National Handloom Day 2026: From Alia Bhatt to Samantha Ruth Prabhu; Actresses who celebrated India's textile heritage as brides

The Royals enter the Doctor Who universe: King Charles and Queen Camilla beam into Commonwealth Games in TARDIS

Unitree Robotics targets $9 billion valuation in landmark IPO backed by DeepSeek and Tencent

India names 27 sites in Arunachal Pradesh

Bharat Bhhagya Viddhaata OTT: When will Kangana Ranaut's film stream online?

How many soldiers operate one S-400 battery?

Shakib Al Hasan ready to return to Bangladesh—under one condition

‘Fake news’: MEA rejects report claiming India sought defence pact with Israel after Pakistan, Saudi Arabia, Turkey deal

Rockstar to unveil GTA 6 extended look ahead of November launch

Russia forms Ukrainian Volunteer Spetsnaz Brigade to fight Ukraine

Drug-resistant fungus that hides in hair and enters bloodstream reported in 23 US states

Technology transfer deal boosts India's defence manufacturing ambitions

Border row erupts in Europe after Ceuta crossings, Spain imposes border controls on Italy

Morale plummets on USS Abraham Lincoln: Are US sailors reaching a breaking point? | GRAVITAS

'Security can't be bought with Pakistan, Turkey deal': Iran tells Saudi Arabia

Baba Vanga's 2026 prophecy: 2 predictions 'already came true', 3 terrifying ones remain. Details inside

Colombia’s new president Abelardo de la Espriella vows to ‘defeat narco-terrorists’, signals hardline shift

New Friday OTT releases (August 7, 2026): Operation Safed Sagar, Vadhandhi, Main Vaapis Aaunga- 6 movies and TV shows on Netflix, Prime Video and more

Squadron Leader Bhawana Kanth scripts history as Indian Air Force gets its first woman ‘Top Gun’ pilot

RSS says Gen Z protests reflect genuine distress

Trump says Iranian school bombing photos could be AI-generated - 'I don’t think...'

IAF officer held for sharing sensitive information in 'honey trap' case, booked under Official Secrets Act

Stray Kids under scrutiny? Fans react to Grammy submission silence after BTS boycott

Why the Su-30MKI doesn't need external fuel tanks to fly vast distances

Jugal Hansraj reunites with Shekhar Kapur after 40 years for Masoom: The Next Generation

New speed limits, automatic challans: Big traffic change coming to Delhi-Meerut Expressway. All you need to know

India officially names 27 places in Arunachal to counter China's renaming claims

Trump calls White House ballroom ruling a 'national disgrace' as court says Congress approval needed

US sanctions Iran’s crypto network after Strait of Hormuz attacks, offers $15m bounty for intel on IRGC finance

Why the Su-30MKI is one of the heaviest fighters ever built

Uttarakhand young innovator builds India's own flying vehicle, conducts first test flight: WATCH

Chilling video shows students take cover as teen opens fire at Thai school

Reese Witherspoon's father hospitalised after poolside incident in Nashville: Report

The government in its budget has made <a href="http://www.wionews.com/business-economy/as-expected-budget-2018-friendly-to-farmers-big-on-health-stocks-fall-31454">PAN mandatory for any entity</a> entering into financial transaction of 2.5 lakh or more.

PAN will also be used as Unique Entity Number for non-individuals from April 1. The government has also decided to impose 10 per cent surcharge on income above Rs 50 lakh.

<a href="http://www.wionews.com/business-economy/union-budget-2018-full-text-of-finance-minister-arun-jaitleys-speech-to-parliament-31464">Read:&nbsp;Union Budget 2018: Full text of Finance Minister Arun Jaitley&#39;s speech to Parliament</a>.

Surcharge of 15 per cent on income above Rs 1 crore will continue.

<a href="http://www.wionews.com/india-news/top-takeaways-from-union-budget-2018-31457">Also Read:&nbsp;Top takeaways from Union Budget 2018</a>

The Modi government has also decided to impose customs duty on mobile phones from 15 per cent to 20 per cent including in certain parts of TVs it has been pegged at 15 per cent.

&quot;There is substantial potential for domestic value addition in certain sectors, like food processing, electronics, auto components, footwear and furniture,&quot; the finance minister said during his budget speech.

&quot;This measure will promote creation of more jobs in the country,&quot; Jaitley added.

Surcharge of 15 per cent on income above Rs 1 crore will continue.

The government in its budget has made PAN mandatory for any entity entering into financial transaction of 2.5 lakh or more. PAN will also be used as Unique Entity Number for non-individuals from April 1. The government has also decided to impose 10 per cent surcharge on income above Rs 50 lakh. Read: Union Budget 2018: Full text of Finance Minister Arun Jaitley's speech to Parliament. Surcharge of 15 per cent on income above Rs 1 crore will continue. Also Read: Top takeaways from Union Budget 2018 The Modi government has also decided to impose customs duty on mobile phones from 15 per cent to 20 per cent including in certain parts of TVs it has been pegged at 15 per cent. "There is substantial potential for domestic value addition in certain sectors, like food processing, electronics, auto components, footwear and furniture," the finance minister said during his budget speech. "This measure will promote creation of more jobs in the country," Jaitley added.

Union Budget 2018: Govt imposes 10 per cent surcharge on income above Rs 50 lakh

An outlay of Rs 2.95 lakh crore was today set aside for the defence budget for the next fiscal which is an increase of 7.81 per cent over last year&#39;s Rs 2.74 lakh crore.

Out of the total allocation, the capital outlay for the three defence services for purchase of new weapons, aircraft, warships and other military hardware has been pegged at Rs 99,947 crore.

The outlay for defence budget amounted to 12.10 per cent of the total budget of Rs 24,42,213 crore for 2018-19.

In his budget speech, Finance Minister Arun Jaitley appreciated the role played by the armed forces in meeting challenges on the country&#39;s borders as well as in managing the internal security environment, both in Jammu and Kashmir and the Northeast.

He said the government will develop two defence industrial production corridors and bring out an industry- friendly military production policy to promote the domestic defence industry.

Compared to revised estimate of Rs 2.79 lakh crore for the defence budget in 2017-18, the increase in allocation has been 5.91 per cent but compared to the budget outlay of Rs 2.74 lakh crore, the hike is 7.81 per cent.

Out of Rs 2,95,511 crore allocated for the financial year 2018-19, Rs 99,947 crore has been pegged for capital outlay which includes expenditure on modernisation of the three forces, according to the defence ministry.

The revenue expenditure, which covers payment of salary, maintenance of establishments and other related expenditure, has been pegged at Rs 1,95,947 crore.

A separate amount of Rs 1,08,853 crore has been set aside over the above the total allocation for the paying pension to defence personnel.

The amount for defence pension is an increase of 26.60 per cent over the allocation of Rs 85,740 crore last year.

In his address, Jaitley said a lot of emphasis had been laid on modernising and enhancing the operational capability of the defence forces in the last three-and-half years.

&quot;The government will take measures to develop two defence industrial production corridors in the country,&quot; he said.

Jaitley said the government would also bring out an industry-friendly &quot;defence production policy 2018&quot; to promote domestic production by the public sector, private sector and MSMEs.

He said a number of initiatives had been taken to develop and nurture India&#39;s intrinsic defence production capability to make the nation self-reliant on its defence needs.

The minister said private investment in defence production had been opened up, including liberalising foreign direct investment.

The outlay for defence budget amounted to 12.10 per cent of the total budget of Rs 24,42,213 crore for 2018-19.

An outlay of Rs 2.95 lakh crore was today set aside for the defence budget for the next fiscal which is an increase of 7.81 per cent over last year's Rs 2.74 lakh crore. Out of the total allocation, the capital outlay for the three defence services for purchase of new weapons, aircraft, warships and other military hardware has been pegged at Rs 99,947 crore. The outlay for defence budget amounted to 12.10 per cent of the total budget of Rs 24,42,213 crore for 2018-19. In his budget speech, Finance Minister Arun Jaitley appreciated the role played by the armed forces in meeting challenges on the country's borders as well as in managing the internal security environment, both in Jammu and Kashmir and the Northeast. He said the government will develop two defence industrial production corridors and bring out an industry- friendly military production policy to promote the domestic defence industry. Compared to revised estimate of Rs 2.79 lakh crore for the defence budget in 2017-18, the increase in allocation has been 5.91 per cent but compared to the budget outlay of Rs 2.74 lakh crore, the hike is 7.81 per cent. Out of Rs 2,95,511 crore allocated for the financial year 2018-19, Rs 99,947 crore has been pegged for capital outlay which includes expenditure on modernisation of the three forces, according to the defence ministry. The revenue expenditure, which covers payment of salary, maintenance of establishments and other related expenditure, has been pegged at Rs 1,95,947 crore. A separate amount of Rs 1,08,853 crore has been set aside over the above the total allocation for the paying pension to defence personnel. The amount for defence pension is an increase of 26.60 per cent over the allocation of Rs 85,740 crore last year. In his address, Jaitley said a lot of emphasis had been laid on modernising and enhancing the operational capability of the defence forces in the last three-and-half years. "The government will take measures to develop two defence industrial production corridors in the country," he said. Jaitley said the government would also bring out an industry-friendly "defence production policy 2018" to promote domestic production by the public sector, private sector and MSMEs. He said a number of initiatives had been taken to develop and nurture India's intrinsic defence production capability to make the nation self-reliant on its defence needs. The minister said private investment in defence production had been opened up, including liberalising foreign direct investment.

Rs 2.95 lakh crore allocated for defence budget for 2018-19

Finance Minister Arun Jaitley presented his last full year Budget on Thursday which, as expected, was friendly to rural India and agriculture.&nbsp;

Jaitley&#39;s biggest announcement of Thursday was the creation of the <a href="http://www.wionews.com/business-economy/budget-2018-government-to-set-up-worlds-largest-healthcare-programme-says-jaitley-31435" target="_blank">world&#39;s largest health insurance programme</a>.&nbsp;

Jaitley said Thursday that the government would insure 10 crore families or approximately 50 crore people.&nbsp;Each of those families would be insured up to Rs 5 lakh per year. (Fifty crore or 500 million is close to half the country&#39;s population.)&nbsp;

Jaitley added Thursday that the government would spend lakhs of crore rupees on kick-starting the&nbsp;rural sector. One of the biggest outlays would go towards pushing up the minimum support price of all Kharif crops to 1.5 times their production cost. (Critics of the government have been talking about wide-ranging distress in the rural sector, and the country will go to elections sometime before May next year.)&nbsp;

Other announcements included the distribution of 8 crore free gas connections to women (up from 5 crore connections), and 4 crore&nbsp;free electricity connections to the poor.

Jaitley added that the government would contribute 12% of&nbsp;payments to the Employees Provident Fund for all new employees for 3 years. And the contribution of women to the EPF would be reduced to 8% but with no corresponding decrease in the government&#39;s contribution.&nbsp;

But to fund all of this, Jaitley had to let go of the fiscal deficit. Jaitley announced Thursday that the fiscal deficit target this year would increase to 3.3%, higher than the earlier 3%. Most experts had expected a 3.2% target.&nbsp;

Jaitley, in that sense, had to try and balance his budget speech -- by both reaching out to the rural poor, a bloc the BJP has traditionally not done well with, while at the same time keeping his investors happy.&nbsp;

The stock markets <a href="http://www.wionews.com/business-economy/sensex-crashes-over-300-pts-on-capital-gains-tax-proposal-31458" target="_blank">did not react well to </a>the finance minister&#39;s revised fiscal deficit target, or his announcement that long-term capital gains above Rs 1 lakh from the sale of equities and equity mutual funds would be taxed at 10% -- the Sensex fell close to 440 points after opening higher than Wednesday&#39;s closing.&nbsp;

Also read: <a href="http://www.wionews.com/india-news/top-takeaways-from-union-budget-2018-31457" target="_blank">Top takeaways from Union Budget 2018</a>

Also read: <a href="http://www.wionews.com/business-economy/key-highlights-from-union-budget-2018-31455" target="_blank">Key highlights of Budget 2018</a>

Jaitley also lowered the corporate tax rate for small, micro and medium enterprises with turnover of up to Rs. 250 crore to 25 per cent from current 30 per cent.

While keeping personal income tax rates and slabs unchanged, Jaitley introduced a Rs 40,000 standard deduction for salaried employees and pensioners in lieu of transport and medical expenses.

