Nirmala’s novel approach — Aspirational India, Economic growth, Caring Society

• New I-T slabs for taxpayers who forgo exemptions/rebates
• Taxpayers charter on cards; dividend tax for cos goes
• Increase in deposit cover in banks from Rs1 lakh to Rs 5 lakh
• Import duty up; kitchenware, footwear, furniture to cost more

New personal tax SLABs*

• Income up to Rs 2.5 lakh Nil
• Rs 2.5 lakh to Rs 5 lakh 5%
• Rs 5 lakh to Rs 7.5 lakh 10%
• Rs 7.5 lakh to Rs10 lakh 15%
• Rs 10 lakh to Rs 12.5 lakh 20%
• Rs 12.5 lakh to Rs15 lakh 25%
• Income above Rs15 lakh 30%

Fiscal deficit target 3.5%

• Fiscal deficit target fixed at 3.5%
• MNREGA allocation cut by Rs10,000 cr
• Rural roads outlay up by Rs7,000 cr
• Rs 12,300 cr for Swachh Bharat to sustain open defecation-free move
• Rs 3.6 lakh cr for water conservation
• Rs 1,480 cr for National Technical Textiles Mission with 4-year execution period
• Old slabs stay

Key Outlays

• Rs 3.37 L cr Marginal hike in defence allocation
• Rs 1.7 lakh cr spending planned for transport infrastructure Rs85,000 cr for welfare of Scheduled Castes/OBCs; Rs 53,700 cr for Scheduled Tribes
• Rs 35,600 cr for nutrition-related programmes and Rs 28,600 crore for women
• Rs 30,757 cr for Jammu and Kashmir, Rs 5,958 cr for Ladakh

Railways

• Rs 70,000 cr budgetary support, Rs 1.61 lakh cr capex; paltry 3% rise in allocation
• Revenue expenditure, including estimated Rs 92,993.07 cr salary payout, a headache
• A large solar power capacity alongside rail tracks on land owned by the Railways
• 4 stations to be redeveloped & 150 passenger trains to be operated via public-private-partnership (PPP) mode
• Introduction of more Tejas-type trains to connect iconic tourist destinations
• 148-km-long Bengaluru suburban transport project at Rs18,600 crore
• National cold supply chain for ‘perishables’; Refrigerated coaches in express, freight trains

SENSEX TANKS 988 POINTS

This is fourth biggest fall ever
Closes at 39,735.53

• I-T slab rejig stokes fears of lower inflows in investment avenues
• Proposed dividend distribution tax to investors adds to negative sentiment
• Nifty sinks 300.25 points to 11,661.85

COSTLIER

• Butter ghee, butter oil, edible oils, peanut butter, whey, maize, sugar beet seeds, preserved potato, chewing gum, dietary soya fibre, isolated soya protein, walnuts (shelled)
• Footwear, shavers, hair clippers, hair-removing appliances, kitchenware, water filters, articles of porcelain/china, rubies, emeralds, sapphires, rough coloured gemstones
• Combs, hairpin, curling pins, curling grips, hair curlers, fans, portable blowers, water heaters and immersion heaters
• Electric irons, food grinders, ovens, cookers, cooking plates, boiling rings, grillers and roasters, coffee and tea makers and toasters
• Electro-thermic fluid heaters, devices for repelling insects and electric heating resistors, furniture, lamps and lighting fittings, toys, stationery items
• PCBA of cellular mobile phones, display panel and touch assembly, fingerprint readers for use in cellular mobile phones
• Excise duty on cigarettes, hookah, chewing tobacco, and tobacco extracts
• Artificial flowers, bells, gongs, statuettes & trophies

CHEAPER

• Sports goods, pure-bred horses, electric vehicles, newsprint & microphone

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