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

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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

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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.