Jaitley said the government&#39;s focus would be on agri sector, infrastructure and education sector as he promised to provide education holistically without segmentation from pre-nursery to Class 12 and to move from the&nbsp;blackboard to the digital board.

Over 9,000 kms of national highways will be completed in 2018-19 and allocation of over Rs. 1.48 lakh crore has been planned for the railways, Jaitley added.

Jaitley said that when the NDA government took over, India was considered one of the fragile five economies of the world but that the Modi-led government has reversed that with the country today being among the world&#39;s fastest-growing five economies.

&quot;India is today fastest growing economy... India is today a USD 2.5 trillion economy and will become fifth largest economy in the world from the present seventh largest,&quot; Jaitley said, projecting exports growth at 15 per cent.

&quot;In the second half (October-March) the growth is expected to be 7.2-7.5 per cent and firmly on path to achieve 8 per cent growth,&quot; he added.&nbsp;

(With inputs from PTI)

Finance Minister Arun Jaitley presented his last full year Budget on Thursday which, as expected, was friendly to rural India and agriculture. Jaitley's biggest announcement of Thursday was the creation of the world's largest health insurance programme. Jaitley said Thursday that the government would insure 10 crore families or approximately 50 crore people. Each of those families would be insured up to Rs 5 lakh per year. (Fifty crore or 500 million is close to half the country's population.) Jaitley added Thursday that the government would spend lakhs of crore rupees on kick-starting the rural sector. One of the biggest outlays would go towards pushing up the minimum support price of all Kharif crops to 1.5 times their production cost. (Critics of the government have been talking about wide-ranging distress in the rural sector, and the country will go to elections sometime before May next year.) Other announcements included the distribution of 8 crore free gas connections to women (up from 5 crore connections), and 4 crore free electricity connections to the poor. Jaitley added that the government would contribute 12% of payments to the Employees Provident Fund for all new employees for 3 years. And the contribution of women to the EPF would be reduced to 8% but with no corresponding decrease in the government's contribution. But to fund all of this, Jaitley had to let go of the fiscal deficit. Jaitley announced Thursday that the fiscal deficit target this year would increase to 3.3%, higher than the earlier 3%. Most experts had expected a 3.2% target. Jaitley, in that sense, had to try and balance his budget speech -- by both reaching out to the rural poor, a bloc the BJP has traditionally not done well with, while at the same time keeping his investors happy. The stock markets did not react well to the finance minister's revised fiscal deficit target, or his announcement that long-term capital gains above Rs 1 lakh from the sale of equities and equity mutual funds would be taxed at 10% -- the Sensex fell close to 440 points after opening higher than Wednesday's closing. Also read: Top takeaways from Union Budget 2018 Also read: Key highlights of Budget 2018 Jaitley also lowered the corporate tax rate for small, micro and medium enterprises with turnover of up to Rs. 250 crore to 25 per cent from current 30 per cent. While keeping personal income tax rates and slabs unchanged, Jaitley introduced a Rs 40,000 standard deduction for salaried employees and pensioners in lieu of transport and medical expenses. Jaitley said the government's focus would be on agri sector, infrastructure and education sector as he promised to provide education holistically without segmentation from pre-nursery to Class 12 and to move from the blackboard to the digital board. Over 9,000 kms of national highways will be completed in 2018-19 and allocation of over Rs. 1.48 lakh crore has been planned for the railways, Jaitley added. Jaitley said that when the NDA government took over, India was considered one of the fragile five economies of the world but that the Modi-led government has reversed that with the country today being among the world's fastest-growing five economies. "India is today fastest growing economy... India is today a USD 2.5 trillion economy and will become fifth largest economy in the world from the present seventh largest," Jaitley said, projecting exports growth at 15 per cent. "In the second half (October-March) the growth is expected to be 7.2-7.5 per cent and firmly on path to achieve 8 per cent growth," he added. (With inputs from PTI)

As expected, Budget 2018 friendly to farmers, big on health; stocks fall

Arun Jaitley presented his fifth Budget today.

Union Budget 2018: Full text of Finance Minister Arun Jaitley's speech to Parliament

Finance Minister Arun Jaitley today said a special scheme will be executed with Delhi government and adjoining states to address the rising air pollution in the National Capital.

Presenting the Union Budget 2018-19, the minister also said steps will be taken to subsidise the machinery required for management of crop residue.

Also read:&nbsp;<a href="http://www.wionews.com/india-news/top-takeaways-from-union-budget-2018-31457" target="_blank">Top takeaways from Union Budget 2018</a>

Also read:&nbsp;<a href="http://www.wionews.com/business-economy/key-highlights-from-union-budget-2018-31455" target="_blank">Key highlights of Budget 2018</a>

Also read:&nbsp;<a href="http://www.wionews.com/business-economy/union-budget-2018-full-text-of-finance-minister-arun-jaitleys-speech-to-parliament-31464" target="_blank">Full text of Finance Minister Arun Jaitley&#39;s speech to Parliament</a>

&quot;A special scheme will be implemented to support the efforts of the governments of Haryana, Punjab, Uttar Pradesh and the NCT of Delhi to address air pollution and to subsidise machinery required for in-situ management of crop residue,&quot; he said.

Unveiling the last full-year budget of the current BJP- led government in Parliament, he said air pollution in Delhi- NCR region has been a cause of concern.

The Economic Survey had suggested heavy penalties for burning agricultural waste, and more incentives for farmers to prevent alarmingly poor air quality in Delhi-NCR and adjoining areas.

The Survey said due to the burning of paddy fields after harvesting by farmers mainly from north India, the resultant smoke gets carried by winds to Delhi and beyond, adding to the existing suspended particulate matter (SPM) and noxious substances that clog lungs.

Citing various reports, the survey noted that Delhi accounts for one of the unhealthiest cities in the world in terms of air pollution.

Unveiling the last full-year budget of the current BJP- led government in Parliament, he said air pollution in Delhi- NCR region has been a cause of concern.

Finance Minister Arun Jaitley today said a special scheme will be executed with Delhi government and adjoining states to address the rising air pollution in the National Capital. Presenting the Union Budget 2018-19, the minister also said steps will be taken to subsidise the machinery required for management of crop residue. Also read: Top takeaways from Union Budget 2018 Also read: Key highlights of Budget 2018 Also read: Full text of Finance Minister Arun Jaitley's speech to Parliament "A special scheme will be implemented to support the efforts of the governments of Haryana, Punjab, Uttar Pradesh and the NCT of Delhi to address air pollution and to subsidise machinery required for in-situ management of crop residue," he said. Unveiling the last full-year budget of the current BJP- led government in Parliament, he said air pollution in Delhi- NCR region has been a cause of concern. The Economic Survey had suggested heavy penalties for burning agricultural waste, and more incentives for farmers to prevent alarmingly poor air quality in Delhi-NCR and adjoining areas. The Survey said due to the burning of paddy fields after harvesting by farmers mainly from north India, the resultant smoke gets carried by winds to Delhi and beyond, adding to the existing suspended particulate matter (SPM) and noxious substances that clog lungs. Citing various reports, the survey noted that Delhi accounts for one of the unhealthiest cities in the world in terms of air pollution.

Air pollution rings a bell in Budget, FM vows special scheme

While the principal Opposition party Congress on Thursday described the Union Budget 2015 presented by Finance Minister Arun Jaitley as mere &quot;lip service&quot;, and criticised the finance minister for &#39;failing&#39; in fiscal consolidation, Prime Minister Narendra Modi was all praise for the Union Budget 2018.

&ldquo;The govt has attempted to pay lip service to farmers and to other marginalised sections of society but it is a classic case of too less and completely at the inappropriate time,&rdquo; Congress leader Manish Tewari said.

Also read:&nbsp;<a href="http://www.wionews.com/india-news/top-takeaways-from-union-budget-2018-31457" target="_blank">Top takeaways from Union Budget 2018</a>

Also read:&nbsp;<a href="http://www.wionews.com/business-economy/key-highlights-from-union-budget-2018-31455" target="_blank">Key highlights of Budget 2018</a>

Also read: <a href="http://www.wionews.com/business-economy/union-budget-2018-full-text-of-finance-minister-arun-jaitleys-speech-to-parliament-31464" target="_blank">Full text of Finance Minister Arun Jaitley&#39;s speech to Parliament</a>

Former Finance Minister and Congress leader P Chidambaram hit out at Jaitley and said that the Union Minister failed fiscal consolidation test.

&ldquo;Jaitley fails fiscal consolidation test, this failure will have serious consequences,&rdquo; Chidambaram said.

&nbsp;RJD leader Tejaswi Yadav criticised the Budget on Twitter. &ldquo;Modi sarkaar ne dharaatal par kuch nahi kia aur na hi kar rahi. Sarkar sirf kaghazon par baaton ke pakore aur jumlon ke bataashe utaar rahi hai (The government has done nothing on the ground. They are just creating policies on paper),&rdquo; he wrote on Twitter.

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-lang="en">
मोदी सरकार ने धरातल पर कुछ नहीं किया और ना ही कर रही। सरकार सिर्फ़ कागज़ों पर बातों के पकौड़े और जुमलों के बताशे उतार रही है। <a href="https://twitter.com/hashtag/Budget2018?src=hash&amp;ref_src=twsrc%5Etfw">#Budget2018</a>
&mdash; Tejashwi Yadav (@yadavtejashwi) <a href="https://twitter.com/yadavtejashwi/status/958965587228622848?ref_src=twsrc%5Etfw">February 1, 2018</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">&times;</a></div>

&nbsp;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-lang="en">
Kudos to PM <a href="https://twitter.com/narendramodi?ref_src=twsrc%5Etfw">@narendramodi</a> &amp; FM <a href="https://twitter.com/arunjaitley?ref_src=twsrc%5Etfw">@arunjaitley</a> for presenting a visionary and futuristic budget which will provide an impetus to creation of a <a href="https://twitter.com/hashtag/NewIndia?src=hash&amp;ref_src=twsrc%5Etfw">#NewIndia</a>. It touches the chord of each and every section of society - farmers, salaried taxpayers, senior citizens &amp; the poor. <a href="https://twitter.com/hashtag/Budget2018?src=hash&amp;ref_src=twsrc%5Etfw">#Budget2018</a>
&mdash; ShivrajSingh Chouhan (@ChouhanShivraj) <a href="https://twitter.com/ChouhanShivraj/status/958975108789420032?ref_src=twsrc%5Etfw">February 1, 2018</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">&times;</a></div>

Madhya Pradesh CM Shivraj Singh Chouhan said the 2018 Budget provides a big relief to salaried taxpayers. &ldquo;Standard deduction is back after more than a decade. It will provide a significant thrust to consumption &amp; result in an increase in economic growth. Great initiative by FM @arunjaitley! #NewIndia,&rdquo; he wrote on Twitter.

Sadhguru Jaggi Vasudev too praised the budget. &ldquo;Immensely Inclusive Budget. Hope for the distressed farmer and poor populations. Congratulations to #FinanceMinister for Inclusive and Progressive tilt. -Sg #Budget2018 @arunjaitley,&rdquo; he tweeted.

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-lang="en">
Immensely Inclusive Budget. Hope for the distressed farmer and poor populations. Congratulations to <a href="https://twitter.com/hashtag/FinanceMinister?src=hash&amp;ref_src=twsrc%5Etfw">#FinanceMinister</a> for Inclusive and Progressive tilt. -Sg <a href="https://twitter.com/hashtag/Budget2018?src=hash&amp;ref_src=twsrc%5Etfw">#Budget2018</a> <a href="https://twitter.com/arunjaitley?ref_src=twsrc%5Etfw">@arunjaitley</a>
&mdash; Sadhguru (@SadhguruJV) <a href="https://twitter.com/SadhguruJV/status/958971675915141120?ref_src=twsrc%5Etfw">February 1, 2018</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">&times;</a></div>

&nbsp;

The Opposition Congress came down heavily on Finance Minister Arun Jaitley as soon he presented the Union Budget 201.

