Highlights of Union Buget 2017 – 2018

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*GST* – No changes in service tax & excise duty as GST draft will be launching soon

*Fiscal Deficit* – Seen at 3.2% (17-18) & 3% (18-19)

*Current Account Deficit* – 0.3% (16-17) 1st Half

*FDI Investments* – 1.45 Lakh Crores (16-17) 1st Half

*Direct Tax* – Tax to GDP Ratio is very low

Income upto 2.5 Lakhs – Nil Tax

Income above 2.51 Lakhs to 5 Lakhs  – Reduces to 5% Tax from 10%

Income above 50 Lakhs to 1 Crore – 10% surcharge



*Farmer* – Double their income in 5 years

*Agriculture* – 10 Lac Crores credit

*MNREGA* – Allocation 48,000 Crores

*PM Gram Sadak Yojna* – Allocation 19,000 Crores

*Sr. Citizen* – 8% guaranteed pension for 10yrs by LIC of India scheme

*Rail Budget* – 1.31 Lakh Crores, New Railway Line of 3500 kms, No service charge on IRCTC Ticket booking

*Highway* – 67,000 Crores for National Highways

*Disinvestment* – Continue through ETF’s and timely disinvestments of PSU’s,

Target 72500 Crores

*Banking* – 10,000 Crores to PSU banks for Recapitalisation, Double landing targets to Bank 2.44 Lac Crores, 2.44 Lac Crores under mudra scheme

*Total Expenditure* – Estimated at 21.47 Lac Crores




*Defence Expenditure* – 2.74 Lakh Crores excluding Pension

*Long Term Capital Gain* – For immovable property reduced to 2yrs from 3yrs

*Income Tax* – Companies turnover less than 50 Crores will pay 5%  less tax, Effective rate 25%

*Cash Transaction* – No transaction over 3 lakes will be permitted in cash

*Infra* – Insurance company has to invest 25% in Infra bonds

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