Union Budget 2018-19 recap: Get all updates here
With an agenda of “Transform, Energise and Clean India”, Union Finance Minister Arun Jaitley will present the budget in Parliament today.
Here are some of the key expectations from the budget:
- Reduce corporate tax rate to 25% from 30%
- Cut Minimum Alternative Tax to 15% from 18.5%
- Enhance tax deductions, exemptions for individuals
- May tax long-term capital gains in investments
- Establish fund to guarantee credit to encourage investment in agri sector
- Allocation of more funds for crop insurance schemes
With an agenda of “Transform, Energise and Clean India”, Union Finance Minister Arun Jaitley will present the budget in Parliament today.
Here are some of the key expectations from the budget:
- Reduce corporate tax rate to 25% from 30%
- Cut Minimum Alternative Tax to 15% from 18.5%
- Enhance tax deductions, exemptions for individuals
- May tax long-term capital gains in investments
- Establish fund to guarantee credit to encourage investment in agri sector
- Allocation of more funds for crop insurance schemes
Latest Updates
The budget proposes an institutional mechanism to fix the emoluments of the elected members, thereby addressing the criticism that they fix their own salaries: FM Arun Jaitley
Step by step, in every budget, I have been putting surplus money in the hands of the middle-class taxpayer: FM Jaitley
This year's Budget on the GST revenue is a 12 month Budget with an 11-month revenue: FM
Finance Minister Arun Jaitley addresses the media after presenting the Union Budget 2018-19
From food processing to fiber optics, roads to shipping, youth to senior citizen, rural India to Ayushmaan Bharat, Digital India to Start Up India, this budget strengthens hopes and aspirations of crores of Indians: Prime Minister Narendra Modi
This budget will accelerate economic growth, it is focused on all sectors: PM Modi
I congratulate the Finance Minister for the decision regarding Minimum Support Price. I am sure it will help the farmers tremendously: PM Modi
Sensex at 35,526.23, down by 438.79 points
Propose to tax long term capital gains exceeding Rs 1 lakh at 10% without indexation: Arun Jaitley
Finance Minister Arun Jaitley re-introduced the long-term capital gains (LTCG) tax on equities, while the short-term capital gains (STCG) tax was maintained at 15 per cent.
Mobile phones to become expensive
Custom duty on mobile phones increased to 20% from 15%: Arun Jaitley
Propose to introduce tax on distributed income by equity-oriented mutual funds at 10%: FM Jaitley
National Insurance Co, Oriental Insurance Co and United Assurance Co to be merged into one entity and subsequently listed.
FM proposed to extend 25% corporate tax rate to companies with revenue up to Rs 250 crore.