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    Published On : Thu, Feb 1st, 2018

    Highlights of the Union Budget 2018-19

    Following are the highlights of his speech:

    Govt levies 10% capital gains tax for Rs 1 lakh gains
    Short-term capital gains tax continues to be 15%
    Capital gains made on shares until Jan 31, 2018 grandfathered
    Customs duties hiked on mobiles to 20 prevent from 15 per cent; on TVs to 15 prevent to boost domestic manufacturing.
    6 crore toilets have been built so far under the Swachh Bharat campaign. The target for the next financial year is to build another 2 crore toilets.
    No change in personal income tax structure, says Arun Jaitley
    Standard deduction of Rs 40,000 for salaried taxpayers, says Arun Jaitley
    Status quo for salaried class, says Arun Jaitley
    25% Corp tax rate extended to companies with turnover up to Rs 250 cr
    FM says Rs 90,000 cr extra collected as personal Income Tax in last 1 year. will continue with tax policies that reward honest tax payers.
    FM Arun Jaitley says propose to allow 100% tax deduction to companies registered as farmer-producer companies with a turnover of Rs 100 crore.
    India produced over 275 million tonnes of foodgrain and 300 million tonnes of fruits and vegetables in 2016-17.
    Crop production at record high; govt is committed to giving 50% more than cost of crop production to farmers.
    Govt to set MSP at one-and-half times the cost of production for Kharif crops.
    Govt will ensure farmers get MSP if prices fall; Niti Aayog will discuss with state govts for mechanism to ensure farmers get better prices.
    Rs 2,000 crore fund to be set up for upgrading rural agri markets.
    Govt has promoted organic farmers in a big way; women self-help groups to be encouraged to take up organic farming.
    Food processing sector growing at 8 pc; allocation for food processing ministry being doubled to Rs 1400 cr.
    India’s agri export potential is $100 bn as against current $30 bn exports, says FM.
    Mass formalisation of MSME sector is happening after demonetisation and GST.
    Target for loan disbursement under Mudra scheme set at Rs 3 lakh crore for next fiscal.
    Govt to soon announce scheme to address the issue of Non-Performing Assets.
    Rs 4.6 lakh cr sanctioned under MUDRA Scheme.
    Govt’s budget for health, education and social security increased to Rs 1.38 lakh crore for 2018-19 from Rs 1.22 lakh crore in current fiscal.
    Govt identifies 115 “aspirational districts” to make them model districts of development.
    PM Jeevn Jyoti Bima Yojana to reach all poor households: Arun Jaitley
    24 new govt medical colleges and hospitals to be set up by upgrading existing district hospitals
    Health insurance scheme to cover 500 million beneficiaries of 100 million families. FM Jaitley announces a cover of up to Rs 5 lakh per year
    For education sector, the government proposes revitalising infrastructure, opening schools for the ST populations as well as promoting programmes for teachers, in order to improve quality education for students: Arun Jaitley.
    Air Pollution in Delhi NCR is a cause for concern, special scheme will be implemented to support Govts of Haryana, Punjab, UP and Delhi NCT to address it and subsidize machinery for management of crop residue.
    Scheme for revitalizing school infrastructure, with an allocation of 1 lakh crore rupees over four years. Called RISE – Revitalising Infrastructure in School Education.
    Finance Minister says will set up PM Research Fellow Scheme; 1000 B-Tech students to be selected.
    Finance Minister says two new planning & architecture schools to be set up in IITs.
    Finance Minister says total investment of Rs 1 lakh cr for ‘RISE’.
    The government will launch a flagship National Health Protection Scheme, which will have 50 crore beneficiaries. The Centre will give up to Rs 5 lakh per family per year. This will include secondary and tertiary healthcare.
    Govt to focus on health, education & social protection. To use technology to improve education from ‘blackboard to digital board”.
    Allocating natural resources in a more transparent manner, there is a premium on honesty now.
    Rs 14 lakh cr for enhancing rural livelihood.
    Hope to grow at 7.2 per cent-7.5 per cent in the second half of 2017-18.
    Finance Minister says propose to treat education holistically without segmentation.
    80 million poor families to be given free gas connection under Ujjwala scheme.
    Finance Minister says allocate Rs 2,600 underground water irrigation plan in 96 districts.
    500 mn beneficiaries of govt health care scheme.
    Rural infra and education get a massive push.
    Finance Minister Arun Jaitley says Rs 16,000 cr allocation for electricity connection to poor families.
    Eklavya schools to be started for Scheduled Tribe population.
    Rs 11 lakh cr for instant farm credit mooted next FY.
    Economy to grow by 7.2-7.5 per cent in second half of current fiscal, says FM.
    When our govt took over India was considered one of the fragile five economies of the world; we have reversed it; India is today fastest growing economy.
    Introduction of GST has made indirect tax system simpler.
    India is today a $2.5 trillion economy and will become fifth largest economy in the world from the present seventh largest.
    Budget will focus on strengthening agricultural and rural economy: FM Jaitley.
    PM has articulated the vision of minimum government, maximum governance: Jaitley.
    We are firmly on path to achieve 8% growth.
    Govt focusing on ease of living now.
    Cooking gas being given free to poor under PMUY, 4 cr unconnected being provided electricity connection, stent prices slashed: FM.
    Direct Benefit Transfer is a global success story.
    Emphasis on generating higher income for farmers; want to help farmers produce more and realise higher prices.

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