Union Budget 2019: You don't have to pay income tax for earnings upto Rs 5 lakh

With the Lok Sabha elections only a few months away, acting Finance Minister Piyush Goyal will present NDA government's Interim Budget on Friday amidst a lot of hopes and expectations from across the spectrum of society right from the common people to industries.

Delhi: Piyush Goyal arrives at the Ministry of Finance. He will present interim Budget 2019-20 in the Parliament today. #Budget2019 pic.twitter.com/fHQMwkSXc1

— ANI (@ANI) February 1, 2019

#Delhi: Copies of #Budget2019 brought to Parliament complex; Piyush Goyal to present interim Budget 2019-20. pic.twitter.com/oF3MgBmsdK

— ANI (@ANI) February 1, 2019

The anticipation of announcements from the interim budget as well as expectations of healthy quarterly results led the equity market to rally more than 1.65 per cent as a massive build-up of short positions was witnessed on Thursday. The market rise came on the day of F&O expiry and ahead of the interim budget which will be presented on February 1.

The politically-crucial interest subsidy for short term credit to farmers is likely to be a modest one in the vote-on-account which is to be presented by acting Finance Minister Piyush Goyal on Friday. As compared to two years ago in 2017-18, when this subsidy was Rs 20,339 crore, the subsidy is likely to be around Rs 18,000 crore, a fall of 11 per cent, informed sources said.