Highlights of Union Budget 2018-2019

Highlights of Union Budget 2018-2019, Union Budget 2018-2019, key to budget 2018-2019, Highlights of Union Budget 2018-2019 pdf

Top Highlights

  1. No changes in personal income tax slabs.
  2. Salaried taxpayers to get a standard deduction of Rs.40,000 in lieu of transport allowance and “other medical expenses”
  3. ₹2,000 crore fund for development of Agri markets
  4. All senior citizens will now be able to claim the benefit of a deduction of ₹50,000 for any medical insurance.
  5. For critical illnesses, the deduction has been increased to ₹1,00,000.
  6. Free power connections to 4 crore homes under the Saubhagya Yojana
  7. 8 crore free gas connection for poor women through Ujjwala Yojana
  8. Govt. to implement Minimum Support Price for all crops; It is hiked to 1.5 times of production costs
  9. Govt to contribute 12% of wages of new employees for all sectors.
  10. New flagship National Health Protection Scheme, providing a health insurance cover of ₹5 lakh per family per year announced
  11. Railway capex for the year 2018-19 set at ₹1.48 lakh crore
  12. Disinvestment target for this year set at ₹80,000 crore
  13. Automatic revision of emoluments Parliamentarians every five years, pegged to inflation



KEY TO BUDGET DOCUMENTS BUDGET 2018-2019

1. The list of Budget documents presented to the Parliament, besides the Finance Minister’s Budget Speech, is given below:

A. Annual Financial Statement (AFS)

B. Demands for Grants (DG)

C. Finance Bill

D. Statements mandated under FRBM Act: i. Macro-Economic Framework Statement ii. Fiscal Policy Strategy Statement iii. Medium Term Fiscal Policy Statement

E. Expenditure Budget

F. Receipts Budget

G. Expenditure Profile

H. Memorandum Explaining the Provisions in the Finance Bill

I. Budget at a Glance

J. Outcome Budget

The documents shown at Serial A, B, and C are mandated by Art. 112,113, and 110(a) of the Constitution of India respectively, while the documents at Serial No. D (i) (ii) and (iii) are presented as per the provisions of the Fiscal Responsibility and Budget Management Act, 2003. Other documents are in the nature of explanatory statements supporting the mandated documents with narrative in a user-friendly format suited for quick or contextual references. Hindi version of all these documents is also presented to the Parliament. A web version is hosted at http://indiabudget.nic.in.


Highlights of Union Budget 2018-2019, Union Budget 2018-2019, key to budget 2018-2019, Highlights of Union Budget 2018-2019 pdf, Highlights of Union Budget 2018-2019, Union Budget 2018-2019, key to budget 2018-2019, Highlights of Union Budget 2018-2019 pdf
Highlights of Union Budget 2018-2019, Union Budget 2018-2019, key to budget 2018-2019, Highlights of Union Budget 2018-2019 pdf, Highlights of Union Budget 2018-2019, Union Budget 2018-2019, key to budget 2018-2019, Highlights of Union Budget 2018-2019 pdf
Highlights of Union Budget 2018-2019, Union Budget 2018-2019, key to budget 2018-2019, Highlights of Union Budget 2018-2019 pdf, Highlights of Union Budget 2018-2019, Union Budget 2018-2019, key to budget 2018-2019, Highlights of Union Budget 2018-2019 pdf
Highlights of Union Budget 2018-2019, Union Budget 2018-2019, key to budget 2018-2019, Highlights of Union Budget 2018-2019 pdf, Highlights of Union Budget 2018-2019, Union Budget 2018-2019, key to budget 2018-2019, Highlights of Union Budget 2018-2019 pdf

 

About the Author

Leave a Reply

You may also like these