allocate ₹59,039 crore in the financial year 2019-20, an increase of 11% from the current financial year, <a href="https://www.indiaspend.com/why-indias-public-health-facilities-may-suffer-despite-a-likely-rise-in-health-spending/">according</a> to India spend. The government has already allocated ₹52,800 crore (budget estimates) in the health sector of the country,<a href="https://dea.gov.in/sites/default/files/MTEF%20Statement%20%28english%29%202018.pdf"> according to the medium term expenditure projection statement</a> presented in the Parliament by the Ministry of Finance. Indians are hoping that the Narendra Modi-led government will take a step forward to advance the ‘promised’ healthcare facilities in India. The interim budget did not prominently focus on the government’s flagship scheme, National Health Mission as it received only a marginal increase of ₹1,600 crore against ₹1,400 crore in 2018-19. 
 
 
 
 
 
 












 Defense over health Over the years, the government has been spending five times more on defense than on healthcare in the country. India’s health allocation is ₹63,538 crore in 2019-20 against an investment of ₹282,733 crore in defense. The trend in budget allocation for both departments have been much similar in the budgets announced for the past two years, the wire <a href="https://thewire.in/health/indias-defence-budget-is-nearly-five-times-the-health-budget">reported. </a> Health emergency in India The current government promised to address roadblocks in the healthcare sector including a shortage in infrastructure, access to medical facilities and inexpensive treatments. However, the current status of healthcare in India portrays a completely different picture. Recently India’s poorest state, Bihar faced a medical crisis when <a href="https://www.bbc.com/news/world-asia-india-48741451">more than 150</a> children — mostly under the age of 10 and malnourished — died of an outbreak of Acute Encephalitis Syndrome (AES) in Muzaffarpur district. "Children are dying because of a lack of medicines and treatment,"Rabri Devi, Bihar’s opposition figure. According to Rural Health Statistics Bulletin 2017-18, the country is short of 32,900 sub-centres (catering to a population of 5,000), 6,430 primary health centres (PHCs, catering to 30,000 people) and 2,188 community health centres that are supposed to address the health needs of 80,000-120,000 people in rural areas, as on March 31, 2018. Infact, only 7% of the sub-centres, 12% of primary health centres and 13% of the CHCs are functioning, <a href="http://nhm.gov.in/nhm/nrhm/guidelines/indian-public-health-standards.html">Indian Public Health Standards</a> (IPHS). The situation is much worse in tribal areas as it is short of 5,935 sub-centres, 1,187 PHCs and 275 CHCs, said the RHS 2017-18. The population-doctor ratio in government hospitals is 25 times lower in India than the ratio recommended by the World Health Organisation. ₹3 : Daily expenses on healthcare India spends less than two per cent of its GDP on healthcare, making it one of the lowest investors in the sector globally. The World Health Organisation places India’s healthcare spends behind Iraq and Venezuela. The country suffers from a lack of infrastructure and is short of doctors, particularly in rural areas. India spent 1.02% of its gross domestic product (GDP) in 2015. This spending has remained the same for almost six years. India’s spending on healthcare is even below some of the low-income countries which spend 1.4% of their GDP on health,<a href="http://pib.nic.in/newsite/PrintRelease.aspx?relid=180053"> pointed out </a>National Health Profile. The negligence in public health spending forces even poorer patients to seek private healthcare. The country is the sixth biggest out-of-pocket (OOP) health spenders in 2014 amongst low middle-income group, <a href="https://archive.indiaspend.com/cover-story/indians-sixth-biggest-private-spenders-on-health-among-low-middle-income-nations-78476">reported </a>India Spend. The current pace of slow increase in the healthcare budget will make it difficult for India to achieve targets like reducing the maternal mortality rate to 100 in 2018-20 and infant mortality to 28 deaths per 1000 live births by 2019.

