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2018 Union budget of India

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71: 2483: 409:(GST) regime in India. It was widely expected that the budget would either increase the exemption limit, or introduce a standard deduction for salaried people to reduce the tax burden, in addition to a reduction of the tax rate for the 628:
said the budget was "unconnected to ground realities". Andhra Pradesh Chief Minister Sri.N.Chandra Babu Naidu is not satisfied with the budget planning as it completely ignored the special status and special package for the state.
2918: 2767: 2210: 3188: 1815: 2333: 1850: 2451: 2505: 2728: 2689: 1200: 2879: 2070: 2998: 721:, said that the budget, whilst supporting growth, does not address the problem of fiscal consolidation, and leaves the problem of India's relatively weak finances, to the next government. 1477: 3327: 3144: 1683: 2142: 2789: 2408: 2571: 1595: 1283: 1054: 1727: 3224: 1014: 3252: 3202: 3386: 2527: 1552: 3288: 1239: 2958: 1165: 580:
were doubled and their total emoluments are likely to go up from Rs 1.4 lakh to Rs 2.3 lakh per month. Further, the salaries will be increased every five years.
1125: 3069: 2286: 2373: 2178: 947: 1779: 1505: 1350: 904: 2250: 1892: 1090: 1406: 473: 1915: 1963: 476:
for new employees for three years. It was proposed that the medical allowance and transportation allowance be replaced by a standard deduction of
1438: 690:, fell sharply in the aftermath of the budget. The government, however, said that the fall in the stock market was not solely due to the budget. 3038: 2843: 608:
said that the budget is "development-friendly," focused on the needs of the rural areas and will strengthen the vision of a "new-India". The
383:) was the annual financial statement (AFS), demand for grants, appropriation bill and finance bill of India for the financial year 2018–19. 2645: 670:
said that Finance Minister Arun Jaitley had failed the fiscal consolidation test, and that there was no relief for the average taxpayer.
3379: 912: 1322: 572:
334 crore or US$ 40 million in 2023). Customs duties were increased for various products. A special scheme to tackle
3505: 3472: 3439: 2105: 2003: 621: 359: 1635: 2034: 2469: 3572: 2812: 722: 695: 648: 636: 556:(LTCG) was reintroduced after a 14-year absence. The Corporate tax was reduced from 30% to 25% for companies with turnover up to 3567: 3562: 1887: 3372: 2602: 406: 1478:"Budget 2018: Arun Jaitley may not follow US corporate tax cut, but Arvind Subramanian thinks India can't ignore it either" 2338: 1600: 1130: 443: 3577: 3541: 3536: 3531: 878: 837: 800: 766: 664: 486: 391: 3113: 3513: 3500: 3495: 3490: 3485: 3480: 3462: 3457: 3452: 3447: 3434: 3429: 3424: 3419: 3414: 3409: 2334:"Budget 2018: Indian mobile manufacturers welcome customs duty hike; here's why Chinese companies are unhappy" 983: 921: 659:(JDU) leader, praised the budget for the proposals on minimum support price for farmers and the healthcare scheme. 354: 691: 293: 3328:"Budget 2018: DEA secretary says govt will try to convince Fitch, S&P, other rating agencies on fiscal path" 660: 609: 541:
1.3 trillion or US$ 16 billion in 2023) on modernisation, with the rest being allocated for
3523: 3123: 2857: 2777: 2690:"Budget 2018: PM Narendra Modi calls Union Budget progressive, says will help strengthen 'New India' vision" 2493: 2119: 734: 702:
said that fall in stock indices was due to global market meltdown, and not because of the reintroduction of
613: 601: 58: 3293: 2576: 1482: 597: 462:
The budget contained a number of significant announcements. It included a healthcare programme called the
139: 3401: 2919:"Budget 2018: Chidambaram calls it a Jumla, Shah says it will give wings to the aspirations of the poor" 431:
13 lakh or US$ 16,000 in 2023) slab from 20% to 10%, and an increase in the 30% band above
2071:"Budget 2018 hikes cess on income tax to 4 per cent from 3 per cent: Here's how much more you will pay" 1816:"Budget 2018 gives Rs 40,000 standard deduction, removes other allowances: Salaried may be left poorer" 521:
2.6 trillion or US$ 31 billion in 2023) to be spent on the day-to-day running of the
405:
The 2018 budget was considered to be a crucial one, as it would be the first since the rollout of the
3341: 3158: 3083: 2422: 1964:"Budget 2018: Govt hikes defence budget by 7.81%, but it's just 1.58% of GDP & lowest since 1962" 1864: 1566: 1515: 1368: 1253: 730: 726: 714: 573: 2603:"Industry experts react to Budget 2018: cheers for agri push, mixed response to corporate taxation" 916: 882: 841: 804: 770: 656: 577: 549: 522: 387: 96: 2211:"Budget 2018: Corporate tax rate reduced to 25% for companies with turnover of up to Rs 250 crore" 472:) to cover 10 crore (100 million) poor families. The Government proposed to contribute 12% to the 3074: 3003: 2923: 2884: 2772: 2733: 2729:"Union Budget 2018: What worries me is that fiscal arithmetic may be faulty, says Manmohan Singh" 2694: 2488: 2413: 2215: 2147: 2075: 2039: 1968: 1820: 1688: 1411: 1405:
Beniwal, Vrishti; Chaudhary, Archana; Zhao, Yinan; Cislo, Connor; Li, Cynthia (29 January 2018).
