UNION BUDGET 2018 HIGH LIGHTS
• Propose to increase the custom duty on mobiles
from 15% to 20% and on some other mobile parts to 15%, and some parts of TVs to
15%.
• Propose to increase the health and education cess to 4%
• Propose to tax long term capital gains exceeding
Rs 1 lakh in listed stock at 10%.
• Rs 50,000 additional benefit to senior citizens
for investment in mediclaim.
• A standard deduction of additional Rs 40,000 for
salaried employees. This move will benefit 2.5 crore taxpayers.
• No changes in the structure of income tax of individuals.
• Rs 7000 crore will be the revenue foregone for
the reduced corporate tax on MSMEs.
• I propose to extend the benefit of the reduced
corporate rate of 25% for companies with reported turnover of up to Rs 250
crore.
• 100% tax deduction for the first five years to
companies registered as farmer producer companies with a turnover of Rs. 100
crore and above.
• 41% more returns were filed this year, which
shows that more people have joined the tax net.
• Demonetisation was received by honest taxpayers
as ‘Imaandaari ka utsav’.
• Revised fiscal deficit estimate for 2017-18 is
3.5% of GDP, fiscal deficit of 3.3% expected for 2018-19.
• Automatic revision of MPs’ emoluments every five
years, indexed to inflation.
• Emoluments of President, Vice President and
Governor being revised: Rs 5 lakh; 4 lakh; Rs 3.5 lakh per month respectively.
• Exceeded the disinvestment target and collected Rs 1 lakh crore: FM.
• The government insurance companies to be merged
into a single entity, and subsequently listed in the stock exchange, as part of
the disinvestment programme.
• The government will assign every enterprise in
India a unique ID on the lines of Aadhaar.
• The government has identified 372 basic business
reform actions. Each state will take up these reforms.
• We will explore the use of blockchain.
• Rs 5.97 lakh crore allocated for infrastructure spending in India.
• 5 lakh WiFi hotspots to be set up in rural areas
to provide easy Internet access.
• Redevelopment of 600 major railway stations has
been taken up; Mumbai transport system is being expanded; suburban network of
160 km planned for Bengaluru.
• The government proposes to revamp the system of
sanctioning of loans to SMEs. The information required for sanctioning the loan
will be linked with GSTN and all required information can be fetched from GSTN
Portal. It will help to grant the loans quickly and will help in reducing
processing time.
• UDAN will connect 56 unserved airports in India.
• An institute is coming up at Vadodara to train
people for the bullet train programme.
• AMRUT programme will focus on water supply to
all households in 500 cities. Water supply contracts for 494 projects worth
19,428 core awarded.
• Rs 1,48,528 crore is the capital expenditure for
the Indian Railways for 2018-19... All trains to be progressively provided with
WiFi, CCTV and other state-of-the-art amenities.
• Bharatmala project approved for better road
connectivity at Rs 5.35 lakh crore.
• Proposal to develop 10 prominent tourist
destinations as Iconic tourism destinations.
• Women’s contribution reduced to 8.33% towards PF
in the first 3 years for new EPF accounts... The government will contribute 12%
of EPF contribution for new employees in all sectors.
• 70 lakh farming jobs have been created this
year, shows an independent study.
• Rs 3 lakh crore allocated for PM MUDRA Yojana.
• The government is slowly but steadily
progressing towards universal health coverage.
• Announce allocation of Rs. 56,619 crore for SC
welfare and Rs. 39,135 crore for ST welfare
• Healthcare stocks trading higher after the
government said it proposed to cover 100 million families via healthcare
protection scheme. Apollo Hospital Ltd rose 4.1%, Thyrocare Technologies Ltd
2.6%, Healthcare Global Enterprises Ltd rose 3%.
• Mass formalization of MSME sector is happening
after demonetization and GST.
• Total 187 projects sanctioned under the Namami Gange programme.
• 24 new government medical colleges and hospitals
to be set up by upgrading existing district hospitals.
• Rs 600 crore for nutritional support to TB patients.
• One medical college per every three constituency.
• Have decided to take healthcare protection to a
new aspirational level. Launching a flagship National Health Protection Scheme
to cover 10 crore poor and vulnerable families, benefiting approx. 50 crore.
Providing Rs 5 lakh per family per year for medical reimbursement, under
National Health Protection Scheme. This will be world’s largest health
protection scheme
• Rs 1200 crore for the flagship programme in health wellness centres.
• Eighteen new schools of planning and architecure
will be set up... I propose railway university in Vodadara.
• Eklavya schools to be started for Scheduled
Tribe population... Scheme for revitalizing school infrastructure, with an
allocation of 1 lakh crore rupees over four years. Called RISE - Revitalizing
Infrastructure in School Education.
• Integrated B.Ed programme to be initiated for
teachers, to improve quality of teachers.
• Technology will be the biggest driver in improving education.
• Rs 14.34 lakh crore to be spent for providing
livelihood to rural India through infrastructure building.
• Loans to self help groups will increase to Rs 75,000 crore by March
2019.
• We aim that by 2022, all poor people have a house to live in.
• In the next financial year, we target the construction of two crore
toilets.
• Removal of crop residue to be subsidised in
order to tackle the problem of pollution due to burning of crop residue:
• Ujwala will give 8 crore women new LPG connections.
• Special scheme to address air pollution in Delhi-NCR region.
• Fishery and aquaculture and animal husbandry
funds with a total corpus of Rs 10,000 crore.
• Agri-Market Development Fund with a corpus of Rs
2000 crore to be set up for developing agricultural markets.
• Restructured National Bamboo Mission to be
launched with an allocation of Rs 1290 crore to promote bamboo sector in a
holistic manner.
• Grameen Agricultural Market (GRAM) will provide
farmers a means to sell directly to buyers.
• Rs 500 crore announced for Operation Green.
• Allocation to food processing ministry is being
doubled from Rs 715 crore to Rs 1400 crore.
• Cluster-model approach to be adopted for agricultural production.
• The focus is on low-cost farming, higher MSP.
Emphasis is on generating farm and non-farm employment for farmers.
• 470 APMCs have been connected to eNAM network,
the rest to be connected by March 2018... Agri-Market Development Fund with a
corpus of 2000 crore to be set up for developing agricultural markets
• Desh mein krishi utpadan record star par hai,
2022 tak kisaano ki aay dugni karenge.
• Agri-related stocks gain after it is said MSP
for all crops to be increased by 1.5 times. Kaveri Seeds Co Ltd rose 2.4%, Jain
Irrigation Systems Ltd 2.1%, Escorst Ltd rose 5%, Mahindra & Mahindra Ltd
rose 2.2%.
• The government will ensure payment of full MSP
even if farmers sell below MSP.
• The Minimum Support Price of all crops shall be
increased to at least 1.5 times that of the production cost.
• Our government has ensured that services and
benefits reach people directly. The direct benefit transfer in India is the
biggest such exercise in the world.
• Maximum governance, minimum government has
ensured India has climbed 42 places in the ease of doing business... We are now
working toward easing of living in India
• Budget 2018 will focus on agriculture and rural
economy, health, infra, senior citizens: FM
• India grew at an average of 7.5% in the first
three years since 2014. It is now a 2.5 trillion dollar economy.
• All the structural reforms will help the economy
in the short and long-term... India is expected to become the fifth largest
economy very soon.
• Our government has implemented structural reforms.
• India stands out as the fastest growing economy
in the world... There is a premium on honesty.
• Finance minister Arun Jaitley begins his Budget speech.
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