Union Budget 2018 Highlights pdf -Union Budget 2018-19 highlights – Union Budget 2018 live: Arun Jaitley to present Modi government’s last full budget .Finance Minister Arun Jaitley to deliver Budget speech mostly in Hindi.Union Budget 2018 Highlights pdf –Union Budget 2018-19 highlights

Union Budget 2018 Highlights pdf

  • Prime Minister Narendra Modi arrives in Parliament ahead of budget speech
  • Highlight: Finance Minister Arun Jaitley arrives in Parliament for his Budget speech
  • FM Arun Jaitley will present the Budget speech at 11 am
  • Finance Minister will go to Rashtrapati Bhavan before presenting the Budget in Parliament
  • The Finance Minister may expand the tax exemption limit from Rs 2.5 lakh per annum to Rs 3 lakh
  • Arun Jaitley may re-introduce standard deduction for salaried individuals
  • Finance Minister may announce an increase in limit of Section 80C in his budget speech
  • Finance Minister Arun Jaitley may lower corporate tax in his budget speech
  • Finance Minister Arun Jaitley to present Budget 2018-19 today

Union Budget 2018 Highlights pdf -Union Budget 2018-19 highlights

Union Budget
  • Union Budget is the most comprehensive report of the Government’s nances in which revenues from all sources and outlays for all activities are consolidated. The Budget also contains estimates of the Government’s accounts for the next scal year called Budgeted Estimates.
  • Direct and Indirect Taxes – Direct taxes are the one that fall directly on individuals and corporations. For
    example, income tax, corporate tax etc. Indirect taxes are imposed on goods and services. They are paid by
    consumers when they buy goods and services. These include excise duty, customs duty etc.
  • Fiscal Decit -When the government’s non-borrowed receipts fall short of its entire expenditure, it has to borrow money form the public to meet the shortfall. The excess of total expenditure over total non-borrowed receipts is called the scal decit.
  • Revenue Decit -The difference between revenue expenditure and revenue receipt is known as revenue decit. It shows the shortfall of government’s current receipts over current expenditure.
  • Primary Decit -The primary deficit is the fiscal decit minus interest payments. It tells how much of the Government’s borrowings are going towards meeting expenses other than interest payments.
  • Fiscal policy – It is the government actions with respect to aggregate levels of revenue and spending. Fiscal policy is implemented though the budget and is the primary means by which the government can inuence the economy.
  • Capital Budget – The Capital Budget consists of capital receipts and payments. It includes investments in shares, loans and advances granted by the central Government to State Governments, Government companies, corporations and other parties
  • Revenue Budget – The revenue budget consists of revenue receipts of the Government and it expenditure.
  • Revenue receipts are divided into tax and non-tax revenue.
  • Tax revenues constitute taxes like income tax, corporate tax, excise, customs, service and other duties that the Government levies.
  • The non-tax revenue sources include interest on loans, dividend on investments.
  • Budget Estimates – Amount of money allocated in the Budget to any ministry or scheme for the coming Financial year
  • Guillotine – Parliament, unfortunately, has very limited time for scrutinising the expenditure demands of all the Ministries.
  • So, once the prescribed period for the discussion on Demands for Grants is over, the Speaker of Lok Sabha puts all the outstanding Demands for Grants, Whether discussed or not, to the
    vote of the House.
  • This process is popularly known as ‘Guillotine’.

Union Budget 2018 Highlights pdf -Union Budget 2018-19 highlights

union budget 2018-19 speech pdf -Union Budget 2018 Highlights pdf

  • After Completion of Budget 2018-2019 by Arun jaitley we will Provide full speech in pdf form . Download link will Be here – Budget 2018 Speech pdf 

Here are the highlights of Arun Jaitley’s speech Budget 2018-2019 -Union Budget 2018 Highlights pdf

Here are the highlights of Arun Jaitley’s speech

Here are the highlights of Arun Jaitley’s speech

  1. One medical college per every three Parliamentary constituencies.
  2. National health protection scheme for 10 crore poor families with 50 crore beneficiaries by providing Rs 5 lakh per family per year for secondary and tertiary care hospitalisation. This is the world’s largest health programme.
  3. Rs 1,200 crore for the flagship programme in health wellness centres.
  4. Eighteen new schools of planning and architecture will be set up… I propose railway university in Vadodara.
  5.  By 2022, every block with more than 50% ST population and at least 20,000 tribal people will have ‘Ekalavya’ school at par with Navodaya Vidayalay: FM Jaitley.
  6.  Government to launch ‘Revitalising Infrastructure and Systems in Education by 2022: FM Jaitley
  7. Integrated B.Ed programme to be initiated for teachers, to improve quality of teachers.
  8. Technology will be the biggest driver in improving education.
  9. We aim that by 2022, all poor people have a house to live in.
  10. Government plans to construct 2 crore more toilets under Swachh Bharat Mission: Arun Jaitley
  11. Government proposes to increase the target of providing free LPG connections to 8 crore to poor women: FM Jaitley
  12. Air Pollution in Delhi-NCR is a cause for concern, special scheme will be implemented to support governments of Haryana, Punjab,Uttar Pradesh and Delhi-NCT to address it and subsidise machinery for management of crop residue: FM Jaitley
  13.  Agri-Market Development Fund with a corpus of Rs 2000 crore to be set up for developing agricultural markets.
  14. Grameen Agricultural Market (GRAM) will provide farmers a means to sell directly to buyers.
  15. The focus is on low-cost farming, higher MSP. Emphasis is on generating farm and non-farm employment for farmers.
  16. I am very happy to announce that minimum support price has been set at 1.5 times the production cost for kharif crops: Jaitley
  17. The government will ensure payment of full MSP even if farmers sell below MSP.
  18.  The Minimum Support Price of all crops shall be increased to at least 1.5 times that of the production cost.
  19. Budget 2018 will focus on agriculture and rural economy, health, infra, senior citizens, says Jaitley.
  20. Budget 2018 will work with states to provide more resources to improve quality of education, says Jaitley.
  21. Indian economy is on course to achieve high growth of 8%. Economy to grow at 7.2-7.5% in second half of 2018-19: FM Jaitley.
  22. India grew at an average of 7.5% in the first three years since 2014. It is now a $2.5 trillion economy: Jaitley.
  23. Indian economy has performed very well since our government took over in may 2014. It is now the seventh largest in the world, says finance minister Arun Jaitley.

