Union budget is one of the most awaited event of Indian politics as it is the first brick to build the future of current government.
It seems like PM Modi’s focus is to win back rural voters and of course, how could one ignore the half population.
Finance Minister Arun Jaitley enlisted ‘9 pillars’ to transform India. We have extracted some points from this huge union budget which shall give you the idea to prepare a blueprint of your annual budget. So, Mrs. Home Minister have a look:
1. ‘Stand-up India’, this start-up scheme of INR 500 crore is here to benefit 2.5 lakhs female entrepreneurs and SC/ST entrepreneurs of all categories. So, ladies you can plan a start-up this year. Hurry up as this benefit is available to start-ups set before April 1, 2019.
2. The limit of house rent paid under section 80GG has been uplifted to INR 60,000 per annum from existing INR 24,000 per annum.
3. If there is a plan to move into your first nest then there is a good news, now government has proposed an additional INR 50,000 interest on interest on loans for first home buyers and various tax incentives on affordable housing.
4. Government wants you to leave tobacco as they hiked the price of cigarettes for the 5th year in row. Premium brands like Benson & Hedges and Marlboro will now cost up to INR 250 for a pack of 20 cigarettes.
5. Alas! Now onwards, branded garments will cost more as government is going to levy an increased excise duty of 2-5% on products costing INR 1,000 or more.
6. Luxury is costly now as if you are driving a car costing more than INR 10,00,000 you have to pay a certain amount of infrastructure cess. 4% for higher engine vehicles and SUVs, 2.5% on diesel cars and 1% on small petrol, CNG, LPG cars.
7. Where they have increased the price of dresses they balanced it by decreasing the price of footwear.
8. Because of levy of new Krishi Kalyan Cess and Swacchh Bharat Cess now watching movies in theatre, eating out etc. is going to heavy on your pockets.
9. Jewellery, the thing we all love right . . . But this new budget has made imported jewellery more expensive by increasing custom duty from existing 10% to 15%.
10. Flying high may also become costlier. This union budget proposes a hike of 6% of excise duty on jet fuel.
So what do you think? This budget is really women friendly? What else do you expect from government? Tell us in comments.