Health Budget 2019: India might increase spending on healthcare but that may not be enough

New Delhi, Jan 31 () Following are the highlights of the Economic Survey 2019-20 tabled in Parliament on Friday:
 * GDP growth pegged at 6-6.5 per cent in fiscal year starting April 1, up from 5 per cent in current fiscal
 * Fiscal deficit target for current fiscal may need to be relaxed to revive growth
 * Uptick in growth projected in second half of current fiscal based on 10 factors including higher FDI flows, build up of demand pressure, positive GST revenue growth
 * Survey asks government to deliver expeditiously on reforms to revive growth
 * Ethical wealth creation key to India becoming USD 5 trillion economy by 2025
 * Share of formal employment increased from 17.9 per cent in 2011 -12 to 22.8 per cent in 2017-18 reflecting formalisation in the economy
 * Theme of Survey is wealth creation, promotion of pro-business policies, strengthening of trust in the economy
 * To achieve GDP of USD 5 trillion by 2024-25, India needs to spend about USD 1.4 trillion over these years on infrastructure
 * 2.62 crore new jobs created in rural, urban areas between 2011-12 and 2017-18 among regular wage/salaried employees
 * 8 per cent increase in regular employment of women in 2017-18 over 2011-12
 * Excessive government intervention in markets, especially when the market can do the job of enhancing citizens welfare perfectly well, stifles economic freedom
 * Debt waivers disrupt the credit culture, reduces formal credit to same farmers
 * Suggests government to systematically examine areas where it needlessly intervenes and undermines markets
 * Calls for improving governance in public sector banks, more disclosures to build trust
 * Calls for measures to make it easier to start new business, register property, pay taxes, enforce contracts
 * Easing of crude prices lowers current account deficit; imports contract more sharply than exports in first half of current fiscal
 * Declining inflation from 3.2 per cent in April 2019 to 2.6 per cent in December 2019, reflecting weakening demand pressure in the economy
 * GST collections grew by 4.1 per cent for the centre during April-November 2019. JD ANS
ANS

Economic Survey 2019-20 highlights

The Narendra Modi goverment has gone all out to woo voters across social segments — not just the ones in rural India. The Indian middle class had been watching this budget with a lot of hope for relief and stand-in finance minister, Piyush Goyal, did not disappoint. He stated, "Reducing the middle-class tax burden has been a priority of the government." However, these are proposals have to be approved by the Parliament, and given that this is an interim budget, the opposition may try to stall it. Here are the big takeaways for the Indian middle class: 1. No tax on income up to ₹500,000. The benefit will be available through rebates. The current limit for zero tax is ₹250,000. "The benefit will be to only those taxpayers whose total income doesn’t exceed ₹500,000. The moment it exceeds ₹500,000, tax will start from ₹250,0000 at 5% up to ₹500,000 and 20% from ₹500,000 to ₹1 million," according to Ved Jain, former president of the Institute of Chartered Accountants of India. You won’t have to pay any tax if you have ₹7.5 million tucked away in fixed deposits and no other income because you'll only be earnings ₹450,000 a year assuming an interest rate of 6%. Piyush Goyal, the interim finance minister who presented the budget, also clarified that even people will gross income of up to ₹650,000 may not be required pay any income tax if they make investments in provident funds, specified savings and insurance etc. 2. No tax deduction at source (TDS) on interest received from banks and post office deposits for up to ₹40,000, increased from ₹10,000. That means interest accrued from fixed deposits of up to ₹670,000, assuming an interest of 6%, will not be taxed. 3. No TDS on house rent up to ₹240,000 a year, raised from ₹180,000 earlier. This move gives tax-related relief to individuals who are dependent on rental income. 4. Standard deduction from income increased to ₹50,000 from ₹40,000 a year. Standard deduction is a fixed amount of deduction, which can be reduced by salaried taxpayers, from their gross salary. The feature was introduced during last year's budget after the Finance Act 2005 was scrapped. 5. If you own two self-occupied properties, there will be no 'notional rent' on both properties. Currently, there notional rent was applicable on all properties but one, even if they were occupied by the same family. This will benefit families that live apart due to work or other reasons. 6. Exemption from Capital Gain on sale of residential house under Section 54 has been extended to purchase of 2 residential house subject to maximum capital gain of ₹20 million. This option can be claimed once in a lifetime. It's not that government left the poor section of the economy out of the conversation. When keeping the reservations that are already in place intact, the governmetn has ensured an additional 10% of reservation for the poor in government jobs and education. An additional 600 billion has been allocated towards the Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA) as well.

