Union Budget 2017-18 announced on 1st February 2017 | Find out the Highlights, Key Factors, Announcements on Tax, Tax Slab – Complete Details | Download Budget Speech, Handbook pdf file
Finance Minister, Mr. Arun Jaitley on 1st February 2017 at 11:00 am started the Budget speech. Earlier there were doubts regarding the budget announcement on 1st February but finally the green light was given by speaker. We all had lots of expectations from 2017-18 budget but now its time to find out what this budget has to offer. We are providing you complete speech, key factors or highlights and the official documentation to download regarding the budget.
Every Indian is excited to know about the Key Highlights (Factors) of the Union Budget 2017-18. Among all other aspects, the “tax” factor is most important. We all want to know what new will finance minister offer to tax payers. Will there be any changes in the tax slab or not? What new schemes will be launched etc. etc. ? Let’s Find out
Answers to all these questions will be disclosed on 1st February 2017. We, at pradhanmantriyojana.in, are dedicated to provide you the latest information regarding union budget 2017-18. We will be providing you detailed information regarding the announcements. Our Key Highlights section will present you the most important key information. It will include the most important highlights of the Union Budget Speech. In the download section(in the end), you will be able to download the budget highlights as pdf file.
Union Budget 2017-18 [ Live Speech ]
Date – 1st February 2017
Time – 11:00 am
If you are interested to switch to live budget announcement, you can do it via following ways –
Official Webcast source of Union Budget 2017 – 18 >> HERE
Union Budget 2017-18 – pdf Download[Speech/Handbook]
The finance ministry provides all the important documents related to budget to everyone. This way every common person can know detailed information of the budget. This includes, the budget Speech by Finance Minister, the official budget handbook & Key Highlights of the budget. Using the given direct links you will be able to download the pdf file, containing the information.
Key Highlights of Union Budget 2017-18
The most concerned areas will be Agriculture,Infrastructure,Financial markets, Investment, Safe India, Tourism, Digital India, Railway & Tax proposals. Most of the businessmen will be interested in the Tax aspect of budget. Here are some of the expectations from this year’s Union Budget –
Tax Slab – It is expected that the union minister will make changes in the tax slab. According to experts there will be upward revision. As we all know, the current income tax limit is 2.5 lakh. This limit could be increased to Rs. 4 Lakh this time.
Expected Tax Slab is –
|Taxable Income||Tax Rate|
|Less than Rs. 4 lakhs||Nil|
|Rs. 4 lakhs to less than Rs. 8 lakhs||10% on taxable income exceeding Rs. 4 lakhs (Max. Rs. 40,000)|
|Rs. 8 lakhs to less than Rs. 12 lakhs||Rs. 40,000 + 20 % on taxable income over Rs. 8 lakhs (Max. Rs. 1.2 lakhs)|
|Rs. 12 lakhs and above||Rs. 1.2 lakhs + 25% on taxable income over Rs. 12 lakhs|
Housing Loan – It is expected that there will be some positive changes in the housing loan rate of interest. Other important announcement/modification can be made regarding Pradhan Mantri Awas Yojana.
Education Sector – It is expected that government will announcement various scholarship schemes for merit holder students. Also strict rules could be announced for private sector educational firms.
Cashless Economy – It is expected that there will be focus on cashless transactions this time. Rewards and benefits could be announced for using cashless payment methods.
Real Estate – The real estate segment is also going to be key element.It is expected that there will be relaxation in income tax rate & hike in the HRA deduction limit for salaried people. Certain measures to standardize construction material costs could be taken.
Agriculture – This year’s budget could give huge relief to farmers.It is expected that compensation could be offered to the farmers who faced problems during the demonetization process. The government could focus on educating the farmers in using the cashless methods for payment of seeds, fertilizers and other essential agricultural materials.
Budget 2017-18 Expectations | Expert View
- FICCI president Naina Lal Kidwai recently gave a statement saying that this budget will be growth oriented.
- Adi Godrej, CMD at Godrej Consumer Products says that Individual tax rates can be reduced in this budget
- As per Kishore Biyani, there may be a drop in savings interest rate
Previous budget was declared on 29th Feb 2016 while this one declared 1st February 2017. The finance minister will address the nation with all his proposals and announcements. All the news channels will cover the live feed of budget announcement. The department releases the official documents every year which can be downloaded and studies by every one. These documents will contain information regrading each and every aspect of budget.