While the principal Opposition party Congress on Thursday described the Union Budget 2015 presented by Finance Minister Arun Jaitley as mere "lip service", and criticised the finance minister for 'failing' in fiscal consolidation, Prime Minister Narendra Modi was all praise for the Union Budget 2018. “The govt has attempted to pay lip service to farmers and to other marginalised sections of society but it is a classic case of too less and completely at the inappropriate time,” Congress leader Manish Tewari said. Also read: Top takeaways from Union Budget 2018 Also read: Key highlights of Budget 2018 Also read: Full text of Finance Minister Arun Jaitley's speech to Parliament Former Finance Minister and Congress leader P Chidambaram hit out at Jaitley and said that the Union Minister failed fiscal consolidation test. “Jaitley fails fiscal consolidation test, this failure will have serious consequences,” Chidambaram said. RJD leader Tejaswi Yadav criticised the Budget on Twitter. “Modi sarkaar ne dharaatal par kuch nahi kia aur na hi kar rahi. Sarkar sirf kaghazon par baaton ke pakore aur jumlon ke bataashe utaar rahi hai (The government has done nothing on the ground. They are just creating policies on paper),” he wrote on Twitter. मोदी सरकार ने धरातल पर कुछ नहीं किया और ना ही कर रही। सरकार सिर्फ़ कागज़ों पर बातों के पकौड़े और जुमलों के बताशे उतार रही है। #Budget2018 — Tejashwi Yadav (@yadavtejashwi) February 1, 2018 × Kudos to PM @narendramodi & FM @arunjaitley for presenting a visionary and futuristic budget which will provide an impetus to creation of a #NewIndia. It touches the chord of each and every section of society - farmers, salaried taxpayers, senior citizens & the poor. #Budget2018 — ShivrajSingh Chouhan (@ChouhanShivraj) February 1, 2018 × Madhya Pradesh CM Shivraj Singh Chouhan said the 2018 Budget provides a big relief to salaried taxpayers. “Standard deduction is back after more than a decade. It will provide a significant thrust to consumption & result in an increase in economic growth. Great initiative by FM @arunjaitley! #NewIndia,” he wrote on Twitter. Sadhguru Jaggi Vasudev too praised the budget. “Immensely Inclusive Budget. Hope for the distressed farmer and poor populations. Congratulations to #FinanceMinister for Inclusive and Progressive tilt. -Sg #Budget2018 @arunjaitley,” he tweeted. Immensely Inclusive Budget. Hope for the distressed farmer and poor populations. Congratulations to #FinanceMinister for Inclusive and Progressive tilt. -Sg #Budget2018 @arunjaitley — Sadhguru (@SadhguruJV) February 1, 2018 ×

Budget 2018 reactions: Here's who said what

Union Finance Minister Arun Jaitley on Thursday announced to make no changes in the personal income-tax slabs.

&quot;Govt has made many positive changes in the personal income tax rates applicable to individuals in the last three years therefore I do not wish to make any changes to this,&quot; he said.

Jaitley said that there will be a standard deduction of Rs 40,000 under transport, medical reimbursement for the salaried class.

The facility has been extended to pensioners also.

However, for the senior citizens, the exemption of interest income on bank deposits has been raised to Rs 50,000.

During his budget speech, Jaitley informed that the number of effective tax-payers has gone up from 6.47 crore in 2014-15 to 8.27 crore in 2016-17.

He also projected the fiscal deficit for 2018-19 at 3.3% of GDP.

&quot;The fiscal deficit for 2017-18 was Rs 5.95 lakh crore, that is, 3.5% of GDP. I project it at 3.3% of GDP in 2018-19.&quot;

Thi is the last full budget of the ruling NDA government.

The facility has been extended to pensioners also.

Union Finance Minister Arun Jaitley on Thursday announced to make no changes in the personal income-tax slabs. "Govt has made many positive changes in the personal income tax rates applicable to individuals in the last three years therefore I do not wish to make any changes to this," he said. Jaitley said that there will be a standard deduction of Rs 40,000 under transport, medical reimbursement for the salaried class. The facility has been extended to pensioners also. However, for the senior citizens, the exemption of interest income on bank deposits has been raised to Rs 50,000. During his budget speech, Jaitley informed that the number of effective tax-payers has gone up from 6.47 crore in 2014-15 to 8.27 crore in 2016-17. He also projected the fiscal deficit for 2018-19 at 3.3% of GDP. "The fiscal deficit for 2017-18 was Rs 5.95 lakh crore, that is, 3.5% of GDP. I project it at 3.3% of GDP in 2018-19." Thi is the last full budget of the ruling NDA government.

Budget 2018: Finance Minister Arun Jaitley announces 'no change' in personal income tax slabs

Union Finance Minister Arun Jaitley on Thursday announced Operation Green for promoting farmer produce organisations.

While announcing<a href="http://www.wionews.com/business-economy/budget-2018-finance-minister-arun-jaitley-announces-no-change-in-personal-income-tax-slabs-31449"> the Budget, 2018</a>, Jaitley allocated Rs 500 crore for the same.&nbsp;

He also allotted Rs 2,000 crore to improve the<a href="http://www.wionews.com/business-economy/budget-2018-what-jaitley-announced-for-farmers-agricultural-sector-31429"> agriculture sector.&nbsp;</a>

&quot;Agri-Market Development Fund with a corpus of 2000 crore to be set up for developing agricultural markets,&quot; Jaitley said.&nbsp;

Jaitley said their focus is on low-cost farming and higher MSP.&nbsp;

He said their government&#39;s aim is to generate farm and non-farm employment for farmers.&nbsp;

Also read:&nbsp;<a href="http://www.wionews.com/business-economy/india-on-course-to-grow-at-8-jaitley-31428">Budget 2018: India on course to grow at 8%, says Jaitley</a>

Operation Green will help promote farmer produce organisations

Union Finance Minister Arun Jaitley on Thursday announced Operation Green for promoting farmer produce organisations. While announcing the Budget, 2018, Jaitley allocated Rs 500 crore for the same. He also allotted Rs 2,000 crore to improve the agriculture sector. "Agri-Market Development Fund with a corpus of 2000 crore to be set up for developing agricultural markets," Jaitley said. Jaitley said their focus is on low-cost farming and higher MSP. He said their government's aim is to generate farm and non-farm employment for farmers. Also read: Budget 2018: India on course to grow at 8%, says Jaitley

Budget 2018: Government to launch 'Operation Green', allots Rs 500 crore  

Union Finance Minister Arun Jaitley on Thursday announced to expand the government&#39;s UDAN Scheme, which was started with the objective to &quot;let the common citizen of the country fly.&quot;

While announcing the last<a href="http://www.wionews.com/business-economy/budget-2018-finance-minister-arun-jaitley-announces-no-change-in-personal-income-tax-slabs-31449"> full budget of NDA</a> government, Jaitley said that the scheme will connect 56 unserved airports and 31 unserved helipads.

<a href="http://www.wionews.com/business-economy/live-union-budget-2018-finance-minister-arun-jaitley-presents-budget-in-parliament-31380">Watch Live: Finance Minister Arun Jaitley&#39;s Budget speech</a>

Jaitley continued saying the Airports Authority of India which now has 124 airports will be expanded by 5 times.

The decision is aimed to reach the target of 1 billion trips a year.

<a href="http://www.wionews.com/business-economy/budget-2018-what-jaitley-announced-for-farmers-agricultural-sector-31429">The government</a> has awarded selected routes under its regional connectivity scheme in two rounds of bidding.

<a href="http://www.wionews.com/business-economy/budget-2018-finance-minister-arun-jaitley-focuses-on-agriculture-allocates-1434-trillion-rupees-for-rural-infrastructure-31441">Also Read: Jaitley focuses on agriculture, allocates 14.34 trillion rupees for rural infrastructure</a>

While a total of 128 routes were granted to five carriers in the first round that concluded in March last year, 325 routes were given to 15 airlines and helicopter operators in the second round earlier this month.

The scheme envisages making flying affordable for the masses by capping fares at Rs 2,500 per hour of flight on a fixed-wing aircraft and the same amount for a 30-minute flight on a helicopter.

Also read:&nbsp;<a href="http://www.wionews.com/business-economy/budget-2018-free-lpg-connection-scheme-to-cover-8-crore-poor-women-says-jaitley-31438">Budget 2018: Free LPG connection scheme to cover 8 crore poor women, says Jaitley</a>

While announcing the last full budget of NDA government, Jaitley said that the scheme will connect 56 unserved airports and 31 unserved helipads.

Union Finance Minister Arun Jaitley on Thursday announced to expand the government's UDAN Scheme, which was started with the objective to "let the common citizen of the country fly." While announcing the last full budget of NDA government, Jaitley said that the scheme will connect 56 unserved airports and 31 unserved helipads. Watch Live: Finance Minister Arun Jaitley's Budget speech Jaitley continued saying the Airports Authority of India which now has 124 airports will be expanded by 5 times. The decision is aimed to reach the target of 1 billion trips a year. The government has awarded selected routes under its regional connectivity scheme in two rounds of bidding. Also Read: Jaitley focuses on agriculture, allocates 14.34 trillion rupees for rural infrastructure While a total of 128 routes were granted to five carriers in the first round that concluded in March last year, 325 routes were given to 15 airlines and helicopter operators in the second round earlier this month. The scheme envisages making flying affordable for the masses by capping fares at Rs 2,500 per hour of flight on a fixed-wing aircraft and the same amount for a 30-minute flight on a helicopter. Also read: Budget 2018: Free LPG connection scheme to cover 8 crore poor women, says Jaitley

'Hawai chappal to Hawai safar': Govt expands scope of UDAN scheme in Budget 2018

Union Finance Minister Arun Jaitley on Thursday announced to increase the number of women getting free LPG connections under the Pradhan Mantri Ujjwala Yojana.

While announcing <a href="http://www.wionews.com/business-economy/budget-2018-finance-minister-arun-jaitley-announces-no-change-in-personal-income-tax-slabs-31449">the Budget 2018</a>, Jaitley said the scheme will now cover 8 crore poor women.

&quot;<a href="http://www.wionews.com/business-economy/budget-2018-what-jaitley-announced-for-farmers-agricultural-sector-31429">Govt proposes</a> to increase the target of providing free LPG connections to 8 crore to poor women.&quot;

The number was earlier 5 crore.

Also read:&nbsp;<a href="http://www.wionews.com/business-economy/budget-2018-what-jaitley-announced-for-farmers-agricultural-sector-31429">Budget 2018: What Jaitley announced for farmers, agricultural sector</a>

Pradhan Mantri Ujjwala Yojana is a scheme of the Ministry of Petroleum &amp; Natural Gas for providing LPG connections to women from Below Poverty Line (BPL) households.

Meanwhile, the government also plans to construct 2 crore more toilets under the Swachh Bharat Mission.

So far the government has been able to build 6 crore and plans to be 2 crore more toilets.

This budget is considered an aim to establish direct connect with the rural people.

Also read:&nbsp;<a href="http://www.wionews.com/business-economy/budget-2018-government-does-not-consider-cryptocurrencies-legal-tender-says-jaitley-31443">Budget 2018: Government does not consider cryptocurrencies legal tender, says Jaitley</a>

&nbsp;

&nbsp;

Pradhan Mantri Ujjwala Yojana is a scheme of the Ministry of Petroleum & Natural Gas for providing LPG connections to women from Below Poverty Line (BPL) households.

Union Finance Minister Arun Jaitley on Thursday announced to increase the number of women getting free LPG connections under the Pradhan Mantri Ujjwala Yojana. While announcing the Budget 2018, Jaitley said the scheme will now cover 8 crore poor women. "Govt proposes to increase the target of providing free LPG connections to 8 crore to poor women." The number was earlier 5 crore. Also read: Budget 2018: What Jaitley announced for farmers, agricultural sector Pradhan Mantri Ujjwala Yojana is a scheme of the Ministry of Petroleum & Natural Gas for providing LPG connections to women from Below Poverty Line (BPL) households. Meanwhile, the government also plans to construct 2 crore more toilets under the Swachh Bharat Mission. So far the government has been able to build 6 crore and plans to be 2 crore more toilets. This budget is considered an aim to establish direct connect with the rural people. Also read: Budget 2018: Government does not consider cryptocurrencies legal tender, says Jaitley

Budget 2018: Free LPG connection scheme to cover 8 crore poor women, says Jaitley

Finance Minister Arun Jaitley promised 70 lakh formal jobs in 2018-19 while presenting the annual Budget Thursday.&nbsp;

The lack of jobs has been one of the harshest -- if not the harshest -- criticism against the current NDA government.&nbsp;

<a href="http://www.wionews.com/business-economy/live-union-budget-2018-finance-minister-arun-jaitley-presents-budget-in-parliament-31380">Watch Live: Finance Minister Arun Jaitley&#39;s Budget speech</a>

Experts say the number of new jobs needed every month is a million jobs a month.&nbsp;

The experts add that the double whammy of demonetisation and GST led to a massive cutting of jobs, especially in the informal sector.&nbsp;

Also read:&nbsp;<a href="http://www.wionews.com/business-economy/budget-2018-what-jaitley-announced-for-farmers-agricultural-sector-31429">Budget 2018: What Jaitley announced for farmers, agricultural sector</a>

Also read:&nbsp;<a href="http://www.wionews.com/business-economy/budget-2018-free-lpg-connection-scheme-to-cover-8-crore-poor-women-says-jaitley-31438">Budget 2018: Free LPG connection scheme to cover 8 crore poor women, says Jaitley</a>

The lack of jobs has been one of the harshest -- if not the harshest -- criticism against the current NDA government

Finance Minister Arun Jaitley promised 70 lakh formal jobs in 2018-19 while presenting the annual Budget Thursday. The lack of jobs has been one of the harshest -- if not the harshest -- criticism against the current NDA government. Watch Live: Finance Minister Arun Jaitley's Budget speech Experts say the number of new jobs needed every month is a million jobs a month. The experts add that the double whammy of demonetisation and GST led to a massive cutting of jobs, especially in the informal sector. Also read: Budget 2018: What Jaitley announced for farmers, agricultural sector Also read: Budget 2018: Free LPG connection scheme to cover 8 crore poor women, says Jaitley

Budget 2018: Jaitley promises 70 lakh new formal jobs in 2018-19

Finance Minister Arun Jaitley today said that the government has decided to increase the minimum support price (MSP) by 1.5 times the production cost for kharif crops.

