Indian Finance minister Mr Arun Jaitley presented the union budget for 2018-2019 yesterday. We are giving here some of the most significant points that you should know about the new Budget.
- Finance Minister Arun Jaitley announced a standard deduction of Rs. 40,000 in place of exemptions allowed for medical reimbursement (Rs. 15,000) and transport allowance (Rs. 19,200).
- The medical insurance premium has been steeped in Rs. 50,000/- for senior citizens. Senior citizens with critical illnesses are eligible for a deduction of Rs 1 lakh.
- President’s salary hiked to 5 lakh a month, Vice President’s to 4 lakh a month, Governor’s to 3.5 lakh a month.
- Rs 2000 crore set for investment in agricultural market and infrastructure.
- Loan target for agriculture increased from 8.5 lakh crore to 11 lakh crore rupees
- 4 crore people to get free power connections under Saubhagya Yojana scheme.
Arun Jaitley delivered the speech in both English and Hindi
Live Coverage from the Lok Sabha – Union Budget 2018-19 https://t.co/ty740gs010
— Arun Jaitley (@arunjaitley) February 1, 2018