|Impact of Budget 2018| |Railways| |Agriculture| |Food Processing| |Airlines| |Railways| |Electronics| |Contractor| |Liquid Petroleum Gas | |Medicine| |Medical Bill|. All about Union Budget 2018.
Finance Minister Arun Jaitley presented the last full time budget for the Modi government. There were many things special in this budget. This time, many parts of the budget were read in Hindi. This was the first time that a finance minister had read the budget in Hindi. This was Arjun Jaitley’s fifth consecutive budget and Arun Jaitley, who has consistently presented 5 budgets, became the fifth Finance Minister.
What did the farmers get?
– Institutional credit for agriculture has been increased to Rs 11 lakh crore for 2018-19.
– The goal of doubling the farmers till 2022.
– For the development of agricultural markets, agricultural market development funds will be set up with a fund of Rs.2000 crores.
– Proposal to start the restructuring of National Bamboo Mission with Rs. 1200 crores. Fisheries and Animal Husbandry sector have been allocated Rs. 10,000 crores.
– Proposal to launch ‘Operation Greens’ on the lines of Operation Flood.
– Minimum Support Price of Kharif crops has been set 1.5 times of production cost.
– Emphasis on creating farm and non-agricultural jobs for farmers.
– An announcement of 2,600 crore for agricultural irrigation scheme
– A farmer credit card will also be given for animal husbandry.
Use of cluster model to double the income of farmers.
– At the country’s agricultural output record level, 275 million tonnes of foodgrains were grown in 2017.
– Free dialysis facility and all other government services will be available to the poor online.
Know things to be Expensive
– TV-mobile prices will increase
– Exotic mobile, laptops will also be expensive.
– There will be no exemption of 15 thousand on medical bills.
- Cars and motorcycles will be expensive.
– Fruit juice, perfume, gold and silver, vegetables will be expensive
– Parlor for women will go expensive
– Sun tan, manicure, Pedicure goods, Denture fixative paste and powder, Dental floss are expensive
– Shaving materials, deodorants, bath accessories, cigarettes and lighter will be expensive
– Radial tires of toilet spray, towing and buses are expensive.
– Silk clothes, diamonds will be expensive.
– Artificial jewelery Smart watches – wearable equipment will be expensive.
– Furniture, mattresses, lamps, hand and pocket watches, tricycle, scooters, pedal cars, wheeled toys, dolls are expensive
– Equipment used in outdoor games, swimming pools will be expensive.
Income Tax Rebate
– There has been no change in income tax rate.
– Taxation of 1,000 crores in taxation came into the official treasury.
– Deposit on deposit increased from 10 to 50 thousand rupees.
– Relief on deposit to senior citizens
– Last year 85.51 lakh new taxpayers were involved, due to which tax increased by 12.6 per cent.
Know things to be Cheaper
LNG (Liquefied Petroleum Gas) will be affordable
– Prepaid leather, silver foil, POC machines will be inexpensive.
– Finger scanner, micro ATM, iris scanner, solar battery will be cheap
– Reduced service tax on ready-made diamonds and e-tickets in the country.
– Processed cashew nuts, solar taper glass, cochlear implant, raw materials, accessories will be cheap.
Expenditure on health plans
– A plan to provide assistance to the poor under ‘Ayushman Bharat’.
– 50 million poor people will get insurance of 5 lakh per annum.
– Controlling the price of medicines.
– Announcing the release of 600 crores to TV patients.
What women got in budget?
– Women self-help groups will also be encouraged.
– Aimed to provide electricity connections to 40 million households.
– The goal of making 2 million toilets
– Free gas connections to 8 crore poor women
– 1.26 crore accounts were opened under Shukla Kanya Yojana.
What did middle class get?
– People of poor and middle class get relief in home loan.
– Announcement of 51 lakh houses by 2022
– Announcing the exemption of up to Rs 50 thousand in the interest rate on the deposited amount to the elderly.
– Interest on FD, RD for the elderly will be tax free.
– Declaration of giving standard deduction of 40 thousand to all salaried persons.
Impact on Footware to Air Fare
– Those who have slipers in the country will now be able to travel to the airplane.
– The announcement of connectivity facility in 56 airports and 31 helipads under ‘Flying Plan’.
– 16 international airports will be built and the flight process will be started at 124 airport.
Many more impact on Budget
– Emphasis on the maximum use of solar power.
– 200 crore announcement for small scale industries
– Announcement of Rs. 1400 crores for food processing area. Last year, the food processing sector grew by 8 percent.
– Disinvestment announcement in ONGC
– The RBI Act will be revised.
– Bitcoin like digital currency will not run in the country.