union budget 2018 highlights, according to timings.

1. 2018 UNION BUDGET
OF INDIA
Presented By:
Aman Soni (4th Sem. BBA)
Robin George (2nd Sem. BBA)
Shreevadan Reddy (2nd Sem. BBA)
Devika Sarkar (2nd Sem. BBA)
Pratisha Swain (4th Sem. BBA)

2.  The 2018 Union budget of India was
the annual financial statement (AFS),
demand for grants, appropriation bill and
finance bill of India for the financial year
2018-19.
 The Union budget was presented to
the Parliament on 1 February 2018 by
Finance Minister Arun Jaitley.
INTRODUCTION

3. Finance Minister Arun Jaitley
unveiled his last full Budget in
Parliament today.
11.04 am: Finance Minister
Arun Jaitley starts presenting
the budget 2018-19.
11.07 am: Promised to
reduce poverty, expedite infra
creation.

4. GDP
 11.08 am: Achieved 7.5% average growth in
first 3 years of NDA government.
 11.08 am: Manufacturing sector is back on
growth path.
 11.09 am: 6.3% GDP growth signalled
turnaround in economy
 11.10 am: Export expected to grow at 15% in
FY18.
 11.13 am: DBT has reduced corruption &
cost of delivery.

5.  11.13 am: Focus is now on ease
on living after ease of doing
business.
 11.13 am: On track for GDP
growth of over 8%.
 12.24 pm: FY19 fiscal Deficit
target at 3.3% of GDP.
 12.30 pm: Revised fiscal deficit
target of 3.5% of GDP at Rs 5.95 lakh
crore for the current fiscal.
 12.34 pm: Government will aim to
lower debt to GDP ratio to 40%.

6. AGRICULTURE
 11.14 am: Emphasis on generating higher income for the farmers.
 11.15 am: MSP for Kharif crops to be 1.5X of cost of produce.
 11.16 am: Want farmers to earn 1.5x the cost of their produce.
 11.19 am: Setting up an agricultural market fund with corpus of Rs
2,000 crore.
 11.21 am: eNAM to be exempted from APMC regulation.
 11.22 am: Allocation to food processing to be doubled from Rs 715
crore last year to Rs 1400 crore in 2018-19.
 11.23 am: Food processing industry growing at average 8% per
annum.

7.  11.23 am: 470 APMCs connected to eNAM.
 11.25 am: Government proposes to launch
Operation Green for which sum of Rs 500 crore will
be allocated.
 11.26 am: Allocate Rs 10,000 crore for fisheries,
aqua cultural and animal husbandry funds.
 11.28 am: Allocate Rs 1,290 crore to National
Bamboo Mission.
 11.29 am: 8 crore poor families will be given free
gas connection under Ujjwala Scheme.
 11.30 am: Proposes to extend Kisan Credit Card
to fisheries & animal husbandry farmers.
12.50 pm: Propose to cut import duty on raw
cashews to 2.5% from 5%.

8. POOR SECTION
 11.31 am: Targets constructing 2 crore Toilets in FY19.
 11.34 am: Allocate Rs 16,000 crore to Pradhan Mantri
Saubhagya Yojana.
 11.42 am: National Health Protection Scheme for 10 crore
poor families.
 11.45 am: PMJBY to be expanded to all poor households.
 11.47 am: Rs 5 lakh medical insurance cover per year for 10
crore families across the country.
 11.48 am: Ayushman Bharat Programme a move towards
Universal Health Care Coverage.
 11.50 am: Rs 16,730 crore allocated for rural sanitation.

9. EDUCATION
 11.36 am: To initiate special integrated B-Ed
programme to teachers.
 11.37 am: Railway University to be set-up at
Vadodara.
 11.38 am: Total investment of Rs 1 lakh
crore for RISE.
 11.39 am: Two new Planning & Architecture
schools to be set-up in IITs.
 11.52 am: Setting up 24 new Government
medical colleges.

