Highlights
of the Union Budget 2018-19
Ø Govt levies 10% capital gains tax for Rs 1 lakh gains
Ø Short-term capital gains tax continues to be 15%
Ø Capital gains made on shares until Jan 31, 2018 grandfathered
Ø Customs duties hiked on mobiles to 20 prevent from 15 per
cent; on TVs to 15 prevent to boost domestic manufacturing.
Ø 6 crore toilets have been
built so far under the Swachh Bharat campaign.
Ø The target for the next
financial year is to build another 2 crore toilets.
Ø No change in personal income tax structure
Ø Standard deduction of Rs 40,000 for salaried taxpayers
Ø Status quo for salaried
class
Ø 25% Corp tax rate extended to companies with turnover up to Rs
250 cr
Ø Rs 90,000 cr extra
collected as personal Income Tax in last 1 year. Will continue with tax
policies that reward honest tax payers.
Ø To allow 100% tax deduction to companies registered as
farmer-producer companies with a turnover of Rs 100 crore.
Ø India produced over 275
million tonnes of food grain and 300 million tonnes of fruits and vegetables in
2016-17.
Ø Crop production at record
high; govt is committed to giving 50% more than cost of crop production to
farmers.
Ø Govt to set MSP at
one-and-half times the cost of production for Kharif crops.
Ø Govt will ensure farmers
get MSP if prices fall; Niti Aayog will discuss with state govts for mechanism
to ensure farmers get better prices.
Ø Rs 2,000 crore fund to be set
up for upgrading rural agri markets.
Ø Govt has promoted organic
farmers in a big way; women self-help groups to be encouraged to take up
organic farming.
Ø Food processing sector
growing at 8 pc; allocation for food processing ministry being doubled to Rs
1400 cr.
Ø India's agri export
potential is $100 bn as against current $30 bn exports.
Ø Mass formalization of MSME
sector is happening after demonetisation and GST.
Ø Target for loan
disbursement under Mudra scheme set at Rs 3 lakh crore for next fiscal.
Ø Govt to soon announce
scheme to address the issue of Non-Performing Assets.
Ø Rs 4.6 lakh cr sanctioned
under MUDRA Scheme.
Ø 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.
Ø Govt identifies 115
"aspirational districts" to make them model districts of development.
Ø PM Jeevn Jyoti Bima Yojana
to reach all poor households.
Ø 24 new govt medical
colleges and hospitals to be set up by upgrading existing district hospitals
Ø Health insurance scheme to cover 500 million beneficiaries of
100 million families. Announces a cover of up to Rs 5 lakh per year
Ø 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.
Ø 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.
Ø Scheme for revitalizing
school infrastructure, with an allocation of 1 lakh crore rupees over four
years. Called RISE - Revitalising Infrastructure in School Education.
Ø It will set up PM Research
Fellow Scheme; 1000 B-Tech students to be selected.
Ø Two new planning &
architecture schools to be set up in IITs.
Ø Total investment of Rs 1
lakh cr for 'RISE'.
Ø 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.
Ø Govt to focus on health,
education & social protection. To use technology to improve education from
'blackboard to digital board".
Ø Allocating natural
resources in a more transparent manner, there is a premium on honesty now.
Ø Rs 14 lakh cr for
enhancing rural livelihood.
Ø Hope to grow at 7.2 per
cent-7.5 per cent in the second half of 2017-18.
Ø Proposed to treat
education holistically without segmentation.
Ø 80 million poor families to be given free gas connection under
Ujjwala scheme.
Ø Finance Minister says
allocate Rs 2,600 underground water irrigation plan in 96 districts.
Ø 500 mn beneficiaries of
govt health care scheme.
Ø Rural infra and education
get a massive push.
Ø Rs 16,000 cr allocation for electricity connection to poor
families.
Ø Eklavya schools to be
started for Scheduled Tribe population.
Ø Rs 11 lakh cr for instant
farm credit mooted next FY.
Ø Economy to grow by 7.2-7.5 per cent in second half of current
fiscal.
Ø Introduction of GST has made indirect tax system simpler.
