Is India Still Talking and Thinking .. Common Man Budget – Highlights of Budget 2018 India
by Digi Wolves
Here are the updates on the finance minister’s Union Budget 2018
• Propose to increase the
• Propose to increase the health and education cess to 4%
• Propose to tax long term capital gains exceeding Rs 1 lakh in listed
• Rs 50,000 additional benefit to senior citizens for investment
• A standard deduction of
• No changes in the structure of
• Rs 7000 crore will be the revenue foregone for the reduced corporate
• I propose to extend the benefit of the reduced corporate rate of 25%
• 100% tax deduction for the first five years to companies registered
• 41% more returns were filed this year, which shows that more people
• Demonetisation was received by honest taxpayers as ‘Imaandaari
• Revised fiscal deficit estimate for 2017-18 is 3.5% of GDP,
3.3% expected for 2018-19.
• Automatic revision of MPs’ emoluments every five years, indexed
• Emoluments of President, Vice President and Governor being revised: Rs 5 lakh; 4 lakh; Rs 3.5 lakh per month respectively.
• Exceeded the disinvestment target and collected Rs 1 lakh crore: FM.
• The government insurance companies to be merged into a single entity,
and subsequently listed in the stock exchange, as part of
• The government will assign every enterprise in India a unique ID on
• The government has identified 372 basic business reform actions.
• We will explore the use of blockchain.
• Rs 5.97 lakh crore allocated for infrastructure spending in India.
• 5 lakh WiFi hotspots to be set up in rural areas to provide easy
• Redevelopment of 600 major railway stations has been taken up;
• The government proposes to revamp the system of sanctioning of loans to
SMEs. The information required for sanctioning the loan will be
It will help to grant the loans quickly and will help in reducing
• UDAN will connect 56 unserved airports in India.
• An institute is coming up at Vadodara to train people for the bullet
• AMRUT programme will focus on
cities. Water supply contracts for 494 projects worth 19,428 core awarded.
• Rs 1,48,528 crore is the capital expenditure for the Indian Railways for
2018-19… All trains to be progressively provided with WiFi, CCTV
• Bharatmala project approved for better road connectivity at Rs 5.35
• Proposal to develop 10 prominent tourist destinations as Iconic
• Women’s contribution reduced to 8.33% towards PF in the first 3 years
contribution for new employees in all sectors.
• 70 lakh farming jobs have been created this year, shows an
• Rs 3 lakh crore allocated for PM MUDRA Yojana.
• The government is slowly but steadily progressing towards
• Announce allocation of Rs. 56,619 crore for SC welfare and Rs. 39,135
crore for ST welfare
• Healthcare stocks trading higher after the government said it proposed
Hospital Ltd rose 4.1%, Thyrocare Technologies Ltd 2.6%, Healthcare
Global Enterprises Ltd rose 3%.
• Mass formalization of MSME sector is happening after
• 24 new government medical colleges and hospitals to be set up
• Rs 600 crore for nutritional support to TB patients.
• One medical college per every three
• Have decided to take healthcare protection to a new aspirational level.
Launching a flagship National Health Protection Scheme to cover 10
lakh per family per year for medical reimbursement, under National
Health Protection Scheme. This will be
• Rs 1200 crore for the flagship programme in health wellness
• Eighteen new schools of planning and
propose railway university in Vodadara.
• Eklavya schools to be started for Scheduled Tribe population… Scheme
• Integrated B.Ed programme to be initiated for teachers, to improve
• Technology will be the biggest driver in improving education.
• Rs 14.34 lakh crore to be spent for providing livelihood to rural
• Loans to
• We aim that by 2022, all poor people have a house to live in.
• In the next financial year, we target the construction of two crore toilets.
• Removal of crop residue to be
pollution due to
• Ujwala will give 8 crore women new LPG connections.
• Special scheme to address air pollution in
• Credit for agricultural activities is up from Rs 10 lakh crore to Rs 11
• Fishery and aquaculture and animal husbandry funds with a total
• Agri-Market Development Fund with a corpus of Rs 2000 crore to be
• Restructured National Bamboo Mission to be launched with an
• Grameen Agricultural Market (GRAM) will provide farmers a means to
• Rs 500 crore announced for Operation Green.
• Allocation to food processing ministry is being doubled from Rs 715
• Cluster-model approach to be adopted for agricultural production.
• The focus is on low-cost farming, higher MSP. Emphasis is on
• 470 APMCs have been connected to eNAM network, the rest to
of 2000 crore to be set up for developing agricultural markets
• Agri-related stocks gain after it is said MSP for all crops to be increased by
1.5 times. Kaveri Seeds Co Ltd rose 2.4%, Jain Irrigation Systems Ltd 2.1%,
• The government will ensure payment of full MSP even if farmers
• The Minimum Support Price of all crops shall be increased to at least 1.5
times that of the production cost.
• Our government has ensured that services and benefits reach
• Maximum governance,
toward easing of living in India
• Budget 2018 will focus on agriculture and rural economy, health, infra,
senior citizens: FM
• This year’s budget will focus on strengthening rural and
• India grew at an average of 7.5% in the first three years since 2014. It
• All the structural reforms will help the economy in the short and longterm…
India is expected to become the fifth largest economy very soon.
• Our government has implemented structural reforms.
• India stands out as the fastest growing economy in the world… There is a
premium on honesty.
• Finance minister Arun Jaitley begins his Budget speech.
May 9, 2019
March 22, 2019