Arun Jaitley presents the Union Budget 2017-18 in Lok Sabha on Wednesday. PTIJaitley's Budget
» FM Jaitley presented an 'Uttam' Budget, govt committed to empowering the poor: PM Modi
» Former RBI governor C Rangarajan describes Budget 2017 as 'a fairly routine' Budget
Budget 2017: know what's cheaper, what's dearer
Income Tax rate cuts
» Tax for Rs 2.5 lakh to 5 lakh income slab reduced to 5 percent from 10 percent
» 10 percent surcharge on income between Rs 50L and 1 crore
» 15 percent surcharge on income above Rs 1 crore to continue
» Those in higher tax brackets to get flat Rs 12.5K break
» Simplified one page form for tax-filing for those having income up to Rs 5 lakh; no scrutiny in the first year
Income tax: only a modicum of relief for the middle class
» No cash deposit above Rs 3 lakh in banks will be allowed
» I-T exemptions to startups extended, I-T for (Micro Small and Medium Enterprises) MSMEs with turnover less than Rs 50 crore reduced by 5 percent to 25 percent
Jaitley announces measures in Budget to give relief to startups
» 1 year tax exemption for unoccupied, unsold buildings
» Jaitley's focus: stimulation of growth, relief to middle class, curbing of black money, transparency to political funding, affordable housing
» Tax evaders put a burden on honest tax payers
» Fiscal deficit pegged at 3.2 percent of GDP, to be lowered to 3 percent the following year
Push for digital economy
» Aadhaar-enabled payment system for those without debit/credit cards
» Service charge on IRCTC bookings to be withdrawn
Also read: Your online train tickets just got cheaper
» Aadhaar-based health smart cards for senior citizens
» Computerization of 63K primary agricultural credit societies in 3 years
Steps to cleanse political funding
» Maximum cash donation to parties to be Rs 2K, electoral bonds from RBI for donations
» Parties would have to take donations above Rs 2K through check and digital payments
» Political parties should file I-T returns
Rail Budget
» Functional autonomy of the railways to be maintained
» Dedicated trains for tourists and pilgrims, more lifts and escalators at stations
» Bio-toilets in all coaches by 2019; 500 disabled friendly stations
Educational reforms
» National Testing agency to conduct all examinations in higher education, freeing CBSE and other agencies
» This would free CBSE, AICTE and other premier institutions from these administrative responsibilities so that they can focus more on academics
Infrastructure gets leg-up - Read more
» The government to invest Rs 3,96,000 crore on infrastructure.
» 2 new AIIMS in Jharkhand and Gujarat
» Huge outlay of Rs 2.41L crore for transport sector
» 1 crore houses to be built for the poor, 100% village electrification will be achieved by May 1,2018
Rural development
» About 1.5 lakh villages are promised high-speed Internet.
» Theme No. 1 of Jaitley's Budget: doubling farmers' income in 5 years; Rs 10 L crore as farm credit target set this year
» Overall approach for Budget is to spend more on rural areas, poverty alleviation and infrastructure
» The focus will be on energizing our youth, to reap benefits of growth & employment
»To distribute Rs 10,00,000 crore as agricultural loans and to set up more agricultural labs. Rs 9,000 » crore has been allotted for crop insurance.
Other Key points
» New law to confiscate the assets of offenders who flee the country
» Rs 10,000 crore for recapitalization of banks
» Foreign investment promotion board (FIPB) will be abolished
» Rs 1.84 L crore for women and children
» Head post offices for rendering passport services
Jaitley Lauds demonetization
» Jaitley lauds GST Bill and demonetization, says growth restored after note ban
» Double digit inflation has been controlled; sluggish growth replaced by high growth; war on blackmoney launched
House condoles death of Ahamed
» Amid Opposition uproar, finance minister Arun Jaitley begins Budget presentation
» Lok Sabha speaker condoles death of E Ahamed MP as House convenes for Budget presentation
» Budget presented in cabinet, president gives assent
» PM Modi, Lok Sabha speaker Sumitra Mahajan, home minister Rajnath Singh and union minister Ananth Kumar visit Ahamed's residence
» Uncertainty prevailed over Budget presentation after the death of Lok Sabha MP E Ahamed who collapsed in Parliament Tuesday
» Congress, Muslim League demand postponement of Budget; threaten to boycott the Budget presentation if the government goes ahead with it