Here is how the Budget 2019 benefits the Indian middle class

<keyword id="4127459" type="General" weightage="20" keywordseo="electoral-bonds" source="Orion">Electoral bonds</keyword> worth Rs 3,429.56 crore were redeemed by parties in <keyword id="7282869" type="General" weightage="20" keywordseo="2019-20" source="Orion">2019-20</keyword>, and 87.29 per cent of this was received by four national parties - the <keyword id="14666" type="General" weightage="20" keywordseo="bjp" source="Orion">BJP</keyword>, <keyword id="1575" type="General" weightage="20" keywordseo="congress" source="Orion">Congress</keyword>, TMC and the NCP, poll rights group Association for Democratic Reforms (ADR) said. In a new report, the ADR said the BJP declared a total income of Rs 3,623.28 crore during the financial year 2019-20, but spent only 45.57 per cent (Rs 1,651.022 crore) of it. The Congress' total income in 2019-20 was Rs 682.21 crore. The party spent Rs 998.158 crore, which exceeds its income for that year by 46.31 per cent, it said. The TMC declared a total income of Rs 143.676 crore during FY 2019-20, and spent Rs 107.277 crore (74.67 per cent), the <keyword id="3825940" type="General" weightage="20" keywordseo="adr-report" source="Orion">ADR report</keyword> added. "As per the data shared by SBI in response to ADR's RTI application, electoral bonds worth Rs 3,429.5586 crore were redeemed by parties in FY 2019-20. Of this, 87.29 per cent was received by four national parties - BJP, INC, AITC &amp; NCP," it said. "The total amount of electoral bonds declared by national and regional parties for FY 2019-20 so far is Rs 3,441.324 crore. The difference in the amount declared by political parties and the data on EBs redeemed received from SBI could be due to the manner in which parties report in their audit report," the ADR said. "Seven national parties (BJP, Congress, CPM, NCP, BSP, AITC and CPI) have declared a total income of Rs 4,758.206 crore, collected from all over India," it said. The poll rights body said national parties that received the maximum income from donations or contributions include the BJP (Rs 3,427.775 crore), the Congress (Rs 469.386 crore), AITC (Rs 108.548 crore), CPM (Rs 93.017 crore) and CPI (Rs 3.024 crore). "Four national parties namely BJP, INC, AITC and NCP collected 62.92 per cent (Rs 2,993.826 cr) of their total income from donations through electoral bonds for FY 2019-20. BJP received donations through electoral bonds worth Rs 2,555.0001 crore, Congress received Rs 317.861 crore, AITC received Rs 100.4646 crore and NCP received Rs 20.50 crore," the report said. The report added that the most common and popular items of expenditure for national parties in FY 2019-20 were election expenses or general propaganda and administrative or general expenses. It also said that between 2018-19 and 2019-20, the BJP's income increased by 50.34 per cent (Rs 1,213.20 crore) from Rs 2,410.08 crore to Rs 3,623.28 crore. The Congress's income decreased by 25.69 per cent (Rs 235.82 crore) from Rs 918.03 crore during 2018-19 to Rs 682.21 crore during 2019-20. "Between FY 2018-19 and 2019-20, the highest percentage increase in income was declared by the NCP of 68.77 per cent (Rs 34.873 crore) from Rs 50.71 crore during FY 2018-19 to Rs 85.583 crore during FY 2019-20," it said. SEE ALSO <a href="https://www.businessinsider.in/science/health/news/mukesh-ambanis-reliance-life-sciences-gets-approval-to-conduct-trials-for-its-covid-19-vaccine/articleshow/85677741.cms">Mukesh Ambani-owned Reliance Life Sciences' COVID-19 vaccine — here's all we know so far</a> <a href="https://www.businessinsider.in/business/auto/news/tata-motors-is-the-casualty-of-jlr-struggling-due-to-the-global-chip-shortage-and-a-lacklustre-ev-vision/articleshow/85652897.cms">Tata Motors is paying the price because Jaguar Land Rover has been slow in the EV race</a>

Electoral bonds worth over ₹3,400 crore redeemed by parties in 2019-20, says ADR report