1244: 1059: 1019: 2880:"Jaitley failed fiscal deficit test, thank God this was last budget of this govt: P Chidambaram" 1596:"Budget 2018: FM Arun Jaitley attends Halwa ceremony, check the ritual of extreme significance" 3302: 3262: 3257: 3162: 3149: 3087: 3012: 2972: 2932: 2893: 2781: 2742: 2703: 2663: 2655: 2620: 2612: 2545: 2537: 2497: 2426: 2347: 2308: 2300: 2224: 2183: 2152: 2080: 2044: 1977: 1937: 1929: 1825: 1753: 1745: 1701: 1657: 1649: 1609: 1570: 1557: 1527: 1519: 1452: 1443: 1380: 1372: 1297: 1257: 1214: 1175: 1170: 1139: 1064: 1028: 703: 553: 1851:"Budget 2018: No I-T relief but Rs 40,000 standard deduction on transport, medical expenses" 984:"Budget 2018 To Be Presented By Finance Minister Arun Jaitley: Time, Date, All Details Here" 147: 1201:"Budget 2018: Post-GST rollout, Arun Jaitley's power to tax is limited to only these items" 620:
suggested that the arithmetic behind the budget was "faulty". The general secretary of the
2035:"Budget 2018: No change in the income tax exemption limit, cess hiked to 4% for taxpayers" 1855: 1780:"Budget 2018: Govt to bear 12% employer contribution in EPF for new workforce for 3 years" 640: 632: 625: 468: 267: 75: 17: 54: 3229: 2188: 1416: 905:"Part V of the Constitution of India- The Union – Articles 110(a), 112, 113 and 114(3)" 870: 829: 792: 758: 679: 667: 617: 122: 62: 3556: 2470:"Budget 2018 doubles MPs' salaries, but they'll no longer decide on their own raises" 1737: 1510: 1360: 738: 718: 699: 605: 447: 242: 2374:"Arun Jaitley announces special scheme to tackle Delhi air pollution in Budget 2018" 442:
13 lakh or US$ 16,000 in 2023). The budget also came on the heels of a
3048: 2387: 2264: 1793: 1684:"Union Budget 2018: Rs 5 lakh health cover for 10 crore poor, prescription awaited" 1104: 961: 652: 559: 528: 508: 492: 479: 394: 319: 300: 275: 248: 213: 187: 164: 152: 86: 552:
rates, and the Cess on income tax was to be increased from 3% to 4%. A 10% tax on
1126:"Union Budget 2018: How Modi government can create more jobs? here is the answer" 2963: 1323:"Income Tax Sops For Middle Class, Rural Focus Likely In Budget 2018: 10 Points" 1288: 1205: 3225:"Budget Lends Helping Hand To Vulnerable Sections, But Slips on Fiscal Roadmap" 1091:"Economic Survey, Budget 2018 to be keenly watched in crucial week for markets" 1284:"Union Budget 2018: What you may expect on income tax front from Arun Jaitley" 683: 70: 3306: 3266: 3166: 3145:"Decline in stock indices due to global market meltdown, not LTCG tax: Adhia" 2976: 2659: 2616: 2541: 2304: 1933: 1757: 1749: 1653: 1574: 1531: 1523: 1456: 1384: 1376: 1301: 1218: 1179: 3337: 3332: 3198: 3154: 3118: 3091: 3079: 3043: 3016: 3008: 2936: 2928: 2897: 2889: 2822: 2785: 2746: 2738: 2707: 2699: 2667: 2650: 2624: 2607: 2581: 2549: 2532: 2501: 2430: 2418: 2383: 2378: 2351: 2343: 2312: 2291: 2260: 2255: 2251:"Budget 2018: Corporate tax cut to 25% to benefit MSMEs, not big corporates" 2228: 2220: 2156: 2143:"Budget 2018: FM proposes to re-introduce LTCG tax on gains above Rs 1 lakh" 2115: 