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Budget Highlights: 70 lakh jobs, No income tax relief, 20 lakh new toilets in next 2yrs

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JAIPUR/NEW DELHI | Updated February 1, 2018:

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Finance Minister Arun Jaitley has presented the general budget in the Lok Sabha today. He said that GST implementation has made indirect tax easier. He said that corruption in the country has also come down.

Budget Highlights 2018-19 | India Budget

    • Discount on deposits increased from Rs10,000 to Rs 50,000
    • Exemption of Rs 40,000 under standard deduction in income tax
    • 100% concession to companies with turnover upto Rs 100 crore for agricultural produce
    • No relief in income tax
    • 99% small and marginal industries will have to pay 25% tax
    • Big relief to industry Companies with turnover of up to 250 million will get 25 percent corporate tax.
    • 10,000 crore for the development of the Internet in villages 5 lakh hotspots will be created
    • Direct tax collection has increased by 12.6%
    • Number of tax payers increased by 19.25 lakhs
    • Raising Rs 90,000 crore in tax collection against black money
    • Government losses Rs 5.95 lakh crores
    • Fiscal year 2018-19 fiscal deficit target of 3.3%
    • Steps will be taken to stop the use of cryptocancreates. Use of Blockcon Technology in Payment Systems
    • Free dialysis facility to the poor
    • New law to fix MPs’ salary Review of the salary of MPs in every 5 years
    • The 5-year system will be applicable for the salaries and allowances of MPs. This system will start from April 1, 2018
    • 5 lakhs to the President, 4 lakh to Vice President and 3 lakh rupees to the governor.
    • Will increase in the salary of President, Vice President and Governor
    • Gold will soon announce new policy It will be easier to bring and carry gold
    • 7,148 crore rupees for the textile sector
    • 11,000 crore rupees for the development of Mumbai rail network
    • 3037 crores for digital India program
    • Escalators at more than 25,000 footfall stations
    • Preparation for equipping all railway stations and trains with Wi-Fi and CCTVs
    • AMRUT program, drinking water system in 500 cities will be improved. Rs 19,428 crore will be spent


  • 3600 km railway tracks will be upgraded
  • The entire Indian rail network will be transformed into broad gauge
  • 1 lakh 48 thousand crore rupees for railways
  • Gold will soon announce new policy It will be easier to bring and carry gold.
  • Allocation of 7,148 crores for textile sector –
  • Target to raise 80 thousand crore in 2018-19 by selling shares of government companies –
  • A total of 14 government companies will come in the stock market
  • 2 government insurance companies will come in the stock market
  • Allocation of Rs 11,000 crore for the development of Mumbai rail network
  • The development work of 600 big railway stations has started. Planning to extend the Bangalore rail network to 160 km
  • Allocation of Rs.3037 crores for digital India program
  • Government aims to provide 70 lakh new jobs
  • Railways will create 12,000 wagons, 5,160 coaches and 700 locomotives
  • Human resources required for bullet project will be given training at Vadodara Railway University –
  • The scope of Mumbai Local will be extended
  • Renovation of rail tracks to 3600 km
  • 700 new railway engines will be built this year
  • All Indian rail network will be transformed into broad gauge
  • A large part of the funds released to the Railways will be spent to convert tracks, gauges
  • 1 lakh 48 thousand crore rupees for railways
  • Two million toilets will be built in the next two years
  • A proposal to build a tunnel near Serra in Arunachal Pradesh
  • 100 monuments will be made ideal
  • 50 lakh youth will be given training for job
  • Working for the development of smart cities, Rs 2 lakh crore is going on
  • 38 crore people will benefit from the money scheme
  • Rs 56,619 crore for the development of Scheduled Castes and Rs 39,135 crore for the development of tribals
  • PF deduction for women workers will be 8%. More salary will come in handy
  • 47 projects completed under Namami Ganga
  • Target to give loan amount of Rs. 3 lakh crores as loan
  • Under the Swachh Bharat Mission, the goal of creating two million toilets for poor families.
  • From Rs. 3794 crores to medium, small and micro industries

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