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Google parent Alphabet Inc missed quarterly profit forecasts as steady ad sales growth was offset by increased spending to promote its consumer gadgets, YouTube video app and cloud computing services, the U.S. technology company said on Thursday.

Shares of Alphabet dipped more than 5 percent after-hours, before steadying with a 2.7 percent loss at $1,149.93.

Though growing demand for pricey ads on mobile apps has kept Google&#39;s core ad business surging, the company has moved aggressively to maintain dominance and diversify sales. Expenses jumped 27 percent to $24.7 billion in the fourth quarter from the year-earlier period.

Google bought ads during major sports events to market its new Pixel 2 smartphone and YouTube television service. It slashed prices on other hardware in the race to get online search and media streaming devices into people&#39;s homes. Google continued to quickly add staff to its enterprise sales unit.

A growing portion of revenue has been spent on having the Google search engine set as the default option on products and services such as Apple Inc&#39;s iPhone and Mozilla&#39;s Firefox browser.

Alphabet Chief Financial Officer Ruth Porat told analysts in a post-earnings conference call that higher marketing costs coincided with holidays and that payments to partners such as Apple and Mozilla would steady in coming quarters.

Investments are paying off, Google Chief Executive Sundar Pichai said, noting that cloud computing is generating $1 billion in quarterly sales. He said Google&#39;s G Suite workplace software package had doubled its customers to 4 million in two years, as Reuters first reported earlier on Thursday.

&quot;Overall, it was a good quarter. Advertising revenue is still up significantly,&quot; Ivan Feinseth of Tigress Financial Partners said in an email.

Fourth-quarter sales increased 24 percent to $32.3 billion, above the average analysts&#39; estimate of $31.9 billion, according to Thomson Reuters I/B/E/S. Adjusted quarterly profit of $6.8 billion, or $9.70 per share, missed estimates of $7 billion, or $10 per share.

The profit figure excludes a $9.9 billion tax charge as Alphabet joined much of corporate America in reporting large one-time expenses in the fourth quarter due to U.S. legislation enacted in December that lowers corporate rates.

The tax law has given companies more affordable access to overseas profits, and Porat said Alphabet would make a &quot;modest increase&quot; in share buybacks with an additional allocation of $8.6 billion.

The growing use of smartphones worldwide has been a bonanza for social media company Facebook Inc and Google, which research firm EMarketer estimates together account for nearly 60 percent of mobile ad sales.

Google sells ad space on its search engine, its fast-growing YouTube video streaming service and a network of third-party websites and apps.

The company&#39;s computer algorithms have become more effective at delivering mobile ads likely to make customers sit through commercials, install an app or visit a website.

Led by such ads, Alphabet generated $110.9 billion in full-year revenue, up 23 percent from 2016 and topping $100 billion for the first time. Profit fell 35 percent to $12.6 billion because of the tax bill and a separate charge last summer for a $2.7 billion European Union antitrust fine, which is under appeal.

&quot;The company&#39;s continued strong top-line growth and myriad new opportunities to drive future growth remain the keys to the stock,&quot; MoffettNathanson analyst Michael Nathanson said in an email.

Alphabet is attempting to maintain sales growth through new businesses, experimenting with operating a fleet of self-driving taxis through Waymo and licensing medical technology at Verily.

Non-advertising revenue from Google combined with revenue from Verily and the other Alphabet companies was $15.5 billion in 2017, accounting for about 14 percent of total revenue, compared to $10.9 billion, or 12 percent, in 2016.

Alphabet also said on Thursday that veteran board member John Hennessy took over as chairman the day before from Eric Schmidt, a long-time Google executive who will remain a board member and technical adviser. The potential for further regulation on privacy, monopolistic business practices or content vetting is among investors&#39; top concerns about tech companies such as Alphabet and Amazon.com Inc&nbsp;that are tapping their unrivalled consumer behaviour data to branch beyond their core businesses.

MKM Partners analyst Rob Sanderson said in a note to clients last month that Google had &quot;the most unrecognized value&quot; of big publicly traded tech companies despite some concerns about regulatory issues. 
&nbsp;

A growing portion of revenue has been spent on having the Google search engine set as the default option on products and services such as Apple Inc's iPhone and Mozilla's Firefox browser.

Google parent Alphabet Inc missed quarterly profit forecasts as steady ad sales growth was offset by increased spending to promote its consumer gadgets, YouTube video app and cloud computing services, the U.S. technology company said on Thursday. Shares of Alphabet dipped more than 5 percent after-hours, before steadying with a 2.7 percent loss at $1,149.93. Though growing demand for pricey ads on mobile apps has kept Google's core ad business surging, the company has moved aggressively to maintain dominance and diversify sales. Expenses jumped 27 percent to $24.7 billion in the fourth quarter from the year-earlier period. Google bought ads during major sports events to market its new Pixel 2 smartphone and YouTube television service. It slashed prices on other hardware in the race to get online search and media streaming devices into people's homes. Google continued to quickly add staff to its enterprise sales unit. A growing portion of revenue has been spent on having the Google search engine set as the default option on products and services such as Apple Inc's iPhone and Mozilla's Firefox browser. Alphabet Chief Financial Officer Ruth Porat told analysts in a post-earnings conference call that higher marketing costs coincided with holidays and that payments to partners such as Apple and Mozilla would steady in coming quarters. Investments are paying off, Google Chief Executive Sundar Pichai said, noting that cloud computing is generating $1 billion in quarterly sales. He said Google's G Suite workplace software package had doubled its customers to 4 million in two years, as Reuters first reported earlier on Thursday. "Overall, it was a good quarter. Advertising revenue is still up significantly," Ivan Feinseth of Tigress Financial Partners said in an email. Fourth-quarter sales increased 24 percent to $32.3 billion, above the average analysts' estimate of $31.9 billion, according to Thomson Reuters I/B/E/S. Adjusted quarterly profit of $6.8 billion, or $9.70 per share, missed estimates of $7 billion, or $10 per share. The profit figure excludes a $9.9 billion tax charge as Alphabet joined much of corporate America in reporting large one-time expenses in the fourth quarter due to U.S. legislation enacted in December that lowers corporate rates. The tax law has given companies more affordable access to overseas profits, and Porat said Alphabet would make a "modest increase" in share buybacks with an additional allocation of $8.6 billion. The growing use of smartphones worldwide has been a bonanza for social media company Facebook Inc and Google, which research firm EMarketer estimates together account for nearly 60 percent of mobile ad sales. Google sells ad space on its search engine, its fast-growing YouTube video streaming service and a network of third-party websites and apps. The company's computer algorithms have become more effective at delivering mobile ads likely to make customers sit through commercials, install an app or visit a website. Led by such ads, Alphabet generated $110.9 billion in full-year revenue, up 23 percent from 2016 and topping $100 billion for the first time. Profit fell 35 percent to $12.6 billion because of the tax bill and a separate charge last summer for a $2.7 billion European Union antitrust fine, which is under appeal. "The company's continued strong top-line growth and myriad new opportunities to drive future growth remain the keys to the stock," MoffettNathanson analyst Michael Nathanson said in an email. Alphabet is attempting to maintain sales growth through new businesses, experimenting with operating a fleet of self-driving taxis through Waymo and licensing medical technology at Verily. Non-advertising revenue from Google combined with revenue from Verily and the other Alphabet companies was $15.5 billion in 2017, accounting for about 14 percent of total revenue, compared to $10.9 billion, or 12 percent, in 2016. Alphabet also said on Thursday that veteran board member John Hennessy took over as chairman the day before from Eric Schmidt, a long-time Google executive who will remain a board member and technical adviser. The potential for further regulation on privacy, monopolistic business practices or content vetting is among investors' top concerns about tech companies such as Alphabet and Amazon.com Inc that are tapping their unrivalled consumer behaviour data to branch beyond their core businesses. MKM Partners analyst Rob Sanderson said in a note to clients last month that Google had "the most unrecognized value" of big publicly traded tech companies despite some concerns about regulatory issues.

