VISION

Dear Friends,

Here is the Summary of UNION Budget 2018-19 with Expected MCQ for Upcoming Exams.

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