The 2018 Union budget of India was the annual financial statement, demand for grants, appropriation bill and finance bill of India for the financial year 2018-19. It was presented to Parliament on 1 February 2018 by Finance Minister Arun Jaitley. Overview: The GDP grew at 6.3 per cent in the second quarter of 2017-18 and is expected to grow at 7.2-7.5 per cent in the second half of 2017-18. Growth for 2018-19 is forecasted at 7.4 per cent by the International Monetary Fund (IMF). Exports are expected to grow at 15 per cent in 2017-18. Fiscal deficit target for 2018-19 is set at 3.3 per cent of the GDP. Fiscal deficit for 2017-18 is revised to Rs 5.95 lakh crore (US$ 93.54 billion) at 3.5 per cent of the GDP.

1. Union Budget 2018
By,
Kartik Tikar -2017172
Ulka Wavle - 2017181

2. Highlights
 A healthcare programme called 'National Health Protection Scheme' to cover 50 crore poor people.
 Government to contribute 12% Employees’ Provident Fund for new employees for 3 years.
 No reduction in personal income tax rates.
 Cess on income tax increased from 3% to 4%.
 10% tax imposed on income from equity-based mutual funds.
 Corporate tax reduced from 30% to 25% for companies with turnover up to Rs 250 crore (US$39 million).
 Salaries of Members of Parliament to be increased every 5 years.
 Customs duty on mobile phones increased from 15% to 20%.
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3. Expectations Reality Our Take
Increase in minimum income tax
slab to Rs 5,00,000
Higher Cess on tax at 4%
Better healthcare for citizens 10 crore poor families to get Rs 5,00,000
health cover per year
No tax on capital gains 10% LTCG tax without indexation benefit if
the gains are over Rs.1,00,000
Lower income tax for senior
citizens
Exemption for interest on Fixed Deposit
Increased to Rs 50,000 from Rs 10,000
Higher Interest on EPF The government will fund 12% of wages for
new employees under EPF. For women,
only 8% PF will be cut in first three years.
Doing away with 12% GST on
sanitary pads
Customs duty for mobile phone hiked to
20%
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4. Budget Profile
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5. Budget Profile
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6. Major Expenditure
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7. Allocations and Expected Impact
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EDUCATION JAI KISANHEALTHCARE
 Flagship National
Healthcare Protection
scheme
 Rs 600 crore allocated
for tuberculosis
patients
 Aayushman Bharat
programme
 Ekalvya schools at par
with Navodaya
Vidyalayas
 Aims to move from
black board to digital
board
 Allocation of Rs1 lakh
crore
 MSP at 1.5 times
produce price
 Rs 500 cr will be
allocated for Operation
Green
 Bamboo is green gold
 Rs 10,000 cr set aside
for Fisheries and
Aquaculture
Development Fund

8. Allocations and Expected Impact
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CUSTOMS DUTY INCOME TAXAVIATION
 No personal income
tax changes proposed
in budget
 85.51 lakh new
taxpayers filed income
tax returns in FY17
 Standard deduction of
Rs 40,000 for medical
expense for salaried
class
 Proposal to expand
airport capacity by at
least 5 times
 Rs 60 cr allocated to
kick start this initiative
 UDAN Scheme to
connect 64
unconnected airports
 Increased on vegetable
oil
 Watches to 20%
 Central Board of
Excise and Customs
renamed as Central
Board of Indirect
Taxes and Customs
 TV parts 15%

9. Allocations and Expected Impact
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SOCIAL SECURITY TECHNOLOGY INFRASTRUCTURE
 Smart Cities Mission:
99 cities selected with
an outlay of Rs 2.04
lakh crore
 Amrut: Supply water
to all households in
500 cities
 Bharatmala Project:
To develop 35,000 km
under phase 1 of Rs
5.35 lakh cr
 Allocation to Digital
India scheme doubled
to Rs 3073 cr
 5 lakh WiFi Hotspots
to provide Broadband
access to 5 crore rural
citizens
 Government will
explore the usage of
Blockchain technology
 Ujjwala Yojana: 8 cr
poor women instead of
5 cr will get free LPG
 Saubhagya Yojana:
Power to 4cr poor
households
 Swachh Bharat
Abhiyan to construct 2
cr more toilets

10. ESTIMATES
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REVISED ESTIMATES
FY 17-18
BUDGET ESTIMATES
FY 18-19
3.5 % Fiscal Deficit 3.3%
2.6% Revenue Deficit 2.2%
11.6% Gross Tax Revenue 12.1%
BUDGET ESTIMATES
FY 18-19 (INR CRORES)
GROWTH V/S FY 17-18
11,50,000 Direct Taxes 14.4%
11,16,000 Indirect Taxes 17.3%

11. Whom has Budget impacted most
WINNERS LOSERS
Farmers Financial Sector
Healthcare Providers Mobile Phones
Transport Companies Middle / Salaried Class
Airports Urban Population
Poor Women
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12. Proof of the pudding will as usual be in its
eating !!!
Thank you
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