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Home >> News >> Budget 2018 Highlights: 10 Good and 5 Disappointing Announcements

Budget 2018 Highlights: 10 Good and 5 Disappointing Announcements

Posted on: 01 Feb, 2018 Tags   Budget 2018 Budget Session Arun Jaitley

IndiaNewsonWeb: 01 Feb, 2018, In the last full time budget of the Modi government, Finance Minister Arun Jaitley took full care of farmers, villagers, small industries and education and health sector and announced to allocate huge amount for them. On the other hand, the people of the work-force felt disappointed because there was no change in the limit of income tax exemption. The middle class had kept great hopes from the government on this front for the budget. Jaitley, however, did not make any changes in the rates and slabs of income tax, but the declaration of standard deduction of Rs. 40,000 annually for the salaried workers. From the perspective of the common people, what are the good things in this budget and what things are disappointed to the people, let's take a look-

Good Things

Announcing cashless facility up to Rs 5 lakh for treatment of 500 million people in the country

To improve the economic condition of farmers, the minimum support price of kharif crops is 1.5 times the increase.

Free gas connection to 8 crore poor women under Ujjwala scheme

Interest on up to Rs 50,000 on various deposits to the elderly will now be tax exemption.

Standard deduction of Rs 40,000 for salaried persons

Registered companies, as farmers, have benefitted 100% of tax deduction in the first five years.

Announcement of opening of a government medical college in each of three parliamentary areas

Eklavya School will be opened on the lines of Navodaya Vidyalayas in tribal areas.

Government will contribute 12% of the salaries of new employees in the Employees Provident Fund (EPF) of all sectors for the next three years.

Announcing corporate tax from 30 percent to 25 percent for small enterprises with turnover of up to Rs 250 crore

Dusappointing Things

There is no change in the income tax slabs and income tax. The middle class is in despair

Health, education cess was increased from 3 percent to 4 percent. This will increase the bill in all kinds.

In the Budget, a 10% tax on capital gains of more than Rs. 1 lakh has been proposed from the sale of shares.

Investors must pay 10 percent tax on the earnings of the mutual fund

Tax cuts are not available for large industry houses. If something done in this direction, then private investment is encouraged and employment opportunities are created.

However, while the government is counting the benefits of the budget, the opposition is not giving any lesson to its criticism. 

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