&quot;This is an important step towards doubling the farmers&#39; income by 2022 - a key resolve of our government. As we have pointed out, increasing production is fine. The problem is getting farmers 50% profit margin on top of production costs,&quot; Jaitley said while presenting the <a href="http://www.wionews.com/business-economy/budget-2018-finance-minister-arun-jaitley-announces-no-change-in-personal-income-tax-slabs-31449">Union Budget in Lok Sabha</a>.

Prime Minister Narendra Modi gave clarion call to double farmers&#39; income by 2022 and we are committed to achieve that. Our emphasis is on generating higher income for farmers, he added.

&quot;An agri-market development fund will also be set up with a corpus of Rs 2000 crore for developing agricultural markets,&quot; the Finance Minister said.

<a href="http://www.wionews.com/business-economy/budget-2018-railway-stations-trains-to-have-cctvs-wi-fi-says-arun-jaitley-31448">Government proposes</a> to launch &#39;Operation Greens&#39; on the lines of &#39;Operation Flood&#39;, he said adding that the farm production is at record high.

President Ram Nath Kovind, while addressing both houses of the Parliament on first day of the Budget session on Monday, had said that resolving farmers&#39; problems and raising their standard of living remains government&#39;s top priority.

Farm incomes have fallen because of the rising cost of production while crop prices have not risen, presenting a potential risk to BJP in the upcoming elections after it barely won re-election in his home state of Gujarat last month.

Also&nbsp;read:&nbsp;<a href="http://www.wionews.com/business-economy/budget-2018-free-lpg-connection-scheme-to-cover-8-crore-poor-women-says-jaitley-31438">Budget 2018: Free LPG connection scheme to cover 8 crore poor women, says Jaitley</a>

&nbsp;

Government proposes to launch 'Operation Greens' on the lines of 'Operation Flood', Jaitley said.

Finance Minister Arun Jaitley today said that the government has decided to increase the minimum support price (MSP) by 1.5 times the production cost for kharif crops. "This is an important step towards doubling the farmers' income by 2022 - a key resolve of our government. As we have pointed out, increasing production is fine. The problem is getting farmers 50% profit margin on top of production costs," Jaitley said while presenting the Union Budget in Lok Sabha. Prime Minister Narendra Modi gave clarion call to double farmers' income by 2022 and we are committed to achieve that. Our emphasis is on generating higher income for farmers, he added. "An agri-market development fund will also be set up with a corpus of Rs 2000 crore for developing agricultural markets," the Finance Minister said. Government proposes to launch 'Operation Greens' on the lines of 'Operation Flood', he said adding that the farm production is at record high. President Ram Nath Kovind, while addressing both houses of the Parliament on first day of the Budget session on Monday, had said that resolving farmers' problems and raising their standard of living remains government's top priority. Farm incomes have fallen because of the rising cost of production while crop prices have not risen, presenting a potential risk to BJP in the upcoming elections after it barely won re-election in his home state of Gujarat last month. Also read: Budget 2018: Free LPG connection scheme to cover 8 crore poor women, says Jaitley

Budget 2018: What Jaitley announced for farmers, agricultural sector

Farmers, especially the small and marginal ones, have much to cheer about, in Finance Minister Arun Jaitley&#39;s Union Budget. The government seems to have taken note of the signs of distress in the rural economy and the budget has a slew of measures to address some pressing concerns.

As Arun Jaitley rose for his budget speech to thumping desks from the treasury benches in the Lok Sabha, he espoused the key achievements of his government but soon hit his straps as he rolled out the benefits for the <a href="http://www.wionews.com/business-economy/budget-2018-what-jaitley-announced-for-farmers-agricultural-sector-31429">rural and agriculture sectors</a>.

Reiterating the government&rsquo;s commitment to farmers, the finance minister said minimum support prices for Kharif crops will be one and a half times of the cost of production: &ldquo;If prices are lower than MSP then the government has to ensure there are ways to make sure the farmers receive necessary MSP or an apt price for their products.&nbsp; It is not important to increase the minimum support prices on crops, the farmers should get the benefits of that MSP.&rdquo;

The prime minster has repeatedly stressed on his government&rsquo;s focus on doubling farmers&rsquo; incomes by 2020, and the finance minister announced measures that will help achieve that target. The government will spend 14,34,000 crore rupees (14.34 trillion) in 2018-19 on creating rural infrastructure.

Here are some of the key measures announced:

&bull;&nbsp;&nbsp; &nbsp;The government plans to set up an agricultural market fund with corpus of&nbsp; Rs 2,000 crore 
&bull;&nbsp;&nbsp; &nbsp;Allocation in food processing sector is being doubled from 750 crore last year to 1400 crore in 2018-19. 
&bull;&nbsp;&nbsp; &nbsp;Government proposes to launch Operation Green for which a sum of Rs 500 crore will be allocated. &nbsp; 
&bull;&nbsp;&nbsp; &nbsp;State of art facility will be set up in 42 food parks for agri exports 
&bull;&nbsp;&nbsp; &nbsp;Extending kisan credit card to fisheries and animal husbandry farmers and allocate Rs 10,000 crore for fisheries &amp; aquaculture, animal husbandry funds. &nbsp;

The Finance Minister also said: &ldquo;Ground water irrigation scheme under Krishi Sinchayi Yojana will be taken up in regions where less than 30% land gets assured irrigation currently. Our focus will be get more and more land under irrigation facilities.&rdquo;

The measures announce indicate that the government has clearly aimed at putting a smile on farmers&rsquo; faces while aiming for faster growth.

Also read:&nbsp;<a href="http://www.wionews.com/business-economy/hawai-chappal-to-hawai-safar-govt-expands-scope-udan-scheme-in-budget-2018-31444">&#39;Hawai chappal to Hawai&nbsp;</a><a href="http://www.wionews.com/business-economy/hawai-chappal-to-hawai-safar-govt-expands-scope-udan-scheme-in-budget-2018-31444">safar</a><a href="http://www.wionews.com/business-economy/hawai-chappal-to-hawai-safar-govt-expands-scope-udan-scheme-in-budget-2018-31444">&#39;: Govt expands scope UDAN scheme in Budget 2018</a>

Also&nbsp;read:&nbsp;<a href="http://www.wionews.com/business-economy/budget-2018-free-lpg-connection-scheme-to-cover-8-crore-poor-women-says-jaitley-31438">Budget 2018: Free LPG connection scheme to cover 8 crore poor women, says Jaitley</a>

&nbsp;

Reiterating the government’s commitment to farmers, the finance minister said minimum support prices for Kharif crops will be one and a half times of the cost of production.

Farmers, especially the small and marginal ones, have much to cheer about, in Finance Minister Arun Jaitley's Union Budget. The government seems to have taken note of the signs of distress in the rural economy and the budget has a slew of measures to address some pressing concerns. As Arun Jaitley rose for his budget speech to thumping desks from the treasury benches in the Lok Sabha, he espoused the key achievements of his government but soon hit his straps as he rolled out the benefits for the rural and agriculture sectors. Reiterating the government’s commitment to farmers, the finance minister said minimum support prices for Kharif crops will be one and a half times of the cost of production: “If prices are lower than MSP then the government has to ensure there are ways to make sure the farmers receive necessary MSP or an apt price for their products. It is not important to increase the minimum support prices on crops, the farmers should get the benefits of that MSP.” The prime minster has repeatedly stressed on his government’s focus on doubling farmers’ incomes by 2020, and the finance minister announced measures that will help achieve that target. The government will spend 14,34,000 crore rupees (14.34 trillion) in 2018-19 on creating rural infrastructure. Here are some of the key measures announced: • The government plans to set up an agricultural market fund with corpus of Rs 2,000 crore • Allocation in food processing sector is being doubled from 750 crore last year to 1400 crore in 2018-19. • Government proposes to launch Operation Green for which a sum of Rs 500 crore will be allocated. • State of art facility will be set up in 42 food parks for agri exports • Extending kisan credit card to fisheries and animal husbandry farmers and allocate Rs 10,000 crore for fisheries & aquaculture, animal husbandry funds. The Finance Minister also said: “Ground water irrigation scheme under Krishi Sinchayi Yojana will be taken up in regions where less than 30% land gets assured irrigation currently. Our focus will be get more and more land under irrigation facilities.” The measures announce indicate that the government has clearly aimed at putting a smile on farmers’ faces while aiming for faster growth. Also read: 'Hawai chappal to Hawai safar': Govt expands scope UDAN scheme in Budget 2018 Also read: Budget 2018: Free LPG connection scheme to cover 8 crore poor women, says Jaitley

Budget 2018: Finance Minister Arun Jaitley focuses on agriculture, allocates 14.34 trillion rupees for rural infrastructure

With an aim to reduce the tragic incidents at railways stations and inside trains, <a href="http://www.wionews.com/business-economy/live-union-budget-2018-finance-minister-arun-jaitley-presents-budget-in-parliament-31380">Union Finance Minister Arun Jaitley</a> proposed that all railways stations and trains will have Wi-Fi and CCTVs progressively.

While addressing the last full budget of NDA government, Jaitley said that all railways stations with more than 25,000 footfall to have escalators, a move which may eliminate unmanned railway crossings.

<a href="http://www.wionews.com/business-economy/live-union-budget-2018-finance-minister-arun-jaitley-presents-budget-in-parliament-31380">Watch Live: Finance Minister&#39;s Budget speech</a>

The decision refers to the infamous Elphinstone station stampede in Mumbai which killed over 22 people and injured over 30 people.

Meanwhile, the Mumbai suburban have been allocated additional Rs 11,000 crore for doubling of the tracks on an additional 90 km stretch.

Jaitley also announced that redevelopment of 600 major railway stations has been taken up to avoid any unfortunate mishappening.

&quot;Redevelopment of 600 major railway stations has been taken up; Mumbai transport system is being expanded; suburban network of 160 km planned for Bengaluru.&quot;

During his Budget speech, the finance minister informed that an institute will be coming up in Gujarat&#39;s Vadodara to train the manpower required for the high speed bullet train railway projects.

The foundation stone of the bullet train was laid last year in September 2017.

Also read:&nbsp;<a href="http://www.wionews.com/business-economy/budget-2018-free-lpg-connection-scheme-to-cover-8-crore-poor-women-says-jaitley-31438">Budget 2018: Free LPG connection scheme to cover 8 crore poor women, says Jaitley</a>

Also read:&nbsp;<a href="http://www.wionews.com/business-economy/india-on-course-to-grow-at-8-jaitley-31428">Budget 2018: India on course to grow at 8%, says Jaitley</a>

The Mumbai suburban have been allocated additional Rs 11,000 crore for doubling of the tracks on an additional 90 km stretch.