2084: 2048: 2013: 1981: 1973: 1941: 1925: 1920: 1860: 1829: 1789: 1784: 1741: 1732: 1705: 1693: 1661: 1645: 1640: 1613: 1605: 1562: 1448: 1364: 1355: 1293: 1261: 1249: 1210: 1143: 1135: 1095: 1068: 1032: 1024: 993: 957: 952: 374: 127: 2999:"Rs 5 LAKH CR GONE IN SECONDS: What's driving this mad selloff in equities" 2484:"Emoluments of MPs to be revised every 5 years automatically: Arun Jaitley" 3189:"CORRECTED-Indian govt will look into local market slump -finmin official" 2452:"Union Budget 2018: Big salary hikes for President, VP, governors and MPs" 2844:"Nitish Kumar Praises "Best Budget", Congratulates PM Modi, Arun Jaitley" 687: 55:
Annual Financial Statement of the Central Government for the year 2018–19
378: 44: 3298: 3193: 2528:"Budget 2018: Law to revise salaries for MPs every five years proposed" 644: 542: 450:. Printing of the budget began on 20 January 2018 with the traditional 234: 1728:"Budget 2018: Centre to foot 12% PF contribution for new job entrants" 2968: 2959:"Why markets are on a free fall after Budget presentation: Explained" 2296: 2008: 1888:"Defence Budget 2018–19: The Imperative of Controlling Manpower Cost" 1697: 1100: 647:
that the budget contained nothing for the middle class and traders.
3364: 3253:"Fitch: India Budget Supports Growth, Delays Fiscal Consolidation" 2853: 2572:"Budget strikes a fine balance, LTCG was not a shock, say experts" 564: 533: 513: 497: 324: 313:
8.8 trillion or US$ 100 billion in 2023) (3.3%)
305: 280: 253: 218: 192: 169: 2106:"Budget 2018: No Change In Income Tax Rates But Cess Hiked By 1%" 332:
5.8 trillion or US$ 70 billion in 2023) (2.2%)
2848: 2817: 2110: 1327: 988: 505:
5.4 trillion or US$ 65 billion in 2023), with
344: 3368: 3289:"Will try to convince rating agencies on fiscal path: DEA Secy" 2002:
Gunjan, Rounak Kumar (1 February 2018). Yechury, Ashish (ed.).
2813:""Step-motherly Treatment": Arvind Kejriwal Slams Budget 2018" 2409:"Air pollution rings a bell in Budget, FM vows special scheme" 946:
Khanna, Pretika; Varma, Gyan; Nair, Remya (5 January 2018).
1553:"Printing of Budget documents begins with 'Halwa' ceremony" 1506:"Printing of Budget documents begins with 'Halwa' ceremony" 1407:"India's Budget Squeeze May Put Corporate Tax Cuts on Hold" 1055:"Budget 2018: Here are the basics of this key annual event" 2179:"India to Propose Long-Term Capital Gains Tax on Equities" 1166:"Impact of Goods and Services Tax (GST) on Budget 2018–19" 226:
34 trillion or US$ 410 billion in 2023)
200:
41 trillion or US$ 490 billion in 2023)
2768:"Budget unconnected to ground realities: Sitaram Yechury" 288:
8.1 trillion or US$ 97 billion in 2023)
177:
34 trillion or US$ 400 billion in 2023)
3039:"Day after 'populist' budget, Sensex crashes 840 points" 1916:"Modest hike in defence budget, pensions see sharp rise" 485:(US$ 480) for salaried employees. The allocation to the 261:
334 crore or US$ 40 million in 2023))
3187:
Kumar, Manoj (6 February 2018). Menon, Malini (ed.).
3037:
Shah, Ami; Sonavane, Ravindra N. (2 February 2018).
