Budget 2017: How will the budget affect you?

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UDGET: One fine day of the year when every Indians eyes are glued to their T.V. screens in order to see what all the government has to offer to the people of the this great country.

Today our finance minister presented us with the budget which our country will follow in this year. Now here we have a very simplified summary of the budget, by which you will understand what services are given to you by the government.

 

TAX / INVESTMENT.

  • Changes in tax slab, 5% tax on income ranging from 2.5 to 5 lakh
  • 1.5 lakh to be the limit for investment.
  • 20% tax on income ranging from 5 to 10 lakhs.
  • 30% tax on income above 10 lakh.
  • 1% surcharge for individuals having income of 1 crore or more.
  • 25% tax to be given for turnovers of more than 50 crore, which is 5% lesser than previous 30%.

INDIAN RAILWAY

The Indian Railway budget is added to the union buget after 92 years, previously its budget was made on a different day.

  • 1 lakh crore rupee fund to be given for railway safety.
  • Manual railway crossings to be completely removed by 2020.
  • 1 lakh 31 thousand crore rupees to be given for railway development.
  • 25 stations to be completely updated.
  • Major emphasis on cleanliness and hygine of train and stations.
  • 3500km new railway track to be constructed.
  • No service charge on e-tickets booked from IRCTC.
  • 500 stations to be made easy to use for the specially abled.
  • Bio toilets till 2019.
  • IRCTC is now a part of the stock market, meaning it has gone public.
  • Different trains to be used for tourism.
  • Plans for metro to be discussed.

CONTROL OVER POLITICAL CORRUPTION.

  • Political parties to get only 2000 rupees as maximum limit for cash withdrawl, it was previously 20,000.
  • If a party wants to take an amount more than 2,000 rupee it has to do so by a demand draft or cheque.
  • Political party would have to display their income to income tax department of India.

FARMERS & VILLAGES.

Pic Credit :- TheBetterIndia.com
  • Major emphasis on development of villages.
  • On the ocassion of Bapus 150 jayanti, 1 crore people to be pulled up from the poverty line.
  • 10 lakh crore to be given as farmer loan.
  • Digitisation of the company which gives loan to farmers.
  • Development rate of farmers in 2017-2018 to be 4.1
  • Crop insurance amount hiked upto 9,000 crore.
  • 4lakh crore to be spent on PM Sadak yojana till 2019.
  • According to PM Awas yojana 1 crore houses to be given till 2019.
  • All villages in India to get electricity by 31 march 2018.
  • 5,000 crore to be used as irrigation fund.
  • 48,000 crore to be used for mgnrega.
  • 8,000 crore to be given for dairy development.
  • To create 10 lakh artificial lakes.
  • Attempt to give employment to every poor.

REMAININGS.

  • 2,74,114 crore to be used as defence budget.
  • 37,435 crore for scientific development.
  • 1000 skill ceneters for developing Skill India.
  • Strict actions to be taken on cheque bounce.
  • Strict action to be taken on people leaving country with public property.
  • Goal of taking the 3.2 government loss figure to 3 by next year.
  • 20 lakh machines to be introduced for payment through ADHAR card.
  • Passports to be made in post offices.
  • Proposal to form National Examination Agency, which would conduct IIT and medical examinations.

 

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IS NewsDesk
IS NewsDesk
Stories curated by our interns and news crew. Originally reported or general compilation from various available sources and news agencies.

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