Budget 2018-19: A Quick Review

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niveza
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Joined: Wed Feb 22, 2017 3:48 pm

Budget 2018-19: A Quick Review

Post by niveza » Thu Feb 01, 2018 4:30 pm

* 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: http://bit.ly/2DTxGfo

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