Here are the highlights of much awaited Budget 2017-18

Here is all you need to know about the Union Budget 2017- 18

Finance Minister Arun Jaitley today presented his fourth annual budget, the budget  2017 -18. He is the first finance minister who has presented Union Budget and Railway Budget together.

Here are the highlights of this year’s budget, take a look:

  • Income tax has been cut upto 5 percent for individuals having income between 2.5 lakh to 5 lakh.
  • Revenue deficit reduced to 2.1 pc to 2.3 pc for 2016- 17.
  • Functional Autonomy of the railways will be maintained
Budget 2017
Budget 2017

Related : Govt. Is Running Against Time For Implementation Of GST: Arun Jaitley

Agriculture Sector

  • NABARD fund will be increased to Rs.40, 000 crore.
  • Issuance of soil cards has gained momentum.
  • Irrigation corpus has increased from Rs.20,000 crore to Rs.40,000 crore
  • A sum of Rs.10 lakh crore is allocated as credit to farmers, with 60 days interest waiver.

For Rural Population

  • Over 3 lakh crore will be invested in rural India. MGNREGA to double the farmers income
  • Space technology would be used in a big way to ensure MGNREGA works.
  • During 2017- 18, five lakh farm ponds will be taken up under the MGNREGA
  • The government has proposed 1 crore houses for the homeless people.

For the health of underprivileged

  • Aadhaar- based smartcards will be issued to senior citizens to monitor health.
  • Tuberculosis will be completely eliminated till 2025.
  • Two AIIMS will be set up in Jharkhand and Gujarat
  • Affordable housing will be given infrastructure status

Related : Arun Jaitley Will Not Attend SAARC Meeting In Pakistan :Reports

Infrastructure and Railways

  • Unmanned level crossings will be eliminated by 2020.
  • SMS- based “clean my coach service” is put in place.
  • By 2019 all the trains will have bio – toilets
  • Railways will offer competitive ticket booking facility.
  • Rs.64, 000 crore allotted for highways.

Personal Income Tax

  • People filing I-T return for people with annual income for Rs.5 Lakh other than business income.
  • Simple one page return for people with annual income of Rs.5 lakh other than business income.
  • All other categories for tax payers in subsequent brackets will get benefit of 12, 5000.
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Parul Srivastava

She likes to express herself through her write-ups. She doesn’t believe in doing different things but she enjoy doing things differently.
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