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Shopify; Carbon; Visible; Snap; Samantha Lee/Business Insider</div></div></div>The $221 billion <keyword id="35666" type="COMPANY" weightage="100" keywordseo="advertising">advertising</keyword> industry is facing an onslaught of challenges, but a new crop of marketers is rising to the occasion.With this inaugural list, which is separate from our annual compilation of <a href="https://www.businessinsider.com/most-innovative-chief-marketing-officers-2019-6">the 25 most innovative CMOs in the world</a>, Business Insider is recognizing the up-and-comers rethinking the status quo and reshaping marketing.They're rising stars who have not gotten widespread recognition for their work, whether it's pioneering ways of melding data and marketing or creatively reaching consumers.They're first-time marketing chiefs. They're CMOs who've had the top marketing role at their companies for a handful of months. They're the executives behind a challenger brand's ascent. They don't necessarily hold the CMO title but are the senior marketing execs effecting change in their companies and industry.Scroll on to see the 20 people, listed in alphabetical order, who are the CMOs to watch in 2019.<h2>Methodology</h2>We relied on a mix of our own reporting, nominations from readers, and industry experts to narrow down the finalists. We chose them based on the breadth of their roles and responsibilities, the scope of the changes they've introduced, and their influence on company performance and their industry.The list is diverse in a variety of ways. It represents a cross-section of industries from beauty to social media and established companies such as MillerCoors and Shake Shack as well as challenger brands like Curaleaf and Carbon. Sixty percent of the executives on the list are women. Thirty percent are people of color.<a href="https://www.businessinsider.com/intelligence/top-10-trends-in-digital-media?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_leadgen&amp;itm_content=advertising&amp;itm_campaign=top-10-trends-in-digital-media"></a>

The 20 CMOs to watch in 2019

The 20 safest SUVs for 2019

<div class="KonaFilter image-container display-table"><div><div class="image on-image">MazdaMazda CX-5</div></div></div><ul class="summary-list"><li>The Insurance Institute for Highway Safety (IIHS) released on Wednesday its picks for the safest cars from model year 2019.</li><li>The organization gave 20 SUVs its "top safety pick" designation.</li><li><a href="https://www.businessinsider.com/category/hyundai">Hyundai</a> had four SUVs on the list, more than any other automaker.</li></ul> The <a href="https://www.iihs.org/iihs/ratings/TSP-List">Insurance Institute for Highway Safety</a> (IIHS) released on Wednesday its picks for the safest cars from model year 2019. The organization gave 20 SUVs its "top safety pick" designation. Of those vehicles, nine were included in the organization's highest tier, "top safety pick+." To earn "top safety pick+," a vehicle must perform well in a variety of crash tests. The vehicle must receive a "good" rating in tests related to its front, side, roof, and head restraints, an "advanced" or "superior" rating for front crash prevention and a "good" rating for its headlights. (The requirements to earn "top safety pick" are similar, though the vehicle can receive an "acceptable" rating for a test involving its front passenger-side small overlap and an "acceptable" rating for its headlights.)Hyundai had four SUVs on the list, more than any other automaker. <a href="https://www.businessinsider.com/category/honda">Honda</a> and <a href="https://www.businessinsider.com/category/mazda">Mazda</a> each landed three SUVs on the list.These are the 20 safest SUVs for model year 2019, according to the IIHS.

New Delhi, Mar 13 () Engineering firm Thermax on Friday announced an interim dividend of Rs 7 per equity share of face value of Rs 2 each for 2019-20. "The Board of Directors at their meeting held today i.e. March 13, 2020 have approved payment of interim dividend of Rs 7 per equity share of face value Rs 2 each (350 per cent), for the financial year 2019-20," a BSE filing said. According to statement, the dividend will be paid to those members whose names appear in the Register of Members on March 23, 2020. KKS MR

Thermax announces 350pc interim dividend for 2019-20

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://www.reutersconnect.com/all?id=tag%3Areuters.com%2C2017%3Anewsml_RC1E41AC2F40%3A308770069&amp;search=all%3Aqatar%20airways">Reuters/PASCAL ROSSIGNOL</a>A Qatar Airways crew member.</div></div></div><ul class="summary-list"><li>The aviation research firm <a href="https://www.worldairlineawards.com/" target="_blank" rel="noopener">Skytrax announced</a> its 2019 ranking of the best airlines in the world on Tuesday.</li><li><a href="https://www.businessinsider.com/category/qatar-airways">Qatar Airways</a> landed in the top spot, knocking last year's winner, <a href="https://www.businessinsider.com/category/singapore-airlines">Singapore Airlines</a>, to second-place.</li><li>American carriers again struggled to break into the top-ten rankings this year. No US-based airlines made it into any of the top 35 spots year. The top-ranked US carrier, JetBlue, pulled in at No. 40.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories.</a></li></ul>Qatar Airways has been crowned the best airline in the world for 2019, according to the consumer-aviation website <a href="https://www.worldairlineawards.com/">Skytrax</a>. The airline moved up one spot from the 2018 list, when it ranked second behind Singapore Airlines, which placed second on this year's list.The website ranked airlines based on over 21 million survey responses from airline passengers. No US-based airlines made the list of the world's 20 best airlines.Read on to see how the world's best airlines fared:

