Known as a government for people in suits, BJP finally took its first step towards bringing Acche Din for the common man. Since I’m sure you wouldn’t have the time to go through the entire budget, here are 5 important takeaways that are bound to have an impact on your daily life.
Farmers say Yeah!
Happy farmers, healthy farms!
To put a barrier on the increasing number of farmer suicides, Jaitley allocated a mammoth 35,000 crores under the Pradhan Mantri Krishi Sichai Yojana. Along with that, another 20,000 crores are allotted to bring irrigation in drought-prone regions. Here’s hoping our farmers finally get some respite.
Smoking is now injurious to health AND wealth!
Smokers beware as the excise duty on tobacco products will soon face an increase of 10-15%. Maybe Mr. Jaitley is trying to save everyone, especially the youth?
Pay more for those luxurious services!
For the increase in funds being allocated to farmers, someother sector had to make way. This time, that sector was good old service tax. With an increase of 0.5%, you will have to pay 15% service tax instead of 14.5%, making a deeper hole in your pocket.
Cheers Entrepreneurs!
Giving a boost to Modi’s Startup India, Jaitley announced an allocation of 500 crores for the Prime Minister’s initiative. Additionally, the corporate tax remains 25% for those with a turnover of less than 5 crores and 29% for those with more.
Infrastructure gets the boost!
The highest amount in Arun Jaitley’s budget goes to the infrastructure sector, with a huge allocation of 2.21 lakh crores. So start gearing up for better roads now.
Author Name: Kritika Sharma