With an aim to reduce the tragic incidents at railways stations and inside trains, Union Finance Minister Arun Jaitley proposed that all railways stations and trains will have Wi-Fi and CCTVs progressively. While addressing the last full budget of NDA government, Jaitley said that all railways stations with more than 25,000 footfall to have escalators, a move which may eliminate unmanned railway crossings. Watch Live: Finance Minister's Budget speech The decision refers to the infamous Elphinstone station stampede in Mumbai which killed over 22 people and injured over 30 people. Meanwhile, the Mumbai suburban have been allocated additional Rs 11,000 crore for doubling of the tracks on an additional 90 km stretch. Jaitley also announced that redevelopment of 600 major railway stations has been taken up to avoid any unfortunate mishappening. "Redevelopment of 600 major railway stations has been taken up; Mumbai transport system is being expanded; suburban network of 160 km planned for Bengaluru." During his Budget speech, the finance minister informed that an institute will be coming up in Gujarat's Vadodara to train the manpower required for the high speed bullet train railway projects. The foundation stone of the bullet train was laid last year in September 2017. Also read: Budget 2018: Free LPG connection scheme to cover 8 crore poor women, says Jaitley Also read: Budget 2018: India on course to grow at 8%, says Jaitley

Budget 2018: All railway stations, trains to have CCTVs, Wi-Fi, says Arun Jaitley

Union Finance Minister Arun Jaitley&nbsp;said Thursday while presenting <a href="http://www.wionews.com/business-economy/budget-2018-jaitley-promises-70-lakh-new-formal-jobs-in-2018-19-31446">the annual Budget that India</a> had gone from being among the world&#39;s fragile five economies to the fastest growing five since the National Democratic Alliance (NDA) government took over in 2014.&nbsp;&nbsp;

&quot;When we took over, India was considered one of the fragile five. We have successfully reversed this, India is now among the fastest growing economies in the world,&quot; Jaitley said.&nbsp;

This will be the last full year Budget of the Narendra Modi government before elections in 2019 and agriculture is expected to be a major focus area.&nbsp;

Jaitley is expected to give impetus in the Budget to the<a href="http://www.wionews.com/business-economy/budget-2018-what-jaitley-announced-for-farmers-agricultural-sector-31429"> farm sector</a> by providing bigger allocations for food subsidies to widen MSP-based intervention.

Schemes to pay the difference between MSP and market price to farmers, nationwide loan waiver for farmers and bigger allocations for the farm sector to improve i<a href="http://www.wionews.com/business-economy/budget-2018-railway-stations-trains-to-have-cctvs-wi-fi-says-arun-jaitley-31448">nfrastructure are other decisions </a>expected in the Budget.

Also read:&nbsp;<a href="http://www.wionews.com/business-economy/budget-2018-government-to-launch-operation-green-allots-rs-500-crore-31437">Budget 2018: Government to launch &#39;Operation Green&#39;, allots Rs 500 crore</a>

Also read:&nbsp;<a href="http://www.wionews.com/business-economy/budget-2018-free-lpg-connection-scheme-to-cover-8-crore-poor-women-says-jaitley-31438">Budget 2018: Free LPG connection scheme to cover 8 crore poor women, says Jaitley</a>

&nbsp;

'When we took over, India was considered one of the fragile five. We have successfully reversed this, India is now among the fastest growing economies in the world,' Jaitley said

Union Finance Minister Arun Jaitley said Thursday while presenting the annual Budget that India had gone from being among the world's fragile five economies to the fastest growing five since the National Democratic Alliance (NDA) government took over in 2014. "When we took over, India was considered one of the fragile five. We have successfully reversed this, India is now among the fastest growing economies in the world," Jaitley said. This will be the last full year Budget of the Narendra Modi government before elections in 2019 and agriculture is expected to be a major focus area. Jaitley is expected to give impetus in the Budget to the farm sector by providing bigger allocations for food subsidies to widen MSP-based intervention. Schemes to pay the difference between MSP and market price to farmers, nationwide loan waiver for farmers and bigger allocations for the farm sector to improve infrastructure are other decisions expected in the Budget. Also read: Budget 2018: Government to launch 'Operation Green', allots Rs 500 crore Also read: Budget 2018: Free LPG connection scheme to cover 8 crore poor women, says Jaitley

Budget 2018: India went from fragile five economies to fastest-growing five, says Jaitley

Union Finance Minister <a href="http://www.wionews.com/business-economy/live-union-budget-2018-finance-minister-arun-jaitley-presents-budget-in-parliament-31380">Arun Jaitley said</a> Thursday that India is on course to achieve its highest growth rate.

Jaitley, who is presenting the last full budget of the NDA government before elections in 2019, said the economy will grow at 7.2-7.5% in second half of 2018-19.

&quot;Indian economy is on course to achieve high growth of 8 %. Economy to grow at 7.2-7.5% in second half of 2018-19,&quot; Jaitley said.

He further said that Indian economy has performed very well since the NDA government took over in May 2014.

Jaitley added that India now the seventh-largest <a href="http://www.wionews.com/business-economy/budget-2018-government-does-not-consider-cryptocurrencies-legal-tender-says-jaitley-31443">economy in the world.</a>

&nbsp;Budget 2018 is likely to give impetus to the farm sector by providing bigger allocations for food subsidy to widen MSP-based intervention.

Schemes to pay the&nbsp;difference between MSP and market price to farmers, nationwide loan waiver for farmers and bigger allocations for the farm sector to <a href="http://www.wionews.com/business-economy/india-on-course-to-grow-at-8-jaitley-31428">improve infrastructure</a> are other decisions expected in the Budget.

Also read:&nbsp;<a href="http://www.wionews.com/business-economy/hawai-chappal-to-hawai-safar-govt-expands-scope-udan-scheme-in-budget-2018-31444">&#39;Hawai chappal to Hawai&nbsp;</a><a href="http://www.wionews.com/business-economy/hawai-chappal-to-hawai-safar-govt-expands-scope-udan-scheme-in-budget-2018-31444">safar</a><a href="http://www.wionews.com/business-economy/hawai-chappal-to-hawai-safar-govt-expands-scope-udan-scheme-in-budget-2018-31444">&#39;: Govt expands scope UDAN scheme in Budget 2018</a>

Also&nbsp;read:&nbsp;<a href="http://www.wionews.com/business-economy/budget-2018-free-lpg-connection-scheme-to-cover-8-crore-poor-women-says-jaitley-31438">Budget 2018: Free LPG connection scheme to cover 8 crore poor women, says Jaitley</a>

&nbsp;

&nbsp;

'Indian economy is on course to achieve high growth of 8 %. Economy to grow at 7.2-7.5% in second half of 2018-19,' Jaitley said

Union Finance Minister Arun Jaitley said Thursday that India is on course to achieve its highest growth rate. Jaitley, who is presenting the last full budget of the NDA government before elections in 2019, said the economy will grow at 7.2-7.5% in second half of 2018-19. "Indian economy is on course to achieve high growth of 8 %. Economy to grow at 7.2-7.5% in second half of 2018-19," Jaitley said. He further said that Indian economy has performed very well since the NDA government took over in May 2014. Jaitley added that India now the seventh-largest economy in the world. Budget 2018 is likely to give impetus to the farm sector by providing bigger allocations for food subsidy to widen MSP-based intervention. Schemes to pay the difference between MSP and market price to farmers, nationwide loan waiver for farmers and bigger allocations for the farm sector to improve infrastructure are other decisions expected in the Budget. Also read: 'Hawai chappal to Hawai safar': Govt expands scope UDAN scheme in Budget 2018 Also read: Budget 2018: Free LPG connection scheme to cover 8 crore poor women, says Jaitley

Budget 2018: India on course to grow at 8%, says Jaitley

Finance minister<a href="http://www.wionews.com/business-economy/india-on-course-to-grow-at-8-jaitley-31428"> Arun Jaitley said</a> Thursday that the government of India does not consider cryptocurrencies as legal tender.

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-lang="en">
Will take all steps to eliminate the use of Crypto-Currencies, will encourage Blockchain technology in payment systems: FM Jaitley <a href="https://twitter.com/hashtag/UnionBudget2018?src=hash&amp;ref_src=twsrc%5Etfw">#UnionBudget2018</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/958954655647784960?ref_src=twsrc%5Etfw">February 1, 2018</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">&times;</a></div>

<a href="http://www.wionews.com/business-economy/budget-2018-finance-minister-arun-jaitley-announces-no-change-in-personal-income-tax-slabs-31449">He added</a> that the government would do everything it can to stop cryptocurrencies being used to fund illegitimate transactions.&nbsp;

&quot;Government to take all steps to eliminate use of cryptocurrencies which are being used to fund illegitimate transactions,&quot; said Jaitley.&nbsp;

Jaitley made his statement while announcing the annual <a href="http://www.wionews.com/business-economy/live-union-budget-2018-finance-minister-arun-jaitley-presents-budget-in-parliament-31380">Budget in Parliament.&nbsp;</a>

Cryptocurrencies are virtual currencies like bitcoin.&nbsp;

Also read:&nbsp;<a href="http://www.wionews.com/business-economy/hawai-chappal-to-hawai-safar-govt-expands-scope-udan-scheme-in-budget-2018-31444">&#39;Hawai chappal to Hawai&nbsp;safar</a><a href="http://www.wionews.com/business-economy/hawai-chappal-to-hawai-safar-govt-expands-scope-udan-scheme-in-budget-2018-31444">&#39;: Govt expands scope UDAN scheme in Budget 2018</a>

&nbsp;

The finance minister said the government would do everything it can to stop cryptocurrencies being used to fund illegitimate transactions

Finance minister Arun Jaitley said Thursday that the government of India does not consider cryptocurrencies as legal tender. Will take all steps to eliminate the use of Crypto-Currencies, will encourage Blockchain technology in payment systems: FM Jaitley #UnionBudget2018 — ANI (@ANI) February 1, 2018 × He added that the government would do everything it can to stop cryptocurrencies being used to fund illegitimate transactions. "Government to take all steps to eliminate use of cryptocurrencies which are being used to fund illegitimate transactions," said Jaitley. Jaitley made his statement while announcing the annual Budget in Parliament. Cryptocurrencies are virtual currencies like bitcoin. Also read: 'Hawai chappal to Hawai safar': Govt expands scope UDAN scheme in Budget 2018

Budget 2018: Government does not consider cryptocurrencies legal tender, says Jaitley

The fiscal deficit will overshoot to 3.5 per cent from the earlier estimate of 3.2 per cent in the current fiscal, ending March 31, Finance Minister Arun Jaitley said on Thursday.

The target has been fixed at 3.3 per cent for 2018-19 as against the Fiscal Responsibility and Budget Management Act target of 3 per cent.

<a href="http://www.wionews.com/business-economy/live-union-budget-2018-finance-minister-arun-jaitley-presents-budget-in-parliament-31380">Read: Full Budget Speech of Finance Minister Arun Jaitley</a>

Expressing the government&#39;s commitment to bring down the fiscal deficit, Jaitley said in his Budget speech that he has endeavoured to bring down the fiscal deficit from 4.1 per cent in 2014-15 to 3.9 per cent in the following year and further to 3.5 per cent in 2016-17.

Fiscal deficit has a bearing on sovereign rating of the country as well as the debt market.

<a href="http://www.wionews.com/business-economy/budget-2018-jaitley-promises-70-lakh-new-formal-jobs-in-2018-19-31446">Also Read: Jaitley promises 70 lakh new formal jobs in 2018-19</a>

FRBM Review Panel headed by former Revenue Secretary N K Singh had recommended debt to GDP ratio of 60 per cent by 2023 and fiscal deficit at 3 per cent for next 3 years.

Fiscal deficit has a bearing on sovereign rating of the country as well as the debt market.

The fiscal deficit will overshoot to 3.5 per cent from the earlier estimate of 3.2 per cent in the current fiscal, ending March 31, Finance Minister Arun Jaitley said on Thursday. The target has been fixed at 3.3 per cent for 2018-19 as against the Fiscal Responsibility and Budget Management Act target of 3 per cent. Read: Full Budget Speech of Finance Minister Arun Jaitley Expressing the government's commitment to bring down the fiscal deficit, Jaitley said in his Budget speech that he has endeavoured to bring down the fiscal deficit from 4.1 per cent in 2014-15 to 3.9 per cent in the following year and further to 3.5 per cent in 2016-17. Fiscal deficit has a bearing on sovereign rating of the country as well as the debt market. Also Read: Jaitley promises 70 lakh new formal jobs in 2018-19 FRBM Review Panel headed by former Revenue Secretary N K Singh had recommended debt to GDP ratio of 60 per cent by 2023 and fiscal deficit at 3 per cent for next 3 years.

Budget 2018: Govt misses fiscal deficit target; higher at 3.5% in FY'18

The benchmark BSE Sensex surged 200 points and was traind at 36,152.44 as Finance Minister Arun Jaitley presented the Union Budget in the Lok Sabha.

