This budget is Rural Budget, infra Budget, Populist budget, Budget for health, A budget Opening some new ways to raise Revenue for govt like LTCG. India Inc maybe not received anything big out of It. I am mentioning the Highlights of Budget and their analyses
- Fiscal deficit Expected on FY 19 is 3.3%, Divestment Target 80000. 85.51 lk new tax payers. IMF Expects growth 7.5%. Revised Estimate of Expenditure is 21.57 lk crore. Defence outlay raised to Rs 2.82 lakh crore in 2018-19 from Rs 2.67 lakh crore in current year. Food subsidy to rise to Rs 1.69 lakh crore in 2018-19 from Rs 1.4 lakh crore in current year.
- Agriculture is another Big Beneficiary. This budget accept Agriculture as enterprise and Proposed to make double income by same land parcel, All agriculture products will receive MSP 1.5 times on cost, from Previous Pridecided. APMCs are playing important role for India Agri. So govt planning to open more 2200 APMCz. Farm loans limit will be increased from 10 Lakh Crore to 11 Lakh Crore. Also The system will be set up for paying difference in between MSP and market price if price went down of MSP. Aqua culture funds introduced 10000 cr. Even lessee Farmers, farmers who leased land and then make income, now can take loan on it. Agricultural market and infra fund of Rs 2000 crore fund will be set up to strengthen the market connectivity. Rs 10,000 crore set aside for animal husbandry infra fund. Propose to launch a restructured bamboo mission with a fund of Rs 1200 crore . Because
Bamboo is green Gold
- Personal Income tax don’t received any big Thing. No change in Tax slabs. But standard deduction is increased upto 40000 before there was 35200 was non tax. now it is gone. Income tax ses is now 4% transport and medical allowance is gone. Senior citizens received deduction of 50000 from Medicaid. 1 lk medical expenses exempted from tax. Surcharge of 10% on income above Rs 50 lakh but less than Rs 1 cr to be continued next year; 15% on income above Rs 1 cr to also continue.
- 14 lakh Cr for rural infra and 5.35 lk cr Road infra, 1.5 lk cr for railway, 2 lk cr for Smart city. that is all. Even though Railway budget is part of Central Budget. nothing mentioned. Airport received large plus. capacity will be 5 times bigger in upcoming time
- Only one PSU general insurance company is listed. remaining will be merged and listed. Then why not merged them with New India assurance.
- Capital market is one which received slap. LTCG is introduced. plus Investors favorite per month dividend mutual funds are now under tax 10%
- Healthcare ( Or should I say Indian Version of Affordable Care Act ) is planned in the budget. Rupee 5 lak per family healthcare expenditure will be given by Govt. Good. plus 15000 Tax deduction on Health expenditure.
बजट प्रश्न – दस करोड़ ग़रीबों का स्वास्थ्य बीमा; प्रीमियम कौन भरेगा? ये रक़म कितनी होगी? बीमा लाभार्थी की पहचान कैसे होगी? दुनिया की सबसे बड़ी हेल्थ योजना पर बजट के छोटे पैरा में इन सवालों के जवाब नहीं मिले. कृपया पूरी जानकारी दें.
— Sanjay Pugalia (@sanjaypugalia) February 1, 2018
- GST collections projection pegged at Rs 7.43 lakh crore in full year 2018-19 as against Rs 4.44 lakh crore in nine months of current fiscal.
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