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Union Budget 2018 Highlights
By: Tupaki Desk | 1 Feb 2018 8:23 AM GMT
Union Finance Minister Arun Jaitley presented the final Budget of NDA's First Term in Parliament on Thursday. Here are the highlightsâ¦
Fiscal Deficit - 3.3 percent of GDP
Tax Payers increased from 6.4 crore to 8.27 crore
Corporate Tax reduced to 25 percent from 30 percent for companies with annual turnover of up to Rs 250 crore
Personal Income Tax Slabs remains unchanged
100 percent tax rebate for farmer producer companies with a turnover of Rs 100 crore
Exemption on interest income increased from Rs 10,000 to Rs 50,000 for Senior Citizens. This rule is applicable to Fixed Deposit schemes.
Long-Term Capital Gains exceeding Rs 1 lakh to be taxed at 10 percent
Flagship Healthcare Scheme to cover 10 crore poor families in the country. Each family will be provided Rs 5 lakh per year.
RISE (Revitalizing Infrastructure in School Education) - Rs 1 lakh crore for four years to improve school infrastructure. Digital Boards will replace Blackboards. Eklavya Schools for Scheduled Tribes.
One Government Medical College in every 3 Lok Sabha segments.
Mass formalization of MSME Sector happened after Note Ban and GST
Rs 3 lakh crore for PM MUDRA Yojana
Rs 56,619 crore for SC Welfare and Rs 39,135 crore for ST Welfare
99 Smart Cities identified with an outlay of Rs 2.04 lakh crore
Completion of National Highways over 9,000 km under Bharatmala Project
Wi-Fi, CCTV and other Amenities in all Trains
Over Rs 1.48 lakh crore allocated for Railways in next fiscal
Measures to curb crypto currencies such as Bitcoin
Salaries of President, Vice President and Governors to be hiked to Rs 5 lakh, Rs 4 lakh and Rs 3.5 lakh respectively.
No education cess on imported goods. Instead, Social Welfare surcharge of 10 percent will be levied
Customs Duty on raw cashew reduced to 2.5 percent from 5 percent
Central Board of Excise and Customs is now Central Board of Indirect Taxes and Customs
Fiscal Deficit - 3.3 percent of GDP
Tax Payers increased from 6.4 crore to 8.27 crore
Corporate Tax reduced to 25 percent from 30 percent for companies with annual turnover of up to Rs 250 crore
Personal Income Tax Slabs remains unchanged
100 percent tax rebate for farmer producer companies with a turnover of Rs 100 crore
Exemption on interest income increased from Rs 10,000 to Rs 50,000 for Senior Citizens. This rule is applicable to Fixed Deposit schemes.
Long-Term Capital Gains exceeding Rs 1 lakh to be taxed at 10 percent
Flagship Healthcare Scheme to cover 10 crore poor families in the country. Each family will be provided Rs 5 lakh per year.
RISE (Revitalizing Infrastructure in School Education) - Rs 1 lakh crore for four years to improve school infrastructure. Digital Boards will replace Blackboards. Eklavya Schools for Scheduled Tribes.
One Government Medical College in every 3 Lok Sabha segments.
Mass formalization of MSME Sector happened after Note Ban and GST
Rs 3 lakh crore for PM MUDRA Yojana
Rs 56,619 crore for SC Welfare and Rs 39,135 crore for ST Welfare
99 Smart Cities identified with an outlay of Rs 2.04 lakh crore
Completion of National Highways over 9,000 km under Bharatmala Project
Wi-Fi, CCTV and other Amenities in all Trains
Over Rs 1.48 lakh crore allocated for Railways in next fiscal
Measures to curb crypto currencies such as Bitcoin
Salaries of President, Vice President and Governors to be hiked to Rs 5 lakh, Rs 4 lakh and Rs 3.5 lakh respectively.
No education cess on imported goods. Instead, Social Welfare surcharge of 10 percent will be levied
Customs Duty on raw cashew reduced to 2.5 percent from 5 percent
Central Board of Excise and Customs is now Central Board of Indirect Taxes and Customs
