BUDGET 2017-2018
Hon'ble Finance Minister of India, Mr. Arun Jaitley has presented the Union Budget for 2017-18 today (i.e. 01.02.2017). It's the 1st time that both Union Budget and Railway Budget were presented together at the cabinet. Another interesting fact is that the budget for this year has been announced early so that the implementation of the work mentioned under it can be done in time. The budget includes several perks, schemes, and funds allocation for salaried employees, farmers, poor, women, children, youth, senior citizens and rural people of the country. The major announcement been made under the budget speech by Finance Minister is reduction of income tax rate from existing 10% to 5% for salaried employees who have annual income of INR 2,50,000 to 500,000. The norm of planned and non-planned expenditures has been done away with. Here are other highlights from today's budget presented at the parliament.