The 30-share BSE index, which had lost 318.23 points in the previous two sessions, had recovered 171.38 points, ahead of the Budget presentation.

Similarly, the NSE Nifty moved up to 11,086.10.

Fresh positions created by retail and domestic institutional investors on hopes of an investor-friendly and growth-oriented budget lifted the sentiment, brokers said.

Besides, positive leads from other Asian markets, tracking overnight gains on the Wall Street following the Federal Reserve&#39;s decision to keep rates unchanged, influenced sentiments here, they said.

On the macro front, growth of the eight core sectors slowed to a five-month low of 4 per cent in December 2017 due to negative performance of segments like coal and crude oil, official data showed on Wednesday.

In Asian trade, Hong Kong&#39;s Hang Seng was up 0.24 per cent while Japan&#39;s Nikkei edged higher by 1.28 per cent in early trade on Thursday. Shanghai Composite Index, however, shed 0.97 per cent.

The US Dow Jones Industrial Average closed 0.28 per cent higher on Wednesday.

Fresh positions created by retail and domestic institutional investors on hopes of an investor-friendly and growth-oriented budget lifted the sentiment, brokers said.

The benchmark BSE Sensex surged 200 points and was traind at 36,152.44 as Finance Minister Arun Jaitley presented the Union Budget in the Lok Sabha. The 30-share BSE index, which had lost 318.23 points in the previous two sessions, had recovered 171.38 points, ahead of the Budget presentation. Similarly, the NSE Nifty moved up to 11,086.10. Fresh positions created by retail and domestic institutional investors on hopes of an investor-friendly and growth-oriented budget lifted the sentiment, brokers said. Besides, positive leads from other Asian markets, tracking overnight gains on the Wall Street following the Federal Reserve's decision to keep rates unchanged, influenced sentiments here, they said. On the macro front, growth of the eight core sectors slowed to a five-month low of 4 per cent in December 2017 due to negative performance of segments like coal and crude oil, official data showed on Wednesday. In Asian trade, Hong Kong's Hang Seng was up 0.24 per cent while Japan's Nikkei edged higher by 1.28 per cent in early trade on Thursday. Shanghai Composite Index, however, shed 0.97 per cent. The US Dow Jones Industrial Average closed 0.28 per cent higher on Wednesday.

Sensex surges over 200 points as Finance Minister Arun Jaitley presents Budget

India unveiled its budget for the fiscal year starting April 1 on Thursday, in what is being seen as a test for Prime Minister Narendra Modi to maintain fiscal discipline without stifling economic growth ahead of general elections next year.

Also read:&nbsp;<a href="http://www.wionews.com/business-economy/union-budget-2018-full-text-of-finance-minister-arun-jaitleys-speech-to-parliament-31464" target="_blank">Full text of Finance Minister Arun Jaitley&#39;s speech to Parliament</a>

Here are the highlights of the budget for 2018-19 fiscal year.

New Income Tax Slab

Income Tax Slab for people less than 60 years for 2017-18

Income Slabs&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Income tax rate in 2017-18 
Upto Rs. 2,50,000&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Nil 
From Rs 2,50,001- Rs 5,00,000&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;5% 
From Rs.5,00,001- Rs.10,00,000&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;20% 
Above Rs.10,00,000&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;30%

Income Tax Slab for Individuals more than or equal to 60 years but less than 80 years known as Senior Citizens for 2017-18

Income Slabs&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Income Tax Rate for 2017-18 
Upto Rs. 3,00,000&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Nil 
From Rs 3,00,001- Rs 5,00,000&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 5% 
From Rs.5,00,001- Rs.10,00,000&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;20% 
Above Rs.10,00,000&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;30%

Income Tax Slab for Individuals more than or equal to 80 years known as Super Senior Citizens For 2017-18

Income Slabs&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Income Tax Rate for 2017-18

Upto Rs. 5,00,000&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Nil 
From Rs.5,00,001- Rs.10,00,000&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;20% 
Above Rs.10,00,000&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;30%

Fiscal deficit

Targets 2018/19 fiscal deficit at 3.3 percent of GDP, estimates current year at 3.5 percent - Bloomberg citing sources

Growth

Estimates 7.2 to 7.5 percent GDP growth in second half of current fiscal year.

Finance minister says &quot;firmly on path to achieve 8 percent plus growth soon&quot;.

Expenditure

Estimates 1.38 trillion rupees expenditure on health, education and social security.

Railway capital expenditure set at 1.49 trillion rupees for 2018/19.

Infrastructure

To spend 14.34 trillion Indian rupees ($225.50 billion) on rural infrastructure.

Banking/Lending

To soon announce measures to address bad loans of small and medium enterprises.

Proposes setting up 3 trillion rupees plan for lending for small enterprises.

Agriculture

Finance minister says will focus on strengthening rural, agriculture economy.

Sets 10 trillion rupees to 11 trillion rupees credit for &quot;agricultural activities&quot;.

Minimum support price of all crops to be increased to at least 1.5 times of production cost.

Export of agriculture commodities to be liberalised.

Education&nbsp; 
Government to increase digital intensity in education. Technology to be the biggest driver in improving quality of education. Rs. 1 lakh crore allocated to revitalisation and up-gradation of the education sector. By 2022, every block with more than 50 per cent ST population will have Ekalvya schools at par with Navodaya Vidyalaya.&nbsp;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false"><iframe allow="autoplay; encrypted-media" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/MZqJmGVRNa0" width="560"></iframe></div>
<a class="close-mark close-div" href="#" id="jqclosemark">&times;</a></div>

Health/pollution

To provide 500,000 rupees per family annually for medical reimbursement under National Health Protection Scheme. Finance minister says the plan will protect 500 million poor people and will be world&#39;s largest health protection scheme.

To implement special schemes for governments around Delhi to address air pollution.

Removal of crop residue to be subsidized in order to tackle the problem of pollution due to the burning of crop residue.

Aviation

UDAN Scheme to connect 64 unconnected airports across the country. Airport Authority of India (AAI) has 124 airports. Propose to increase the number by at least 5 times 1 billion trips a year, Rs 60 cr has been allocated to kickstart the initiative.

Rail Budget 2018&nbsp;

Finance Minister Arun Jaitley in his Union Budget 2018 speech announced a capital expenditure of Rs 1.48 lakh crore for Indian railways.&nbsp;

According to Jaitley most of this money will be spent on capacity expansion since that is the most important priority for railways right now. There is a target of doubling 18,000 km of lines and gauge conversion is underway to eliminate capacity constraints, FM Jaitley said for Railway Budget 2018.&nbsp;

Highlights of Rail Budget

Focus on safety first, maintenance of track infrastructure is being given special attention.

12,000 wagons, 5160 coaches and 700 locomotives being procured. There are significant achievements of physical targets by Railways.

All stations with more than 25,000 footfall will have escalators.

4267 unmanned railway crossing will be eliminated in next two years. All railway stations and trains will be provided WiFi and CCTVs progressively.

10 prominent tourist sites to be developed as iconic tourist spots.

Redevelopment of 600 major railway stations taken up; Mumbai transport system being expanded; the suburban network of 160 km planned for Bengaluru.

Foundation stone of the bullet train was laid in September 2017. An institute is coming up in Vadodara to train the manpower required for the high-speed railway projects.

Physical targets of Indian Railways is also improving. Work on dedicated freight corridors is on in full-swing &ndash; both east and west &ndash; announced FM Jaitley in the Railway Budget speech.

We have announced plans to set up a dedicated Railway University in Vadodara, said FM Arun Jaitley during his Union Budget 2018 speech.

(With inputs from Agencies)&nbsp;

Finance Minister Arun Jaitley presented the Union Budget 2018 in Parliament today. Continuing with the trend from last year, the Railways Budget was included in the general Budget.

India unveiled its budget for the fiscal year starting April 1 on Thursday, in what is being seen as a test for Prime Minister Narendra Modi to maintain fiscal discipline without stifling economic growth ahead of general elections next year. Also read: Full text of Finance Minister Arun Jaitley's speech to Parliament Here are the highlights of the budget for 2018-19 fiscal year. New Income Tax Slab Income Tax Slab for people less than 60 years for 2017-18 Income Slabs Income tax rate in 2017-18 Upto Rs. 2,50,000 Nil From Rs 2,50,001- Rs 5,00,000 5% From Rs.5,00,001- Rs.10,00,000 20% Above Rs.10,00,000 30% Income Tax Slab for Individuals more than or equal to 60 years but less than 80 years known as Senior Citizens for 2017-18 Income Slabs Income Tax Rate for 2017-18 Upto Rs. 3,00,000 Nil From Rs 3,00,001- Rs 5,00,000 5% From Rs.5,00,001- Rs.10,00,000 20% Above Rs.10,00,000 30% Income Tax Slab for Individuals more than or equal to 80 years known as Super Senior Citizens For 2017-18 Income Slabs Income Tax Rate for 2017-18 Upto Rs. 5,00,000 Nil From Rs.5,00,001- Rs.10,00,000 20% Above Rs.10,00,000 30% Fiscal deficit Targets 2018/19 fiscal deficit at 3.3 percent of GDP, estimates current year at 3.5 percent - Bloomberg citing sources Growth Estimates 7.2 to 7.5 percent GDP growth in second half of current fiscal year. Finance minister says "firmly on path to achieve 8 percent plus growth soon". Expenditure Estimates 1.38 trillion rupees expenditure on health, education and social security. Railway capital expenditure set at 1.49 trillion rupees for 2018/19. Infrastructure To spend 14.34 trillion Indian rupees ($225.50 billion) on rural infrastructure. Banking/Lending To soon announce measures to address bad loans of small and medium enterprises. Proposes setting up 3 trillion rupees plan for lending for small enterprises. Agriculture Finance minister says will focus on strengthening rural, agriculture economy. Sets 10 trillion rupees to 11 trillion rupees credit for "agricultural activities". Minimum support price of all crops to be increased to at least 1.5 times of production cost. Export of agriculture commodities to be liberalised. Education Government to increase digital intensity in education. Technology to be the biggest driver in improving quality of education. Rs. 1 lakh crore allocated to revitalisation and up-gradation of the education sector. By 2022, every block with more than 50 per cent ST population will have Ekalvya schools at par with Navodaya Vidyalaya. × Health/pollution To provide 500,000 rupees per family annually for medical reimbursement under National Health Protection Scheme. Finance minister says the plan will protect 500 million poor people and will be world's largest health protection scheme. To implement special schemes for governments around Delhi to address air pollution. Removal of crop residue to be subsidized in order to tackle the problem of pollution due to the burning of crop residue. Aviation UDAN Scheme to connect 64 unconnected airports across the country. Airport Authority of India (AAI) has 124 airports. Propose to increase the number by at least 5 times 1 billion trips a year, Rs 60 cr has been allocated to kickstart the initiative. Rail Budget 2018 Finance Minister Arun Jaitley in his Union Budget 2018 speech announced a capital expenditure of Rs 1.48 lakh crore for Indian railways. According to Jaitley most of this money will be spent on capacity expansion since that is the most important priority for railways right now. There is a target of doubling 18,000 km of lines and gauge conversion is underway to eliminate capacity constraints, FM Jaitley said for Railway Budget 2018. Highlights of Rail Budget Focus on safety first, maintenance of track infrastructure is being given special attention. 12,000 wagons, 5160 coaches and 700 locomotives being procured. There are significant achievements of physical targets by Railways. All stations with more than 25,000 footfall will have escalators. 4267 unmanned railway crossing will be eliminated in next two years. All railway stations and trains will be provided WiFi and CCTVs progressively. 10 prominent tourist sites to be developed as iconic tourist spots. Redevelopment of 600 major railway stations taken up; Mumbai transport system being expanded; the suburban network of 160 km planned for Bengaluru. Foundation stone of the bullet train was laid in September 2017. An institute is coming up in Vadodara to train the manpower required for the high-speed railway projects. Physical targets of Indian Railways is also improving. Work on dedicated freight corridors is on in full-swing – both east and west – announced FM Jaitley in the Railway Budget speech. We have announced plans to set up a dedicated Railway University in Vadodara, said FM Arun Jaitley during his Union Budget 2018 speech. (With inputs from Agencies)

Watch: Key highlights of Budget 2018

In the post-Budget meeting, finance minister <a href="http://www.wionews.com/business-economy/healthcare-in-budget-india-lags-behind-us-china-in-doctor-patient-ratio-31515">Arun Jaitley said it is India&#39;s </a>first Budget post-GST.

