Budget 2018 : live updates

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The Budget of 2018 is India’s first after the implementation of the Goods and Services tax (GST) in June last year.

  • The budget will accelerate economic growth, as it is focused on all sectors, said the PM.
  • Gold Prices May Come Down if Finance Minister Arun Jaitley Takes This Decision.
  • Railways :
    Total capital expenditure for Indian Railways set at Rs 1,48,528 crore. A special railway university will also be set up in Vadodara, Gujarat.
  • Arun Jaitley announces 11 lakh crore for farm credits, committed to double farmers’ income.
  • Arun Jaitley brings in tax on LTCG; 10% tax on equity investments of over Rs 1 lakh.
  • Television Sets, Mobile Phones Get Costlier; Raw Cashews Get Cheaper.
  • Income Tax Slab 2018-19: Personal Tax Slabs, Rates Remain Unchanged, Standard Reduction Raised to Rs 40,000
  • Here’s a look at the Income Tax Slabs for FY 2017-18:

    Income Tax Slab for Individuals less than 60 years for F.Y. 2017-18
    Income Slab(s) Income tax rate in F.Y. 2017-18
    Upto Rs. 2,50,000                            Nil
    From Rs 2,50,001- Rs 5,00,000     5%
    From Rs.5,00,001- Rs.10,00,000   20%
    Above Rs.10,00,000.                       30%

    Income Tax Slab for Individuals more than or equal to 60 years but less than 80 years known as Senior Citizens for F.Y. 2017-18
    Income Slab(s) Income Tax Rate for F.Y. 2017-18
    Upto Rs. 3,00,000                            Nil

    Rs3,00,001- Rs 5,00,000                5%

    FromRs.5,00,001- Rs.10,00,000  20%

    Above Rs.10,00,000                      30%

    Income Tax Slab for Individuals more than or equal to 80 years known as Super Senior Citizens For F.Y. 2017-18
    Income Slab(s) Income Tax Rate for F.Y. 2017-18
    Upto Rs. 5,00,000.                           Nil
    From Rs.5,00,001- Rs.10,00,000.  20%
    Above Rs.10,00,000                        30%



    Good news for both private and govt employees in terms of PF, Arun Jaitley makes this big EPF announcement

    Union Budget 2018: Full list of Costlier product/services

    01

    Mobile Phones, TV sets, LCD/ LED TV panels, laptops, Cars and motorcycles, Video game consoles, Smart watches/wearable devices, Wrist watches,

    02

    Silver, Gold, Coloured gemstones, Diamonds, Imitation jewellery,

    03

    Vegetable, fruit juices, edible/vegetable oils such as olive oil, groundnut oil, Cigarette, candles

    04

    Sunglasses, Perfumes and toilet waters, Sunscreen, suntan, manicure, pedicure products, denture fixative, pastes and powders; dental floss, Pre-shave and after-shaves, Deodorants, bath preparations, depilatories, perfumery, scent sprays

    05

    Silk Fabrics, Footwear, Furniture, Mattresses, Lamps, pocket watches, clocks, Tricycles, scooters, pedal cars, wheeled toys, dolls’, carriages, dolls, toys, puzzles of all kinds

    06

    Equipment for sports or outdoor games, swimming pools and paddling pools,

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