Budget 2018 proposals kick in from today: Here's what is costlier, cheaper
Budget | April 01, 2018 6:58 ISTHere is a look at what will be cheaper and what will be costlier from today:
Here is a look at what will be cheaper and what will be costlier from today:
Besides, other tax proposals like reduced corporate tax of 25 per cent on businesses on turnover of up to Rs 250 crore and a standard deduction of Rs 40,000 in lieu of transport allowance and medical reimbursement will come into effect from Sunday.
In the recent past, the budget was passed without any discussion in 2013-14 and 2003-04.
Jaitley had announced in the Budget earlier this month that the government will fix the minimum support price (MSP) of Kharif 2019 crops at least 1.5 times than the cost of production.
Replying to a debate on Budget 2018-19, the minister said that a lot of things have changed since the NDA government took office in May 2014.
Finance Minister Arun Jaitley said that lowering interest rates is a decision entirely in the domain of banks.
On Thursday, Finance Minister Arun Jaitley while presenting the Union Budget 2018-19 announced an increase in customs duty on mobile phones from 15 to 20 percent
The government, he said, is working on removing the “unevenness in the tax paid by different classes of people” by using foolproof technological system.
The key budget provisions include the announcement of a minimum support price for farmers that will be 1.5 times of the cost incurred by them, a health insurance of Rs 5 lakh for 10 crore poor families.
Randeep Surjewala said two health insurance schemes have been brought by the Modi government and the proposed National Health Protection Scheme is now being billed as NaMocare by BJP leaders.
"In Parliamentary language, the Sensex just placed a solid 800 point 'No Confidence Motion' against Modi's budget," Gandhi tweeted.
The 'National Health Protection Scheme' will be funded with 60 per cent contribution coming from the Central government and the remaining from the states.
Arun Jaitley said that 10% tax levied on Long Term Capital Gains alone will fund both the hike in farmers' MSP and the ambitious National Health Protection Scheme.
When asked about why government left the personal income tax slabs unchanged, Hasmukh Adhia said, “Increasing tax limits will expunge taxpayers from tax bracket. There is a big loss in this.”
Shrikant Sharma today said that the government is taking several initiatives to prove jobs to the youth, and that more job opportunities have been created than what the party had promised.
Speaking at India TV's Samvaad conclave, organised to discuss this year’s Budget, BJP spokesperson Sambit Patra said that this is for the first time when people are discussing about healthcare and not tax.
A day after Finance Minister Arun Jaitley presented the Union Budget 2018-19, equity markets tumbled and provisionally closed deep in the red on Friday.
Narendra Singh Tomar on Friday lauded the announcements made by the government for the agriculture sector, saying that it will benefit the agriculture and farmers.
Market mood suffered another setback after Fitch Ratings today said high debt burden of the government constrains India's rating upgrade.
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