2. HIGHLIGHT RELATED TO INCOME TAX
ACT
• The exemption of interest income on bank
deposits hiked to Rs 50,000 for senior citizens.
• The government has announced Rs 40,000
deduction for transport, medical
reimbursement for salaried class.*
• Arun Jaitley brings in tax on LTCG; 10% tax on
equity investments of over Rs 1 lakh*
3. OTHER HIGHLIGHTS
• India is $2.5 trillion economy at present and
become the fifth largest in the world from the
seventh largest currently.
• Government increased excise duty on mobile
phones to 20% from 15%.
4. Cont.
• Do not consider Cryptocurrencies as legal tender
and will take measures, will explore block chain.
• ’Operation Greens’ launched on the lines of
‘Operation Flood,’ the budget 2018 said.
• Cooking gas to be given free to poor under PMUY,
4 crore unconnected being provided electricity
connection
• Farmers produce to get 1.5 times cost of produce
as per Budget 2018.
5. Cont.
• To develop agricultural markets, agri-market
development fund with a corpus of 2000 crore
to be established for developing agricultural
markets.
• Budget 2018-19 estimates assume real GDP
growth of 7.2 percent.
