Union Budget highlights

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

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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