Government has taken various measures to boost the incomes especially rural incomes to usher spending and consumption levels in the economy.
- Increase in the Minimum Support Prices (MSPs) for all mandated Rabi crops and Kharif crops for 2019-20 season.
- To provide an assured income support to the small and marginal farmers, the cash transfer scheme Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) providing an income support of Rs.6,000 per year has been extended to all eligible farmer families irrespective of the size of land holdings.
- With a move towards attaining universal social security, Government has approved a new scheme that offers pension coverage to the trading community. Under this scheme all shopkeepers, retail traders and self-employed persons are assured a minimum monthly pension of Rs.3,000 per month after attaining the age of 60 years.
- e.f. 1st August 2019, GST rate on all electric vehicles has been reduced from 12 per cent to 5 per cent and of charger or charging stations for EVs from 18 per cent to 5 per cent . Hiring of electric buses (of carrying capacity of more than 12 passengers) by local authorities will be exempted from GST.
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