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HIGHLIGHTS OF BUDGET 2018


  1. Agricultural sector is the priority of the government, as stated by the Finance Minister.
  2. The government will ensure farmer’s growth.
  3. One of the aims is to double farmer’s income, will double farm income by 2020.
  4. 2000 Cr Infra Fund for Farm Sector.
  5. Focus on agricultural and rural economy.
  6. Food processing allocation doubled.
  7. Food processing sector growing at 8%.
  8. 500 Cr for operation green to boost Agri.
  9. Propose reconstructed bamboo mission, 1290 Cr to promote bamboo sector.
  10. Irrigation fund set up in NABARD.
  11. 10000 Cr for fisheries, animal husbandry.
  12. Will set up long term irrigation fund.
  13. Export of agri commodities to be liberalized.
  14. 8 Cr Gas connections for poor women.
  15. FM cites “Ujjwala Yojana”.
  16. 4 Cr households being electrified.
  17. Government has constructed 6 Cr toilets.
  18. Housing for all by 2022.
  19. Loans to women self groups.
  20. Social security for old women.
  21. Govt committed to education.
  22. Thrust on education in tribal areas
  23. 1,00,000 Cr for education research.
  24. 18 new schools for architecture.
  25. 5 lac heath centers to be set up.
  26. 1200 Cr boost for health sector.
  27. Flagship health protection scheme.
  28. 50 Cr families to get benefitted.
  29. Rs 5 lakh cover per family per year, in health sector.
  30. Tuberculosis patients- special nutritional benefits, 600 Cr for Tuberculosis patients.
  31. 24 new medical colleges.
  32. National health protection scheme launched.
  33. Atleast one medical college for every 3 constituencies.
  34. India closer to universal health care.
  35. Save Ganga- 187 projects santioned.
  36. Save Ganga- 47 projects completed.
  37. 16713 Cr allocated for rural sanitation.
  38. Government to bring 60 Cr bank accounts under Jan Dhan.
  39. MSME- A major element for growth.
  40. 3794 Cr allocated for MSME sector.
  41. 56000 Cr- SC/ST Schemes.
  42. Venture capital funds and angel investors- to strengthen the environment.
  43. Creation of job opportunities.
  44. Paid maternity leave from 12 to 26 weeks.
  45. 70 lakh formal jobs created this year.
  46. Incentives for employing women.
  47. FM cites 8.33% EPF contribution.
  48. 7140 Cr- Allotment for textile sector in 2018-19.
  49. Big boost for textile sector.
  50. 50L Cr need for infrastructure sector.
  51. 04L Cr for smart cities.
  52. Big thrust on infra projects.
  53. 48L Cr for rail projects.
  54. Redevelopment of 600 railway stations.
  55. All railways will have wifi, cctv and other amenities.
  56. 3600 km under track renewal.
  57. There will be escalators in railway stations, footfalls greater than 25 k.
  58. Airport authority of India has 124 airports.
  59. 40000 Cr for expansion of Mumbai transport.
  60. Airlines have ordered 900 aircrafts.
  61. 3073 Cr for Digital India.
  62. Global economy becoming digital.
  63. 10K Cr for Digital Infrastructure.
  64. Government sets 5G roadmap.
  65. Bitcoins to be undet I-T Scanner.
  66. Government focuses on defense modernization.
  67. Private investment opened in defence.
  68. 2 defence industrial production corridoors.
  69. 2017-18 disinvestment target increased.
  70. Disivestment target- 80k Cr for 2018-19.
  71. Consumer friendly gold exchange.
  72. Salaries up for presidents and VP.
  73. Law to regulate salaries for MPs.
  74. Law to revise salaries every 5 years.
  75. Fiscal deficit of 3.3% of GDP for 2018-19.
  76. 81 Lakh new returns filed.
  77. 100 % tax deduction to farm producer related firms.
  78. Reduced corporate tax to 25% to companies who have a reported turnover of upto 250 Cr (Benefit to MSMEs)
  79. Relief to senior citizens.
  80. Exemption of interest income for deposits to bank and post office for senior citizens to be increased.
  81. Partial relief for salaried class.
  82. Standard deduction raised to 40,000.
  83. 50000 exemption for health insurance of senior citizens.
  84. Long term capital tax exceeding 1 lakh to be 10%.
  85. Gain from equity to be taxed 15 %.
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