image 2018-03-08 18:34:44


•    MSP for all unannounced kharif crops will be one and half times of their production cost like majority of rabi crops: Institutional Farm Credit raised to 11 lakh crore in 2018-19 from 8.5 lakh crore in 2014-15.
•    22,000 rural haats to be developed and upgraded into Gramin Agriculture Markets.
•    “Operation Greens” launched to address price fluctuations in tomato, onion and potato for benefits of farmers and consumers.
•    Two new funds of Rs. 10,000 crore announced for Fisheries and Animal Husbandry sectors; Re-structured National Bamboo Mission gets Rs. 1290 crore.
•    Loans to Women Self Help Groups will increase to Rs. 75,000 crore in 2019 from 42,500 crore from last year.
•    Higher targets for Ujjwala, Saubhagya and Swachh Mission to cater to lower and middle class in providing free LPG connections, electricity and toilets.
•    Outlay on health, education and social protection will be 1.38 lakh crore. Tribal students to get Ekalavya Residential School in each tribal block by 2022. Welfare fund for SCs get a boost.
•    World’s largest Health Protection Scheme covering over 10 crore poor and vulnerable families launched with family limit upto 5 lakh rupees for secondary and tertiary treatment.
•    Fiscal Deficit pegged at 3.5 per cent, projected at 3.3 per cent for 2018-19.
•    Rs. 5.9 lakh crore allocation for infrastructure; Ten prominent sites to be developed as Iconic tourist destinations.
•    NITI Aayog to initiate a national programme on Artificial Intelligence (AI); Centres of excellence to be set up on robotics, Al, Internet of things etc.
•    Disinvestment crossed target of Rs. 72,500 crore to reach Rs. 1,00,000 crore.
•    Comprehensive Gold Policy on the anvil to develop yellow metal as an asset class.
•    100 percent deduction proposed to companies registered as Farmer producer Companies with an annual turnover upto Rs. 100 crore on profit derived from such activities, for five years from 2018-19.
•    Deduction of 30 percent on emoluments paid to new employees Under Section 80-JJAA to be relaxed to 150 days for footwear and leather industry, to create more employment.
•    Proposal to extend reduced rate of 25 percent currently available for companies with turnover of less than 50 crore (in Financial Year 2015-16), to companies reporting turnover up to Rs. 250 crore in Financial Year 2016-17, to benefit micro, small and medium enterprises.
•    Standard Deduction of Rs. 40,000 in place of present exemption for transport allowance and reimbursement of miscellaneous medical expenses. 2.5 crore salaried employees and pensioners to benefit.
•    Relief to Senior Citizens proposed-
Exemption of interest income on deposits with banks and post offices to be increased from Rs. 10,000 to Rs. 50,000; TDS not required to be deducted under section 194A . Benefit also available for interest from all fixed deposit schemes and recurring deposit scheme; Hike in deduction limit for health insurance premium and/ or medical expenditure from Rs. 30,000 to Rs. 50,000 under section 80D.

•    Tax on Long term Capital Gains exceeding Rs. 1 lakh at the rate of 10 %, without allowing any indexation benefit. However, all gains up to 31st January, 2018 will be grandfathered.
•    Proposal to introduce tax on distributed income by equity oriented mutual funds at the rate of 10 percent.
•    Proposal to roll out E-assessment across the country to almost eliminate person to person contact leading to greater efficiency and transparency in direct tax collection.