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Budget 2018: Jaitley says his budget benefits all; BJP calls it 'sabka saath, sabka vikas'
This Budget assumes even more importance as it is the last full budget of the Narendra Modi government, before the next Lok Sabha elections, expected in 2019.
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FM Arun Jaitley on Thursday presented the current NDA government's fifth Budget, seeking to address agriculture distress, job creation and growth boost. The Finance Minister said that the government is committed to the welfare of farmers and agriculture sector. While the government did not announce any change in the personal Income Tax structure, it did provide some relief to the salaried class and senior citizens.
Stay with us for the live updates.
A revolutionary measure taken in health sector. Almost 50 Crore people, 40% of the population to be benefited by the scheme. For the 1st time such a major health scheme has been announced in India, says Madhya Pradesh Chief Minister Shivraj Singh Chouhan on National Health Protection Scheme.
It would have been better had people been provided relief in Income Tax up to a limit of Rs 5 Lakh. I'm sure a decision will be taken in this regard soon. This was a nation building budget, says Baba Ramdev.
BJP president Amit Shah addresses media, says the government has made an announcement that will benefit the farmers. They will now get one and half times more minimum support price.
The excise duty on petrol and diesel has been converted to cess, therefore, there is no impact on the fuel prices, says government.
There are some factors in Budget that benefit all, for instance infrastructure development. This is for the first time the contribution of salaried class has been singled out, then we have a whole chapter on senior citizens and they have been given several benefits, and small and medium enterprises have also been given benefits, says Finance Minister Arun Jaitley.
A social security knit has to be created, and we need resources for that, says Finance Minister Arun Jaitley.
The mega health scheme we have announced is a very big scheme, and under that scheme, 10 crore families from across the country would be selected, says Finance Minister Arun Jaitley.
Our priority was to help those who are not privilleged, says Finance Minister Arun Jaitley.
This budget blends fiscal prudence with the requirement and needs of the economy today, says Finance Minister Arun Jaitley.
We are disappointed with the Union Budget presented today. Many pressing state issues like Railway Zone, Polavaram project funding, Funding for capital Amaravati and other pending issues of Andhra Pradesh are not addressed in the budget, says YS Chowdary, MoS Science & Technology, TDP
Jaitley: We focussed on those areas in this Budget where we were not doing well, like the agriculture sector
Capital infrastructure is what keeps the economy going, says Finance Minister Arun Jaitley.
"I want congratulate Prime Minister Narendra Modi on announcing the world's biggest national health protection scheme. This budget is for the development of the poor, for farmers and increasing their income, senior citizens and women," says Union Minister Smriti Irani.
PM Modi: We have imitated this 'ease of living' feeling in government's Ujjwala Yojna too. This scheme is not just helping women get rid of the smoke in kitchens, it is also helping in their empowerment.
PM Modi: From food processing to fiber optics, roads to shipping, youth to senior citizen, rural India to Ayushmaan Bharat, Digital India to Start Up India, this budget strengthens hopes and aspirations of crores of Indians
PM Modi: I congratulate the Finance Minister for the decision regarding MSP. I am sure it will help farmers tremendously
PM Modi: The farmers, Dalits, tribal communities will gain from this Budget. It will bring new opportunities for rural India
PM Modi: This budget has devoted attention to all sectors, ranging from agriculture to infrastructure
PM Modi hails Budget 2018, says it is farmer friendly, common citizen friendly, business environment friendly and development friendly. "It will add to 'Ease of Living'," he said.
Propose to make changes in Custom Act 1962 to enhance ease of business, says Finance Minister Arun Jaitley.
Propose to increase custom duty on mobile phone from 15% to 20%, some parts of television to 15%, says Finance Minister Arun Jaitley.
On indirect tax, my budget proposals are mainly on the custom side, says Finance Minister Arun Jaitley.
E-assessment will transform the system of functioning of the Income Tax Department, says Finance Minister Arun Jaitley.
Propose to extend 25% corporate tax rate to companies with revenue up to Rs 250 crore, sas Finance Minister Arun Jaitley.
Senior citizens can claim Rs 50,000 for general medical Expenditure, sas Finance Minister Arun Jaitley.
Propose to allow a standard deduction of Rs 40,000 for transport and healthcare expenses, says Finance Minister Arun Jaitley.
Automatic revision of MPs emoluments every 5 years indexed to inflation, says Finance Minister Arun Jaitley.
Excess revenue collected from personal income tax at Rs 90,000 crore, says Finance Minister Arun Jaitley.
100% deduction to companies registered as farmer producer companies, says Finance Minister Arun Jaitley.
Effective tax payers now 8.27 crore, against over 6.47 crore in 2013-14, says Finance Minister Arun Jaitley.
Demonetisation was received as imandari ka utsav by those who are honest, says Finance Minister Arun Jaitley.
Huge increase in the number of taxpayers in the last financial year, says Finance Minister Arun Jaitley.
In 2017-18 the central government will receive GST benefits for just 11 months, and it will have its impact, says Finance Minister Arun Jaitley.
All steps will be taken to eliminate use of cryptocurrencies, says Finance Minister Arun Jaitley.
A comprehensive gold policy, gold monetisation scheme will be revamped, says Finance Minister Arun Jaitley.
Disinvestment target pegged in 2017-18 has been achieved, I am setting a target of 80,000 crore for 2018-19, says Finance Minister Arun Jaitley.
Aadhaar is essential, every individual enterprise will get unique ID, says Finance Minister Arun Jaitley.
