Budget 2018: Key takeaways from Modi government's last full budget

Budget 2018: Key takeaways from Modi government's last full budget

Apart from farmers and the gareeb nagrik, it is the older demographic that stands to gain the most from the latest Budget. To begin with, tax exemption of interest income from bank deposits has been raised to Rs 50,000 from the current Rs 10,000.

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Finance Minister Arun JaitleyFinance Minister Arun Jaitley
BusinessToday.In
  • Feb 2, 2018,
  • Updated Feb 2, 2018 12:49 PM IST

So after a month of speculation, wishing and forecasting Budget 2018 has finally been presented and Finance Minister Arun Jaitley is currently in the midst of the post-Budget press conference. In case you missed his speech, here are the key takeaways:

Custom duty on mobile phones increased from 15% to 20%. The duty applicable on some mobile phone parts and accessories has been hiked to 15% and that on certain parts of TVs to 15%. "To help the cashew processing industry, I propose to reduce customs duty on raw cashew from 5% to 2.5%," added Jaitley.

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Significantly, Budget 2018 has levied a "social welfare surcharge" at 3-10% on imports in place of the Education Cess and Secondary and Higher Education Cess currently in place.

 

So after a month of speculation, wishing and forecasting Budget 2018 has finally been presented and Finance Minister Arun Jaitley is currently in the midst of the post-Budget press conference. In case you missed his speech, here are the key takeaways:

Custom duty on mobile phones increased from 15% to 20%. The duty applicable on some mobile phone parts and accessories has been hiked to 15% and that on certain parts of TVs to 15%. "To help the cashew processing industry, I propose to reduce customs duty on raw cashew from 5% to 2.5%," added Jaitley.

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Significantly, Budget 2018 has levied a "social welfare surcharge" at 3-10% on imports in place of the Education Cess and Secondary and Higher Education Cess currently in place.

 

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