- This is the first budget in India said to be presented in Hindi
- This is the fifth budget presented by the NDA government
- Finance Minister Arun Jaitley met President Ram Nath Kovind at Rashtrapati Bhavan
- Lok Sabha mourns death of BJP MP from Palghar, Chintaman Vanga
- Post the Cabinet meeting, the Budget session will begin, shortly
Budget 2018 live updates in Pictures: Arun Jaitley meets President Kovind
- Lok Sabha Speaker Sumitra Mahajan addresses the Parliament
- FM Arun Jaitley beings his address on Budget 2018
- Arun Jaitley starts the budget speech in English and then switches to Hindi
- Revised fiscal deficit target of 3.5% of GDP at Rs 5.95 lakh crore for the current fiscal and 3.3 percent for FY19
SPEECH
- India to be the fifth largest economy soon, currently India is a $ 2.5 Trillion economy
- India will grow from 7.2% to 7.5% soon, says the Finance Minister
- Taxation base increased
- Govt to substantially increase allocation under national livelihood mission to Rs 5,750 cr in next fiscal
COSTLY
- Mobile phones to be costly; Custom duty on mobile phones increased to 20% from 15%
- Price increased on TVs
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CHEAPER
- Cashew nuts; Customs duty on raw cashew cut form 5 pc to 2.5 pc
- Footwear
- Healthcare for poor
- Leather products
AGRICULTURE
- Focus on improving Agriculture facilities, conditions
- Direct Benefit Transfer is the biggest in the world
- 2000 crore infrastructure fund for farm, agriculture
- 470 APMCs linked to ENAM
- Rs 1,400 crore allocation for food processing
- Fisheries, animal husbandry sectors also to get Kisan Credit Cards
- Rs 11,000 crore allocation for fisheries and aqua culture
- Rs 1,290 crore allotted for bamboo sector
- Krishi Yojana allocation doubled
- Export of agriculture commodities will be liberalised
EDUCATION
- 18 new schools for architecture
- Under RTE, lakhs of untrained teachers to be trained to help improve quality of education
- 24 new medical colleges, at least 1 mediacl college for three constituencies
- Scheme for revitalising school infrastructure, with an allocation of Rs 1 lakh crore over four years. RISE - Revitalizing Infrastructure in School Education
- PM research fellows: Govt will identify 1000 Btech students each year and provide them means to pursue PHDs in IITs and IISc
- Rs 1.35 crore allocation for health, education and social welfare in 2018-19
- By 2022, every block with more than 50 per cent ST population and at least 20,000 tribal people will have 'Ekalavya' school on par with Navodaya Vidyalas
- No more education cess on imported goods. Will be replaced by social welfare surcharge of 10%
HEALTHCARE
- Rs 1,200 crore for health and wellness centres
- Free drugs and diagnostic services for all, 10 crore families to be covered
- Rs 5 lakh per anum healthcare for 50 crore Indians
- 1.5 lakh new healthcare centres
- Rs 600 crore for TB patients
- Senior citizens allowed Rs 50,000 deduction on health insurance premium paid in a year from earlier Rs 30,000
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INDUSTRY
- Rs 3794 crore for Medium, Small and Micro industries
- Rs 3 lakh crore for MUDRA Scheme for 2018-19
- Govt to allocate Rs 7,140 crore for textiles sector
- All enterprises will be given Aadhaar like unique ID's
- Government assures 50% Minimum Support Price (MSP) to farmers, promises to double MSP by 2020
EMPLOYMENT
- Incentives for women employees
- Government contributing 8.33 % towards EPF
- Paid maternity leaves increased to 26 weeks
- EPF women contribution reduced to 8% from 12%
- Emoluments for President set at Rs 5 lakh, Rs 4 lakh for Vice President, Rs 3.5 lakh for governors
INFRASTRUCTURE-ENERGY
- 4 crore homes to get free electricity
- 51 lakh new houses to be built
- 1 crore houses under PMAY
- 9,000 km National Highways to be completed in 2018-19
- Rs 40,000 crore for expansion of Mumbai transport
- Rs 17,000 crore for Bengaluru Metro in Karnataka
- Airport capacity to be hiked to handle 1 billion trips every year
- Regional air connectivity scheme to connect 56 unserved airports
- Government will bring out an industry-friendly defence production policy in 2018
- 5 lakh WiFi hotspots to provide broadband access to 5 cr rural people
- Divestment target Rs 80,000 crore for FY 2019
- Centre plans to construct two crore more toilets under Swachh Bharat Mission
- Surplus power produced by solar-powered generators used by farmers will be bought by state distribution utilities
- Rs 14.34 lakh crore to be spent for rural infrastructure
- Housing for all by 2022, 1 crore houses to be built under Pradhan Mantri Awas Yojana in rural areas
DOMESTIC
- 8 crore families to get free LPG connection
HOUSING
- Govt to reduce hardships faced in realty deals
- No adjustment to be made in case circle rate does not exceed 5 pc of sale consideration
RAILWAYS
- 1.48 lakh crores allocated to Railways
- 3,6000 kms under track renewal
- Railways capex pegged at Rs 1.48 lakh crore. Last year it was Rs 1.31 lakh crores.
- Re-development of 600 major railway stations
- All trains will be progressively provided with Wi-Fi, CCTV and other state-of-the-art amenities
- Over Rs 1.48 lakh crore to be allocated for railways in next fiscal
- Suburban network of 160 km planned for Bengaluru
TOURISM
- 10 prominent tourist sites to be developed as iconic tourist spots
GOLD/SILVER rates
- SILVER RDY Rs 39,300.00 Per KG
- GOLD(24-carat) RDY Rs 30,870 PER 10 Grams
- GOLD(22-carat) RDY Rs 29,290 PER 10 Grams
- Govt to formulate a comprehensive gold policy to develop gold as an asset class; gold monetisation scheme to be
revamped
FINANCE/ECONOMY/MONEY
- Government will take all measures to curb use of crypto-currencies like bitcoin
- Govt will evolve a scheme to assign a Unique ID for companies
- Increase in salary for parliamentarians, automatic revise of salaries for MP every 5 years
- Law to regulate salaries for MPs
- Additional 90,000 crore collected by the Income Tax
- To provide RBI an instrument to deal with excess liquidity, RBI Act and other laws being amended
- Number of taxpayers have increase from 6.4 crore to 8.27 crore
TAX
- Tax: Status quo maintained for salaried class
- Personal income tax unchanged
- Standard deduction increased to Rs 40,000 in medical insurance from Rs 15,000 for salaried class
- Long term capital tax to be 10% for amount above Rs 1 lakh
- Health and Education cess increased to 4%
- Incentives for senior citizens: Exemption on interest income to be increased from Rs 10000 to Rs 50,000. Applies to all fixed deposit scheme
- Sensex tanks over 300 pts after FM announces 10 pc tax on some long-term capital gains from equity market
WELFARE/MISCELLANEOUS
- Centre earmarks Rs 150 cr to commemorate 150 years of birth of Mahatma Gandhi
- Expenditure for 2017-18 pegged at Rs 21.57 lakh crore, as against Rs 21.8 lakh cr previously estimated
- Jaitley announces allocation of Rs 56,619 crore for SC welfare and Rs. 39,135 crore for ST welfare