In presenting the Budget 2019, the FM Nirmala Sitharaman proposed budget details for FY2019-20 where she proposed that government will create a dedicated payment platform for MSMEs to enable filling bills and payment on the platform itself.
To promote rental housing, the FM proposed several reform measures.
In railway development, government would need to make an investment of Rs. 50 lakh crore between 2018 and 2030. To encourage people for the electric vehicles, the FM proposed to offer upfront incentive on purchase of EVs.
In the March of this year, the PM Modi launched the National Common Mobility Card for people to pay for transport charges across India. This card runs on RuPay card and allows commuters to pay for bus charges and parking charges.
As per FM Nirmala Sitharaman 100% FDI will be permitted for insurance intermediately.
To boost the NRI investment in Indian capital market, the FM Nirmala Sitharaman proposes to merge the NRI portfolio investment scheme route with FPI route.
FM Nirmala Sitharaman also talked about how the country has emerged as a major space power and it is time to harness this ability commercially. In doing so, New Space India Limited, a public sector enterprise, has been incorporated to tap the benefits of R&D carried out by ISRO.
She also pointed out that all our efforts are centered on the Gaon, Garib, and Kisan of our country.