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Wednesday 1 February 2017

Union Budget 2017 Highlights

HIGHLIGHTS OF GENERAL BUDGET 2017-18 PRESENTED BY FINANCE MINISTER ARUN JAITELY.

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Budget highlights 2017 and notes for ssc, banking and civil services aspirants, download important points.

  • Lower Tax for income below five lakh rupees and medium & small enterprises; 10 percent surcharge on income over 50 lakh to one crore. 
  • No change in the service tax and some modifications in the Customs duty and Excise duty.
  • No change in the rail fare or freight rates, no new trains; Bio-toilets in all trains in two years; Greater private participation in Metro Rail. 
  • Scheme to cleanse political funding; Maximum cash donation limited to 2,000 rupees.  
  • Aadhar Enabled Payment System, Aadhar Pay to be launched.
  • Cash transactions limit fixed at three lakh rupees to curtail black-money; Major steps to promote digital economy. 
  • Incentives to promote affordable housing and real estate; One crore houses for houseless in rural areas by 2019; Adequate credit to farmers. 
  • Higher allocation of nearly 4 lakh crore rupees for railways, metro rail, road development and other infrastructure projects.  
  • Measures to stimulate growth and longer tax exemption period for start-ups. 
  • New proposals to promote youth welfare and skill.
  • Lower tax liability for banks on non-performing assets. 
  • Higher allocation to MGNREGA and other welfare Programmes.
  • Smokers have to pay more; Pan masala to cost dear.  
  • cashless transaction devices and renewable energy equipment to cost less; Mobile phones to cost more.
  • And, Fiscal deficit pegged at 3.2 percent of GDP are the highlights of the Union Budget including Railways for 2017-18.    

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