Budget 2018: The government’s plan to merge three general insurance companies — National Insurance Company, United India Assurance Company and Oriental India Insurance Company — will create one of the largest general insurance entities.
Budget 2018: Finance minister Arun Jaitley in his Budget speech said, “In addition to tax concessions, I propose to extend the PMVVY up to March, 2020 under which an assured return of 8% is given by Life Insurance Corporation of India (LIC).
Budget 2018: The government’s decision to impose a 10% tax on distributed income by equity-oriented mutual funds is unlikely to impact the flow of money into the mutual funds industry, experts said.
Budget 2018: The move towards Universal Social Security by launching the National Health Protection Scheme to cover over 10 crore poor families, impacting approximately 50 crore people, by providing a coverage of Rs 5 lakh per family per annum is a big one.
Budget 2018: I rise to present the Budget for 2018-19. The government, led by the Prime Minister, Shri Narendra Modi, has successfully implemented a series of fundamental structural reforms. With the result India stands out among the fastest growing economies of the world.
Budget 2018: The rates of income-tax in the case of companies have been specified in Paragraph E of Part III of the First Schedule to the Bill. In case of domestic company, the rate of income-tax shall be twenty five per cent. of the total income if the total turnover or gross receipts of the previous year 2016-17 does not exceed two hundred and fifty crore rupees and in all other cases the rate of Income-tax shall be thirty per cent.
Budget 2018: Describing the budget as “pragmatic”, noted economist Arvind Panagariya today said the coverage of 100 million families for expenses up to Rs 500,000 under government-funded health care is the most significant programme announced by Union Finance Minister Arun Jaitley.
“We really haven’t had a chance to fully assess it. But, that said we welcome the fiscal 2019 budget targets, which has a fiscal deficit of 3.3 per cent of GDP which in our view returns budget to a path of gradual fiscal consolidation while keeping in mind the need to provide support to India’s needs and economic recovery,” William Murray, deputy spokesman, International Monetary Fund, told reporters.
Budget 2018: This Budget will ensure balanced development of the nation while at the same time it has specifically focused on the agriculture sector,” Mungantiwar said in a statement.
Budget 2018: Former prime minister Manmohan Singh today said it is not possible to double farmers’ income by 2022 until the agricultural growth is 12 percent. “The government says farmers’ income will be doubled by 2022. But it’s not possible until the agricultural growth is 12 per cent. Until we achieve that … It is just a hollow assurance,” Congress leader Ghulam Nabi Azad quoted Singh as saying.
Budget 2018: With maximum increase in allocation to the Smart Cities Mission, the Housing and Urban Affairs (HUA) ministry’s budgetary provisions have been pegged at over Rs 41,765 crore for the next fiscal, a hike of 2.82 per cent over 2017-18.
Budget 2018: Congress president Rahul Gandhi hit out at the government, saying only promises were made in the past four years and “thankfully” just one year of the Modi dispensation is left.
Budget 2018: The telecom sector is expected to create 4 lakh new jobs over period of 5 years and contribute significantly to GDP.
Budget 2018: Finance Minister Arun Jaitley today announced the government’s plan to build a tunnel through the Sela Pass located at an elevation of 13,700 ft which will ensure faster movement of troops in Tawang.
Railway Minister Piyush Goyal today said the national transporter would focus on technology this year to ensure safety on its network.
Budget 2018: Union minister Nitin Gadkari today welcomed the nearly Rs 2,000 crore hike in budgetary allocation to the water resources ministry and said the government will focus on expanding irrigation infrastructure and cleaning up the Ganga in 2018-19.
Budget 2018: The Government of India has presented the Annual Budget before the Parliament. The Budget 2018 has recognized the importance, power, and significance of emerging cyber technologies which are indeed contributing to making a strong and robust digital economy.
Budget 2018: Jaitley proposed a standard deduction of Rs 40,000 in lieu of the present exemption in respect of transport allowance and reimbursement of miscellaneous medical expenses.
Budget 2018: Disinvestment-bound Air India will receive only Rs 650 crore under the government’s turnaround plan in the next financial year, less than half of the amount allocated in the current fiscal. The lower allocation for the ailing carrier in the Budget 2018-19 that was presented today also comes at a time when the stake sale process is on.
Budget 2018: The Budget allocation for the next fiscal for the Prime Minister’s Office (PMO) has seen a marginal increase, while the fund for government hospitality and entertainment of foreign State guests has remained more or less the same as compared to the current financial year.
Budget 2018: Bankers have hailed the Budget as a holistic document addressing key issues to push growth, but have flagged concerns on expenditure overruns. Largest lender State Bank chairman Rajnish Kumar said the Budget is “very comprehensive” with key measures that will have a positive impact on various segments, including tenant farmers, 10 crore poor families and senior citizens.
Budget 2018: The financial markets seem to be quite disappointed with the budget; the bond market was disappointed with the fact that the fiscal deficit is much higher than market estimates. The Equity market got a bit of hiccup in form of reintroduction of long term capital gains tax.
Union Budget 2018: About Rs 192 crore has been allocated to the Ministry of Personnel in the 2018-19 Budget for providing domestic and foreign training to bureaucrats and augmenting necessary infrastructure.
Budget 2018: In the last Union Budget before the general elections, the Modi government decided to focus on something that’s never got its due in the past: Healthcare. Many developed countries provide free healthcare to their citizens. India lagged them.
When Finance Minister Arun Jaitley presented his fifth, post-GST era’s first, and present government’s last full Budget on Thursday, he dedicated his little fiscal room to farmers, senior citizens, salaried class, and the SMEs. But, the rising oil prices found no mention — neither in his speech, nor in the budget.
Budget 2018: The government will spend Rs 14.34 lakh crore in the rural areas in the year 2018-19 to generate employment of 321 crore person days and develop infrastructure, Finance Minister Arun Jaitley said today. Besides generating employment, this investment will lead to a construction of 3.17 lakh km of roads, 51 lakh new houses, 1.88 crore toilets.
Union Budget 2018: India Inc today said the ‘Bharat’ oriented Budget with a thrust on improving the rural economy will create jobs, encourage entrepreneurship and sets the tone for future growth. Sharing views on the Budget 2018-19, corporate honchos cheered measures like the Rs 5 lakh cover per family per year to 10 crore families for secondary and tertiary care hospitalisation, saying these would help the broader objective of universal healthcare.