Alphabet's earnings miss profit estimates as spending grows

The benchmark stock indices dropped nearly 1 per cent in morning trade due to selling in banking, auto, financial and telecom stocks after the budget proposal to impose a long-term capital gains (LTCG) tax on equity gains of more than Rs 1 lakh.

The 30-share BSE Sensex dropped by 328.24 points or 0.91 per cent to 35,578.42 in morning trade as 25 of its constituents declined.

The NSE Nifty fell below the key 11,000-mark as 38 of its components dropped. The 50-issue Nifty was trading down by 96.35 or 0.87 per cent at 10,920.55 at 1000hrs.

Among major losers, private banks Kotak Bank, IndusInd Bank Yes bank, Axis Bank, ICICI Bank and HDFC Bank fell up to 2.9 per cent.

Adani Ports, HDFC, L&amp;T and Reliance Industries, Maruti, SBI, Bajaj Auto, M&amp;M, Coal India and NTPC also declined up to 2 per cent.

IT major TCS and Infosys and drug makers Sun Pharma and Dr Reddy&#39;s, however, posted gains of up to 1.20 per cent on a weaker rupee.

Sentiment took a hit after Finance Minister Arun Jaitley yesterday announced long-term capital gains tax of 10 per cent on stock market gains exceeding Rs 1 lakh.

A weak trend in Asia also came as a dampener, traders said.

With the Budget out of the way, the focus turns to RBI&#39;s monetary policy to be released later this month.

Japan&#39;s Nikkei was down 1.30 per cent while Shanghai Composite Index shed 0.40 per cent in early trade today. Hong Kong&#39;s Hang Seng, however, up 0.20 per cent.

Most of the US stock indices dropped overnight after concerns over political crisis and rising US Treasury yields.&nbsp;

Among major losers, private banks Kotak Bank, IndusInd Bank Yes bank, Axis Bank, ICICI Bank and HDFC Bank fell up to 2.9 per cent.

The benchmark stock indices dropped nearly 1 per cent in morning trade due to selling in banking, auto, financial and telecom stocks after the budget proposal to impose a long-term capital gains (LTCG) tax on equity gains of more than Rs 1 lakh. The 30-share BSE Sensex dropped by 328.24 points or 0.91 per cent to 35,578.42 in morning trade as 25 of its constituents declined. The NSE Nifty fell below the key 11,000-mark as 38 of its components dropped. The 50-issue Nifty was trading down by 96.35 or 0.87 per cent at 10,920.55 at 1000hrs. Among major losers, private banks Kotak Bank, IndusInd Bank Yes bank, Axis Bank, ICICI Bank and HDFC Bank fell up to 2.9 per cent. Adani Ports, HDFC, L&T and Reliance Industries, Maruti, SBI, Bajaj Auto, M&M, Coal India and NTPC also declined up to 2 per cent. IT major TCS and Infosys and drug makers Sun Pharma and Dr Reddy's, however, posted gains of up to 1.20 per cent on a weaker rupee. Sentiment took a hit after Finance Minister Arun Jaitley yesterday announced long-term capital gains tax of 10 per cent on stock market gains exceeding Rs 1 lakh. A weak trend in Asia also came as a dampener, traders said. With the Budget out of the way, the focus turns to RBI's monetary policy to be released later this month. Japan's Nikkei was down 1.30 per cent while Shanghai Composite Index shed 0.40 per cent in early trade today. Hong Kong's Hang Seng, however, up 0.20 per cent. Most of the US stock indices dropped overnight after concerns over political crisis and rising US Treasury yields.

Budget aftermath: Sensex drops 324 points, Nifty below 11,000 on LTCG jitters

Apple on Thursday said its earnings in the final three months of last year set new records, with sales of its flagship iPhone X topping its expectations.

The California-based technology giant reported that profit climbed to $20 billion on revenue that increased 13 percent to $88.3 billion during the period.

&quot;We&#39;re thrilled to report the biggest quarter in Apple&#39;s history, with broad-based growth that included the highest revenue ever from a new iPhone lineup,&quot; said Apple chief executive Tim Cook.

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<h5>However, Apple reported that overall iPhone sales in the quarter of 77.3 million were about a million fewer than the same period a year earlier</h5>
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&quot;iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November.&quot;

However, Apple reported that overall iPhone sales in the quarter of 77.3 million were about a million fewer than the same period a year earlier.&nbsp;

But iPhone revenues rose 13 percent from a year ago, suggesting its newer models were gaining traction.

