Finance minister Arun Jaitley today announced a hike in customs duty on mobile phones to 20 per cent from 15 per cent in a bid to boost local value addition in domestic electronics manufacturing.
Of the total budgetary allocation, the Archaeological Survey of India would get Rs 974.56 crore, which is 5.42 per cent more than the previous allocation.
The allocation comes amid External Affairs Minister Sushma Swaraj’s Nepal visit. She arrived in Kathmandu today for discussions with leaders of the Himalayan nation.
The budget proposals should have been "bold and radical", senior Congress leader and former finance minister P Chidambaram said.
Finance Minister Arun Jaitley today announced to increase the Minimum Support Price (MSP) of crops to at least 1.5 times of the production cost.
The CBI has been allocated Rs 698.38 crore by Finance Minister Arun Jaitley in the Budget presented today which is Rs 19.01 crore or a little over 2.79 per cent higher compared to the revised estimates of Rs 679.37 crore for 2017-18.
MP CM praised Jaitley "for presenting a visionary and futuristic budget which will provide an impetus to creation of a New India. It touches the chord of each and every section of society - farmers, salaried taxpayers, senior citizens and the poor."
The Finance Minister said that to cater to the growth of Bengaluru metropolis, the government has planned a suburban rail network of 160 km at an estimated cost of Rs 17,000 crore.
"The Budget promotes jobs creation, infrastructure, and focuses comprehensively on health, women, senior citizens, MSME and cashews sector," Sawant said.
A slower broadening of the tax base after the note-ban and GST implementation as well as weather- related impacts on crops could contribute to revenue slippage, it warned.
Finance Minister Arun Jaitley on Thursday announced the launch of the Gobar Dhan scheme to manage and convert cattle dung and solid water into compost and bio-fuel.
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.
Finance Minister Arun Jaitley said that NITI Aayog will initiate a national programme to direct efforts in AI and the Department of Science and Technology will launch a Mission on Cyber Physical Systems.
The Delhi Govt was given Rs 449.99 crore as central assistance in the Budget presented by Finance Minister Arun Jaitley in Lok Sabha.
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.
After the House was adjourned, former prime minister Manmohan Singh walked up to the Finance Minister and greeted him for his budget presentation.
"I had expected some financial assistance to important infrastructure projects for national capital. Am disappointed that Centre continues its step-motherly treatment to Delhi," the Aam Aadmi Party leader said in a tweet.
The government has hiked customs duty on numerous consumer goods.
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