UNION BUDGET 2018-19 HIGHLIGHTS

UNION BUDGET 2018-19 HIGHLIGHTS

* Education and health cess to be increased from 3 per cent to 4 per cent

* Standard deduction of Rs 40,000 introduced in lieu of transport and medical reimbursements for salaried employees

* All senior citizens can claim benefit of reduction Rs 50,000 year for any general health expenditure and health insurance premium

* Exemption of interest income on bank deposits raised to Rs 50,000 for senior citizens

* Long-term capital gains exceeding Rs 1 lakh to be taxed at 10 per cent

* Electronic IT assessment will be rolled out across the country, leading to greater efficiency and transparency

* No change in personal income tax rates for salaried class

* Tax buoyancy more than expected, thanks to greater compliance

* Demonetisation was received by honest tax-payers as 'Imaandari ka Utsav'

* Measures on rationalising long-term capital gains

* Companies with turnover of upto Rs 250 crore to be taxed at 25 per cent

* Government has identified 372 specific business reform actions to improve ease of doing business; Evaluation of performance under this programme to be based on user feedback

* Revised fiscal deficit estimate for 2017-18 is 3.5 per cent of GDP, fiscal deficit of 3.3 per cent expected for 2018-19

* 12.6 per cent growth in direct taxes in 2017-18; 18.7 per cent growth in indirect taxes in 2017-18

* 100 per cent tax deduction for the first five years to companies registered as farmer producer companies with a turnover of Rs 100 crore and above

* Revised emoluments for President - Rs 5 lakh, Vice President - Rs 4 lakh and Governors - Rs 3.5 lakh; Automatic revision of MPs' emoluments every five years, indexed to inflation

* UDAN (Ude Desh ka Aam Naagrik) scheme will connect 56 unserved airports and 31 unserved helipads

* Rs 80,000 crore disinvestment target for 2018-19, target for 2017-18 has been exceeded and will reach Rs 1 lakh crore

* Government insurance companies to be merged into a single entity, and subsequently listed in the stock exchange, as part of the disinvestment programme

* National Logistics Portal as a single online window to link all stakeholders, to be developed by Department of Commerce

* Foundation stone of the bullet train was laid in September 2017. An institute is coming up in Vadodara to train the manpower required for the high speed railway projects

* 12,000 wagons, 5160 coaches and 700 locomotives being procured. There is significant achievements of physical targets by railways

* Road construction has scaled new heights, confident that 9000 km highway construction will be complete by 2017-18

* National Committee chaired by PM, including CMs, Gandhians and representatives from various walks of life for year-long commemoration of 150th birth anniversary of Mahatma Gandhi

* Rs 1,48,528 crore capital expenditure for Indian Railways for 2018-19

* All trains to be progressively provided with Wi-Fi, CCTV and other state-of-the-art amenities

* NITI Aayog will establish a National Programme to direct efforts in the area of Artificial Intelligence towards national development

* Five lakh Wi-Fi hotspots to be set up in rural areas to provide easy internet access

* Government to take all steps to eliminate use of cryptocurrencies which are being used to fund illegitimate transactions

* Individual enterprises too to have unique ID

* Government plans to construct two crore more toilets under Swachh Bharat Mission

* Rs 7,148 crore outlay for textile sector in 2018-19

* One government medical college to be ensured for every three parliamentary constituencies by upgrading 24 district-level c