- Budget 2018-19: A Quick Review
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Budget 2018-19: A Quick Review
- Focus on Agriculture and Rural Economy, Health, Infra, Senior Citizens.
- State of art facility to be set up in 42 food parks for agri exports.
- Setting up an agri market fund with a corpus of Rs.2,200 crore.
- From Rs.10 lakh to 11 lakh crore credit for agricultural activities.
- 47 projects under the 'Namami Gange' programme have been completed.
- The Government will contribute 12% of the EPF of new employees for all sectors in next three years.
- Airport capacity to be raised 5x to handle 1 billion trips.
- Allocation to food processing doubled to Rs.1,400 crore from Rs.715 crore.
- Target constructing 2 crore toilets in FY19.
- 8 crore free gas connections to women under UJJWALA and 4 crore electricity connections to the poor under Saubhagya Yojana.
- Education: Total Investment of Rs.1 lakh crore for RISE.
- Allocate Rs.1,200 crore for specialised health wellness centres.
- Rs.5 lakh/year per family for 10 crore families will be allocated.
- Allocation of Rs.600 crore for nutritional support to all tuberculosis patients.
- MSMEs sector gets Rs.3,794 crore in the form of capital support and interest subsidy.
- Will soon be announcing measures to help deal with NPAs on SMEs, reiterating that MSMEs are extremely important for economy.
- The government will contribute 12% of the EPF of new employees for all sectors in next three years.
- Women contribution on EPF to be reduced to 8% for 1st 3 years.
- Out of 100 smart cities 99 cities have been selected with an outlay Rs.2,04 lakh crore.
- Tourist facilities to be upgraded at 210 important monuments.
- Allocation to 'Digital India' doubled to Rs.373 crore.
- Propose extra-budgetary expenditure of Rs.5,97 lakh crore on infrastructure.
- PSU bank recapitalisation will allow banks Rs.5 lakh crore of additional lending in FY19.
- Divestment of target Rs.80,000 crore for FY19.
- Set up comprehensive gold policy; to revamp Gold Monetisation Scheme.
- FY19 fiscal deficit target at 3.3% of GDP.
- Aim to lower central govt debt to GDP ratio to 40%.
- 99% MSMES to be taxed at 25%.
- 100% tax deduction for companies with revenue of Rs.100 crore as farmer producers.
- Standard deduction of Rs.40,000 for salaried taxpayers and no change in personal IT structure.
- 10% long-term tax on equity gains above Rs.1 lakh.
- 2 defence industrial production corridors to be set up.
- Footwear and Leather industry to get benefits extended to apparel industry.
- Corporate tax for companies up to Rs.250 crore revenue cut to 25%.
Source : Niveza India Pvt Ltd.
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