Latest News of Union Budget for FY 2017-18

 
 There are highlights of Union Budget (Aam Budget & Railway Budget ) for Financial Years 2017-18 as per given below:-

Railway Budget for FY 2017-18 are as follows:-

 *For senior citizens, Aadhar cards giving their health condition will be introduced.

 * Steps will be taken to launch dedicated trains for pilgrimage and tourism.

 * Rail safety fund with corpus of Rs 100,000 crore will be created over a period of five years.

 * Rs 1.31 lakh crore for Railways for developmental work, which includes Rs 55,000 crore from   Budget.

 * A new metro rail policy will be announced, this will open up new jobs for our youth.

 * At least 25 stations expected to be awarded during 2017-18; 500 stations to be made friendly for differently abled- by providing lifts and escalators.

 * By 2019, all coaches of Indian Railways will be fitted with Bio-toilets.

 * Railways will integrate end to end transport solutions for selected commodities through partnership.

 * Service charges on e-tickets booked through IRCTC will be withdrawn.

 * Allocation for welfare of women and children stepped up from 1.56 lakh crore to 1.84 lakh crore.

 

 Aam Budget for FY 2017-18 are as Follows :-

1. Income Tax rate cut to 5 pc for individuals having income between Rs 2.5 lakh to Rs 5 lakh 
2. 10 pc surcharge on individual income above Rs 50 lakh and upto Rs 1 cr to make up for Rs 15,000 cr loss of due to cut in personal I-T rate.
3. 15 pc surcharge on income above Rs 1 cr to continue 
4. Of 3.7 cr individuals who filed tax returns in 2015-16, 99 lakh showed income below exemption limit 
5. Direct tax collection not commensurate with income and expendi ..
6.  Revenue deficit reduced to 2.1 pc from 2.3 pc for 2016-17
7. To construct one crore houses by 2019 for homeless. PM Awas Yojana allocation raised from Rs 15,000 cr to Rs 23,000 cr 
8.  100 pc electrification of villages to be completed by May 2018 
9.  27,000 cr on to be spend on PMGSY; 1 cr houses to be completed by 2017-18 for houseless 
10.  PM Kaushal Kendras will be extended to 600 districts; 100 international skill centres to be opened to help people get jobs abroad 
11.  The allocation for rural agri and all ..
12.  Govt pegs fiscal deficit target at 3.2 per cent for 2017-18 and 3 per cent for next year. 
13.  Monetary policy to be expansionary in major economies
14.   More steps will be taken to benefit farmers and the weaker sections; budget being presented during weak global economy
15. Pace of remonetisation has picked up; demonetisation effects will not spill over to next year  
16. Import duty on aluminium ores and concentrates raised to 30 pc from nil presently
17. Actual revenue loss on tax proposals Rs 22,700 cr; gain from additional resource mobilisation is Rs 2,700 cr
18.  Net revenue loss from direct tax proposals to be about Rs 20,000 cr
19.  Excise duty on pan masala containing tobacco (Gutkha) raised to 12 pc from 10 pc 
     
20.  Excise duty on non-filter cigarettes of length not exceeding 65 mm raised to Rs 311 per thousand from R ..
21. To make MSME companies more viable, govt proposes to reduce IT tax with annual turn over of Rs 50 core up to 25 per cent