Kamal Haasan who was traveling to the US met reporters in Chennai airport. He said he was happy that the farmers became visible to the centre. However, he said that the budget has not done any good to the middle-class people.
With the Finance Minister Arun Jaitley’s announcement about the allocation of funds to build escalators at railway stations that have more than 25,000 commuters per day, few of Chennai’s suburban railway networks are expected to get escalators. Avadi, Guindy, Pazhavanthangal, Chrompet, Chengalpattu, Arakkonam, Thiruvallur are the stations in Tamil Nadu that are expected to get escalators.
The Union Budget 2018-19, presented by Union Finance Minister Arun Jaitley on Thursday, was a disappointment for Tamil Nadu as it didn’t touch on the State’s big-ticket expectations. The state was looking forward to the sanction for Phase II of the Chennai Metro Rail and a decision on the location of an All India Institute of Medical Sciences.
Union Finance Minister Arun Jaitley, in the Union Budget on Thursday, announced that modern trainsets with state-of-the-art amenities and features will be commissioned this fiscal. It is also notable that the trainsets are being designed at the Integral Coach Factory in Perambur, Chennai. All railways stations with more than 25,000 footfall would have escalators and CCTVs and Wi-Fi facilities would also be set up, Jaitley said.
Union Minister Arun Jaitley, in his Union Budget 2018-19 speech on Thursday, said that the excise duty for mobile phones has been increased from 15% to 20%. The Union government has also increased the education cess from 3% to 4%. Due to the increase, the following items will get costlier: Car, motorcycles, cell phones, silver, gold, vegetables, juices, perfumes, cosmetics, dental care products, shaving products, ornamental stones, diamond, smart watches, LCD and LED panels, Sunscreen, radial tyres, silk clothes, cigarette, lighters, olive and groundnut oil.
While announcing the budget plans for the financial year of 2018, Finance Minister Arun Jaitley announced that the income tax slab has not been changed. The tax slab for those who have an annual income between Rs 0 - Rs 2.5 lakhs is 0%, Rs 2.5 lakhs to Rs 5 lakhs is 5%, Rs 5 lakhs to Rs 10 lakhs is 20% and for those who have annual income more than Rs 30 lakhs, the tax is 10%.
Union Finance Minister Arun Jaitley, in his Union Budget presentation on Thursday, announced that Rs 1.48 lakh crore has been allocated for the expansion and modernisation of railways. Stating that the union government aims to double 18,000 km of railway lines, Arun Jaitley added that all railways stations and trains will have Wi-Fi and CCTVs progressively.
The import duty on mobile phones has been increased from 15% to 20%. This has been passed during the first day of the union budget session by the Finance Minister Arun Jaitley. Finance Minister said that this move is an attempt to increase the production of mobile phones in India.
A 25% exemption in tax has been awarded to the corporates that show a minimum turnover of Rs 250 crore. This was announced during the 2018’s union budget session on the day - 1.
The gold monetisation scheme will reportedly be revamped to make it easier for people to deposit gold accounts without hassle. This was discussed by the Finance Minister Arun Jaitley during the union budget 2018.
During the union budget 2018, the Finance Minister has announced a hike in the salary for the President, vice-president and the Governors. The President will be getting Rs 5 lakhs, the vice-president will be getting Rs 4 lakhs and the Governors will be getting Rs 3.5 lakhs per month. However, this year’s budget is aimed at the betterment of farmers’ income.
During the Union Budget presentation for 2018-19, Finance Minister Arun Jaitley on Thursday announced the extention of Ujjawala Yojana to more women. The target is being extended from 5 crore to 8 crore women living below the poverty line who will receive a free gas connection. Arun Jaitley further added that Swachh Bharat has constructed more than 6 crore toilets, while the Centre aims to build 2 crore more toilets in the next two years.
Union Finance Minister Arun Jaitley, during the Union Budget presentation 2018-19, on Thursday announced that the government will allocate Rs 1,290 crore for Bamboo National Mission to promote the Bamboo sector. While Rs 200 crore is allocated for cultivation and associated industry, the centre allocates Rs 500 crore for ‘Operation green’. According to reports, ‘Operation Green’ will promote processing facilities, professional management among other things.
While presenting the Union Budget for 2018-19, Union Finance Minister Arun Jaitley on Thursday reiterated that the government has pledged to double farmers’ income by 2022. Jaitley also added that the Minimum Support Price (MSP) of all crops shall increase to at least 1.5 times that of the production cost. Adding that the centre will set up a fund of Rs 2,000 crore for developing agricultural markets, the Finance Minister added that the government is allocating Rs 200 crore for cultivation and associated industry.
Union budget 2018 will be started at 11:00 am on Thursday. While last year’s union budget was a disappointment for Tamil Nadu as there were no major allocations for the state, this year Tamil Nadu is looking forward for the sanction of Phase - II of metro and a location to start the construction of AIIMS during the union budget 2018. Since this is the first budget after GST implementation, Tamil Nadu will also check for the fund allocation post-GST.