The earnings -- for the first quarter of Apple&#39;s financial year -- come amid concerns over weak demand for the newest and most expensive iPhone X, the 10th anniversary edition of the iconic smartphone.

Revenue growth from iPhone sales rose in all regions, and it was the top-selling smartphone overall in mainland China, according to Cook.

&quot;It was a stellar quarter for iPhone,&quot; Cook said.

&quot;iPhone X was the most popular.&quot;

Apple also forecast revenue of between $60 billion and $62 billion in the current quarter, an outlook less rosy than analysts had expected.

Apple shares dipped and then rose more than three percent to $173.40 in after-market trades that followed release of the earnings figures.

Spotlight off iPhone 
Despite Apple&#39;s spectacular trajectory in the decade since the introduction of the iPhone, the California technology titan is facing challenges on whether it can continue growth.

Apple&#39;s image has been bruised by revelations that it updated its mobile software to slow the performance of old iPhones as batteries weaken from age.

While the iPhone delivered the bulk of revenues, $61.6 billion in the quarter, the key segment of services saw revenue growth of 18 percent to $8.5 billion.

The &quot;other product&quot; segment which includes the Apple Watch and Apple TV, increased 36 percent to $5.5 billion.

Cook spent much of an earnings call with analysts playing up increasing revenue from Apple services, digital content, subscriptions, and products other than iPhones.

The number of Apple devices being used in the world as of January is at an all-time high of 1.3 billion, the ranks having grown 30 percent during the past two years, according to Apple.

&quot;That number speaks to the strength of the product; the loyalty of the customer, the strength of the ecosystem; it also obviously fuels the services business,&quot; Cook said.

While iPhone sales are at the heart of Apple&#39;s money-making machine, the company has taken to spotlighting revenue from the App Store, iCloud, Apple Music, iTunes and other content and services people tap into using its devices.

Where&#39;s the wow? 
Neil Saunders, managing director of research firm GlobalData Retail, saw &quot;worrying trends&quot; behind Apple&#39;s record-breaking quarterly earnings.

The number of iPhones sold declined, and people overall seem to be waiting longer to upgrade to new smartphones, the analyst noted. He saw the slowdown in iPhone sales as a sign that Apple isn&#39;t coming up with the kind of innovations that &quot;wow&quot; consumers.

&quot;We believe that the clear blue water that once existed between Apple and rivals is much diminished,&quot; Saunders said.

&quot;The company has time to reopen the gap, but to do so, it needs to pull something new and unique out of its hat sooner, rather than later.&quot;

Apple said its cash pile grew to $285 billion, with much of that stashed overseas.

The company said last month it would bring back most of its profits from abroad to take advantage of a favorable tax rate in legislation approved by Congress last year.

The repatriation will result in a tax bill of about $38 billion, but also would free up big chunks of money for investment.

The tech giant reported that profit climbed to $20 billion in the final three months of last year

Apple on Thursday said its earnings in the final three months of last year set new records, with sales of its flagship iPhone X topping its expectations. The California-based technology giant reported that profit climbed to $20 billion on revenue that increased 13 percent to $88.3 billion during the period. "We're thrilled to report the biggest quarter in Apple's history, with broad-based growth that included the highest revenue ever from a new iPhone lineup," said Apple chief executive Tim Cook. However, Apple reported that overall iPhone sales in the quarter of 77.3 million were about a million fewer than the same period a year earlier × "iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November." However, Apple reported that overall iPhone sales in the quarter of 77.3 million were about a million fewer than the same period a year earlier. But iPhone revenues rose 13 percent from a year ago, suggesting its newer models were gaining traction. The earnings -- for the first quarter of Apple's financial year -- come amid concerns over weak demand for the newest and most expensive iPhone X, the 10th anniversary edition of the iconic smartphone. Revenue growth from iPhone sales rose in all regions, and it was the top-selling smartphone overall in mainland China, according to Cook. "It was a stellar quarter for iPhone," Cook said. "iPhone X was the most popular." Apple also forecast revenue of between $60 billion and $62 billion in the current quarter, an outlook less rosy than analysts had expected. Apple shares dipped and then rose more than three percent to $173.40 in after-market trades that followed release of the earnings figures. Spotlight off iPhone Despite Apple's spectacular trajectory in the decade since the introduction of the iPhone, the California technology titan is facing challenges on whether it can continue growth. Apple's image has been bruised by revelations that it updated its mobile software to slow the performance of old iPhones as batteries weaken from age. While the iPhone delivered the bulk of revenues, $61.6 billion in the quarter, the key segment of services saw revenue growth of 18 percent to $8.5 billion. The "other product" segment which includes the Apple Watch and Apple TV, increased 36 percent to $5.5 billion. Cook spent much of an earnings call with analysts playing up increasing revenue from Apple services, digital content, subscriptions, and products other than iPhones. The number of Apple devices being used in the world as of January is at an all-time high of 1.3 billion, the ranks having grown 30 percent during the past two years, according to Apple. "That number speaks to the strength of the product; the loyalty of the customer, the strength of the ecosystem; it also obviously fuels the services business," Cook said. While iPhone sales are at the heart of Apple's money-making machine, the company has taken to spotlighting revenue from the App Store, iCloud, Apple Music, iTunes and other content and services people tap into using its devices. Where's the wow? Neil Saunders, managing director of research firm GlobalData Retail, saw "worrying trends" behind Apple's record-breaking quarterly earnings. The number of iPhones sold declined, and people overall seem to be waiting longer to upgrade to new smartphones, the analyst noted. He saw the slowdown in iPhone sales as a sign that Apple isn't coming up with the kind of innovations that "wow" consumers. "We believe that the clear blue water that once existed between Apple and rivals is much diminished," Saunders said. "The company has time to reopen the gap, but to do so, it needs to pull something new and unique out of its hat sooner, rather than later." Apple said its cash pile grew to $285 billion, with much of that stashed overseas. The company said last month it would bring back most of its profits from abroad to take advantage of a favorable tax rate in legislation approved by Congress last year. The repatriation will result in a tax bill of about $38 billion, but also would free up big chunks of money for investment.

Apple says it sold fewer iPhones but made record profit

Facebook offered reassurances to investors on Wednesday that its digital ad business would remain highly profitable, despite a dip in usage on the social media network and an overhaul of its flagship News Feed.

