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Highlights of Budget 2018-19
Updated 27 Feb 2018

No personal income tax changes proposed in Budget 2018

The Sports Ministry budget has been increased by 258 crore 13 % as against the 22% hike last year.

Allocation of Rs 2,150 crore to the Ministry of Tourism under .

Allocation of 5.97 lakh crore INR for infrastructure is welcome as it reaffirms continued funding of various initiatives in roads, railways and urban infrastructure.

Main
Points
No personal income tax changes proposed in Budget 2018
World’s largest Health Protection Scheme covering over 10 crore poor and vulnerable families launched with a family limit upto 5 lakh rupees for secondary and tertiary treatment.

 • 100% tax deduction is allowed to co-operative societies .

Corporate Tax of 25% extended to companies with turnover up to Rs 250 cr in financial year 2016-17 .

Senior citizens to get Rs 50,000 per annum exemption for medical insurance under Sec 80D .

Rs 7.5 lakh per senior citizen limit for investment in interest-bearing LIC schemes doubled to Rs 15 lakh .

Govt makes PAN mandatory for any entity entering into a financial transaction of Rs 2.5 lakh or more. 

Customs Duty on certain products, such as mobile phones and televisions has been increased, to provide a fillip to 'Make in India' .

Customs duty on sunglasses, cigarette lighter, toys, bus and truck tyres, select furniture hiked. 

Customs duty on imitation jewellery hiked from 15% to 20%.

Import duty on LCD/LED/OLED panels, parts of TVs hiked to 15%; duty on smart watches, wearable devices, footwear doubled to 20%.

 • Extend the facility of Kisan credit card to fisheries and for animal husbandry 

8 crore poor women will get new LPG connections.

 • PM Saubhagya Yojana: 4 crore poor people will get power connection. 

1 cr houses to be built under Pradhan Mantri Awas Yojana in rural areas 

Govt gives Rs 9,975 crore for social security schemes for the next fiscal year. 

Rs. 1 lakh crore allocated to revitalisation and upgradation of education sector. Promoting learning based outcomes and research. 

PM reasearch fellows: Govt will identify 1000 Btech students each years and provide them to do PHDs in IIT and IISc, while also teaching undergraduate students once a week at that time.

 • World’s largest Health Protection Scheme covering over 10 crore poor and vulnerable families launched with a family limit upto 5 lakh rupees for secondary and tertiary treatment.

Loans to Women Self Help Groups will increase to Rs.75,000 crore in 2019 from 42,500 crore last year.

Two New Funds of Rs10,000 crore announced for Fisheries and Animal Husbandary sectors;   Re-structured National Bamboo Mission gets  Rs.1290 crore.

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