Key Highlights of The Budget 2018

Budget 2018 Highlights
  1. Target to strengthen agriculture, rural development, health, education, employment, MSME and Infrastructure.
  2. Structural reforms to propel India among the fastest growing economies in the world.
  3. India to become the Fifth Largest Economy in the world in times to come
  4. For unannounced Kharif Crops, the MSP will be 1.5 times their production costs.
  5. Development of 22,000 rural haats and their upgradation to Gramin Agricultural Markets to protect interests of 86% small and marginal farmers
  6. New funds for Fisheries and Animal Husbandary announced – 2 funds worth INR 10,000 Crore
  7. Restructuring National Bamboo mission gets INR 1290 crore
  8. Increase in the Loan Amount availabe to Women Self Help Groups(SHG) to increase from INR 42,500 crore last year to INR 75,000 crore in 2019.
  9. Increase in targets for Ujjwala, Saubhagya and Swachh Bharat missions to cater to lower and middle class groups in providing free LPG Connections, electricity and toilets.
  10. Health, Education and Social Protection Outlay will be INR 1.38 lakh crore
  11. Access to Eklavya Residential School to the Tribal Students by 2022.
  12. Propose 10% LTCG Tax in equity Investments of over INR 1 lakh
  13. Flagship National Healthcare Protection Scheme to cover 50 crore beneficiaries to a maximum limit of INR 5,00,000 per annum for secondary and tertiary care hospitalization .
  14. Government Focuses on Ease of Living for poor.
  15. To set up one medical college for every 3 constituencies, upgrading existing hospitals to medical colleges. 24 new government colleges to be established.
  16. Expansion of Jan Dhan Yojana Bank Account – such accounts to be covered under micro-insurance and pension schemes.
  17. Social Inclusion Schemes for Scheduled Castes – INR 52,719 Crore, Scheduled Tribes – INR 39,139 crores
  18. Excise on Unbranded diesel cut by INR 2 at INR 6.33/Ltr
  19. Excise on Unbranded petrol cut by INR 2 at INR 4.48/Ltr
  20. Govt. Contribution upto 12% of wages of new employees for next 3 years in all sectors
  21. Women employees contribution for first 3 years to be reduced to 8%, employer’s contribution remain unchanged for first 3 years
  22. Development of 35,000 kilometres of roads under Phase-1 of Bharat mala project budgeted to INR 5.35 Crore
  23. New Tunnel to be constructed in Sera Pass to promote tourism
  24. 10 prominent tourist sites will be converted to iconic tourist destinations with an amalgamation of private funding, marketing and branding.
  25. Introduction of Pay as you use system for toll payments.
  26. INR 60 Crore allocated to increase the existing number of airports by 5 times which is currently 124 in number
  27. 64 unconnected airports across the country to be connected through UDAN Scheme
  28. Additional Measures to strengthen business environment for Venture Capitalists and Angel Investors
  29. Large Corporations to get SEBI Mandate to meet 1/4th of their debt needs.
  30. RBI Norms to nudge companies to access bond markets for fund raising
  31. Doubled Allocation to Digital Indian Scheme to INR 3073 crores
  32. INR 10,000 crore allocated to build up 5 lakh Wi-fi Hotspots to let  5 crore rural citizens get access to Internet and Digital Media
  33. Government to Explore the Usage of Blockchain
  34. A Big No to the usage of Crypto Currency as legal tender
  35. Unique ID – Aadhaar Scheme for Corporates in Pipeline
  36. Revision in Divestment Target for FY 18 to INR 1 Lakh
  37. Proposal to merge 3 state run insurance companies and simultaneously list them on Stock Exchange.
  38. Recapitalization in banks will make banks capable of lending INR 5 lakh crore more.
  39. Textile Sector Allocation – INR 7148 Crores
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