The company said in an earnings report that quarterly revenue jumped 47 per cent from a year earlier, and executives said on a conference call that they saw more chances to make money even if people spend less time on Facebook.

Analysts had wondered about the resilience of the world&#39;s largest social media network, which is making changes to its products to deter foreign influence campaigns like ones that it says Russia has carried out and to stem the spread of sensationalism.

Facebook added to jitters after the bell on Wednesday when, in its earnings report, it said that at the end of last year time spent by users had fallen by about 50 million hours a day. Shares fell more than 4 per cent in after-hours trading.

Shortly afterward, though, Facebook executives expressed optimism on the call with analysts, saying the changes they were making in response to criticism would be healthy for the business in the long term and might not even hurt much in the short term.

&quot;I want to be clear: The most important driver of our business has never been time spent by itself. It&#39;s the quality of the conversations and connections,&quot; Chief Executive Mark Zuckerberg said on the call.

The upbeat forecast led to a rebound in shares, which in late after-hours trading were up 1.4 per cent at $189.50.

Facebook management &quot;acknowledged things that maybe most investors weren&#39;t thinking about before - the reduction of users and usage - but at the same time they pointed to a lot of positive trends on their other platforms,&quot; Pivotal Research Group analyst Brian Wieser said.

Although Facebook usage is down, he said, &quot;One shouldn&#39;t be reflectively negative on this.&quot;

Chief Operating Officer Sheryl Sandberg told analysts that recent changes to reduce disinformation on Facebook could create &quot;more monetization opportunities.&quot;

Sandberg said she was optimistic about potential revenue from ads on &quot;stories&quot; on Facebook and Instagram, while Chief Financial Officer David Wehner said the average price per ad increased 43 per cent in quarter.

&quot;They said average revenue per ad was up a lot, that quality of ads has improved, and that the engagement declines were not meaningful,&quot; Wedbush analyst Michael Pachter said.

&quot;In other words, better quality engagement and better ability to target ads. The street probably likes that,&quot; he said.

Facebook said that time spent was falling at the end of last year by about 50 million hours a day due to changes that it said reduced viral videos, even before the company announced a series of changes to the News Feed that may further reduce user engagement.

Facebook&#39;s 1.40 billion daily active users was up 14 per cent from a year earlier, but below analysts&#39; estimate of 1.41 billion for the fourth quarter, according to financial data and analytics firm FactSet.

The number of daily users in the United States and Canada fell for the first time in Facebook&#39;s history, dipping in the company&#39;s home market by 700,000 from a quarter earlier to 184 million. Wehner said the number would &quot;fluctuate&quot; in the future.

Total revenue, though, showed little impact, rising 47 per cent to $12.97 billion and beating analysts&#39; estimate of $12.55 billion, according to Thomson Reuters I/B/E/S.

Wehner reiterated Facebook&#39;s earlier guidance on expenses, telling analysts on the call that expenses would likely grow 45 per cent to 60 percent during 2018. The spending spree includes thousands of new workers to review content posted by users.

The overhaul of Facebook&#39;s New Feed was prompted in part by its disclosure last year that Russian agents used Facebook to try to sway American voters from 2015 to 2017, an allegation that Moscow denies. Facebook said 126 million Americans may have seen Russian-backed political ads and posts.

In the fourth quarter, net income attributable to Facebook shareholders rose to $4.27 billion, or $1.44 per share, in the fourth quarter ended December 31 from $3.56 billion, or $1.21 per share, a year earlier.

Excluding a tax provision, the company earned $2.21 per share, topping analysts&#39; estimates of $1.95, according to Thomson Reuters I/B/E/S. Facebook said it increased its provision for 2017 income taxes by $2.27 billion, citing US tax changes.

Facebook offered reassurances to investors on Wednesday that its digital ad business would remain highly profitable, despite a dip in usage on the social media network and an overhaul of its flagship News Feed

Facebook offered reassurances to investors on Wednesday that its digital ad business would remain highly profitable, despite a dip in usage on the social media network and an overhaul of its flagship News Feed. The company said in an earnings report that quarterly revenue jumped 47 per cent from a year earlier, and executives said on a conference call that they saw more chances to make money even if people spend less time on Facebook. Analysts had wondered about the resilience of the world's largest social media network, which is making changes to its products to deter foreign influence campaigns like ones that it says Russia has carried out and to stem the spread of sensationalism. Facebook added to jitters after the bell on Wednesday when, in its earnings report, it said that at the end of last year time spent by users had fallen by about 50 million hours a day. Shares fell more than 4 per cent in after-hours trading. Shortly afterward, though, Facebook executives expressed optimism on the call with analysts, saying the changes they were making in response to criticism would be healthy for the business in the long term and might not even hurt much in the short term. "I want to be clear: The most important driver of our business has never been time spent by itself. It's the quality of the conversations and connections," Chief Executive Mark Zuckerberg said on the call. The upbeat forecast led to a rebound in shares, which in late after-hours trading were up 1.4 per cent at $189.50. Facebook management "acknowledged things that maybe most investors weren't thinking about before - the reduction of users and usage - but at the same time they pointed to a lot of positive trends on their other platforms," Pivotal Research Group analyst Brian Wieser said. Although Facebook usage is down, he said, "One shouldn't be reflectively negative on this." Chief Operating Officer Sheryl Sandberg told analysts that recent changes to reduce disinformation on Facebook could create "more monetization opportunities." Sandberg said she was optimistic about potential revenue from ads on "stories" on Facebook and Instagram, while Chief Financial Officer David Wehner said the average price per ad increased 43 per cent in quarter. "They said average revenue per ad was up a lot, that quality of ads has improved, and that the engagement declines were not meaningful," Wedbush analyst Michael Pachter said. "In other words, better quality engagement and better ability to target ads. The street probably likes that," he said. Facebook said that time spent was falling at the end of last year by about 50 million hours a day due to changes that it said reduced viral videos, even before the company announced a series of changes to the News Feed that may further reduce user engagement. Facebook's 1.40 billion daily active users was up 14 per cent from a year earlier, but below analysts' estimate of 1.41 billion for the fourth quarter, according to financial data and analytics firm FactSet. The number of daily users in the United States and Canada fell for the first time in Facebook's history, dipping in the company's home market by 700,000 from a quarter earlier to 184 million. Wehner said the number would "fluctuate" in the future. Total revenue, though, showed little impact, rising 47 per cent to $12.97 billion and beating analysts' estimate of $12.55 billion, according to Thomson Reuters I/B/E/S. Wehner reiterated Facebook's earlier guidance on expenses, telling analysts on the call that expenses would likely grow 45 per cent to 60 percent during 2018. The spending spree includes thousands of new workers to review content posted by users. The overhaul of Facebook's New Feed was prompted in part by its disclosure last year that Russian agents used Facebook to try to sway American voters from 2015 to 2017, an allegation that Moscow denies. Facebook said 126 million Americans may have seen Russian-backed political ads and posts. In the fourth quarter, net income attributable to Facebook shareholders rose to $4.27 billion, or $1.44 per share, in the fourth quarter ended December 31 from $3.56 billion, or $1.21 per share, a year earlier. Excluding a tax provision, the company earned $2.21 per share, topping analysts' estimates of $1.95, according to Thomson Reuters I/B/E/S. Facebook said it increased its provision for 2017 income taxes by $2.27 billion, citing US tax changes.

