* Minance Minister Arun Jaitley proposed to tax long-term capital gains exceeding Rs 1 lakh at 10 percent without indexation.
* Electronic IT assessment will be rolled out across the country, leading to greater efficiency and transparency.
* Mobile phones will get costlier as customs duty on them has been increased to 20 percent.
* Health and education cess increased to 4 percent.
* For senior citizens, dispensation of interest income on bank deposits raised to Rs 50,000
* Proposal to introduce a tax on distributed income by equity-oriented mutual funds at 10 percent.
* Standard deduction of Rs 40,000 for salaried employees in lieu of transport and medical expenses
* Now companies with turnover of up to Rs 250 crores to be taxed at 25 percent
* Arun Jaitley said that the government does not propose any changes in tax slabs for the salaried class this year.
* FM proposes fiscal deficit of 3.3% of GDP for 2018-19.
* Finance Minister Arun Jaitley proposed revising emoluments as per the following structure:
-Rs 5 lakh for the President of India
– Rs 4 lakh for the Vice President
-Rs 3.5 lakh for the Governors
* Jaitley also proposed an automatic revision of emoluments of Parliamentarians every five years, indexed to inflation.
* We have already exceeded our disinvestment target, announced Arun Jaitley.
Disinvestment target for 2017-18 has been more and will reach Rs 1 lakh crore. Target for 2018-19 is Rs 80,000 crore.
* 5 lakh WiFi hotspots to be set up in rural areas to provide easy internet access.
* Government will take all steps for removal of the use of cryptocurrencies which are funding illegitimate transactions.
* Amrut program announced to focus on the water supply to all households in 500 cities. Water supply contracts for 494 projects worth Rs 19,428 core will be awarded: FM
* NITI Aayog will be established a national programme to direct our efforts in the area of Artificial Intelligence towards national development: FM
* Airport capacity to be increased to handle 1 billion trips every year.
* Arun Jaitley says that 4,000 km of new railway track will be laid down by 2019.
* All railways stations with footfall more than 25,000 to have escalators, says the Finance Minister.
* Mumbai transport receives Rs 40,000 crore.
* The government will undertake redevelopment of 600 major railway stations in the country.
* Arun Jaitley announces capital expenditure of Rs 1,48,528 crore for Indian Railways in 2018-19.
* National Heritage City Development Augmentation Scheme has been undertaken to preserve and protect heritage cities in the country, announces the Finance Minister.
* Government to contribute 12 percent of EPF contribution for new employees in all sectors: FM
* Infrastructure is the growth driver of economy: Jaitley
* Target of 3 lakh crore for lending under PM Mudra Yojana: FM
* MSME enterprises are the main element for growth, says Jaitley. He also added that mass formalization of MSME sector is happening after demonetization and GST.
* Govt will launch health scheme to cover 10 crores, poor families, Arun Jaitley says.
* The Government is slowly but steadily progressing towards universal health coverage: FM
* Government plans to bring 60 crore bank accounts under the Jan Dhan Yojana.
* Eklavya schools to be started for Scheduled Tribe populations: Finance Minister
* Rs 600 crore allocated to Tuberculosis patients who are undergoing treatment.
* Govt will set up two new Schools of Planning and Architecture, said Finance Minister Jaitley.
* To tackle brain drain, Jaitley announces a scheme to identify bright students pursuing B Tech in premier engineering institutes, and providing them higher-education opportunities in the IITs and IISc. These students will receive good fellowships and will be expected to dedicate a few hours to teach in higher education institutions weekly.
* Specialized railway university to be set up at Vadodara.
* Jaitley proposed an integrated B.Ed programme for teachers: “training of teachers during service is essential.” Technology will be the biggest driver in improving the quality of education.
* Budget allocates money for social security and protection programme for all widows and orphans.
* We have a target to provide all Indians with their own homes by 2022, says Jaitley.
* Ujjwala scheme to increase targets will now provide 8 crores, rural women, free LPG connections.
* Air pollution in Delhi-NCR has been a cause of concern, govt has proposed subsidized machinery for in-situ management of crop residue in Punjab, Haryana, Uttar Pradesh and NCT Delhi.
* Govt. of India will take necessary measures to put in place measures for the state government to purchase surplus solar power produced by local farmers at suitable prices.
* Arun Jaitley proposes a sum of Rs 500 crore for ‘Operation Green’ on the lines of ‘Operation Flood’.
*The Food processing sector is going at an average of 8 percent per annum.
* We have been saying it for years that India is primarily an agricultural country: Jaitley
* Arun Jaitley on Minimum Support Price of agricultural products: Only increasing the MSP is not enough, the government will fix the MSP of agricultural products at 1.5 times the market rate.
* Our emphasis is on generating higher benefits and productive employment for the farmers: Jaitley while addressing the agricultural sector in his Budget speech 2018.
* Our government has worked sincerely, and without weighing the political costs, hoping that benefits are delivered to people at their doorsteps. The Direct Benefit Transfer system of India is a success story that is reiterated across the world: Jaitley.
* This year’s Budget will particularly focus on agriculture, says Jaitley.
* The finance minister also pointed out that India is one of the fastest-growing economies in the world.
* Indian economy has performed very well since our government took over in May 2014, says Arun Jaitley.
Live Coverage from the Lok Sabha – Union Budget 2018-19 https://t.co/ty740gs010
— Arun Jaitley (@arunjaitley) February 1, 2018