Budget highlights
Cess on income tax hiked to 4% which will be used for healcare scheme. Up to 5 lakh Health cover per family for 10 cr families. 14.34 lakh cr to be spent in Rural India to create livelihood MSP for all Kharif crops to be 1.5 times cost of produce. Free Power connection for 4 cr homes Corporate Tax of 25% extended to companies with turnover up to 250 cr. Railways Capex of 1.48 lakh cr. and Electrification of 4000 km of railway lines Revised Fiscal Deficit (2017-18): 3.5% of GDP. Targeted Fiscal Deficit (2018-19): 3.3% of GDP 500 cr is alloted to upgradation of agri-logistics infrastructure processing, and professional management in specific sub-sectors such as tomato, potato, and onion. Increased customs duty on many processed food products such as crude edible oil, refined edible oil, and various fruit juices to 30%, 35%, and 50%, respectively. Whereas customs dury on aggricultural commodities such as cashews is reduced to 2.5, hoping to increas...