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The government will provide eight crore free gas connections to women under its Ujjwala scheme, and 4 crore electricity connections to the poor under Saubhagya Yojana
The govt will aid the governments of Delhi, Haryana, Punjab to curb air pollution, says Jaitley.
Rs 14.34 lakh crore rupees to be spent for rural infrastructure
Health Education social Sector
Ayushman Bharat scheme
Rashtriya Sawstha Bima yojna limit from 30000 to National Health protection scheme for poor and venerable beneficiaries upto 5 lacks rupee per family per year
Education sector: Under RTE, lakhs of untrained teachers will be trained to help improve quality of education
One government medical college to be ensured for every 3 parliamentary constituencies by upgrading 24 district-level colleges
3794 Cr. Allocation for MSME
Rs.7K crore for Textile sector
Target of Rs 3 lakh crore for lending under PM MUDRA Yojana
National Heritage City Development Augmentation Scheme has been undertaken to preserve and protect heritage cities in the country, announces the Finance Minister
Rs 1.48 lakh crore to be allocated for railways in next fiscal year
Government to contribute 12 per cent of EPF contribution for new employees in all sectors
EPF women contribution reduced to 8% from 12%
capital expenditure of Rs 1,48,528 crore for Indian Railways in 2018-19.
R&D and AI development program, 3 thousand crore for Digital India Program
Legal major to ban use of Crypto currency
Airport capacity to be hiked to handle 1 billion trips every year
Modernization of Defense through FDI, and defence production policy
Unique ID to all Business entity like AADHAR
Disinvestment target of 80 thousand crore for 18-19
Fiscal 17-18- Total expenses 21.57 lacs crore target 21.47 lacs Cr.
5.95 Lacs crore Target Fiscal deficit for 17-18
Emoluments of President, Vice-President and governors will be revised to Rs 5 lakh, Rs 4 lakh and Rs 3.5 lakh respectively
Presumptive Income scheme-for T/O less than 2crore, 41% more return filled under the scheme from previous period.Average tax payment made is 7000/-
100% tax deduction for Co-op soc. Which are involved in primarily Agriculture sector-Benefit of the same shall be extended to farmer companies for Next 5year from 18-19
Capital Gain-No adjustment for circle rate if value difference is in 5% of value reported, this will boos real estate sector.
Corporate Tax restructuring –Earlier upto 50 cr. T/O company brought in 25% Tax rate now the T/O limit is increased to Rs.250 crore from FY18-19 this will have huge impact of Small and medium sector companies. Revenue forgone estimate Rs.7000 crore for FY18-19.
Salaried Employee Tax
1.89 crore salaried filler of IT return with significant tax contribution, hence standard deduction of Rs.40,000/- for Transport medical and miscellaneous reiumbursement for salaried employee.
Senior Citizen Taxation
Exemption- Interest income on FD,RD earned by senior citizen will exempt from TDS from Rs.10,000 to Rs.50,000
Medical Incurance /Genral Medical expenses u/s 80 D exemption increased from Rs.30,000/- to Rs.50,000/-
Critical illness exemption u/s 80DDB increased to Rs.1,00,000/- for all senior citizens
pradhan mantri vaya vandana yojana for senior citizen which assure 8% of interest rate for deposit upto Rs.7.5 Lacs increased to Rs.15Lacs.
Long term capital gain on transfer of listed equity in excess of Rs.100000 to be taxed at 10% without indexation benefit.
Health and Education cess of 3% to be replaced with 4% combined health and education cess
E-Assessment-Assessment to done electronically across India without face to face interaction with Tax officer
No more education cess on imported goods. Will be replaced by social welfare surcharge of 10%