Union Budget of 2018 had come. Finance Minister, Arun Jaitley had presented this budget. However, this time the budget has disappointed the middle class. After the budget, the stock market dived too.
Let us understand the key points related to the budget. This time the budget has disappointed the middle class. On one hand, there will be no change in the income tax slab, along with this a standard deduction of 40000 thousand rupees. For Senior Citizens, the discount on deposit has been increased from 10000 to 50000. The government has given a gift to the working women. Their PF contribution has been reduced from 12% to 8%.
In the budget, the cost of petrol and diesel has been cut by Rs 2. The tax slab of companies especially SME which have the turnover of 250 crores has been reduced from 30% to 25%. Also, 100 million agricultural companies were exempted from tax.
Apart from this, the government has said that they intend to open skill development centres in every district. 24 new medical colleges will be opened all over the country. TB patients will be given 500 rupees every month. The B.Ed. the course will be renewed and restructured which will increase the level of education.
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