Facebook forecasts rising ad sales despite dip in usage

Amid tensions along the<a href="http://www.wionews.com/business-economy/as-expected-budget-2018-friendly-to-farmers-big-on-health-stocks-fall-31454"> border with Pakistan, the finance minister</a> today announced an increase of 7.81 per cent in India&#39;s defence budget in 2018.

During his speech, the<a href="http://www.wionews.com/business-economy/union-budget-2018-govt-imposes-10-per-cent-surcharge-on-income-above-rs-50-lakh-31470"> finance minister lauded the </a><a href="http://www.wionews.com/business-economy/union-budget-2018-govt-imposes-10-per-cent-surcharge-on-income-above-rs-50-lakh-31470">defence</a> forces in the country for their contribution towards protecting India&#39;s border in the west and the east including in J&amp;K.

<a href="http://www.wionews.com/business-economy/union-budget-2018-full-text-of-finance-minister-arun-jaitleys-speech-to-parliament-31464">Also Read:&nbsp;Full text of Finance Minister Arun Jaitley&#39;s speech to Parliament&nbsp;</a>

&quot;The government will take measures to develop two defence industrial production corridors in the country,&quot; Jaitley said during his budget speech.

The government has set 2.95 lakh crore for the defence budget in the next fiscal, out of the total allocation the outlay for the three defence services - Army, Navy and Air Force - &nbsp;for the purchase of new weapons, aircraft, warships and other military hardware has been pegged at Rs 99,947 crore.

In effect, the defence outlay has been raised to Rs 2.95 lakh crore in 2018-19 from Rs 2.74 lakh crore in current year.

During his Budget speech, Jaitley said modernising and enhancing the operational capability has become the focal point for the defence forces.

The finance minister also&nbsp;emphasised that the government would be moving towards &quot;self reliance&quot; in defence production adding that private investment in defence production had been opened up, including liberalising foreign direct investment. &nbsp;

In a move to placate the ex-officers, Jaitley announced Rs 1,08,853 crore allocation for pension payments which is an increase of over 26 per cent from last year.

 
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Jaitley announced Rs 1,08,853 crore allocation for pension payments which is an increase of over 26 per cent from last year.

Amid tensions along the border with Pakistan, the finance minister today announced an increase of 7.81 per cent in India's defence budget in 2018. During his speech, the finance minister lauded the defence forces in the country for their contribution towards protecting India's border in the west and the east including in J&K. Also Read: Full text of Finance Minister Arun Jaitley's speech to Parliament "The government will take measures to develop two defence industrial production corridors in the country," Jaitley said during his budget speech. The government has set 2.95 lakh crore for the defence budget in the next fiscal, out of the total allocation the outlay for the three defence services - Army, Navy and Air Force - for the purchase of new weapons, aircraft, warships and other military hardware has been pegged at Rs 99,947 crore. In effect, the defence outlay has been raised to Rs 2.95 lakh crore in 2018-19 from Rs 2.74 lakh crore in current year. During his Budget speech, Jaitley said modernising and enhancing the operational capability has become the focal point for the defence forces. The finance minister also emphasised that the government would be moving towards "self reliance" in defence production adding that private investment in defence production had been opened up, including liberalising foreign direct investment. In a move to placate the ex-officers, Jaitley announced Rs 1,08,853 crore allocation for pension payments which is an increase of over 26 per cent from last year.

Budget 2018: Jaitley bets on defence forces, increases pension allocation

Arun Jaitley said Thursday 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">annual Budget that the NDA</a> government would set up the world&#39;s largest healthcare programme.&nbsp;

The scheme, he said, would insure 10 crore families or approximately 50 crore people.&nbsp;

Each person, Jaitley said, would be given insurance cover of Rs 5 lakh a year.

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<a href="http://www.wionews.com/business-economy/live-union-budget-2018-finance-minister-arun-jaitley-presents-budget-in-parliament-31380">Jaitley added</a> that the government was going to add 24 government medical colleges or hospitals by upgrading existing district hospitals.&nbsp;

The additional hospitals&nbsp;would mean there will be at least one government medical college or hospital in each state and every three parliamentary constituencies.&nbsp;

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>

&nbsp;

The scheme will insure 10 crore families or approximately 50 crore people, Jaitley said

Arun Jaitley said Thursday while presenting the annual Budget that the NDA government would set up the world's largest healthcare programme. The scheme, he said, would insure 10 crore families or approximately 50 crore people. Each person, Jaitley said, would be given insurance cover of Rs 5 lakh a year. Jaitley added that the government was going to add 24 government medical colleges or hospitals by upgrading existing district hospitals. The additional hospitals would mean there will be at least one government medical college or hospital in each state and every three parliamentary constituencies. Also read: Budget 2018: Government to launch 'Operation Green', allots Rs 500 crore

Budget 2018: Government to set up world's largest healthcare programme, says Jaitley

Union Finance Minister Arun Jaitley concluded his budget speech a short while ago. The budget 2018-19 focussed primarily on the rural and agricultural economy and promised a brighter future for the <a href="http://www.wionews.com/business-economy/budget-2018-government-to-set-up-worlds-largest-healthcare-programme-says-jaitley-31435">healthcare sector</a>.&nbsp;

No change has been proposed in personal Income tax slab rates.

