Budget 2018 :: Read Hither Spousal Human Relationship Budget 2018 Primal Highlights In Addition To Summary
August 18, 2019
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Budget 2018 Summary
Dear Students, Today on 01st Feb 2018, Thursday, Finance Minister Arun Jaitley Presented Union Budget 2018. We are sharing Key Highlights Union Budget 2018 (Fiscal Situation, Tax, Imports together with Exports, Agriculture, Rural Economy, Education, Health,Social Security, MSME, Employee-centric schemes, Infrastructure, Railways, Aviation, Markets, Technology, Companies, Banking together with Industries).
Union Budget 2018 Key Highlights
Budget 2018 - Fiscal Situation:
Fiscal deficit is 3.5% of gross domestic product at Rs 5.95 lakh crore inward 2017-18. Projecting financial deficit to live on 3.3% of gross domestic product inward the side yesteryear side fiscal.
GST revenue volition live on received exclusively for eleven months, that volition create got an lawsuit on residue sheets
Rs 21.57 lakh crores transferred every bit internet GST to states every bit against projection of Rs 21.47 lakh crores
Budget 2018 - Tax
85.51 lakh novel taxation payers filed income taxation returns inward FY17
NO PERSONAL INCOME TAX CHANGES PROPOSED IN BUDGET
Growth inward straight taxes (till January 15) is 18.7 %
100% taxation deduction is allowed to co-operative societies
Corporate Tax of 25% extended to companies alongside turnover upward to Rs 250 cr inward financial twelvemonth 2016-17
Incentives for Senior citizens: Exemptions inward income of Rs 10,000 from Banks FD together with postal service offices
Senior citizens to acquire Rs 50,000 per annum exemption for medical insurance nether Sec 80D
Standard deduction of Rs 40,000 allowed for transport, medical reimbursement for salaried taxation payers
Govt to trim back hardships faced inward realty deals; no adjustment to live on made inward illustration circle charge per unit of measurement does non occur v pc of sale consideration
Rs 8,000 crore revenue lost due to measure deduction allowed to salaried employees
Rs 7,000 cr revenue forgone on concern human relationship of lower corporate taxation for Rs 250 cr turnover cos
Rs 19,000 cr revenue loss on straight taxation inward final fiscal
LONG TERM CAPITAL GAINS EXCEEDING RS 1 L AKH WILL BE TAXED AT 10% WITHOUT INDEXING
Short term uppercase taxation remains at 15%
H5N1 taxation on distributed income at 10%
Budget 2018 - Imports together with Exports
Customs Duty on for certain products, such every bit mobile phones together with televisions has been increased, to furnish a fillip to 'Make inward India'
Social welfare surcharge of 10% on imported goods.
Budget 2018 - Agriculture
The government's emphasis volition live on on generating higher incomes for farmers, yesteryear helping them create to a greater extent than alongside lesser cost, together with inward turn, earn higher income for their produce.
Jaitley stressed on the fact that India's farm production is at a tape high grade today. 275 i G m tonne foodgrains together with 300 i G m tonne fruits together with vegetable create got been produced inward the country.
The FM said the regime wants farmers to earn 1.5 times the production cost, together with the Minimum Selling Price (MSP) for the Kharif Crops has been laid at 1.5 times the create price. Jaitley said the Centre volition run alongside states to ensure that all farmer acquire a fair price.
Agricultural marketplace together with infra fund of Rs 2000 crore fund volition live on ready to strengthen the marketplace connectivity.
H5N1 amount of Rs 500 cr volition live on allocated for Operation Green to live on launched. It volition promote agricultural products.
Extend the facility of Kisan credit carte du jour to fisheries together with for beast husbandry
Rs 10,000 crore laid aside for Fisheries together with Aquaculture Development Fund
Rs 10,000 crore laid aside for beast husbandry infra fund
Propose to launch a restructured bamboo mission alongside a fund of Rs 1200 crore . "Bamboo is light-green gold," Jaitley said.
Agricultural credit target increased from Rs 8.5 lakh crore to Rs eleven lakh core
Special system to deal crop trim back inward Haryana, Punjab together with Delhi to trim back pollution
Budget 2018 - Rural Economy
8 crore misfortunate women volition acquire novel LPG connections.
PM Saubhagya Yojana: four crore misfortunate people volition acquire ability connection.
The regime volition pass Rs 16,000 crore on this scheme.
Govt plans to build 2 crore toilets inward side yesteryear side financial twelvemonth nether Swach Bharat Mission
Government target solid for all yesteryear 2022. 51 lakh houses create got been constructed affordable houses inward rural together with farther l lakh houses inward urban areas.
1 cr houses to live on built nether Pradhan Mantri Awas Yojana inward rural areas.
National livelihood system gets Rs 5,750 crore .
In 2018-19, ministries volition live on able to pass Rs 14.34 lakh crores for creation of livelihood inward rural areas.
Govt gives Rs 9,975 crore for social safety schemes for the side yesteryear side financial year.
Budget 2018 - Education
Govt to increment digital intensity inward education. Technology to live on the biggest driver inward improving lineament of education: FM Jaitley
Rs. 1 lakh crore allocated to revitalisation together with upgradation of teaching sector. Promoting learning based outcomes together with research.
