Budget 2018 – Live Updates – Highlights

Jaitley talks talks about Note ban benefits – He says that Indian economy is rebounding.

Arun Jaitley says With demonetisation, the quantum of cash currency in circulation and increased tax base and has also help improve the digitalization of our country. He also said that Foreign direct investment has gone up, while the GDP at 6.3% is a signal of a turnaround of the economy. He also added that exports are expected to grow at 15% in 2018-19.

Announcement under Ujjwala scheme – Jaitley

Jaitley said that an amount of 16,000 crore will be spent on providing electricity connection to nearly four crore poor households.

Operation Green

Government proposes Operation Green to launch with a sum of Rs 500 crore

Pushing Horticulture

Jaitley says that Cultivation of horticulture produces in a cluster-based manner create avenues for more produce.

Fund from Agriculture Market is coming

Setting up Agriculture Market Fund with a corpus of Rs 2,000 crore, says Jaitley.

Impetus on agriculture

“Our government has worked sincerely for various reforms without keeping the political angle in mind. My government is committed to the welfare of the fares. Agriculture is an enterprise and encouraging farmers to earn more,” Jaitley says.

NITI Aayog develop a system of optimal farm price realisation – Arun Jaitley says

NITI Aayog to develop system of optimal farm price realisation and develop existing 22,000 GRAM centres. GRAMs to help farmers for direct sales

Free LPG connections

8 crore women will get Free LPG connections

Swacch Bharat scheme

Govt will construct 2 crore more toilets under Swacch Bharat scheme

Healthcare Sector

Modi government’s will creates the largest programme in the world with World’s largest government-funded programme. “We have allocated Rs 1,200 crore allocated for health wellness centres. Rs 5 lakh per family per year for 10 crore poor families. The world’s largest government-funded programme,” says Jaitley.

New Govt Medical Colleges coming

Jaitley announces – “24 new government medical colleges and hospitals to be set up by upgrading existing district hospitals,”.

New architecture schools coming

Our govt will be setting up two new full-fledged Schools of Planning and Architecture, Finance Minister Arun Jaitley.

Mudra accounts

Rs 3 lakh crore are set aside for Mudra accounts.

Namami Gange’ Programme

Jaitley says 187 projects sanctioned under the ‘Namami Gange’ programme, 47 projects have been completed.

Tunnel for Se-La pass in Arunachal Pradesh

“Have proposed the construction of a tunnel under the Se-La pass in Arunachal Pradesh. Proposal to develop 10 prominent tourist destinations as Iconic tourism destinations,” says Jaitley.

MPs salary to be refixed

“The government is proposing changes in refixing salaries of MPs. Law will provide automatic revision of emoluments of the MPs every five years indexed to inflation,” says Jaitley.

Tax rebate for farm firms

Propose 100% tax rebate for farmer producer companies having a turnover of Rs. 100 crore, says Jaitley.

Exemptions for senior citizens

For senior citizens, exemption of interest income on bank deposits raised to Rs 50,000, says Jaitley.

Tax Rates

Corporate tax for 2018-19 has been cut to 25% for companies with revenue up to Rs 250 crore. Tax rate unchanged for individuals.

Custom taxes increased on mobiles

I propose to increase custom duty on mobile phones to 20 percent from 15 percent. Some other parts and accessories to have also been increased to 15 percent. This will create more jobs in the country. Jiatley also added that educational cess and secondary higher education cess is abolished.

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