On corporate tax, the finance minister asserted that companies are paying less than 25 per cent in corporate tax, saying that out of the 6 lakh companies, 5 lakh, 93 thousand&nbsp;companies have been covered under the tax net. In effect, covering the entire gamut of small and medium companies.

<a href="http://www.wionews.com/business-economy/union-budget-2018-electronic-items-like-television-sets-mobile-phone-to-get-expensive-31469">Also Read: Electronic items like mobile phones, television sets to get expensive&nbsp;</a>

The 7,000 big companies are out of it, he added, saying they won&#39;t always be out of the net since it was part of the roadmap.

The finance minister pointed out that the 7,000 companies actually availed all the exemptions and still payed&nbsp;22 to 23 per cent tax.

The exemptions will gradually be done away with, he said.

He said the services sector is doing well, even though manufacturing was looking weak for a few months.

The weak spot was the agricultural sector, he said. It posed the greatest challenge, the finance minister added.

The finance minister said the Ujjawala Yogana has been successful so increasing the budgetary allocation was needed, adding that his government&#39;s healthcare scheme was the centerpiece of the Budget.

The minister said out of the 25 crore families in India, the bottom 10 crore family which constitute 40 per cent of the population will benefit from the new healthcare plan.

&quot;The poor families will now have an insurance card and can go to any hospital and show their card to avail health benefits,&quot; he said.

&quot;We can make this scheme universal, then the world will have to acknowledge that whether Obamacare became successful or not, &#39;Modicare&#39;&nbsp;can definitely be made successful,&quot; the finance minister said.

On the question of funding of&nbsp;&quot;Modicare&quot;, the minister said it was mainly an operational detail&nbsp;and that it would be funded by the government.

&quot;The healthcare plan is a major step in ensuring social security of the country,&quot; the minister said.

 
<iframe allow="autoplay; encrypted-media" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/j7y7gQhiEiU" width="560"></iframe> 
&nbsp;

&nbsp;

The finance minister said the Ujjawala Yogana has been successful so increasing the budgetary allocation was needed

In the post-Budget meeting, finance minister Arun Jaitley said it is India's first Budget post-GST. On corporate tax, the finance minister asserted that companies are paying less than 25 per cent in corporate tax, saying that out of the 6 lakh companies, 5 lakh, 93 thousand companies have been covered under the tax net. In effect, covering the entire gamut of small and medium companies. Also Read: Electronic items like mobile phones, television sets to get expensive The 7,000 big companies are out of it, he added, saying they won't always be out of the net since it was part of the roadmap. The finance minister pointed out that the 7,000 companies actually availed all the exemptions and still payed 22 to 23 per cent tax. The exemptions will gradually be done away with, he said. He said the services sector is doing well, even though manufacturing was looking weak for a few months. The weak spot was the agricultural sector, he said. It posed the greatest challenge, the finance minister added. The finance minister said the Ujjawala Yogana has been successful so increasing the budgetary allocation was needed, adding that his government's healthcare scheme was the centerpiece of the Budget. The minister said out of the 25 crore families in India, the bottom 10 crore family which constitute 40 per cent of the population will benefit from the new healthcare plan. "The poor families will now have an insurance card and can go to any hospital and show their card to avail health benefits," he said. "We can make this scheme universal, then the world will have to acknowledge that whether Obamacare became successful or not, 'Modicare' can definitely be made successful," the finance minister said. On the question of funding of "Modicare", the minister said it was mainly an operational detail and that it would be funded by the government. "The healthcare plan is a major step in ensuring social security of the country," the minister said.

Don't know about Obamacare but 'Modicare' can definitely become successful: Jaitley

This segment of WION brings to you latest news on India Union Budget for 2018-19. Watch this clip to know more.

Will budget meet expectation of taxpayer?

As the government unveils its 2018-19 budget today, all eyes will be on whether the authorities stay the course on containing the fiscal deficit, or whether they throw caution to the wind with a populist set of spending priorities.

Facing discontent at home over falling farm incomes and a backlash following policy initiatives that have dented growth, Prime Minister Narendra Modi will be aiming to woo rural voters and small business owners in the last full budget before a general election that must be held by May 2019.&nbsp;

While economic growth has been slowed by the botched rollout of a nationwide goods and service tax (GST) in 2017, and a shock move to ban high-value currency notes in late 2016, investors have so far looked beyond the setbacks, perceiving the initiatives as being positive in the long term.&nbsp;

Benchmark 10-year bond yields have fallen 135 basis points and the NSE share index has surged 55 percent since Modi took power in May 2014.

To keep investors on the side, however, Modi will have to convince them that he plans to keep to his word on working towards reining in the fiscal deficit.

A Reuters poll this week showed most economists expect a 3.2 percent deficit in 2018-19, as the government looks to increase investments in areas such as agriculture. Anything much beyond that, however, may draw a swift sell-off in the markets.

Investors were already spooked this week after India&#39;s Chief Economic Advisor Arvind Subramanian, in an economic survey ahead of the budget, suggested &quot;a pause&quot; in the fiscal consolidation path, while the government attempts to reinvigorate growth.

Indian shares fell for a second consecutive session on Wednesday, as investors opted to book profits ahead of the budget, with markets trading near all-time highs.

The benchmark 10-year bond yield closed flat at 7.60 percent on Wednesday, but it is up 13 basis points from its close on Friday after Subramanian`s comments.&nbsp;

Facing discontent over falling farm incomes and a backlash following policy initiatives that have dented growth, Prime Minister Modi will be aiming to woo rural voters and small business owners

As the government unveils its 2018-19 budget today, all eyes will be on whether the authorities stay the course on containing the fiscal deficit, or whether they throw caution to the wind with a populist set of spending priorities. Facing discontent at home over falling farm incomes and a backlash following policy initiatives that have dented growth, Prime Minister Narendra Modi will be aiming to woo rural voters and small business owners in the last full budget before a general election that must be held by May 2019. While economic growth has been slowed by the botched rollout of a nationwide goods and service tax (GST) in 2017, and a shock move to ban high-value currency notes in late 2016, investors have so far looked beyond the setbacks, perceiving the initiatives as being positive in the long term. Benchmark 10-year bond yields have fallen 135 basis points and the NSE share index has surged 55 percent since Modi took power in May 2014. To keep investors on the side, however, Modi will have to convince them that he plans to keep to his word on working towards reining in the fiscal deficit. A Reuters poll this week showed most economists expect a 3.2 percent deficit in 2018-19, as the government looks to increase investments in areas such as agriculture. Anything much beyond that, however, may draw a swift sell-off in the markets. Investors were already spooked this week after India's Chief Economic Advisor Arvind Subramanian, in an economic survey ahead of the budget, suggested "a pause" in the fiscal consolidation path, while the government attempts to reinvigorate growth. Indian shares fell for a second consecutive session on Wednesday, as investors opted to book profits ahead of the budget, with markets trading near all-time highs. The benchmark 10-year bond yield closed flat at 7.60 percent on Wednesday, but it is up 13 basis points from its close on Friday after Subramanian`s comments.

Close watch on fiscal deficit as India unveils Budget today

The last full-fledged budget of the Narendra Modi-led government and the first one after GST rollout is much anticipated. With the day finally arriving today, speculation about Union Budget 2018 is rife across the country.

Various sectors such as e-commerce, health, agriculture, education, Information Technology (IT), and manufacturing among others expect major policy initiatives which will drive growth and support development and expansion.

Here are a few sectors which will most likely benefit from Union Budget 2018:

- Union Budget 2017, the first budget post demonetisation, boosted digital operations and transactions in the country. With the `Digital India` initiative, high on Prime Minister Narendra Modi`s agenda, Union Budget 2018 too, is expected to give a major push to digitization.

- Industry experts also believe that the budget will focus more on the rural distress. Job programs, irrigation projects, and improvement of health infrastructure in rural India is expected to get a push.

- The previous Budgets presented by Finance Minister Arun Jaitley have been all development oriented. One can expect the same from Union Budget 2018 as well. Employment-intensive sectors will most likely be boosted. And since the MSME sector in India plays a crucial role in providing large-scale employment at a comparatively lower capital cost; new schemes and initiatives can be expected.

- In Budget 2018, the government may reportedly also tweak income tax slabs and rates. Multiple deductions might be replaced with a standard deduction to reduce the tax burden on consumers.

- Union Budget 2017 saw the merger of the Railway Budget with the General Budget. Further, Economic Survey 2017-18 stated that during 2017-18 (up to September 2017) the Indian Railways carried 558.10 million tonnes of revenue earning freight traffic as against 531.23 million tonnes during the corresponding period of previous year, showing an increase of 5.06 percent during this period. It is expected that Union Budget 2018 will lay emphasis on railways infrastructure development.

- The Economic Survey 2017-18 focused on the need to address the issues of pendency, delays and backlogs in the appellate and judicial arenas towards Ease of Doing Business. These issues, it said hamper dispute resolution and contract enforcement, discourage investment, stall projects, hamper tax collection, stress taxpayers and escalate legal costs. The survey emphasized the importance of an effective, efficient and expeditious contract enforcement regime for economic growth and development. Budget 2018 is expected to provide a way out.

- Controlling inflation has been a priority area for the Modi-led government. And the government has taken a number of measures for this purpose in the past. From regular review meetings on prices and availability to the implementation of Price Stabilization Fund (PSF), strict measures have been taken to control inflation numbers. Budget 2018 is expected to do just the same.

- The Economic Survey also pointed out that low level of tax collections by the local governments in rural areas is posing a challenge in reconciling fiscal federalism and accountability in the country. Unlike in other countries, reliance on direct taxes in India seems to be declining, a trend that will be reinforced if the Goods and Services Tax (GST) proves to be a buoyant source of revenue. Budget 2018, among other things, will extensively look to stabilise GST in the country.

On a related note, with this budget, Arun Jaitley has joined an elite group of finance ministers who have had the opportunity to present the Union Budget over five times. Yashwant Sinha, P. Chidambaram, and Pranab Mukherjee have all presented the budget five or more times in Parliament. &nbsp;

Industry experts believe the budget will focus on rural distress. Job programmes, irrigation projects, and improvement of health infrastructure in rural India are expected to get a push

The last full-fledged budget of the Narendra Modi-led government and the first one after GST rollout is much anticipated. With the day finally arriving today, speculation about Union Budget 2018 is rife across the country. Various sectors such as e-commerce, health, agriculture, education, Information Technology (IT), and manufacturing among others expect major policy initiatives which will drive growth and support development and expansion. Here are a few sectors which will most likely benefit from Union Budget 2018: - Union Budget 2017, the first budget post demonetisation, boosted digital operations and transactions in the country. With the `Digital India` initiative, high on Prime Minister Narendra Modi`s agenda, Union Budget 2018 too, is expected to give a major push to digitization. - Industry experts also believe that the budget will focus more on the rural distress. Job programs, irrigation projects, and improvement of health infrastructure in rural India is expected to get a push. - The previous Budgets presented by Finance Minister Arun Jaitley have been all development oriented. One can expect the same from Union Budget 2018 as well. Employment-intensive sectors will most likely be boosted. And since the MSME sector in India plays a crucial role in providing large-scale employment at a comparatively lower capital cost; new schemes and initiatives can be expected. - In Budget 2018, the government may reportedly also tweak income tax slabs and rates. Multiple deductions might be replaced with a standard deduction to reduce the tax burden on consumers. - Union Budget 2017 saw the merger of the Railway Budget with the General Budget. Further, Economic Survey 2017-18 stated that during 2017-18 (up to September 2017) the Indian Railways carried 558.10 million tonnes of revenue earning freight traffic as against 531.23 million tonnes during the corresponding period of previous year, showing an increase of 5.06 percent during this period. It is expected that Union Budget 2018 will lay emphasis on railways infrastructure development. - The Economic Survey 2017-18 focused on the need to address the issues of pendency, delays and backlogs in the appellate and judicial arenas towards Ease of Doing Business. These issues, it said hamper dispute resolution and contract enforcement, discourage investment, stall projects, hamper tax collection, stress taxpayers and escalate legal costs. The survey emphasized the importance of an effective, efficient and expeditious contract enforcement regime for economic growth and development. Budget 2018 is expected to provide a way out. - Controlling inflation has been a priority area for the Modi-led government. And the government has taken a number of measures for this purpose in the past. From regular review meetings on prices and availability to the implementation of Price Stabilization Fund (PSF), strict measures have been taken to control inflation numbers. Budget 2018 is expected to do just the same. - The Economic Survey also pointed out that low level of tax collections by the local governments in rural areas is posing a challenge in reconciling fiscal federalism and accountability in the country. Unlike in other countries, reliance on direct taxes in India seems to be declining, a trend that will be reinforced if the Goods and Services Tax (GST) proves to be a buoyant source of revenue. Budget 2018, among other things, will extensively look to stabilise GST in the country. On a related note, with this budget, Arun Jaitley has joined an elite group of finance ministers who have had the opportunity to present the Union Budget over five times. Yashwant Sinha, P. Chidambaram, and Pranab Mukherjee have all presented the budget five or more times in Parliament.

