Union Budget 2018-19
New Delhi: The Finance Minister Arun Jaitley in the Parliament today presented the Union Budget 2018-19. The citizens of Nation on the starting of the second month of the year 2018 got this news amid subdued economic growth, challenging fiscal situation and farm distress. In the two-hour budget speech agriculture, education, healthcare benefits and improving infrastructure were the focused areas.
Read out the highlights mentioned below from Budget 2018-19:
Imported electronics, including phones and TVs, will now get more expensive as the government proposes to increase customs duty on mobiles from 15% to 20% and on some other mobile parts to 15%, and some parts of TVs to 15%.
There is no change in Personal Income Tax. Senior citizens are benefitted as Rs 50,000 are added for investment in mediclaim.100% tax exemption for the first five years to companies registered as farmer producer companies with a turnover of Rs. 100 crore and above.
Revised fiscal deficit estimate for 2017-18 is 3.5% of GDP, the fiscal deficit of 3.3% expected for 2018-19.
Rs 10,000 crore for creation and augmentation of telecom infrastructure in 2018-19.
Rs 1,48,528 crore for the Indian Railways for 2018-19. 12,000 wagons, 5160 coaches and 700 locomotives being procured. There are significant achievements of physical targets by Railways said Arun Jaitley.
Agri-Market Development Fund with Rs 2000 crore to be set up for developing agricultural markets. I am very happy to announce that minimum support price has been set at 1.5 times the production cost for Kharif crop said FM Jaitley.
About 10 crore poor and vulnerable families will be targeted under healthcare protection scheme. Rs 1,200 crore for the flagship programme.
Contribution of 8.33% to EPF for new employees by the government for three years and 12% government contribution to EPF in sectors employing a large number of people said Arun Jaitley. 76% of MUDRA loans for women.
1,000 best BTech students to be made PM research fellows — to do PhDs in IITs and IISc. Eighteen new schools of planning and architecture will be set up. Integrated B.Ed programme to be initiated for teachers.
“Announcements regarding education, health and agriculture have been made. A national health protection scheme to benefit 10 crore poor families has been announced; it is a huge initiative. I would like to congratulate the government,” says Bihar chief minister Nitish Kumar.