The 20 best airlines in the world for 2019

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Airbus</div></div></div><ul class="summary-list"><li><a href="https://www.insider.com/category/skytrax">Skytrax</a> has released its annual list of the best airlines in every category. </li><li>AirAsia once again topped the list for low-cost carriers, with Southwest being the only American airline to make the cut. </li></ul>The coveted annual rankings from Skytrax are here.For the 11th year running, <a href="https://www.insider.com/category/air-asia">AirAsia</a> has maintained its top spot as the best low-cost airline, according to the British consulting firm.Skytrax compiled the awards through an online survey across nine months, from September 2018 to May 2019, in six languages. This year, the company says, it saw "substantial increases" in voting in Spanish and Chinese.Southwest is the only American carrier to make the budget rankings, coming in at number four. Here are the rest of the top low-cost carriers for 2019:

These are the 20 best budget airlines for 2019

The 20 most popular jobs of 2019

<div class="KonaFilter image-container display-table lead-image-large"><div><div class="image on-image"><a href="https://www.flickr.com/photos/ucdaviscoe/7375857920/in/album-72157630302774864/">Kevin Tong/UC Davis/Flickr/Attribution</a>The number of jobs in nanotechnology research and development grew by 9.3% between January and September 2019.</div></div></div><ul class="summary-list"><li>Using data from the Bureau of Labor Statistics, we found the 20 industries with the most job growth between January and September 2019.</li><li>The oil industry, interior design services, and nanotechnology research all had high growth this year.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>Jobs in the oil industry, interior design, and nanotechnology have been extremely popular in 2019.Using data from the Bureau of Labor Statistics, we compared employment numbers for industries from <a href="https://www.bls.gov/opub/ee/2019/ces/table1a_201903.htm">January 2019</a> to those from <a href="https://www.bls.gov/opub/ee/2019/ces/table1a_201910.htm">September 2019</a> (the most recent month for which data on detailed industries is available). We found the industries with the highest percent job growth over that period.Here are the 20 jobs that had the fastest growth so far in 2019:

Mumbai, Mar 5 () Maharashtra's economy is expectedto grow at 5.7 per cent during 2019-20, marginally down fromthe last fiscal's projection of six per cent, the EconomicSurvey presented in the state Legislature on Thursday said.The agriculture and allied activities are expected togrow at 3.1 per cent in 2019-20, it said.The survey said the industry and services sectors areexpected to grow at 3.3 per cent and 7.6 per cent in 2019-20,slower than the previous fiscal's 5.5 per cent and 8.1 percent respectively.The average share of the state's contribution is 14.3per cent among all the states in the All India nominal GDP, itsaid.Nominal GSDP is expected to increase by Rs 2,45,791crore in 2019-20 as compared to 2018-19.The per capita state income in 2019-20 is expected tobe Rs 2,07,727.The GSDP in 2019-20 is expected to be Rs 28,78,583crore, it added.The growth rate of the agriculture and allied sectorin 2018-19 was negative (-2.2) per cent. In 2017-18, thegrowth rate was -0.7 per cent.The revenue deficit in 2019-20 is Rs 20,293 crore,fiscaldeficit Rs 61,670 crore and the debt stock was Rs4,71,642 crore, the report said.The percentage of fiscal deficit to GSDPis 2.1 percent and debt stock to GSDP is 16.4 per cent.Both the indicators are within the fiscal limitsprescribed by the 14th Finance Commission.The state witnessed average rainfall of 73.6 per centof the average during 2018-19, less by 10.7 per cent in 2017-18.In2018-19,the production of food grains and fruits,and vegetables decreased by 27.3 per cent and 10.1 per centrespectively, whereas sugarcane, oilseeds and cottonincreased by 8 per cent, 16.1 per cent and 8.2 per centrespectively over the previous year.The survey said the unemploymentratein January toMarch 2019 was 8.3 per cent as compared to 9.6 per centinOctober to December 2018.Total 37,567 offences were reported in the state in2019, in which women were victims, as compared to 35,497 in2018 and 31,997 in 2017, the report noted.FDI inflows in 2019-20 was Rs 25,316 crore, which isless as compared to Rs 80,013 crore in 2018-19 and Rs 86,244crore in 2017-18.Maharashtra was second in the country after Karnatakain terms of FDI in 2019-20, it said.The state received 112.6 per cent rainfall during themonsoon of 2019.Of the 355 talukas, excluding Mumbai city and suburbs,152 talukas received excess rainfall, 182 got normal rainfalland 21 received deficient rainfall, the survey report said.During the kharif season of 2019-20, sowing wascompleted on 149.61 lakh hectare area.Production of cereals, pulses, oilseeds and cotton isexpected to increase by nine per cent, three per cent, one percent and 24 per cent respectively, while the production ofsugarcane is expected to go down by 36 per cent as compared tothe previous fiscal.During 2019-20, the area under rabi crops is 50.87lakh hectares, which is 5.6 per cent more as compared toprevious year.Theproduction of cereals and pulses is expected to goup by 43 per cent and 23 per cent respectively, while theproduction of oilseeds is expected to decrease by 24 per cent.The survey said that Mahatma Jyotirao Phule FarmWaiver Scheme 2019 has been approved (by the MVA government)to waive overdue loans borrowed between April 1, 2015 andMarch 31, 2019 up to Rs two lakh, including the principalamount and the interest, as on September 30, 2019.The state government has provided Rs 15,000 croreduring 2019-20 for its implementation.Irrigationpotential created as one June 30, 2019 bymajor, medium and minor irrigation (state projects) was 51.23lakh hectares and the actual irrigated area was 35.97 lakhhectares (70.2 per cent) during 2018-19, it said.The irrigation potential created as on June 30, 2019by minor irrigation (local sector) projects was 18.96 lakhhectares and the potential utilised was 8.49 lakh hectares(44.8 per cent) during 2018-19.Unseasonal rains during October-November 2019 due tocyclones Kyarr and Maha, affected agriculture and horticulturecrops from 349 talukas in 34 districts, the report said.Compensation for Rs 8,000 per hectare for agriculturecrops and Rs 18,000 per hectare for horticulture crops wassanctioned, the report said. MRNP NP