2004:"No Personal Income Tax Relief in Union Budget 2018" 706:, he added the government will look into the slump. 3522: 3400: 1682:Ghosh, Abantika; Mathew, George (2 February 2018). 1351:"Budget 2018: Middle class can hope for tax relief" 339: 292: 266: 233: 207: 181: 158: 146: 135: 118: 110: 102: 92: 82: 53: 2646:"Political leaders', parties' reactions to Budget" 729:, said, that the government would try to convince 1015:"Union Budget 2018 to be presented on February 1" 948:"Union Budget 2018 to be presented on 1 February" 3112:Gupta, Vishav; Gupta, Manish (2 February 2018). 3114:"Budget not cause of market crash: Government" 741:, on its commitments to fiscal consolidation. 588:Reaction to the budget was mixed-to-positive. 3380: 3070:"Budget not cause of market crash, says govt" 824: 822: 8: 1240:"First post-GST budget likely on February 1" 596:Political reaction to the budget was mixed. 32: 3387: 3373: 3365: 2177:Chowdhury, Abhijit Roy (1 February 2018). 1893:Institute for Defence Studies and Analyses 31: 2287:"Customs duty hike to lift mobile prices" 865: 863: 861: 859: 1778:Saleem, Shaikh Zoaib (1 February 2018). 1636:"Ayushman Bharat: the big budget scheme" 2811:Shukla, Shuchi, ed. (1 February 2018). 2654:. The Hindu Net Desk. 1 February 2018. 2536:. The Hindu Net Desk. 1 February 2018. 1437:Roychoudhury, Arup (22 December 2017). 750: 420:6.7 lakh or US$ 8,000 in 2023)– 982:Taneja, Richa, ed. (29 January 2018). 2892:. Express Web Desk. 1 February 2018. 2741:. Express Web Desk. 1 February 2018. 2285:Mishra, Lalatendu (2 February 2018). 1886:Behera, Laxman K. (2 February 2018). 1282:Dutta, Prabhash K (15 January 2018). 576:was also introduced. The salaries of 380:2018 Ke Liye Bhārat Kā Saṅghīya Bajaṭ 46:2018 Ke Liye Bhārat Kā Saṅghīya Bajaṭ 7: 3261:. Market Capital. 12 February 2018. 2372:Aggarwal, Mayank (1 February 2018). 1439:"US tax cut may find echo in Budget" 1027:. TIMESOFINDIA.COM. 5 January 2018. 830:"Expenditure of Government of India" 2069:Motiani, Preeti (1 February 2018). 1814:Kapoor, Pragati (5 February 2018). 1331:. NDTV Profit Team. 31 January 2018 1089:Sultana, Nasrin (29 January 2018). 1053:Seetharaman, G. (28 January 2018). 548:There was no reduction in personal 1634:Kumar, N. Ravi (1 February 2018). 1213:. IndiaToday.in. 28 January 2018. 622:Communist Party of India (Marxist) 245:for companies with turnover up to 25: 3233:. India Ratings. 12 February 2018 2997:Mudgill, Amit (6 February 2018). 2570:Nayak, Mahesh (1 February 2018). 2209:Tyagi, Chhavi (1 February 2018). 2141:Dhawan, Sunil (2 February 2018). 1962:Pandit, Rajat (1 February 2018). 1914:Peri, Dinakar (1 February 2018). 1164:Khare, Anurag (25 January 2018). 464:National Health Protection Scheme 2688:De, Abhishek (1 February 2018). 920:. pp. 44–49. Archived from 69: 2957:Arun, M. G. (7 February 2018). 2249:Nair, Remya (1 February 2018). 2931:. ET Online. 1 February 2018. 2346:. FE Online. 1 February 2018. 2043:. ET Online. 6 February 2018. 1608:. FE Online. 20 January 2018. 1138:. FE Online. 23 January 2018. 1: 3287:Sen, Sesa (3 February 2018). 871:"Debt and Deficit Statistics" 444:cut in the corporate tax rate 59:The Appropriation Bill, 2018 1726:Surabhi (1 February 2018). 