System of toll payment by cash being replaced with digital means, says Finance Minister Arun Jaitley.
To secure India's defence, we are developing connectivity infrastructure in border areas. Rohtang tunnel has been completed to provide all-weather connectivity to Ladakh, says Finance Minister Arun Jaitley.
Dept of Telecom will support indigenous 5G programme of IIT Chennai, says Finance Minister Arun Jaitley.
Regional air connectivity scheme to connect 56 unserved airports, says Finance Minister Arun Jaitley.
Hawai chappal pehenne waale log bhi ab hawai jahaaz ki yatra karenge, says Finance Minister Arun Jaitley.
For bullet train project, an institute is coming up in Vadodara for training regarding the same, says Finance Minister Arun Jaitley.
Mumbai transport system is being expanded at the cost of Rs 11,000 crore, says Finance Minister Arun Jaitley.
Re-development of 600 major stations has been taken up. All major stations to have escalators, CCTVs and wifi facilities, says Finance Minister Arun Jaitley.
99 Smart cities selected to be developed with an outlay of Rs 2.04 lakh crore, says Finance Minister Arun Jaitley.
10 tourist sites to be developed into iconic tourist destinations, says Finance Minister Arun Jaitley.
Women's EPF contribution reduced to 8% for first 3 years of employment. no changes in employer contribution, says Finance Minister Arun Jaitley.
Govt will contribute 12% of wages of new employees in EPF for all sectors for the next 3 years, says Finance Minister Arun Jaitley.
Job creation has been at the core of the government's planning, says Finance Minister Arun Jaitley.
76% Mudra yojana loan accounts are of women, SCs, STs and OBCs. Allocating 3 lakh crore for the purpose, says Finance Minister Arun Jaitley.
Online loan servicing facilites for MSMEs will be revamped, says Finance Minister Arun Jaitley.
Pradhan Mantri Jan Dhan Yojana will be expanded to provide pension schemes through these accounts, says Finance Minister Arun Jaitley.
24 new government medical colleges and hospitals by upgrading existing hospitals in the country, says Finance Minister Arun Jaitley.
Rashtriya Swastha Beema Yojana provides coverage of Rs 30,000 currently. We are now launching flagship healthcare scheme to cover 10 crore vulnerable families, 50 crore beneficiaries, providing Rs 5 lakh per family per year for healthcare/hospitalisation, says Finance Minister Arun Jaitley.
1.5 lakh centres to bring healthcare closer to people under National Health Policy. They will also provide free medicines and diagnostic service. Allocating Rs 1200 crore for the purpose, says Finance Minister Arun Jaitley.
Rs 14.34 lakh crore rupees to be spent for rural infrastructure, says Finance Minister Arun Jaitley.
We will have Eklavya schools, at par with Navodaya vidyalayas, says Finance Minister Arun Jaitley.
Digital intensity in education to be increased. Technology will be used more to provide best quality education to all, including tribal children, says Finance Minister Arun Jaitley.
Quality of education still a cause of concern, we plan to treat education holistically, says Finance Minister Arun Jaitley.
Assist and provide opportunity to every Indian to fulfill their economic desires, says Finance Minister Arun Jaitley.
Ground water irrigation scheme - Har khet ko paani - Rs 2600 crore for the purpose, says Finance Minister Arun Jaitley.
By 2022, every poor should have their own home. We have started Pradhan Mantri Awas Yojana. Over 1 crore houses are being built in rural areas and 37 lakh in urban areas, says Finance Minister Arun Jaitley.
We plan to build 2 crore more toilets in the next fiscal year, says Finance Minister Arun Jaitley.
Rs 16,000 crore being spent to provide free electricity connection to 4 lakh poor families under Pradhan Mantri Saubhagya Yojana, says Finance Minister Arun Jaitley.
This government is bothered about small as well as big problems of poor, we had launched Ujjwala yojana. Now 8 lakh poor women will get free LPG connection, says Finance Minister Arun Jaitley.
Air pollution in Delhi NCR - special scheme will be implemented in consultation with Haryana and Punjab to tackle this issue, says Finance Minister Arun Jaitley.
Many farmers are using solar power, the government will encourage this practice and offer them subsidies, says Finance Minister Arun Jaitley.
Rs 1290 crore to promote bamboo production, with a restructured plan, says Finance Minister Arun Jaitley.
I propose to extend Kisan credit card to fisheries and animal husbandary farmers, says Finance Minister Arun Jaitley.
Operation Green to help rural farmers' needs like food storage, crop distribution, says Finance Minister Arun Jaitley.
An Agricultural Market Development Fund with a corpus of 2000 crore will be set up for developing agricultural markets, says Finance Minister Arun Jaitley.
Niti Aayog is preparing a scheme for the benefit of the farmers so that they get adequate prices for their crops, says Finance Minister Arun Jaitley.
The Minimum Support Price of all crops shall be increased to at least 1.5 times that of the production cost, says Finance Minister Arun Jaitley.
Our government does not work on the ideology of working in parts, we aim to find overall solutions to problems, says Finance Minister Arun Jaitley.
Arun Jaitley says BJP in its manifesto had said that it will support the farmers. Opposition parties voice their dissent against the mention of party manifesto in Budget speech.
Several youth have benefitted with moves like self attestation, says Finance Minister Arun Jaitley.
Our government has worked a lot in healthcare sector with availability of economical medicines and cap of stents, says Finance Minister Arun Jaitley.
Our government has moved ahead of ease of doing business, and is not focussing on ease of living for the people of the country, says Finance Minister Arun Jaitley.
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