Thursday 1 February 2018

India's 2018 Budget:No Change in Income Tax Slabs, But Rs 40,000 Standard Deduction to Boost Take-Home for Middle Class

In his Budget 2018 speech, Finance Minister Arun Jaitley has vowed to keep fiscal deficit at 3.3%. The President’s salary will go up to Rs 5 lakh a month, the Vice-President’s salary will rise to Rs 4 lakh per month and the Governor’s pay will rise to Rs 3.5 lakh a month. 
Jaitley also announced a Rs 150 crore fund to celebrate the 150th anniversary of Mahatma Gandhi. As per Budget 2018, Bengaluru Metro will get Rs 17,000 crore and Rs 11,000 crore will be allocated to Mumbai rail network. 

Jaitley has also increased the earmarked allocation for Scheduled Castes (Rs 56,000 crore) and Scheduled Tribes (Rs 39,000 crore) in Budget 2018. 
He announced the National Health Protection Scheme, the world’s largest government-funded universal healthcare programme, in his Budget speech. 
In the beginning, Jaitley announced higher MSP for farmers and an operation green to boost produce; welfare schemes for villages and promised to take education digital.
He said that the government’s focus will shift from Ease of Doing Business to Ease of Living for poorest of the poor. Breaking with tradition, Jaitley is delivering the speech both in Hindi and English. 
This is the Narendra Modi government’s first post-GST and last pre-poll Budget.

No comments:

Post a Comment

KASUMBAI