February 01, 2018:
Fiscal Deficit pegged at 3.5 %, projected at 3.3 % for 2018-19.
Country firmly on course to achieve over 8 % growth as manufacturing, services and exports back on good growth path.
Standard Deduction of Rs. 40,000 in place of present exemption for transport allowance and reimbursement of miscellaneous medical expenses. 2.5 crore salaried employees and pensioners to benefit.
World‟s largest Health Protection Scheme covering over 10 crore poor and vulnerable families launched with a family limit upto 5 lakh rupees for secondary and tertiary treatment.
22,000 rural haats to be developed and upgraded into Gramin Agricultural Markets to protect the interests of 86% small and marginal farmers.
“Operation Greens” launched to address price fluctuations in potato, tomato and onion for benefit of farmers and consumers.
Loans to Women Self Help Groups will increase to Rs.75,000 crore in 2019 from 42,500 crore last year.
Higher targets for Ujjwala, Saubhagya and Swachh Mission
Outlay on health, education and social protection will be 1.38 lakh crore.
Two New Funds of Rs10,000 crore announced for Fisheries and Animal Husbandary sectors; Re-structured National Bamboo Mission gets Rs.1290 crore.
NITI Aayog to initiate a national programme on Artificial Intelligence(AI)
Disinvestment crossed target of Rs 72,500 crore to reach Rs 1,00,000 crore
Relief to Senior Citizens proposed:
Exemption of interest income on deposits with banks and post offices to be increased from Rs. 10,000 to Rs. 50,000.
TDS not required to be deducted under section 194A. Benefit also available for interest from all fixed deposit schemes and recurring deposit schemes.
Hike in deduction limit for health insurance premium and/ or medical expenditure from Rs. 30,000 to Rs. 50,000 under section 80D.
Increase in deduction limit for medical expenditure for certain critical illness from Rs. 60,000 (in case of senior citizens) and from Rs. 80,000 (in case of very senior citizens) to Rs. 1 lakh for all senior citizens, under section 80DDB.
Proposed to extend Pradhan Mantri Vaya Vandana Yojana up to March, 2020. Current investment limit proposed to be increased to Rs. 15 lakh from the existing limit of Rs. 7.5 lakh per senior citizen. (PIB)