This year&#39;s budget is likely to make electronic items like laptops, mobile phones and television sets expensive.

The finance minister decided to keep the tax rates of most of the products unchanged. However, the government has decided to rationalise customs duty for several products, a move that will impact the final price of many products.&nbsp;

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In a bid to promote PM Modi&#39;s flagship programme, &#39;Make in India&#39;, the government has decided to tweak customs duty of some products. Prices of imported goods will get impacted.&nbsp;

Also read: <a href="http://www.wionews.com/business-economy/as-expected-budget-2018-friendly-to-farmers-big-on-health-stocks-fall-31454">Budget 2018 friendly to farmers, big on health; stocks fall</a>

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The government today proposed to double the customs duty on imported panels to 15 per cent from existing 7.5 per cent with an aim to encourage local manufacturing.

A hike in customs duty is likely to make luxury cars dearer.&nbsp;

&quot;I propose to increase customs duty on mobile phones from 15 per cent to 20 per cent, on some of their parts and accessories to 15 per cent, and on certain parts of TVs to 15 per cent,&quot; Finance Minister Arun Jaitley said in his budget speech.

Also read:&nbsp;<a href="http://www.wionews.com/india-news/top-takeaways-from-union-budget-2018-31457">Top takeaways from Union Budget 2018</a>

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There is substantial potential for domestic value addition in certain sectors, like food processing, electronics, auto components, footwear and furniture, he added.

&quot;This measure will promote the creation of more jobs in the country,&quot; Jaitley said.

Cashews, fuel, machine tools, solar panels, footwear are items that are likely to cost less.&nbsp;

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Customs duty for cashews has been slashed by 2.5%. Imported machine tools and accessories used in the manufacturing sector have seen a drop in the customs duty from 7.5% to 2.5%. Solar panels and green technology enjoy zero customs duty now.

Customs duty on perfumes, dental hygiene, after-shave, deodorants, room deodorizers, haircare products doubled to 20 per cent.

Processed foods, beauty products, cars and motorbikes, silk clothing, footwear, jewellery, furniture that have been imported will be more expensive.

Other items to cost more would include silver, gold, fruit juices, miscellaneous food preparations other than soy protein; sunscreen, oral dental hygiene products, denture fixative pastes and powders, dental floss, shaving items, toiletries, diamonds, watches and clocks, scooters, video game consoles, cigarettes, vegetable oils, among others.&nbsp;

Last year&#39;s budget saw items like LED lamps, solar panels, printed circuit boards for mobiles, micro ATMs, finger-print machines and Iris scanners becoming cheaper.

Items like silver coins and commodities like cigarettes and tobacco, bidis, pan masala, goods imported through parcels, water filter membranes and cashew nuts became more expensive.

A hike in customs duty is likely to make luxury cars dearer.

Union Finance Minister Arun Jaitley concluded his budget speech a short while ago. The budget 2018-19 focussed primarily on the rural and agricultural economy and promised a brighter future for the healthcare sector. No change has been proposed in personal Income tax slab rates. This year's budget is likely to make electronic items like laptops, mobile phones and television sets expensive. The finance minister decided to keep the tax rates of most of the products unchanged. However, the government has decided to rationalise customs duty for several products, a move that will impact the final price of many products. In a bid to promote PM Modi's flagship programme, 'Make in India', the government has decided to tweak customs duty of some products. Prices of imported goods will get impacted. Also read: Budget 2018 friendly to farmers, big on health; stocks fall A hike in customs duty is likely to make luxury cars dearer. × The government today proposed to double the customs duty on imported panels to 15 per cent from existing 7.5 per cent with an aim to encourage local manufacturing. A hike in customs duty is likely to make luxury cars dearer. "I propose to increase customs duty on mobile phones from 15 per cent to 20 per cent, on some of their parts and accessories to 15 per cent, and on certain parts of TVs to 15 per cent," Finance Minister Arun Jaitley said in his budget speech. Also read: Top takeaways from Union Budget 2018 Cashews, fuel, machine tools, solar panels, footwear are items that are likely to cost less. × There is substantial potential for domestic value addition in certain sectors, like food processing, electronics, auto components, footwear and furniture, he added. "This measure will promote the creation of more jobs in the country," Jaitley said. Cashews, fuel, machine tools, solar panels, footwear are items that are likely to cost less. Imported products will cost more; green technology will be cheaper. × Customs duty for cashews has been slashed by 2.5%. Imported machine tools and accessories used in the manufacturing sector have seen a drop in the customs duty from 7.5% to 2.5%. Solar panels and green technology enjoy zero customs duty now. Customs duty on perfumes, dental hygiene, after-shave, deodorants, room deodorizers, haircare products doubled to 20 per cent. Processed foods, beauty products, cars and motorbikes, silk clothing, footwear, jewellery, furniture that have been imported will be more expensive. Other items to cost more would include silver, gold, fruit juices, miscellaneous food preparations other than soy protein; sunscreen, oral dental hygiene products, denture fixative pastes and powders, dental floss, shaving items, toiletries, diamonds, watches and clocks, scooters, video game consoles, cigarettes, vegetable oils, among others. Last year's budget saw items like LED lamps, solar panels, printed circuit boards for mobiles, micro ATMs, finger-print machines and Iris scanners becoming cheaper. Items like silver coins and commodities like cigarettes and tobacco, bidis, pan masala, goods imported through parcels, water filter membranes and cashew nuts became more expensive.

Union budget 2018: Electronic items like mobile phones, television sets to get expensive 

Finance Minister Arun Jaitley in his budget speech announced a flagship national health insurance scheme that will cover about 50 crore people in India. That is the first step in India achieving universal healthcare.

The health coverage of the scheme will be up to Rs 5 lakh per family per year for secondary and tertiary hospitalisation. &quot;We are slowly progressing towards universal health coverage,&quot; Arun Jaitley said in his budget speech, adding that the scheme will be the &quot;world&#39;s largest healthcare programme&quot;.

The government gives Rs 30,000 as health insurance for families in economically weaker sections of society under Rashtriya Swasthya Bima Yojana (RSBY) currently. This amount is grossly insufficient for any surgical procedures.