10. FUNDS
 11.51 am: Target Mudra Loans for Rs 3 lakh crore
next FY.
 11.51 am: Govt to establish a dedicated affordable
housing fund under National Housing Bank for priority
sector lending .
 11.53 am: MSMEs sector gets Rs 3,794 crore in
the form of capital support and interest subsidy.
 12.19 pm: PSU bank recap will allow banks to give
additional lending of Rs 5 lakh crore.
 12.56 pm: NHAI to make use of Toll-Operate-
Transfer model & InvITs to mobilise funds.

11. DEVELOPMENT
 11.55 am: Need investment of Rs 50 lakh crore for infrastructure
sector.
 11.58 am: 99 cities selected under Smart City Mission.
 11.59 am: Proposed construction of tunnels under the SELA
Pass.
 12.01 pm: Highway construction will exceed 9000 km by end of
FY18.
 12.03 pm: Confident of completing 9000 kms national highways to
be by 2018-19.
 12.06 pm: 99 smart cities have been selected with an outlay Rs
2.04 lakh crore.
 12.08 pm: Allocated Rs 60 crore to kick start the airport
expansion.
 12.11 pm: Allocation to Digital India doubled to Rs 373 crore.

12. RAILWAYS
 12.02 pm: Significant movement in achievement of the
railways.
 12.02 pm: Railway Capex for FY19 at Rs 1.48 lakh
crore.
 12.04 pm: Allocate Rs 17,000 crore for Bengaluru
metro network
 12.04 pm: Allocate Rs 11,000 crore for Mumbai rail
Network.
 12.07 pm: Govt to eliminate 4267 unmanned rail
crossings in broad gauge in 2 years.

13. CORPORATE
 12.13 pm: SEBI to mull asking large
companies to meet 25% debt from bond market.
 12.14 pm: Government to explore use of
Block Chain Technology for payments.
 12.18 pm: Government to evolve a scheme to
assign a Unique ID for companies.
 12.32 pm: Footwear & leather industry to get
benefits extended to Apparel industry.

14. SALARIES
 12.20 pm: Salary of President raised to Rs 5 lakh.
 12.22 pm: Allocate Rs 150 crore for
commemoration of Mahatma Gandhi.
 12.22 pm: Law to be introduced to fix MPs' salary
every 5 years indexed to inflation.
 12.23 pm: Proposes inflation-linked revision of
salary of Members of Parliament.

15. TAXES
 12.27 pm: 85.51 lakh new taxpayers have filed returns for FY17.
 12.29 pm: Direct taxes growth at 12.6% this year.
 12.33 pm: Corporate tax for companies with turnover up to Rs 250
crore cut to 25%.
 12.35 pm: No change in Personal income tax structure.
 12.36 pm: Standard deduction of Rs 40,000 for salaried taxpayers.
 12.38 pm: To set up comprehensive gold policy; to revamp Gold
Monetisation Scheme.
 12.38 pm: Number of tax payers increased to 8.27 crore from 6.47
crore.

16.  12.39 pm: Deduction for senior citizens with
critical illness raise to Rs 1 lakh.
 12.40 pm: 100% tax deduction to companies
with revenue of Rs 100 crore registered as
farmer producers.
 12.42 pm: Rs 19,000 crore revenue loss on
Direct tax.
 12.43 pm: Government levies long-term
capital gains tax of 10% for over Rs 1 lakh
investment.
 12.44 pm: Short-term capital gains tax
continues to be 15%.
 12.48 pm: Propose next Financial Year health,
education cess at 4%.
12.50 pm: Propose to amend income tax act
for electronic assessments.

17. HOSPITALITY
 11.40 am: Allocate Rs 1,200 crore for
Specialised Health Wellness Centre.
 11.41 am: Government allots Rs 9,975
crore for social security schemes.
 1 pm: Tourist facilities to be upgraded at
210 important monuments.