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Budget 2018 LIVE: Will Arun Jaitley ease tax rates amid fiscal challenges?

The annual Union Budget 2018-2019 will be tabled by Arun Jaitley on Thursday. Follow Business Standard for LIVE updates

BS Web Team  |  New Delhi 

Finance Minister Arun Jaitley with MOS For Finance P Radhkrishnan', MOS For Finance Shiv Pratap Shukla, and with the full Budget Team while giving final touches to the Union Budget 2018-19 in New Delhi. Photo: Dalip Kumar
Finance Minister Arun Jaitley with MOS For Finance P Radhkrishnan', MOS For Finance Shiv Pratap Shukla, and with the full Budget Team while giving final touches to the Union Budget 2018-19 in New Delhi. Photo: Dalip Kumar

Benchmark 10-year bond yields have fallen 135 bps and the NSE share index has surged 55 per cent since Modi took power in May 2014. In July 2017, the Department of Economic Affairs (DEA) had cited the opinion of the attorney general to the government and the CAG on this issue: “Sebi is not obliged to remit from its general fund to the public fund account under Article 266(2) of the Constitution of India. Therefore, it would not be appropriate to deviate from the legislative intent of Parliament as elucidated in Section 14 of Sebi Act, 1992.” The issue of retention of surplus funds was first highlighted in 2008 by the CAG. Sources said this time around, Sebi has not objected to the government’s proposal on transfer of funds. According to a 2017 report of the CAG, these regulatory bodies together hold surplus cash of Rs 60.6 billion as of March 2017. The Centre has been eyeing these resources, which would enable it to reduce the fiscal deficit.

Finance Minister Arun Jaitley will present the Budget for financial year 2018-19 on Thursday. In the last Budget, Finance Minister Arun Jaitley left the income tax slabs unchanged but gave a marginal relief to the small taxpayer, in the form of reduction in the rate from 10 per cent to 5 per cent for individuals having an annual income between Rs 250,000 to Rs 500,000.

This year too, taxpayers are waiting anxiously to know whether the government will, in 2018, tweak income tax slabs and rates to bring down the burden on individuals.


Jaitley will tomorrow present the current NDA government's fifth and arguably his toughest yet as he seeks to address agriculture distress, create jobs and boost growth while at the same time stick to fiscal prudence.

First Published: Wed, January 31 2018. 22:07 IST
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Budget 2018 LIVE: Will Arun Jaitley ease tax rates amid fiscal challenges?

The annual Union Budget 2018-2019 will be tabled by Arun Jaitley on Thursday. Follow Business Standard for LIVE updates

The annual Union Budget 2018-2019 will be tabled by Arun Jaitley on Thursday. Follow Business Standard for LIVE updates
Finance Minister Arun Jaitley will present the Budget for financial year 2018-19 on Thursday. In the last Budget, Finance Minister Arun Jaitley left the income tax slabs unchanged but gave a marginal relief to the small taxpayer, in the form of reduction in the rate from 10 per cent to 5 per cent for individuals having an annual income between Rs 250,000 to Rs 500,000.

This year too, taxpayers are waiting anxiously to know whether the government will, in 2018, tweak income tax slabs and rates to bring down the burden on individuals.


Jaitley will tomorrow present the current NDA government's fifth and arguably his toughest yet as he seeks to address agriculture distress, create jobs and boost growth while at the same time stick to fiscal prudence.
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Business Standard
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Budget 2018 LIVE: Will Arun Jaitley ease tax rates amid fiscal challenges?

The annual Union Budget 2018-2019 will be tabled by Arun Jaitley on Thursday. Follow Business Standard for LIVE updates

Finance Minister Arun Jaitley will present the Budget for financial year 2018-19 on Thursday. In the last Budget, Finance Minister Arun Jaitley left the income tax slabs unchanged but gave a marginal relief to the small taxpayer, in the form of reduction in the rate from 10 per cent to 5 per cent for individuals having an annual income between Rs 250,000 to Rs 500,000.

This year too, taxpayers are waiting anxiously to know whether the government will, in 2018, tweak income tax slabs and rates to bring down the burden on individuals.


Jaitley will tomorrow present the current NDA government's fifth and arguably his toughest yet as he seeks to address agriculture distress, create jobs and boost growth while at the same time stick to fiscal prudence.

image
Business Standard
177 22