Union Budget 2018 Highlights pdf -Union Budget 2018-19 highlights

Union Budget 2018 Highlights pdf -Union Budget 2018-19 highlights
  • Finance Minister Shri Arun Jaitley presents general Budget 2018-19 in Parliament.
  • Budget guided by mission to strengthen agriculture, rural development, health, education, employment, MSME and infrastructure sectors
  • Government says, a series of structural reforms will propel India among the fastest growing economies of the world. Country firmly on course to achieve over 8 % growth as manufacturing, services and exports back on good growth path.
  • MSP for all unannounced kharif crops will be one and half times of their production cost like majority of rabi crops: Institutional Farm Credit raised to 11 lakh crore in 2018-19 from 8.5 lakh crore in 2014-15.
  • 22,000 rural haats to be developed and upgraded into Gramin Agricultural Markets to protect the interests of 86% small and marginal farmers.
  • “Operation Greens” launched to address price fluctuations in potato, tomato and onion for benefit of farmers and consumers.
  • Two New Funds of Rs10,000 crore announced for Fisheries and Animal Husbandry sectors;   Re-structured National Bamboo Mission gets  Rs.1290 crore.
  • Loans to Women Self Help Groups will increase to Rs.75,000 crore in 2019 from 42,500 crore last year.
  • Higher targets for Ujjwala, Saubhagya and Swachh Mission to cater to  lower and middle class in providing free LPG connections, electricity and toilets.
  • Outlay on health, education and social protection  will be 1.38 lakh crore. Tribal students to get Ekalavya Residential School in each tribal block by 2022. Welfare fund for SCs gets a boost.
  • World’s largest Health Protection Scheme covering over 10 crore poor and vulnerable families launched with a family limit upto 5 lakh rupees for secondary and tertiary treatment.
  • Fiscal Deficit pegged at 3.5 %, projected at 3.3 % for 2018-19.
  • Rs. 5.97 lakh crore allocation for infrastructure
  • Ten prominent sites to be developed as Iconic tourist destinations
  • NITI Aayog to initiate a national programme on Artificial Intelligence(AI)
  • Centres of excellence to be set up on robotics, AI, Internet of things etc
  • Disinvestment crossed target of Rs 72,500 crore to reach Rs 1,00,000 crore
  • Comprehensive Gold Policy on the anvil to develop yellow metal as an asset class
  • 100 percent deduction proposed to companies registered as Farmer Producer Companies with an annual turnover upto Rs. 100 crore on profit derived from such activities, for five years from 2018-19.
  • Deduction of 30 percent on emoluments paid to new employees Under Section 80-JJAA to be relaxed to 150 days for footwear and leather industry, to create more employment.
  • No adjustment in respect of transactions in immovable property where Circle Rate value does not exceed 5 percent of consideration.
  • Proposal to extend reduced rate of 25 percent currently available for companies with turnover of less than 50 crore (in Financial Year 2015-16), to companies reporting turnover up to Rs. 250 crore in Financial Year 2016-17,  to benefit micro, small and medium enterprises.
  • Standard Deduction of Rs. 40,000 in place of present exemption for transport allowance and reimbursement of miscellaneous medical expenses. 2.5 crore salaried employees and pensioners to benefit.
  • Relief to Senior Citizens  proposed:-
  • Exemption of interest income on deposits with banks and post offices to be increased from Rs. 10,000 to Rs. 50,000.
  • TDS  not required to be deducted under section 194A. Benefit also available for interest from all fixed deposit schemes and recurring deposit schemes.
  • Hike in deduction limit for health insurance premium and/ or medical expenditure from Rs. 30,000 to Rs. 50,000 under section 80D.
  • Increase in deduction limit for medical expenditure for certain critical illness from Rs. 60,000 (in case of senior citizens) and from Rs. 80,000 (in case of very senior citizens) to Rs. 1 lakh for all senior citizens, under section 80DDB.
  • Proposed to extend Pradhan Mantri Vaya Vandana Yojana up to March, 2020. Current investment limit  proposed to be increased to Rs. 15 lakh from the existing limit of Rs. 7.5 lakh per senior citizen.
  • More concessions for International Financial Services Centre (IFSC),  to promote trade in stock exchanges located in IFSC.
  • To control cash economy, payments exceeding Rs. 10,000  in  cash made by trusts and institutions to be disallowed and would be subject to tax.
  •  Tax on Long Term Capital Gains exceeding Rs. 1 lakh at the rate of 10 percent, without allowing any indexation benefit. However, all gains up to 31st January, 2018 will be grandfathered.
  • Proposal to introduce tax on distributed income by equity oriented mutual funds at the rate of 10 percent.
  • Proposal to increase cess on personal income tax and corporation tax to 4 percent from  present 3 percent.
  • Proposed changes in customs duty to promote creation of more jobs in the country  and also to incentivise domestic value addition and Make in India in sectors such as food processing, electronics, auto components, footwear and furniture.
  •  Proposal to roll out E-assessment across the country to almost eliminate person to person contact leading to greater efficiency and transparency in direct tax collection.

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