India TV, country’s leading Hindi news channel, hosted “Budget Conclave 2018”— a day-long event where leaders of the ruling BJP government and the Opposition brainstormed over the Union Budget 2018-19.
India TV, the country’s leading Hindi news channel, is hosting “Budget Conclave 2018” – a day-long event where leaders from the ruling BJP government and the Opposition will express their views and concerns on the Union Budget 2018-19.
To pay for seeming bout of generosity towards poor, albeit with vote-banks in mind, the finance minister has mopped up huge sums through three or four simple steps, mostly aimed at the middle class.
In the Budget 2017-18, Jaitley had reduced the income tax rate to 5 per cent from 10 per cent under the income slab from Rs 2.5 lakh per annum to Rs 5 lakh per annum.
According to Jaitley, the government has approved the listing of 14 CPSEs (Central Public Sector Enterprises), including two insurance companies, on the stock exchanges.
"Railways capex for 2018-19 has been pegged at Rs 1,48,528 crore," Jaitley said in his Budget speech.
The government has hiked customs duty on numerous consumer goods.
"The government had made many positive changes in the personal income-tax rate applicable to individuals in the last three years," Jaitley said in his Budget speech.
The government also announced a Prime Minister Fellowship scheme under which 1,000 B.Techs will be provided opportunity to pursue Ph.Ds in IITs and IISc.
"In order to create employment and aid growth, government's estimated budgetary and extra budgetary expenditure on infrastructure for 2018-19 is being increased to Rs 5.97 lakh crore, Jaitley said.
56 unserved airports and 31 unserved helipads will be connected under UDAN scheme, Jaitley said.
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