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Read more about From essential commodities to tax slab, what you can expect from Jaitley on Business Standard. The financial budget is all set to be announced on Feb 1, so before you get the inside detail of the upcoming budget here we bring to you the possibilities of what you will get.
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you can expect from Jaitley
The financial budget is all set to be announced on Feb 1, so before you get the
inside detail of the upcoming budget here we bring to you the possibilities of
what you will get.
As the Union Budget 2018 is going to be announced by our Finance minister Arjun
Jaitely in the hope of some betterment. The financial budget is all set to be announced
on Feb 1, so before you get the inside detail of the upcoming budget here we bring to you
the possibilities of what you will get. Needless to say, the budget will always hold
importance in the life of middle class and lower class people the most. So keeping them
as our target audience lets take a look at few important aspect of people's life which will
be affected by the upcoming budget. Having earlier said that by our honorable Prime
minister Narendra Modi that this year's budget would fulfill the expectations of
common people, following which the commoners have a high expectation from the
current government. Talking about the upcoming budget, it is being said that there is a
lot of surprise in the store for the common people. From tax slabs to essential
commodities the government has paid an extra attention to the important sectors.
Revision of Tax Slab: People are eagerly waiting for the government to raise the
income tax limit from Rs 2.5 lakh per annum to Rs 3 lakh. Arun Jaitley has hinted at
some relief for taxpayers. Recently talking in an event, Jaitley said, "In income tax, the
base has become larger. It is bound to enlarge. And, therefore, charging higher rates
from few selected groups - which has traditionally been done - is an area which has been
changing," reports a leading news portal.
Focus on sectors like agricultural and infrastructure: Budget 2018 could see
the announcement of more road, railways, seaport and airport projects. Apart from the
infrastructure, Jaitely also holds special importance in the area of Agriculture. There
might be hope for the rural class to taste the victory as the 2018 budget is expected to be
growth accelerated, employment generated. It will also improve the agricultural income.
Some of the major highlights are:
1- Establish a fund to guarantee credit to encourage investment in the agriculture sector
2- Allocate more funds for crop insurance schemes
3- Reduce fertiliser subsidies
Positive push to the gems and jewelry sector:
There is an expectation to give a positive push to the gem and jewelry sector. Several
media reports suggest that there is a hope to reduce the import duty on Gold by 4
Others sectors to get benefit this financial budget:
Apart from the agricultural and rural, economic sectors like healthcare, education and
housing will also get some much-needed boost for their respective field.