Finance Minister Piyush Goyal today tabled Interim Budget for 2019-2020 that has plenty to cheer for farmers, working class and tax-payers. Tax exemption till Rs 5 lakh, Rs 6000 per annum for farmers with less than two hectares of land and pension sceheme for those working in unorganised sector are some major highlights. All farmers with less than 2 hectares of land holding will receive Rs 6000 per year. The amount will be distributed in three instalments and transferred directly to farmers' bank accounts. This has assured income support for small and marginal farmers has been approved under Pradhan Mantri Kisan Samman Nidhi.
'This initiative will benefit 12 crore small and marginal farmers, at an estimated cost of Rs. 75,000 crore, this will enable farmers to earn a respectable living,' said Goyal in the Lok Sabha.
In place of rescheduling of crop loans, all farmers affected by severe natural calamities will get two per cent (2%) interest subvention and an additional three per cent (3%) interest subvention upon timely repayment.