Some key highlights from the Union Budget 2018

INDORE, India - Feb. 1, 2018 - PRLog -- Finance Minister Arun Jaitely is presenting the Union Budget-2018, which would be the last full-fledged Budget of the Modi government and people all over India are eagerly watching the updates. Finance Minister stressed on the structural reform put into action by PM Narendra Modi that have facilitated the govt to positively transform India in bringing new heights.

Following are some of the Key Highlight-updates during the Mid-day of its presentation:

Customs duty on mobile phones raised to 20 percent from 15 percent, whereby Mobile phones become costly.

Fixed deposit and post office interest will be exempted till Rs 50,000. Long term capital gains beyond Rs 1.00 lakh will attract 10 percent tax.

100 percent tax deduction for companies registered as farmer producers with revenue capital of Rs 100 Crore.

Revised financial deficit estimate in the fiscal 2018 is Rs 5.95 Lakh Crore, which is 3.5 percent of GDP.

Government is setting up comprehensive gold policy to refurbish gold monetization scheme, and will also find ways to use block chain technology to maintain the digital economy and does not support use of crypto-currencies used as a medium for illegitimate transactions.

Rs 5.35 lakh Crore fund accumulation by National Highways Authority of India through SPVs/ Infrastructure Investment Trusts for 34,000 km road network development through Bharat-Mala project.

Women contribution to Employment Provident Fund reduced to 8% for first 3 years of employment.

Govt to allocate Rs 11 Lakh Crore for Institutional credit for farm sector in fiscal 2018-19 and provide Rs 2,600 Crore for assured irrigation facility. A fund of Rs 200 Cr has been created to maintain organized horticulture industry. 100 percent deduction of profits shall be given to farmer producer companies for a term of 5 years so as to encourage professional mechanism in post-harvest activity.

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