union budget 2018

New Delhi – Finance minister Arun Jaitley is presenting the Union Budget for 2018-19 in Parliament.

Here are the Live Updates-

Feb 01, 12:20 PM (IST)
Feb 01, 12:21 PM (IST)

He also proposes an inflation-linked revision of salary of Members of Parliament.

Feb 01, 12:23 PM (IST)
In 2017-18 the central govt will be received GST revenue of only 11 months and this will have a fiscal effect. There will also be a shortfall of non-tax revenue. The total revised estimated expenditure is Rs 21.57 lakh crore against 21.47 lakh crore.

We embarked upon the path of consistent reduction of the fiscal deficit. The revised fiscal deficit for 2017-18 is at Rs 5.95 lakh crore or 3.5% of GDP. Projecting fiscal deficit at 3.3% of GDP for 2018-19.

Feb 01, 12:25 PM (IST)
Feb 01, 12:26 PM (IST)
Feb 01, 12:29 PM (IST)
Feb 01, 12:33 PM (IST)
Feb 01, 12:33 PM (IST)
Feb 01, 12:36 PM (IST)

Feb 01, 12:36 PM (IST)

So finally, something for the middle class, that section of society that is usually the most ignored. Jaitley has said that the government has decided to allow a standard deduction of Rs 40,000 for salaried taxpayers, keeping in mind that they have been paying way more tax than individual business owners. 

The total number of salaried employees and pensioners who will benefit from these changes is pegged at 2.5 crores. 

Feb 01, 12:39 PM (IST)
Feb 01, 12:40 PM (IST)
Feb 01, 12:47 PM (IST)
Feb 01, 12:53 PM (IST)

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