BUDGET 2018- Highlights
BUDGET 2018- Highlights:
1. Increase the custom duty on mobiles from 15% to 20% and on some other mobile parts to 15%, and some parts of TVs to 15%.
2. Increase the health and education cess to 4%
3. Tax long-term capital gains exceeding Rs 1 lakh in listed stock at 10%.
4. Rs 50,000 additional benefit to senior citizens for investment in mediclaim
5. A standard deduction of additional Rs 40,000 for salaried employees. This move will benefit 2.5 crore taxpayers
6. No changes in the structure of income tax for individuals
7. Benefit of the reduced corporate rate of 25% for companies with reported turnover of up to Rs 250 crore.
8. 100% tax deduction for the first five years to companies registered as farmer producer companies with a turnover of Rs. 100 crore and above.
9. Emoluments of President, Vice President and Governor being revised: Rs 5 lakh; 4 lakh; Rs 3.5 lakh per month respectively.
10. Recapitalisation to enable PSU banks to lend Rs 5 lakh crore
11. The government will assign every enterprise in India a unique ID on the lines of Aadhaar.
12. Rs 5.97 lakh crore allocated for infrastructure spending in India.
13. 5 lakh WiFi hotspots to be set up in rural areas to provide easy Internet access.
14. Redevelopment of 600 major railway stations has been taken up; Mumbai transport system is being expanded; suburban network of 160 km planned for Bengaluru…
15. The government proposes to revamp the system of sanctioning of loans to SMEs. The information required for sanctioning the loan will be linked with GSTN and all required information can be fetched from GSTN Portal. It will help to grant the loans quickly and will help in reducing processing time.
16. UDAN will connect 56 unserved airports in India.
17. An institute is coming up at Vadodara to train people for the bullet train programme.
18. AMRUT programme will focus on water supply to all households in 500 cities. Water supply contracts for 494 projects worth 19,428 core awarded.
19. Rs 1,48,528 crore is the capital expenditure for the Indian Railways for 2018-19… All trains to be progressively provided with WiFi, CCTV and other state-of-the-art amenities.
20. Bharatmala project approved for better road connectivity at Rs 5.35 lakh crore.
21. Proposal to develop 10 prominent tourist destinations as Iconic tourism destinations.
22. Women’s contribution reduced to 8.33% towards PF in the first 3 years for new EPF accounts… The government will contribute 12% of EPF contribution for new employees in all sectors for the next three years.
23. 70 lakh farming jobs have been created this year, shows an independent study.
24. Rs 3 lakh crore allocated for PM MUDRA Yojana.
25. The government is slowly but steadily progressing towards universal health coverage.
26. Announce allocation of Rs. 56,619 crore for SC welfare and Rs. 39,135 crore for ST welfare
27. Healthcare stocks trading higher after the government said it proposed to cover 100 million families via healthcare protection scheme. Apollo Hospital Ltd rose 4.1%, Thyrocare Technologies Ltd 2.6%, Healthcare Global Enterprises Ltd rose 3%.
28. Mass formalization of MSME sector is happening after demonetization and GST.
29. Total 187 projects sanctioned under the Namami Gange programme.
30. 24 new government medical colleges and hospitals to be set up by upgrading existing district hospitals.
31. Rs 600 crore for nutritional support to TB patients.
32. One medical college per every three constituency.
33. 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 approximately 50 crore. Providing Rs 5 lakh per family per year for medical reimbursement, under National Health Protection Scheme. This will be world’s largest health protection scheme.
34. Rs 1200 crore for the flagship programme in health wellness centres.
35. Eighteen new schools of planning and architecure will be set up… I propose railway university in Vodadara.
36. Eklavya schools to be started for Scheduled Tribe population… Scheme for revitalizing school infrastructure, with an allocation of 1 lakh crore rupees over four years. Called RISE – Revitalizing Infrastructure in School Education.
37. Integrated B.Ed programme to be initiated for teachers, to improve quality of teachers.
38. Technology will be the biggest driver in improving education.
39. Rs 14.34 lakh crore to be spent for providing livelihood to rural India through infrastructure building.
40. Loans to self help groups will increase to Rs 75,000 crore by March 2019.
41. We aim that by 2022, all poor people have a house to live in.
42. In the next financial year, we target the construction of two crore toilets.
43. Removal of crop residue to be subsidised in order to tackle the problem of pollution due to burning of crop residue:
44. Ujwala will give 8 crore women new LPG connections.
45. Special scheme to address air pollution in Delhi-NCR region.
46. Credit for agricultural activities is up from Rs 10 lakh crore to Rs 11 lakh crore .
47. Fishery and aquaculture and animal husbandry funds with a total corpus of Rs 10,000 crore.
48. Agri-Market Development Fund with a corpus of Rs 2000 crore to be set up for developing agricultural markets.
49. Restructured National Bamboo Mission to be launched with an allocation of Rs 1290 crore to promote bamboo sector in a holistic manner.
50. Grameen Agricultural Market (GRAM) will provide farmers a means to sell directly to buyers.
51. Rs 500 crore announced for Operation Green.
52. Allocation to food processing ministry is being doubled from Rs 715 crore to Rs 1400 crore.
53. Cluster-model approach to be adopted for agricultural production.
54. The focus is on low-cost farming, higher MSP. Emphasis is on generating farm and non-farm employment for farmers.
55. 470 APMCs have been connected to eNAM network, the rest to be connected by March 2018… Agri-Market Development Fund with a corpus of 2000 crore to be set up for developing agricultural markets.
57. Agri-related stocks gain after it is said MSP for all crops to be increased by 1.5 times. Kaveri Seeds Co Ltd rose 2.4%, Jain Irrigation Systems Ltd 2.1%, Escorst Ltd rose 5%, Mahindra & Mahindra Ltd rose 2.2%.
58. The government will ensure payment of full MSP even if farmers sell below MSP.
59. The Minimum Support Price of all crops shall be increased to at least 1.5 times that of the production cost.
60. Our government has ensured that services and benefits reach people directly. The direct benefit transfer in India is the biggest such exercise in the world.
61. Maximum governance, minimum government has ensured India has climbed 42 places in the ease of doing business… We are now working toward easing of living in India