News Highlights Of The Union Budget 2017-18

Highlights Of The Union Budget 2017-18

Finance Minister Arun Jaitley has presented the Union Budget 2017-18. Here are the key announcements from the budget-:

    • Income tax rates reduced
    • No tax to be imposed on Income up to 3 lakh
    • No tax for those who use tax rebates on 4.5 lakh income
    • 10% surcharge on those who earns between 50 lakh-1 crore
    • No scrutiny on first-time taxpayers
    • 5% reduced tax rates for those earning between 2.5 lakh-5 lakh
    • Political parties should receive funds only from cheque or digital modes
    • No Cash transaction above 3 lakh
    • 55,393 crore has been assigned for the Scheduled Castes
    • Two new AIIMS to be set up in Jharkhand and Gujarat
    • 100 India international Skill Centres to be established
    • Allocation for MNREGA raised to  Rs. 48,000 crore
    • Dedicated to bring 1 crore rural households out of poverty
    • Allocation for Women, child welfare raised to Rs. 1,84,362 crore
    • Railway lines of 3,500 km to be constructed in2017-2018
    • Target to eliminate tuberculosis by 2025
    • #TECIndia- Transform, Energize and Clean India government’s agenda for the next year
    • Allocation for rural, agricultural & related sectors for 2017-18 is Rs 1,87,223 crore
    • New Oil Reserve will be set up
    • 500 Disabled friendly stations to be set up
    • Service charge on Online Railway booking is withdrawn
    • 10,000 crore for Recapitalisation of Banks
    • All coaches to have Bio-toilets by 2019
    • Will resolve all issues regarding GST by discussion
    • Aadhar-based health cards are to be set up for Senior citizens and they will earn 8% interest on saving through LIC
    • 1 crore houses to be completed by 2019 for houseless or those living in ‘Kacha’ houses
    • Propose to provide safe drinking water in the next 4 years
    • An immediate target of training at least 20,000 by 2017-2018
    • Crop insurance scheme to be increased to 40%

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