New Delhi, Union Budget 2017-18: The Union Minister for Finance and Corporate Affairs, Arun Jaitley presented the General Budget 2017-18 in Parliament today 01-February,2017

Some of the Important HIghlights

1. Budget’s thrust on stimulating growth, relief to Middle Class, Affordable Housing, Curbing Black Money, promoting Digital Economy, transparency of Political Funding and simplification of Tax Administration 


2. In order to make ,MSME companies more viable, income tax for smaller companies with annual turnover upto Rs. 50 Crore is reduced to 25%  

3. Fiscal deficit for 2017-18 pegged at 3.2% of GDP and to achieve 3% in 2018-19  

4. Agriculture to grow more than 4 percent as Government announces a slew of pro-farmer measures in General Budget 2017-18   

5. Rural, Agriculture and Allied sectors to get about Rupees, One Lakh 87 thousand crore in the Budget 2017-18 , 24 % higher than the previous year  

6. Mahila Shakti Kendra will be set-up at village level  

7. Allocation for welfare of SC, ST and Minorities to be enhanced   

8. Political Parties cannot receive donation above Rs. 2,000 in cash from one person; entitled to receive donations by cheque or digital mode from their donors;. Have to file its Income-Tax Return within the prescribed time limit  

9. First combined Budget of Independent India, that includes Railways, presented  

10. Total allocation for Infrastructure Development stands at Rs. 3,96,135 crores in 2017-18   

11. Finance Minister announces Measures for Promoting Affordable Housing and Real Estate Sector  

12. Finance Minister reduces the tax rate from 10 to 5 per cent for individual income between Rs 2.5 to Rs 5 lakh.   

13. Finance Minister announces several measures for revenue mobilization in the General Budget 2017-18 along with a reduction in tax rates for small tax payers   

14. Finance Minister announces several anti graft and rationalisation measures in the field of Income tax   

15. Demonetisation will lead to bigger, cleaner and real GDP, says Jaitley   

16. Budget gives a major push to Digital Economy; proposes No Cash Transaction above Rs 3 lakh   

17. General Budget 2017-18 proposes Reduction in Customs and Excise for Renewable Energy Sector, and Cashless Transaction Devices  

18. GST Council has finalised its recommendations on almost all the issues based on consensus, says Finance Minister in his Budget Speech   

19. Finance Minister unveils string of measures towards Ease of Doing Business   

20. FIPB to be phased-out in the next fiscal, Bill to be tabled in Parliament soon to crack down on ponzy schemes   

21. Shares of Railway PSEs - IRCTC, IRFC and IRCON to be listed   

22. Allocation for welfare of women and children increased from Rs 1,56,528 crores in BE 2016-17 to Rs 1,84,632 crores in 2017-18 in General Budget 2017-18   

23. Affordable Housing will be given Infrastructure Status   

24. Action plan to eliminate Kala-Azar and Filariasis by 2017, Leprosy by 2018 and Measles by 2020   

25. Legislative reforms to be undertaken to Simplify, Rationalize and Amalgamate the existing Labour Laws  

26. A System of measuring Annual Learning Outcome will be Introduced  

27. Innovative Fund for Secondary Education to Encourage Local Innovation   

28. Reforms will be undertaken in UGC; Good Quality Institutions would be enabled to have greater Administrative and Academic Autonomy   

29. SWAYAM” Platform will be launched to leverage Information Technology  

30. National Testing Agency for Entrance Examinations in Higher Education Institutions   

31. Pradhan Mantri Kaushal Kendras to be extended to all over the Country   

32. Next Phase of Strive to be Launched at a Cost of Rs. 2200 Crore  


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About The Author

Chetan Sharma is an Indian fact-checker and news writer, writing news for Ayupp since 2014.

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