The government is also going to add 24 government medical colleges or hospitals by upgrading existing district hospitals. The additional hospitals would mean there will be at least one government medical college or hospital in each state and every three parliamentary constituencies.

Finance Minister Arun Jaitley said the government will be setting up 1.5 lakh health and wellness centres or community healthcare clinics across India under Bharat Ayushman Programme that will provide treatment for non-communicable diseases. Announcing an allocation of Rs 1200 crore based on the National Health Policy of 2017, the finance minister said: &quot;Only a Swastha Bharat (Healthy India) can be Smriddha Bharat (Prosperous India). Demographic dividend realisation impossible without proper healthcare. We propose to take healthcare protection to a new aspirational level.&quot;

A 600-crore rupee corpus has also been allocated for helping tuberculosis patients. Just as the then Finance Minister Dr Manmohan Singh&#39;s budget in 1991 was seen as the harbinger of economic reforms in India, Arun Jaitley&rsquo;s 110-minute budget speech in 2018 may go down as a shot-in-the-arm for health care in India.

Vinay Sethi, Head-Market Development, Tax &amp; Accounting, Thomson Reuters, South Asia expressed concerns on the implementation of the scheme and said: &quot;One of the key highlights of this budget is the launch of the flagship National Health Protection Scheme to cover 10 crore poor and vulnerable families and provide them up to Rs 5 lakh per family per year in secondary and tertiary care institutions. While this is a welcome development, the Government will have to plan the implementation well as it may cripple the existing limited medical infrastructure in the country. For this initiative to thrive, it is imperative for the Government to rapidly augment high quality medical facilities in the country.&quot;

Public sector accounts for only 30 per cent of the total healthcare expenditure in the country, as compared to 42-58 per cent in Brazil, 58 per cent in China, 52 per cent in Russia, 50 per cent in South Africa, 48 per cent in USA and 83 per cent in UK as per the World Health Organisation (WHO) reports.

In a recent interview to Zee News Digital, eminent sociologist Dipankar Gupta said: &quot;If you have universal health delivery and education and you make the private sector work hard to match that standard, you will do so much for the poor. The best way to solve the problem of poverty is to forget the poor and think society. When you think of education for the poor or health for the poor, you end up with poor health and poor education where you and I will not participate because that is not for us. We&rsquo;re the ones who sign the papers and yet we have no interest in it. So until we get interested, unless it is our business as well and this is not something that is outlandish&hellip; most countries in Western Europe when they started their programmes on universal health and education was when they were at their poorest.&quot;

Perhaps the finance minister was listening in.

India&#39;s total public health spending outlay is around 1.5 per cent of GDP, but this year it has gone up to 54,666 crore rupees - a healthy increase of about 12 per cent over last year&#39;s allocation. This is expected rise to over 2.5% of the GDP by the year 2025.

(With inputs from agencies)

The government is also going to add 24 government medical colleges or hospitals by upgrading existing district hospitals.

Finance Minister Arun Jaitley in his budget speech announced a flagship national health insurance scheme that will cover about 50 crore people in India. That is the first step in India achieving universal healthcare. The health coverage of the scheme will be up to Rs 5 lakh per family per year for secondary and tertiary hospitalisation. "We are slowly progressing towards universal health coverage," Arun Jaitley said in his budget speech, adding that the scheme will be the "world's largest healthcare programme". The government gives Rs 30,000 as health insurance for families in economically weaker sections of society under Rashtriya Swasthya Bima Yojana (RSBY) currently. This amount is grossly insufficient for any surgical procedures. The government is also going to add 24 government medical colleges or hospitals by upgrading existing district hospitals. The additional hospitals would mean there will be at least one government medical college or hospital in each state and every three parliamentary constituencies. Finance Minister Arun Jaitley said the government will be setting up 1.5 lakh health and wellness centres or community healthcare clinics across India under Bharat Ayushman Programme that will provide treatment for non-communicable diseases. Announcing an allocation of Rs 1200 crore based on the National Health Policy of 2017, the finance minister said: "Only a Swastha Bharat (Healthy India) can be Smriddha Bharat (Prosperous India). Demographic dividend realisation impossible without proper healthcare. We propose to take healthcare protection to a new aspirational level." A 600-crore rupee corpus has also been allocated for helping tuberculosis patients. Just as the then Finance Minister Dr Manmohan Singh's budget in 1991 was seen as the harbinger of economic reforms in India, Arun Jaitley’s 110-minute budget speech in 2018 may go down as a shot-in-the-arm for health care in India. Vinay Sethi, Head-Market Development, Tax & Accounting, Thomson Reuters, South Asia expressed concerns on the implementation of the scheme and said: "One of the key highlights of this budget is the launch of the flagship National Health Protection Scheme to cover 10 crore poor and vulnerable families and provide them up to Rs 5 lakh per family per year in secondary and tertiary care institutions. While this is a welcome development, the Government will have to plan the implementation well as it may cripple the existing limited medical infrastructure in the country. For this initiative to thrive, it is imperative for the Government to rapidly augment high quality medical facilities in the country." Public sector accounts for only 30 per cent of the total healthcare expenditure in the country, as compared to 42-58 per cent in Brazil, 58 per cent in China, 52 per cent in Russia, 50 per cent in South Africa, 48 per cent in USA and 83 per cent in UK as per the World Health Organisation (WHO) reports. In a recent interview to Zee News Digital, eminent sociologist Dipankar Gupta said: "If you have universal health delivery and education and you make the private sector work hard to match that standard, you will do so much for the poor. The best way to solve the problem of poverty is to forget the poor and think society. When you think of education for the poor or health for the poor, you end up with poor health and poor education where you and I will not participate because that is not for us. We’re the ones who sign the papers and yet we have no interest in it. So until we get interested, unless it is our business as well and this is not something that is outlandish… most countries in Western Europe when they started their programmes on universal health and education was when they were at their poorest." Perhaps the finance minister was listening in. India's total public health spending outlay is around 1.5 per cent of GDP, but this year it has gone up to 54,666 crore rupees - a healthy increase of about 12 per cent over last year's allocation. This is expected rise to over 2.5% of the GDP by the year 2025. (With inputs from agencies)

Union Budget's 'aha' moment: India takes the first steps towards universal healthcare

The BSE <a href="http://www.wionews.com/business-economy/as-expected-budget-2018-friendly-to-farmers-big-on-health-stocks-fall-31454">Sensex crashed over 300 points</a> in the afternoon as finance minister Jaitley finished his budget presentation on Thursday.

