Arun Jaitley presents Union Budget 2018: Focus on agriculture, rural sector; Income tax rates unchanged
The Narendra Modi government on Thursday focused on agriculture, health, rural India and poor people, as the Finance Minister Arun Jaitley announced major allocations for these sectors in the Annual Budget for Financial Year 2018-19
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The Narendra Modi government on Thursday focused on agriculture, health, rural India and poor people, as the Finance Minister Arun Jaitley announced major allocations for these sectors in the Annual Budget for Financial Year 2018-19. PTI
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He announced the “world’s largest” government-funded health programme ‘National Health Protection Scheme’ which will cover 10 crore poor and vulnerable families by providing up to Rs 5 lakh per family per year. PTI
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Stating that there was “now a premium on honesty," Jaitley said, “The Indian economy is now $ 2.5 trillion economy in the world and expected to become the fifth largest economy very soon”. PTI
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The government made no changes in income tax slabs for individuals this year. While providing some sops to salaried individuals and pensioners, it aimed to raise Rs 11,000 crore by increasing cess on income of individuals, from three to four percent. PTI
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Although the budget received sharp criticism from the Opposition. Congress called it “defeatist” and a “big letdown”, and said that the government has “thrown in the towel” and conceded that it has failed to address key issues in the economy. PTI
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The Sensex and NSE Nifty closed lower in highly volatile trade on Thursday as markets gave a thumbs down to Budget proposals like long-term capital gains tax on equities. PTI
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