Union Budget 2017-18: PERSONAL INCOME-TAX

 Union Budget 2017-18: PERSONAL INCOME-TAX

1. Existing rate of taxation for individual assesses between income of 2.5 lakhs to 5 lakhs reduced to 5% from the present rate of 10%

Union Budget 2017-18: TRANSPARENCY IN ELECTORAL FUNDING

 Union Budget 2017-18: TRANSPARENCY IN ELECTORAL FUNDING

1. Need to cleanse the system of political funding in India
2. Maximum amount of cash donation, a political party can receive, will be 2000/- from one person.

Union Budget 2017-18: DIGITAL ECONOMY

Union Budget 2017-18: DIGITAL ECONOMY

1. 125 lakh people have adopted the BHIM app so far. The Government will launch two new schemes to promote the usage of BHIM; these are, Referral Bonus Scheme for individuals and a Cashback Scheme for Merchants

Union Budget 2017-18: FINANCIAL SECTOR

 Union Budget 2017-18: FINANCIAL SECTOR

1. Foreign Investment Promotion Board to be abolished in 2017-18 and further liberalisation of FDI policy is under consideration

Union Budget 2017-18: INFRASTRUCTURE

 Union Budget 2017-18: INFRASTRUCTURE

1. For transportation sector as a whole, including rail, roads, shipping, provision of ` 2,41,387 crores has been made in 2017-18.

2. For 2017-18, the total capital and development expenditure of Railways has been pegged at ` 1,31,000 crores. This includes ` 55,000 crores provided by the Government

Union Budget 2017-18: THE POOR AND THE UNDERPRIVILEGED

Union Budget 2017-18: THE POOR AND THE UNDERPRIVILEGED

1. Under Maternity Benefit Scheme ` 6,000 each will be transferred directly to the bank accounts of pregnant women who undergo institutional delivery and vaccinate their children

Union Budget 2017-18: YOUTH

Union Budget 2017-18: YOUTH  

1. To introduce a system of measuring annual learning outcomes in our Schools.
2. SWAYAM platform, leveraging IT, to be launched with at least 350 online courses. This would enable students to virtually attend courses taught by the best faculty

Union Budget 2017-18: RURAL AREAS

1. Against target of 5 lakh farm ponds under MGNREGA, 10 lakh farm ponds would be completed by March 2017. During 2017-18, another 5 lakh farm ponds will be taken up

Union Budget 2017-18: FARMERS

1. Target for agricultural credit in 2017-18 has been fixed at a record level of ` 10 lakh crores.
2.Farmers will also benefit from 60 days’ interest waiver announced on 31 Dec 2016

Union Budget: Key Features of Budget 2017-2018

Key Features of Budget 2017-2018

INTRODUCTION

1. Inflation brought under control. CPI-based inflation declined from 6% in July 2016 to 3.4% in December, 2016.

2. Economy has moved on a high growth path. India’s Current Account Deficit declined from about 1% of GDP last year to 0.3% of GDP in the first half of 2016-17. FDI grew 36% in H1 2016-17

Finance Minister Arun Jaitley Presented Economic Survey 2016-17 in the Parliament

Finance Minister Arun Jaitley Presented Economic Survey 2016-17 in the Parliament

The Indian Economy has sustained a macro-economic environment of relatively lower inflation, fiscal discipline and moderate current account deficit coupled with broadly stable rupee-dollar exchange rate. The Economic Survey 2016-17 presented in the Parliament today by the Union Finance Minister Arun Jaitley states that such a sustenance is despite continuing global sluggishness.

Income Tax Department (ITD) launches Operation "Clean Money"

 Income Tax Department (ITD) launches Operation Clean Money

Income Tax Department (ITD) has initiated Operation Clean Money, today. Initial phase of the operation involves e-verification of large cash deposits made during 9th November to 30th December 2016. Data analytics has been used for comparing the demonetisation data with information in ITD databases

RBI Gives Final License to India Post to Start Payment Bank Operations

RBI Gives Final License to India Post to Start Payment Bank Operations. India Post has received payments bank licence from the Reserve Bank of India to start banking operations payment bank India Post Payment Bank (IPPB).

Miss France Iris Mittenaere wins Miss Universe

France’s Iris Mittenaere was crowned the Miss Universe. Haiti's Raquel Pelissier was placed the first runner-up, while Colombia's Andrea Tovar finished as the second runner-up.

Australian Open: Roger Federer beats Rafael Nadal to win 18th Grand Slam title

Australian Open: Roger Federer beats Rafael Nadal to win 18th Grand Slam title. Roger Federer beat Rafael Nadal from 6-4, 3-6, 6-1, 3-6, 6-3 for a fifth Australian Open title and 18th grand slam success overall.