913:Ministry of Law and Justice 379: 45: 3594: 723:Economic Affairs Secretary 371:2018 Union Budget of India 18:2018 Union Budget of India 474:Employees' Provident Fund 458:Significant announcements 351: 68: 793:"SUMMARY OF EXPENDITURE" 3573:2018 government budgets 3124:Indo-Asian News Service 2858:Indo-Asian News Service 2778:Indo-Asian News Service 2494:Indo-Asian News Service 2120:Indo-Asian News Service 649:Chief Minister of Bihar 637:chief minister of Delhi 554:long-term capital gains 3568:2018 in Indian economy 3563:Union budgets of India 3294:The New Indian Express 731:credit rating agencies 598:Bharatiya Janata Party 574:air pollution in Delhi 390:on 1 February 2018 by 140:Bharatiya Janata Party 63:The Finance Bill, 2018 2339:The Financial Express 1601:The Financial Express 1131:The Financial Express 578:Members of Parliament 407:Goods and Service Tax 41:Union Budget of India 3342:Press Trust of India 3159:Press Trust of India 3084:Press Trust of India 2423:Press Trust of India 1865:Press Trust of India 1567:Press Trust of India 1516:Press Trust of India 1369:Press Trust of India 1254:Press Trust of India 727:Subhash Chandra Garg 715:Credit rating agency 616:and noted economist 386:It was presented to 3578:Modi administration 3205:on 19 February 2018 3161:. 6 February 2018. 3086:. 2 February 2018. 2780:. 1 February 2018. 2611:. 1 February 2018. 2496:. 1 February 2018. 2425:. 1 February 2018. 1569:. 20 January 2018. 1518:. 20 January 2018. 1256:. 3 December 2017. 917:Government of India 883:Government of India 879:Ministry of Finance 842:Government of India 838:Ministry of Finance 805:Government of India 801:Ministry of Finance 771:Government of India 767:Ministry of Finance 735:Standard and Poor's 487:Ministry of Defence 97:Parliament of India 50: 3075:The Economic Times 3004:The Economic Times 2924:The Economic Times 2885:The Indian Express 2792:on 1 February 2018 2773:The Economic Times 2734:The Indian Express 2695:The Indian Express 2508:on 9 February 2018 2489:The Economic Times 2458:. 1 February 2018. 2414:The Economic Times 2216:The Economic Times 2148:The Economic Times 2076:The Economic Times 2040:The Economic Times 1969:The Times of India 1821:The Economic Times 1689:The Indian Express 1412:Bloomberg Politics 1371:. 9 January 2018. 1245:The Times of India 1060:The Economic Times 1020:The Times of India 663:leader and former 657:Janta Dal (United) 182:Total expenditures 3550: 3549: 3510: 3477: 3444: 3344:. 8 February 2018 3258:Business Standard 3150:Business Standard 2860:. 1 February 2018 2184:Bloomberg Markets 2122:. 1 February 2018 1867:. 1 February 2018 1558:Business Standard 1486:. 31 January 2018 1444:Business Standard 1171:Business Standard 927:on 24 August 2015 696:Revenue Secretary 635:(AAP) leader and 600:(BJP) leader and 367: 366: 334:(Revenue deficit) 27:Government budget 16:(Redirected from 3585: 3508: 3475: 3442: 3395:Budgets of India 3389: 3382: 3375: 3366: 3354: 3353: 3351: 3349: 3324: 3318: 3317: 3315: 3313: 3284: 3278: 3277: 3275: 3273: 3249: 3243: 3242: 3240: 3238: 3221: 3215: 3214: 3212: 3210: 3201:. Archived from 3184: 3178: 3177: 3175: 3173: 3141: 3135: 3134: 3132: 3130: 3109: 3103: 3102: 3100: 3098: 3066: 3060: 3059: 3057: 3055: 3034: 3028: 3027: 3025: 3023: 2994: 2988: 2987: 2985: 2983: 2954: 2948: 2947: 2945: 2943: 2915: 2909: 2908: 2906: 2904: 2876: 2870: 2869: 2867: 2865: 2840: 2834: 2833: 2831: 2829: 2808: 2802: 2801: 2799: 2797: 2788:. Archived from 2764: 2758: 2757: 2755: 2753: 2725: 2719: 2718: 2716: 2714: 2685: 2679: 2678: 2676: 2674: 2642: 2636: 2635: 2633: 2631: 2599: 2593: 2592: 2590: 2588: 2567: 2561: 2560: 2558: 2556: 2524: 2518: 2517: 2515: 2513: 2504:. Archived from 2480: 2474: 2473: 2472:. 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Index

2018 Union Budget of India
Annual Financial Statement of the Central Government for the year 2018–19
The Appropriation Bill, 2018
The Finance Bill, 2018

Emblem of India
Arun Jaitley
Parliament of India
16th
Lok Sabha
Bharatiya Janata Party
Finance minister
Arun Jaitley

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Tax cuts
corporate tax

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Deficit

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