Indian Union Budget 2018 Non-Tax Proposals

AGRICULTURE

Macro Highlights: Agriculture

11 lac crore to be pumped into farming sector next fiscal year

Minimum Selling Price (“MSP”) for the Kharif Crops has been set at 1.5

times the production costs.

The government shall make sure that the farmers will get adequate price

for their produce. Niti Ayog, in consultation with Central and State

Governments, will put in place a fool-proof mechanism to make sure that

adequate price is given to the farmers.

Agricultural market and infra fund of INR 2000 crore fund will be set up

to strengthen the market connectivity.

A sum of INR 500 crore will be allocated for Operation Green to be

launched. It will promote agricultural products.

Macro Highlights: Agriculture

Agricultural credit target increased from INR 8.5 lakh crore in 2014-15 to

INR 11 lakh crore.

Propose to launch a restructured bamboo mission with a fund of Rs 1290

crore - "Bamboo is green gold,"

Section 80P of the Income-tax Act, 1961 provides for 100 percent

deduction in respect of profit of cooperative society which provide

assistance to its members engaged in primary agricultural activities.

INR 10,000 crore set aside for Fisheries and Aqua culture Development

Fund

RURAL ECONOMY

Macro Highlights: Rural Economy

8 crore poor women will get new LPG connections

Pradhan Mantri Saubhagya Yojana: 4 crore poor people will get power

connection.

Govt plans to construct 2 crore toilets in next fiscal year under Swach

Bharat Mission

Government targets house for all by 2022. 51 lakh affordable houses have

been constructed in rural and further 37 lakh houses in urban areas.

1 crore houses to be built under Pradhan Mantri Awas Yojana in rural

areas.

Government gives Rs 9,975 crore for social security schemes for the next

fiscal year

EDUCATION

Macro Highlights: Education

INR 1 lakh crore allocated to revitalisation and upgradation of education

sector. Promoting learning based outcomes and research.

By 2022, every block with more than 50% ST population and at least

20,000 tribal persons will have Ekalvya schools at par with Navodaya

Vidyalaya.

Aims to move from black board to digital board schools by 2022.

Government will identify 1000 B-tech students each year and provide

them to do PHDs in IIT and IISc, while also teaching undergraduate

students once a week at that time.

HEALTH

Macro Highlights: Health

Ayushman Bharat programme: 1.5 lakh centres will be set up to provide

health facilities closer to home. INR 1,200 crore to be allocated for this

programme

Flagship National Healthcare protection scheme will cover

approximately 50 crore beneficiaries. Up to INR 5 lakh per family per year

for secondary and tertiary care hospitalisation. It would be the World's

largest government-funded healthcare programme.

INR 600 crore allocated for tuberculosis patients, at the rate of INR 500

per month during the course of their treatment.

Setting up of one medical college for every three parliamentary

constituencies, with 24 New government medical colleges also being

envisioned

SOCIAL SECURITY

Macro Highlights: Social Security

Pradhan Mantri Jivan Jyoti Bima Yojana has benefited 5.22 crore

families.

Government will expand Pradhan Mantri Jan Dhan Yojana: All 16 crore

accounts will be included under micro insurance and pension schemes

1.26 crore accounts opened under Sukanya Samriddhi Scheme

Social inclusion schemes for Scheduled Castes - INR 52,719 crore in 2017-

18 from INR 34,334 crore in 2016-17

Social inclusion schemes for Scheduled Tribes- INR 32,508 crore in 2017-

18 from INR 21,811 crores in 2016-17

INFRASTRUCTURE

Macro Highlights: Infrastructure

Construction of new tunnel in Sela Pass to promote tourism

Out of 100 smart cities 99 cities have been selected, with an outlay of INR

2.04 lakh crore

10 prominent tourist sites will be made iconic tourist destinations, with an

amalgamation of private funding, marketing and branding

Bharatmala project: To develop 35,000 KM under phase 1 with an outlay

of INR 5.35 lakh crore

RAILWAYS

Macro Highlights: Railways

Railway capex has been pegged at INR 1.48 lakh crore from INR 1.31 lakh

crore in the last year

All stations with footfall of greater than 25,000 will have escalators.

Govt to eliminate 4267 unmanned rail crossing in broad gauge in 2 years

Allocates INR 11,000 crore Mumbai rail network and INR 17,000 crore for

the Bengaluru metro

150 km of additional suburban railway networks to be set up in

Bengaluru at the cost of INR 17,000 crores.

CUSTOM

Macro Highlights: Custom

Customs Duty on various products have been increased on various

goods. Some of which are enlisted below-

Fruit and Vegetable Juices – From 30% to 50%.

Perfumes, etc. – From 10% to 20%.

Mobile Phones – From 15% to 20%.

LCDs/LEDs – From 7.5%/10% to 15%

Watches and Clocks - From 10% to 20%

Social welfare surcharge at 10% imposed on imported goods

Central Board of Excise and Customs (“CBEC”) renamed as Central Board

of Indirect Taxes and Customs (“CBIC”)

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