Comparison between budget 2017-18 and 2018-19 in india
Answers
The comparision of Union budget by Finance Ministry of inda for the year 2017 and 2018 can be done as-----
1.Taxation
2017-18: In a bid to boost to the MSMEs, Arun Jaitley who is finance minister proposed to reduce the tax rate of MSMEs reporting turnover of less than 50 crore rupees to 25 per cent from the earlier 30 per cent. Jaitley has also made an assertion that this benefit covers 96% of the total companies in India that are filing their respective tax returns.
2018-19: Arun Jaitley announced to extend the benefit of the reduced rate of 25 per cent also to all those companies who have reported turnover up to Rs 250 crore in the financial year 2016-17.
2. MUDRA Yojana
2017-18: The government of india announcement to double the lending target to Rs 2.44 lakh crore under the Pradhan Mantri Mudra Yojana (PMMY) for 2017 aiming to benefit the small entrepreneurs in the country.
2018-19: Finance minister of India Jaitley in Union Budget 2018 proposed allocating Rs 3 lakh crore for Micro-Units Development & Refinance Agency Ltd (MUDRA). This figure stands as a 20 per cent rise from the last year budget. The Budget 2017 had allocated Rs 2.44 lakh crore for Mudra scheme.
3. Defence Sector
2017-18: The defence sector received an allocation of Rs. 2.74,114 crore in the Union Budget 2017-18 of government of india
2018-19: Rs 2, 95,511.41 crore has been sanctioned for Defence sector. This accounts for 12.10 percent of the total Central Government of india expenditure for the year 2018-19.