Budget 2018: Live updates
Posted on: 01/Feb/2018 11:24:08 AM
- Union Budget 2018 keeps tax slabs unchanged, but allows certain deductions : FM
- Corporate Tax rate cut to 25% for companies with turnover of Rs 250 crore: FM
- Central Board of Excise and Customs to be renamed Central Board of Indirect Taxes, says FM
- Customs duty on mobile phones increased from 15% to 20%, says FM
- Propose to tax LTCG exceeding Rs 1 lakh at the rate of 10% without benefit of indexation. All gains purchases up to 31 January 2018 won`t be taxed if below 20% - FM
- National Health Insurance scheme for 10 crore `vulnerable` families, says Jaitley
- No change in personal income tax rates for salaried class, says FM
- New 8% guaranteed return scheme from LIC for senior citizens, says FM
- Deduction for health insurance and critical illness expenses increased for all senior citizens, says FM
- Incentives for senior citizens: Exemption on interest income to be increased from Rs 10000 to Rs 50,000. Applies to all fixed deposit scheme, says FM
- Standard deduction of Rs 40,000 introduced in lieu of transport and medical reimbursements for salaried employees, says FM
- Government has made many positive changes in the personal income tax rates applicable to individuals in the last three years, therefore, I do not wish to make any changes to this: FM
- Tax buoyancy more than expected, thanks to greater compliance, says Finance Minister
- Effective taxpayers increased to 8.27 crore by end of 2016-17: Finance Minister
- Revised fiscal deficit estimate for 2017-18 is 3.5% of GDP, fiscal deficit of 3.3% expected for 2018-19: FM
- Automatic revision of MPs` emoluments every five years, indexed to inflation, says Finance Minister
- Gold monetisation scheme to be revamped to enable people to operate gold accounts, says FM
- Recapitalisation to enable PSU banks to lend Rs. 5 lakh crore more, says FM
- Government allocates Rs 14.34 lakh crore for creating livelihood in rural areas, say FM
- Government will bring out an industry-friendly defence production policy in 2018, say FM
- Government has identified 372 specific business reform actions to improve ease of doing business; Evaluation of performance under this programme to be based on user feedback: Finance Minister
- Government insurance companies to be merged into a single entity, and subsequently listed in the stock exchange, as part of the disinvestment programme: FM
- National Logistics Portal as a single online window to link all stakeholders, to be developed by Dept. of Commerce, says FM
- Individual enterprises too to have unique ID, says Finance Minister
- 1 lakh `gram panchayats` connected to optic fibre completed; 5 lakh Wi-Fi spots to be created in rural areas: Finance Minister
- Government will take all measures to curb use of cryptocurrencies like bitcoin, says Finance Minister
- Toll payment to become a pay-as-you-use model: Finance Minister
- NITI Aayog will establish a National Programme to direct our efforts in the area of Artificial Intelligence towards national development: FM
- Government to set up specialised railway university in Vadodara, says FM
- All stations with more than 25,000 footfall will have escalators. Airport capacities will be upgraded to 1 billion trips, says FM
- AMRUT program to focus on the water supply to all households in 500 cities. Water supply contracts for 494 projects worth 19,428 core awarded: Finance Minister
- All trains to be progressively provided with WiFI, CCTV and other state-of-the-art amenities: FM
- FM announces Rs. 1,48,528 crore - the capital expenditure for Indian Railways for 2018-19
- 99 cities selected under smart city mission, to be allocated 2.04 lakh crore, says FM
- We are confident of completing national highways exceeding 9,000 km in 2018-19, says FM
- Proposal to develop 10 prominent tourist destinations as Iconic tourism destinations: FM
- Cleaning of Ganga is of national importance, have sanctioned 187 projects under NAMAMI Ganga scheme: Finance Minister
- Women`s EPF contribution reduced to 8% for first 3 years of employment. no changes in employer contribution, says FM
- 12% of wages to be contributed from govt side towards EPF, says FM
- Target of 3 lakh crore for lending under PM MUDRA Yojana: FM
- Mass formalization of MSME sector is happening after demonetization and GST: FM
- Government proposes to allot Rs 3794 crore for MSME sector: Finance Minister
- Technology will be the biggest driver in improving the quality of education. We propose to increase the digital intensity in education and move gradually from blackboard to digital board: FM
- Rs 16,000 crore will be spent on providing electricity connection to nearly four crore poor households, says FM
- One government medical college to be ensured for every 3 parliamentary constituencies by upgrading 24 district-level colleges: FM
- The Government is slowly but steadily progressing towards universal health coverage: FM
- Have decided to take healthcare protection to a new aspirational level. Launching a flagship National Health Protection Scheme to cover 10 crore poor and vulnerable families, benefiting approx. 50 crore, says FM
- 14.34 lakh crore rupees to be spent for rural infrastructure: FM
- We aim to build 2 crore toilets over the next two years under Swachch Bharat Mission, says FM
- Integrated B.Ed programme to be initiated for teachers, to improve quality of teachers: FM
- Scheme for revitalizing school infrastructure, with an allocation of 1 lakh crore rupees over four years. Called RISE - Revitalizing Infrastructure in School Education: Finance Minister
- By 2022, every block with more than 50% ST population will have an Eklavya Model Residential School: Finance Minister
- Rs 2,000 crore fund to be set up for upgrading rural agricultural markets in Budget 2018
- Ground water irrigation scheme will be taken up in 96 irrigation deprived districts. Allocated Rs 2600 crore for this: arunjaitley
- Proposed to raise institutional credit for agriculture to Rs 11 Lakh Crore for 2018-19: Finance Minister
- I propose to launch a restructured National Bamboo Mission with an outlay of Rs 1290 crores to promote the bamboo sector: Finance Minister
- Our govt promises to launch `Operation Green` for the food industry. I allocated a sum of Rs 500 crores for this initiative: Finance Minister
- Govt will develop existing 22,000 Gramin Agri Centres to help farmers for direct sales. Will work with NITIAayog to develop a system of optimal farm price realisation: FM
- Minimum support price has been set at 1.5 times the production cost for kharif crops
