Highlights of Union Budget 2018-2019

Highlights of Union Budget 2018-2019

1. No changes in personal income tax slabs.
2. Salaried tax-payers to get a standard deduction of ₹40,000 in lieu of transport allowance and “other medical expenses”.
3. ₹2,000-crore fund for development of agriculture markets.
4. All senior citizens will now be able to claim the benefit of a deduction of ₹50,000 for any medical insurance.
5. For critical illnesses, the deduction has been increased to ₹1,00,000.
6. Free power connections to 4 crore homes under Saubhagya Yojana.
7. Eight crore free gas connections for poor women through Ujjwala Yojana.
8. Govt. to implement minimum support price for all crops; It is hiked to 1.5 times of production costs.
9. Govt. to contribute 12% of wages of new employees for all sectors.
10. New flagship National Health Protection Scheme, providing a health insurance cover of ₹5 lakh per family per year announced.
11. Railway capex for 2018-19 set at ₹1.48 lakh crore.
12. Disinvestment target for this year set at ₹80,000 crore.
13. Automatic revision of emoluments parliamentarians every five years pegged to inflation.

Source:- https://goo.gl/x1hxQy

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