Union Budget 2018: Strong infrastructure to boost all sectors, says FM Jaitley

New Delhi: Finance Minister Arun Jaitley on Thursday unveiled Union Budget 2018, which was also the last full Budget of the Narendra Modi-led NDA government before the 2019 Lok Sabha elections. For this year, Jaitley has focused more on alleviating the pangs of the rural sector apart from uplifting the stature of health and education. 

While the budget brings some relief to the rural population, it is far from an ideal, expressed several economists. The fiscal deficit rate of 3.3 percent is also higher than expected and can lead to inflation later on in the year. For the salaried class, income benefits were rolled out, but not to an extent that would help significantly 

After announcing the Budget for this year, Jaitley quoted Swami Vivekananda and said, "You merge yourself in the void and disappear and let a new India arise. Let her arise out of the peasant's cottage, grasping the plough out of the huts of fisherman.

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15:10 pm: Commenting on the Budget, Aniruddha Chatterjee, Head- Buy-side business, Thomson Reuters, South Asia, said, "The Union budget 2018 reinforces Government’s intention to improve the rural economy by boosting credit and investment in the farming sector. Since the measures taken are mostly structural in nature, right implementation will eventually grow the rural economy and benefit both real economy as well as the Street." 

"The return of Long Term Capital Gain Tax (LCGT), which was not entirely unexpected, but may not be seen as a welcome move particularly by the high-value investors. There is a fear that this might vitiate the investment environment in the short term," he added 

15:07 pm: Its a balanced budget which is for every section of society, especially the focus on farmers and health services of the poor. The economy will also get a boost. I congratulate PM Modi and FM Jaitley: Piyush Goyal

15:05 pm: Here are the top 10 highlights of Budget 2018

15:03 pm: This year's Budget is all-inclusive says FM Jaitley

15:02 pm: India has the lowest Income Tax slab in the world, says Finance Minister

India has the lowest Income Tax slab in the world, says Finance Minister @arunjaitley#ModiSabkaSaathBudget pic.twitter.com/vanD6v5aGv

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