You are here: Home » Budget » News » Financial Sector
Business Standard

Significant announcement of Budget 2018

FM Arun Jaitley's Budget 2018 speech highlights

Nidhi Salampuria 

Union Budget 2018 India

Universal Health Care Under Ayushman Bharat Program
– Urgent & Important Required Move – considering the rising cost of medical cost across the country
Rupees Five Lakh Annual Health Care benefit for 10 cr families estimated to cover 50 cr individuals, ie. 37.09% of the population is covered under this as per the current estimated population of 134 cr.

Standard Deduction for Salaried Employees - Actual Additional benefit of Rs.5800 Only.

Appreciated move, but insufficient to take care to cost of living in todays scenario. Salaried tax payers to get a standard deduction of Rs.40,000 in lieu of transport allowance and "other medical expenses, so actually only additional benefit of Rs.5800 provided.

Employee Provident Fund Deduction for Women-
Contributions from women employees will be brought down from 12 per cent to 8 per cent for the first three years of employment, the finance minister said. I believe this helps in increasing the Net take home salary for a women but this increases the gross taxable salary thereby increasing the tax out go and thus does not serve the purpose.

Unique Identity to Every Business-
All Pvt Limited, Public Limited, LLPs, OPC already have a unique id called as the CIN. Also they have PAN cards, GTSN etc which are unique to every company/organization. Why do we need another Unique ID for them. The un-organised sector needs it and not the organised sector.

First Published: Thu, February 01 2018. 16:32 IST