Maha's economy to grow at 5.7% in 2019-20: Economic Survey

Mumbai, Apr 7 () A surge in bullion and energy turnover has helped the country's largest commodities bourse Multi Commodity Exchange (MCX) further strengthen its market leadership, achieving a record market share of 94.01 per cent in 2019-20. The spike in market share can be attributed to the launch of more products on the MCX platform during the year. The market share of the exchange had stood at 91.58 per cent in 2018-19. The other three exchanges -- the BSE, NSE and the ICX, which primarily deals only in bullion -- together enjoy 6 per cent of the market, with the BSE leading among them. The overall turnover in futures trading rose 27.40 per cent to Rs 83.97 lakh crore in the just-concluded fiscal year, according to the exchange data. In the financial year 2019-20, the average daily turnover of futures trading on the bourse was Rs 32,423 crore, an increase from Rs 25,647 crore in 2018-19, or a growth of 26.42 per cent. According to the latest data available on the exchange website, bullion turnover almost doubled in the year, to be precise, grew 92.59 per cent over the previous year, and energy turnover grew 55.58 per cent. The turnover in bullion contracts was pegged at Rs 29,15,532 crore in the just-concluded fiscal, an increase from Rs 15,13,817 crore in 2018-19. The exchange also recorded its highest daily bullion derivatives turnover at Rs 35,112.36 crore on March 16, after the levy of the commodities transaction tax in July 2013. The newly-designed one-gram gold futures contract saw successful delivery of 8,090 coins since November 2019, the exchange said. Turnover in the energy contracts surged to Rs 38,13,027 crore from Rs 24,50,777 crore in 2018-19, while that of base metals plunged to Rs 15,68,294 crore from Rs 25,25,601 crore in 2018-19 even though in terms of absolute volume, the total quantity of base metals delivery stood at 74,206 million tonne through the exchange mechanism. The steep fall in value could be attributed to the falling prices of the commodity. Agri futures turnover marginally slipped to Rs 1,00,919 crore from Rs 1,01,232 crore in 2018-19. In the reporting financial year, the exchange successfully completed physical deliveries of 24,924 million tonne of aluminium, 18,777 million tonne of copper, 4,993 million tonne of lead, 1,114 million tonne of nickel and 24,397 million tonne of zinc on the exchange platform, show the exchange data. The MCX counter gained 2.3 per cent to Rs 1,009.90 on the BSE whose benchmark Sensex rallied close to 9 per cent on reports of some respite in COVID-19 infections across the globe. BEN HRS

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