Question

Please help me give the conclusion on budget of india

Answer 1

Highlights of Union Budget 2018

* Current Indian economy is of 2.5 trillion USD
* GDP for year 2018-19 to be seen At 7.4%
* Growth to be seen from 8% to 15%
* Fiscal Deficit 3.5% of GDP (17-18 ) and taget 3.3% (18-19)
* MSEM's turnover up to Rs.250crs tax slab will be 25%
* No changes in Personal Income Tax structure
* Rs.40000 Standard deduction to salaried taxpayer
* Sr. Citizen income from interest non TDS limit increase from Rs.10000 to Rs.50000
* 80D limits for Sr.citizen increases from Rs.30000 to Rs.50000 (mediclaim)
* Disinvrstments targets are Rs.80000 crs for FY 18-19
* LTCG on equity 10% applicable on above 1 lac investments
* 10000 Crs allocation for Fishiers , Aquaculture
* Exports to grow at 15%
* Double Farmers income by 2022
* MSP for kharif crops to be 1.5× cost of production
* Help for Affordable homes 51 lac in Rural and 37 lac in Urban areas
* 8cr poor women will be given free GAS connections
* National health protection scheme for 10cr poor families (Rs.5 lac free health care)
* Allocation of Rs.1000 crs for RISE
* Rs.3794 crs allocation for credit support to MSME's
* Target Mundra loan of 3 lac crs next FY
* Setting 24 new govt medical colleges
* Allocation of Rs.7148 cr to textile sector
* 1400 crs allocation for food processing sector
* Highway construction target of 9000 kms by year end
* 1.48 lac crs allocation to Railways
* More then 25000 foot falls will have elevators
* Allocation of 17000 crs to Bengluru for Metro Network
* Allocation of 11000crs to Mumbai Railway
* Outlay 2.04 lakh crs for smart cities
* SEBI to mandating large corporates for 25% Debt from market
* Do not consider cryptocurriences as legal tender
* Allocation to Digital India Rs.373 cr
* Proposes extra expenditure on Infra of Rs.5.97 lakh cr
41% more returns were filed this year, which shows that more people have joined the tax net.
• Demonetisation was received by honest taxpayers as ‘Imaandaari ka utsav’.
• Revised fiscal deficit estimate for 2017-18 is 3.5% of GDP, fiscal deficit of 3.3% expected for 2018-19.
• Automatic revision of MPs’ emoluments every five years, indexed to inflation.
• Emoluments of President, Vice President and Governor being revised: Rs 5 lakh; 4 lakh; Rs 3.5 lakh per monthrespectively.
• Exceeded the disinvestment target and collected Rs 1 lakh crore: FM.
• The government insurance companies to be merged into a single entity,
and subsequently listed in the stock exchange, as part of the disinvestment programme.
• The government will assign every enterprise in India a unique ID on the lines of Aadhaar.

*This Union Budget seen as Rural and Infra*

Sources - Times of India, Rakesh Barnwal