The Nifty too sank below the 11,000 mark as Jaitley was unveiling the budget.

Sensex fell&nbsp;58&nbsp;points to close at 35,906.66 while Nifty slipped 10.80 points end at&nbsp;11,016.90 on Budget day.

<a href="http://www.wionews.com/business-economy/union-budget-2018-full-text-of-finance-minister-arun-jaitleys-speech-to-parliament-31464">Also Read:&nbsp;Union Budget 2018: Full text of Finance Minister Arun Jaitley&#39;s speech to Parliament&nbsp;</a>

The 30-share index had plunged over 460 points in afternoon trade after finance minister Arun Jaitley had announced long-term capital gains tax of 10 per cent on stock market gains exceeding Rs 1 lakh.

The markets had opened slightly up in expectation of strong budget by the finance minister on Thursday morning. The BSE Sensex was up 0.45 per cent at 36,127.41 and the broader NSE Nifty was up 0.39 per cent at 11,070.80

The performance of the market is in&nbsp;stark contrast to last year when the Sensex closed 486 points up at 28,142. The Nifty closed 8,716.40 last year after touching the day&#39;s high of 8,722.40.

The market last year was buoyed by Jaitley&#39;s thrust on fiscal discipline and FPI taxation. Jaitley&#39;s decision to infuse Rs 10,000 crore in the public sector had also cheered the markets . The markets&nbsp;had closed at a&nbsp;3-month high in 2017.

This time, however, market sentiment was hit after the fiscal deficit target for 2017-18 was raised to 3.5 per cent of GDP as against 3.2 per cent earlier.

The Sensex had crashed to 35,590.17, falling 374.85 points, or 1.04 per cent during the day.

The performance of the market is in stark contrast to last year when the Sensex closed 486 points up at 28,142

The BSE Sensex crashed over 300 points in the afternoon as finance minister Jaitley finished his budget presentation on Thursday. The Nifty too sank below the 11,000 mark as Jaitley was unveiling the budget. Sensex fell 58 points to close at 35,906.66 while Nifty slipped 10.80 points end at 11,016.90 on Budget day. Also Read: Union Budget 2018: Full text of Finance Minister Arun Jaitley's speech to Parliament The 30-share index had plunged over 460 points in afternoon trade after finance minister Arun Jaitley had announced long-term capital gains tax of 10 per cent on stock market gains exceeding Rs 1 lakh. The markets had opened slightly up in expectation of strong budget by the finance minister on Thursday morning. The BSE Sensex was up 0.45 per cent at 36,127.41 and the broader NSE Nifty was up 0.39 per cent at 11,070.80 The performance of the market is in stark contrast to last year when the Sensex closed 486 points up at 28,142. The Nifty closed 8,716.40 last year after touching the day's high of 8,722.40. The market last year was buoyed by Jaitley's thrust on fiscal discipline and FPI taxation. Jaitley's decision to infuse Rs 10,000 crore in the public sector had also cheered the markets . The markets had closed at a 3-month high in 2017. This time, however, market sentiment was hit after the fiscal deficit target for 2017-18 was raised to 3.5 per cent of GDP as against 3.2 per cent earlier. The Sensex had crashed to 35,590.17, falling 374.85 points, or 1.04 per cent during the day.

No Budget cheer: Markets close down, in 2017 markets ended over 400 points up

Benchmark Sensex crashed over 300 points in afternoon trade today after Finance Minister Arun Jaitley announced 10 per cent tax on some long-term capital gains in his Budget speech.

The NSE Nifty also sank below the 11,000-mark during the Budget presentation.

Sentiment also took a hit after the fiscal deficit target for 2017-18 was raised to 3.5 per cent of GDP as against 3.2 per cent earlier.

The target for 2018-19 has been fixed at 3.3 per cent as against the Fiscal Responsibility and Budget Management Act target of 3 per cent.

In highly volatile trading, the Sensex crashed to 35,590.17, a steep fall of 374.85 points, or 1.04 per cent.

The 50-share NSE Nifty dropped 117.20 points, or 1.06 per cent, to 10,910.50.

All sectoral indices were weighed down by widespread selling, with consumer durables, metal, healthcare, realty and power falling by up to 3.20 per cent.

Laggards included Dr Reddy&#39;s, Sun Pharma, ICICI Bank, Infosys, Tata Steel, Bharti Airtel, SBI, ONGC, Maruti Suzuki and Reliance Industries, declining by up to 2.58 per cent.

Also read:&nbsp;<a href="http://www.wionews.com/business-economy/key-highlights-from-union-budget-2018-31455">Key highlights of Budget 2018</a>

The NSE Nifty also sank below the 11,000-mark during the Budget presentation

Benchmark Sensex crashed over 300 points in afternoon trade today after Finance Minister Arun Jaitley announced 10 per cent tax on some long-term capital gains in his Budget speech. The NSE Nifty also sank below the 11,000-mark during the Budget presentation. Sentiment also took a hit after the fiscal deficit target for 2017-18 was raised to 3.5 per cent of GDP as against 3.2 per cent earlier. The target for 2018-19 has been fixed at 3.3 per cent as against the Fiscal Responsibility and Budget Management Act target of 3 per cent. In highly volatile trading, the Sensex crashed to 35,590.17, a steep fall of 374.85 points, or 1.04 per cent. The 50-share NSE Nifty dropped 117.20 points, or 1.06 per cent, to 10,910.50. All sectoral indices were weighed down by widespread selling, with consumer durables, metal, healthcare, realty and power falling by up to 3.20 per cent. Laggards included Dr Reddy's, Sun Pharma, ICICI Bank, Infosys, Tata Steel, Bharti Airtel, SBI, ONGC, Maruti Suzuki and Reliance Industries, declining by up to 2.58 per cent. Also read: Key highlights of Budget 2018

Sensex crashes over 300 points on capital gains tax proposal

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.

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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>
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&nbsp;

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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>
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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.

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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>
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&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>

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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>

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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>

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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>

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'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>

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'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