Budget 2018: All eyes on Jaitley's briefcase, here's what to expect

Finance minister <a href="http://www.wionews.com/business-economy/budget-2018-government-to-set-up-worlds-largest-healthcare-programme-says-jaitley-31435">Jaitley today declared while presenting</a> the Budget that the government&nbsp;has set the world&#39;s largest healthcare programme.

In the real terms,<a href="http://www.wionews.com/india-news/industry-leaders-hail-national-healthcare-programme-31508"> India spends Rs 30,000 around $470 per</a>&nbsp;person in below poverty level(BPL) family.

In Jaitley&#39;s Budget this time, the amount has gone upto to Rs 500,000 which is approximately $7830 for a BPL family. The new healtcare plan unveiled in the Budget is expected to benefit 500 million Indians.

There are 132 million Indians already under the health scheme.

Compared to India, in the US a taxpayer spends $7,000 on healthcare with multiple state and federal health insurances present in the system. There is no cap on coverage but it involves complex conditions.

As far as the health of the country is concerned, India still has the highest incidences of tuberculosis in the world. Reports say 4,20,000 Indians died of tuberculosis in 2016.

As a result, India has upped spending on tuberculosis since last year.

The 2018 Budget has not announced any allocation for cancer treatment, even though 1 million new cancer cases are detected every year in India, according to the WHO.

The finance minister will need to revamp&nbsp;761 district hospitals in the country, although the Budget hasn&#39;t announced any hospitals would be built.

The current doctor-patient ratio in northeast and central India is 9.4 to 100,000. In other areas, it is much better at 159 to 100,000 which is about 15.9 doctors for&nbsp;10,000 people.

In the US, the current doctor-patient ratio is 39.8 doctors for 10,000 people.&nbsp;The current budget does not address the doctor-patient ratio in India.

Further, India has just 9 hospital beds per 10,000 for its rural population, far behind the US which has 46 hospital beds and China which has 42 per 10,000 people.

The current doctor-patient ratio in northeast and central India is 9.4 to 100,000.

Finance minister Jaitley today declared while presenting the Budget that the government has set the world's largest healthcare programme. In the real terms, India spends Rs 30,000 around $470 per person in below poverty level(BPL) family. In Jaitley's Budget this time, the amount has gone upto to Rs 500,000 which is approximately $7830 for a BPL family. The new healtcare plan unveiled in the Budget is expected to benefit 500 million Indians. There are 132 million Indians already under the health scheme. Compared to India, in the US a taxpayer spends $7,000 on healthcare with multiple state and federal health insurances present in the system. There is no cap on coverage but it involves complex conditions. As far as the health of the country is concerned, India still has the highest incidences of tuberculosis in the world. Reports say 4,20,000 Indians died of tuberculosis in 2016. As a result, India has upped spending on tuberculosis since last year. The 2018 Budget has not announced any allocation for cancer treatment, even though 1 million new cancer cases are detected every year in India, according to the WHO. The finance minister will need to revamp 761 district hospitals in the country, although the Budget hasn't announced any hospitals would be built. The current doctor-patient ratio in northeast and central India is 9.4 to 100,000. In other areas, it is much better at 159 to 100,000 which is about 15.9 doctors for 10,000 people. In the US, the current doctor-patient ratio is 39.8 doctors for 10,000 people. The current budget does not address the doctor-patient ratio in India. Further, India has just 9 hospital beds per 10,000 for its rural population, far behind the US which has 46 hospital beds and China which has 42 per 10,000 people.

Budget healthcare challenge: India lags behind US, China in doctor-patient ratio

This is arguably Finance Minister's toughest Budget yet as he seeks to address agriculture distress, create jobs and boost growth while at the same time stick to fiscal prudence

Union Finance Minister Arun Jaitley is presenting NDA government's last full-year budget ahead of the general elections next year. Jaitley had earlier tabled the Economic Survey on Monday targeting a 7-7.5 per cent growth in 2018-19. This year's budget session is crucial as it would be the first union budget to be presented under the Goods and Services Tax (GST) regime. All sectors and citizens of the country have high expectations from Jaitley. Here are the key points of Finance Minister Arun Jaitley's speech: No change has been proposed in personal Income Tax slab rates. Standard deduction to the salaried class of INR 40,000 in place of Medical expense reimbursements and Transport allowance. Rs 7.5 lakh per senior citizen limit for investment in interest-bearing LIC schemes doubled to Rs 15 lakh, senior citizens allowed Rs 50,000 deduction on health insurance premium paid in a year from earlier Rs 30,000. Rs 8,000 crore revenue lost due to the standard deduction allowed to salaried employees. Companies with turnover of upto Rs. 250 cr to be taxed at 25%. × Demonetisation was received by honest tax-payers as 'Imaandari ka Utsav'. × 100% tax rebate for farmer producer companies having a turnover of Rs. 100 cr. × Focus on rural housing, rural roads and rural infra spend will push up employment. × Power, LPG via Ujala and Saubhagya remains the area of concern for discoms, OMCs because of lack of recovery. × Government to formulate a comprehensive gold policy to develop gold as an asset class; gold monetisation scheme to be revamped. × MP salaries to be revised with effect from 1 April, 2018. It will increase every 5 years indexed to inflation. × For Year 2018 fiscal deficit at 5.95 lakh crore (3.5% of GDP) as against expected 3.2%.For Year 2019 fiscal deficit pegged at 3.3 of GDP.Govt committed to revised fiscal glide path. × Salary of President raised to Rs 5 lakh.Vice-President salary raised to Rs 4 lakh, Guvs salary raised to Rs 3.5 lakh. × Government sets Rs 80,000 crore disinvestment target for 2018-19. × Govt does not consider cryptocurrency as legal tender or coin and will take all measures to eliminate its use in financing illegitimate activities. × Niti Aayog will establish a national programme to direct efforts towards Artificial Intelligence, including research and development of its applications. × The govt proposes to expand India's airport capacity from what it is now to more than 5 times. × 56 unserved airports and 31 unserved helipads will be covered for usage by civilians. People wearing Hawai Chappal will also be able to use Hawai Jahaj. × National Highways exceeding 9,000-km will be completed in 2018-19. × Rail Budget 2018 Finance Minister Arun Jaitley in his Union Budget 2018 speech announced a capital expenditure of Rs 1.48 lakh crore for Indian railways. According to Jaitley most of this money will be spent on capacity expansion since that is the most important priority for railways right now. There is a target of doubling 18,000 km of lines and gauge conversion is underway to eliminate capacity constraints, FM Jaitley said for Railway Budget 2018. Highlights of Rail Budget Focus on safety first, maintenance of track infrastructure is being given special attention. 12,000 wagons, 5160 coaches and 700 locomotives being procured. There are significant achievements of physical targets by Railways. All stations with more than 25,000 footfall will have escalators. 4267 unmanned railway crossing will be eliminated in next two years. All railway stations and trains will be provided WiFi and CCTVs progressively. 10 prominent tourist sites to be developed as iconic tourist spots. Redevelopment of 600 major railway stations taken up; Mumbai transport system being expanded; the suburban network of 160 km planned for Bengaluru. Foundation stone of the bullet train was laid in September 2017. An institute is coming up in Vadodara to train the manpower required for the high-speed railway projects. Physical targets of Indian Railways is also improving. Work on dedicated freight corridors is on in full-swing – both east and west – announced FM Jaitley in the Railway Budget speech. We have announced plans to set up a dedicated Railway University in Vadodara, said FM Arun Jaitley during his Union Budget 2018 speech. 70 lakh formal jobs have been created this year. Govt will contribute 12% of the wages as EPF in all sectors for the next three years. Contributions from women employees will be brought down from 12% to 8%. × Loans to women self-help groups increased 37% year over year. × AMRUT program to focus on water supply to all households in 500 cities. Water supply contracts for 494 projects worth 19,428 core awarded. × 115 aspiration districts identified taking various indices of development into consideration, quality of life to be improved in these districts. × Technology will be the biggest driver in improving quality of education. We propose to increase the digital intensity in education and move gradually from blackboard to digital board. × Target of 3 lakh crore for lending under PM MUDRA Yojana. × Mass formalization of MSME sector is happening after demonetization and GST. × Rural infra, livelihood expenditure to be Rs 14.34 lakh cr in 2018-19. × National Health Protection Schemes to cover 10 crore poor and vulnerable families. It will benefit 50 crore poor people. Rs. 5 lakh per family per year will be provided for poor families for hospital treatments. × 24 new govt medical colleges and hospitals to be set up by upgrading existing district hospitals. × Food processing allocation doubled. Food processing sector growing at 8%. × Govt to launch 'Revitalising Infrastructure and Systems in Education by 2022. × National Livelihood Mission allocated Rs. 5,750 cr in 2018-19. × Govt to increase digital intensity in education. Technology to be the biggest driver in improving quality of education. × Rs 14.34 lakh crore rupees to be spent for rural infrastructure. × By 2022, every block with more than 50% ST population will have an Eklavya Model Residential School. × Fishery and Aquaculture Development Fund and Animal Husbandry Infrastructure Fund with a total corpus of Rs. 10,000 Crore will be set up. × Proposed to raise institutional credit for agriculture to Rs 11 Lakh Crore for 2018-19. × Hardwork of farmers resulted in a record production of more than 275 million tonnes of food grain and about 300 million tonnes of horticultural produce. × Restructured National Bamboo Mission to be launched with an allocation of 1290 crore rupees to promote bamboo sector in a holistic manner. × MSP of crops shall be increased to 1.5 times that of the production cost. × Rs 500 crore allotted for Operation Green. × The manufacturing sector is back on growth path; Exports are expected to grow by 15% in 2017-18. × Government proposes to launch 'Operation Greens' on the lines of Operation Flood'. × Government proposes to launch 'Operation Greens' along the lines of Operation Flood'. × India now a global success story because of direct transfer benefits that citizens have been provided with. × Agri-Market Development Fund with a corpus of 2000 crore to be set up for developing agricultural markets. × I am very happy to announce that minimum support price has been set at 1.5 times the production cost for kharif crops: Finance Minister × Latest technology provided to farmers: Finance Minister × More than 80 per cent of our farmers are small and marginal: FM × Our economy is on course to achieve high growth rate of 8%. Economy to grow at 7.2-7.5% in second half of 2018-19: Finance Minister × FDI has gone up and it is easier to do business in India; Indian economy is now a 2.5 trillion economy: Finance Minister × The Direct Benefit Transfer scheme that we have undertaken is the biggest such exercise in the world and is a global success story: FM × Structural reforms undertaken by the NDA government will help Indian economy achieve strong growth in medium and long term: FM × As we have pointed out, increasing production is fine. The problem is getting farmers 50% profit margin on top of production costs. × PM Narendra Modi has always stressed on the importance of good governance. This vision has inspired Government agencies to carry out several reforms: FM × Indian economy is on course to achieve high growth of 8 %. Economy to grow at 7.2-7.5% in second half of 2018-19: FM Jaitley × Indian economy has performed very well since our Govt took over in may 2014, It is now the seventh largest in the world: FM Jaitley × The growth of the economy at 6.3% in second quarter signalled a turnaround in economy. We hope to target 7.2 to 7.5% growth: FM × This govt has ended policy paralysis. India was in fragile five group. Today, India is one of the fastest growing economies in the world: Finance Minister × Modi govt has successfully implemented series of structural reforms. FDI has gone up, measures brought have made business to be done easily. Indirect system has been made simpler: FM Arun Jaitley × When we took over, India was considered one of the fragile five. We have successfully reversed this, India now among the fastest growing economies in the world: Finance Minister × Jaitley rises to present the Budget 2018-19. The Session begins. Lok Sabha Speaker Sumitra Mahajan speaks. Finance Minister Arun Jaitley will present the Budget shortly.

Budget 2018: Govt is focusing on rural and agricultural economy, says Arun Jaitley