Important Highlights of Budget 2018 2019

IMPORTANT HIGHLIGHTS OF BUGDET 2018-19 Finance Minister Arun Jaitley has presented the Budget for the year 2018-19 2018 -19 in Parliament. The budget is largely focused on uplift of agricultural sector, along w ith major push to healthcare and education sectors in the country. The major highlights of the Budget are: 

The Finance Minister said that the Indian economy has grown with an average growth of 7.5% since 2014.

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The Growth rate is expected between 7.2-7.5% in the second half of 2017-18.

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The Minimum Support Price (MSP) of all crops shall increase to at least 1.5 times that of the t he production cost.

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The government will set up a Rs 2,000 crore Agri- Market Infrastructure Fund.

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Food processing sector is going at an average of 8 per cent per annum.

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Allocation to Food Processing Industries increased to 1400 crores in 2018-19 from 715 crore in 2017-18.

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Arun Jaitley proposes a sum of Rs 500 c rore for 'Operation Green' on the lines of 'Operation Flood'.

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An allocation of 1290 Crores for Bamboo Mission.

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Air pollution in Delhi-NCR has been a cause of concern, g ovt has proposed subsidised machinery for in-situ management of crop residue in Punjab, Haryana, Uttar P radesh and NCT Delhi.

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A fund for the fishery, aquaculture development and animal husbandry will be set up w ith a total corpus to be Rs 10,000 crore.

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11 lakh crore institutional credit for agriculture fo r 2018-19.

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UJJWALA YOJANA: a target of providing free LPG connection to 8 crore poor women.

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SWACHH BHARAT MISSION:  Six crore toilets have been built already, and in the next year, two crore additional toilets will be constructed IN 2018-19. The government will provide 4 crore e lectricity connections to the poor under Saubhagya Yojana.

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Kisan credit card to be extended ext ended to fisheries, animal husbandry farmers.

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The government will establish a dedicated affordable housing fund.

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Loans to self-help groups will increase to Rs75, 000 crore.

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Govt. allocated Rs 5, 750 crore c rore to National Livelihood Mission and Rs 2,600 crore to the groundwater irrigation scheme.

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Integrated B.Ed program for teachers.

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Eklavya Model School

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24 new government medical colleges.

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Government proposes to launch the Revitalizing of Infrastructure and Systems of Education

(RISE) by next year with a spending of 1 lakh crore in next four years. 

Specialized Railway University to be set up at Vadodara.

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NATIONAL HEALTH PROTECTION SCHEME- It will cover 10 crore poor and vulnerable families. Under this scheme Rs 5 lakh will be provided for each family per year. Tuberculosis- an allocation of 600 crores to provide nutritional support to TB Patients. It will include Rs 500 per month for patients.

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Rs. 1200 crore for health and wellness centres.

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Loans to women self-help groups of women to be increased to 75,000 crores by March 19.

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GOBAR- DHAN SCHEME- Galvanizing Organic Bio- Agro Resources Dhan Scheme.

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Govt. is launching a new national health protection scheme  – Rashtriya Samaj Beema Yojana. This will have 50 crore beneficiaries and 10 crore families will get 5 lakh per year for their families to cover secondary and tertiary hospital expenses. This is the world's largest government-funded healthcare program.

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The government increased allocation for SC-ST earmarked programmes: Rs 56,000 crore for SCs and Rs 39,000 crore for STs.

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Mudra Yojana- Target for lending is 3 lakh crores for the year 2018-19.

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5 lakh WiFi hotspots will be set up in rural areas to provide easy internet ac cess.

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Government will take all steps to e liminate use of cryptocurrencies which are funding illegitimate transactions.

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Govt announces Amrut program to focus on water supply to all households in 500 cities. Water supply contracts for 494 projects worth Rs 19,428 core will be awarded.

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Revised emoluments for President, Vice President and Governors -- Rs 5 lakh for the President of India -- Rs 4 lakh for the Vice President -- Rs 3.5 lakh for the Governors

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Government plans to eliminate 4267 unmanned Railway crossings in next two years.

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150 km additional suburban railway network at the cost of R s. 40,000 cr.

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Regional air connectivity scheme shall connect 56 unserved airports.

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Airport capacity to be hiked to handle 1 billion trips per year.

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Training for 50 lakh youth by 2020.

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Allocation for Digital India Program- Rs 3073 crores for 2018-19.

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124 Airports in the country are aimed to be expanded more than 5 times.

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Mobile phones set to become costlier as c ustom duty on them has been increased to 2 0 per cent.

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Disaster Resilient Infrastructure Fund: 60 crores Government will take all steps to eliminate use of cryptocurrencies which are funding illegitimate transactions. Standard deduction of Rs 40,000 for salaried employees  in lieu of transport and medical expenses A scheme to assign unique IDs to every individual enterprise to be introduced. Merger of three insurance companies- The Oriental Insurance Co. Ltd, National Insurance Co. Ltd, and United India Insurance Co. Ltd  into one insurance company. Total expenditure for the fiscal year 2018-19 is estimated to be over Rs 24.42 lakh crore.

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Central board of excise and customs [CBEC] to be renamed central board of indirect taxes and customs (CBIC).

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Relief to Senior Citizens: Exemption of Interest Income on deposits increased to R s 50,000

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Pradhan Mantri Vaya Vandana Yojana extended up to march 2020

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existed limit on investment under pmvvy enhanced to Rs 15 lakhs

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More Than 1.26 Crore Accounts Opened Ac ross The Country Under Sukanya Samriddhi Account Scheme.

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India will celebrate 150th Anniversary of Mahatma Gandhi and allocation for such commemorations is 150 crores. 3% Education cess has been replaced by 4% Health and Education Cess.

Fiscal Deficit: Projection for 2018-19 – 3.3% It has been 4.1% during 2014-15, 3.9% during 2015-16, 3.5% during 2016-17 and 3.5% during 2017-18.

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