By 2022, every block alongside to a greater extent than than l per cent ST population volition create got Ekalvya schools at par alongside Navodaya Vidyalayas
Aims to motion from dark board to digital board schools yesteryear 2022.
PM reasearch fellows: Govt volition position 1000 Btech students each years together with furnish them to attain PHDs inward IIT together with IISc, field likewise teaching undergraduate students i time a calendar week at that time.
Budget 2018 - Health
Aayushman Bharat programme: 1.5 lakh centres volition live on ready to furnish wellness facilities closer to home. Rs 1,200 crore to live on allocated for this programme
Flagship National Healthcare protection scheme, alongside roughly l crore beneficiaries. Up to Rs v lakh per position unit of measurement per twelvemonth for secondary together with third aid hospitalisation. World's largest government-funded healthcare programme.
Universal wellness coverage volition live on expanded after seeing the surgical operation of the scheme
Rs 600 crore allocated for tuberculosis patients, at the charge per unit of measurement Rs 500 per calendar month during the course of report of their treatment.
Jaitley announces setting upward of i medical college for every 3 parliamentary constituencies, alongside 24 New regime medical colleges likewise beingness envisioned. Government likewise volition run on upgrading hospitals to medical colleges
Budget 2018 - Social Security
PM Jivan Bhma Yojana has benefited 5.22 crore families
Govt volition expand PM January Dhan Yojana: Al sixteen crore accounts volition live on included nether micro insurance together with pension schemes
1.26 cr accounts opened nether Sukanya Samriddhi Scheme
Social inclusion schemes for Scheduled Castes - Rs 52,719 crore
Social inclusion schemes for Scheduled Tribes Rs 39,139 crore
Budget 2018 - MSME
Rs 3,794 crore allocated to the MSME sector inward the cast of uppercase back upward together with involvement subsidy By 2022, every block alongside to a greater extent than than l per cent ST population volition create got Ekalvya schools at par alongside Navodaya Vidyalayas
Rs 3 lakh crore target has been laid for the Mudra Yojana
Rs 4.6 lakh cr sanctioned nether MUDRA Scheme
Budget 2018 - Employee-centric schemes
Govt volition contribute 12% of the payoff of novel employees inward EPF inward all sectors for side yesteryear side 3 years
Women contribution to EPF reduced to 8% for get-go 3 years
Budget 2018 - Infrastructure
Republic of Republic of India needs investment of Rs l lakh crore inward the infrastructure sector
Construction of novel tunnel inward Sera Pass to promote tourism
Out of 100 smart cities 99 cities create got been selected, alongside an outlay of Rs 2.04 lakh crore
10 prominent tourist sites volition live on made iconic tourist destinations, alongside an amalgamation of mortal funding, marketing together with branding
Bharatmala project: To develop 35,000 KM nether stage 1 alongside an outlay of Rs 5.35 lakh crore
Govt to innovate pay-as-you-use organisation for toll payments
Budget 2018 - Railways
Railway capex has been pegged at Rs 1.48 lakh crore , upward from Rs 1.31 lakh crore final year
Eliminate unmanned railway crossing
All stations alongside footfall of greater than 25,000 volition create got escalators.
More stations together with trains volition progressively live on built alongside WiFi together with CCTV camera
Govt to eliminate 4267 unmanned runway crossing inward wide guess inward 2 years
Allocates Rs 11,000 crore Bombay runway network together with Rs 17,000 crore for the Bengaluru metro
150 km of additional suburban railway networks to live on ready inward Bengaluru at the cost of Rs 17,000 cr.
Budget 2018 - Aviation
Airport Authority of Republic of Republic of India (AAI) has 124 airports. Propose to increment the publish yesteryear at to the lowest degree v times 1 billion trips a year, Rs lx cr has been allocated to kickstart the initiative
UDAN Scheme to connect 64 unconnected airports across the country
Budget 2018 - Markets
Govt to create got additional measures to strengthen surround for venture capitalists together with angel investors.
SEBI to consider mandating large corporations to run across 1/4th of their debt needs
SEBI to mull bespeak large cos to run across 25% debt from bond market
RBI norms to nudge companies to access bond marketplace for funds
Budget 2018 - Technology
Allocation to Digital Republic of Republic of India system doubled to Rs 3073 cr
v lakh WiFi HotSpots to furnish Broadband access to v crore rural citizens, at the cost of Rs 10,000 cr.
Government volition create got measures to halt cryptocurrency circulation, every bit it is non considered legal tender
Government volition explore the usage of Blockchain technology.
Budget 2018 - Companies
AADHAAR FOR CORPORATES? Govt volition evolve a system to assign a Unique ID for cos
Disinvestment target of Rs 80,000 crore for FY19
National Insurance Co, Oriental Insurance Co together with United Assurance Co to live on merged into i entity together with afterward listed
Govt revises divestment target for the electrical current financial to Rs 1 lakh crore for FY 18.
Budget 2018 - Banking
Recapitalisation volition pave the means for populace banks to lend an additional Rs v lakh crore
Budget 2018 - Industries
Rs 7,148 cr allocated for stuff sector
Budget 2018 - Miscellaneous
Emoluments for President laid at Rs v lakh, Rs four lakh for Vice President, Rs 3.5 lakh for governors
Emoluments for Parliamentrians: Law for increment inward pay based on index to inflation
Govt earmarks Rs 150 cr to commemorate 150 years of nativity of Mahatma Gandhi