HISTORY OF BUDGET
INCOME TAX SLAB SNAPSHOT.
TOP 5 ANNOUNCEMENT AND THEIR
IMPACTS ON DIFFERENT STAKE-HOLDERS.
OTHER IMPORTANT ANNOUNCEMENT.
PRICE CHANGES AFTER BUDGET
3. A budget introduced by government is an annual financial
statement presenting the government’s proposed revenues
and spending for a financial year that is often passed by
legislature, approved by the chief executive or president
and presented by the finance minister to the nation.
This document estimates the anticipated government
revenues and government expenditures for the current
4. The union budget of India also known as the Annual
Financial Statement in the Article 112 of the
constitution of India, is the annual budget of the
republic of India.
The government presents it on the first day of
February so that it could be materialized before the
commencement of new financial year in April.
5. The Narendra Modi government’s last full budget
before the 2019 Lok Sabha elections mainly focuses
on strengthening agriculture and rural economy, good
health, care to senior citizens, infrastructure creation,
working with states to provide more resources to
improve the quality of education in country.
6. In the Annual Financial Statement of 2018-19 ,
Government has taken Ease of Doing business further by
stress on ‘Ease of Living’ for the common men of this
country, especially for those belonging to poor & middle
class of the society.
‘‘Minimum Government and Maximum Governance’’.
This vision has inspired Government agencies in carrying
out hundreds of reforms in policies, rules and procedures.
7. The word “Budget was derived from middle French
word “Bougette-meaning a leather bags”.
The word budget 1st time introduced by British
Finance Minister Sir Robert Val Paul in 1733.
The budget system was 1st introduced in India on 7th
The 1st Indian budget was presented by James Wilson
on Feb. 18, 1869.
8. The 1st union budget of independent India was
presented on Nov. 26, 1947 by former and 1st finance
minister RK Shanmukham Shetty.
The highest number of budget presentation made by
former finance minister Morarji Desai. He presented
10 union budgets, followed by P Chidambaram's 9
and P Mukherjee's 8.
9. On Feb. 29 1964 and 68 Morarji Desai presented Budget on his
Indira Gandhi was 1st lady finance minister of India.
The budget of fiscal year 1973-74 is known as the “Black
Budget” as the nation had a deficit of Rs 550 crore.
The 1997-98 budget was known as “Dream Budget” as a
number of economic reforms were done including lowering
income tax rates, removal of the surcharge on corporate taxes
and reduced corporate tax.
13. RS 5.97 LK CRORE ALLOCATION FOR INFRA
MSP FOR KHARIF AND RAVI CROPS IS 1.5
25% TAX ON COMPANY’s TURN-OVER UP TO
RS 250 CRORE.
RS 5 LAKH HEALTH COVER FOR 10 CRORES
DISVESTEMENT TARGET WILL BE RS 80,000
10% TAX ON LTCG MORE THAN RS 1,00,000.
14. Infrastructure development is one of important part of
development of economy.
It is growth driver of economy.
The Finance Minister estimated that investment in excess of
Rs.50 lakh crore is needed to increase growth of GDP and
connect the nation with a network of roads, airports, railways,
ports and inland waterways.
He announced increase of budgetary allocation on
infrastructure for 2018-19 to Rs.5.97 lakh crore against
estimated expenditure of Rs.4.94 lakh crore in 2017-18.
The Government has made an all-time high allocation to rail
and road sectors and is committed to further enhance public
15. Life become easy.
More employment generation.
No need to migrant in Urban area for Rural
Population of India.
16. More Business.
Company like L&T, GAIL and all get more
Wide range of customers.
More profit .
Easy in Transportation
Reducing in transportation cost and time.
17. Easily reach to market.
Reduce the cost.
Get the market in their own places.
18. Referring to the Government’s commitment
to the welfare of farmers and doubling
farmers‟ income by 2022, the Finance
Minister announced a slew of new schemes
He said ,that government has decided to keep
MSP for all unannounced Kharif crops at least
one and half times of their production cost
after declaring the same for the majority of
20. They will get the genuine price of their crops.
The life of farmers will be more prosperous.
Their debt burden will be reduced.
The growth and development of rural areas
will be increased.
Their purchase capability will be increased.
More Agriculturalist production.
21. Providing Rs 5 lakh cover for 10 crore people under the
government's 'Ayushman Bharat' insurance scheme.
It will be introduced from 1st of April.
It covers about 50 crores of population of India.
Its world biggest free medical insurance scheme of any
Its like Obama care in USA, @Modi Care of India.
22. They will get ensured of treatment.
They don’t need to get money during the their
Reduce their stress.
Strengthen their economic position.
23. Plenty of opportunities are waiting for
General Insurance company.
A healthy India can boost the overall economy
24. Government has made a promise of reduce the
IMPACTS (CORPORATE) :-
1. MSME sector get chance of more growth and
2. Small companies can compete with MNCs and all.
3. Boost more start-up.
4. MSME can make their business more innovative.
25. IMPACTS ON CORPORATE:-
1. More privatisation.
2. Healthy competition in relevant industry.
3. Market can keep PSUs in their investment’s
26. Government gets less amount as revenue so
they can’t bring any big-tickets activities.
Product will be cheaper.
More employment generation is possible.
It motivates them for start their own venture.
27. Government can spent more for their
They can purchase the IPOs of PSUs.
Economy can grow in better way.
Government can infuse more in infra related
28. Government will take all steps to eliminate use of crypto
currencies which are funding illegitimate transactions.
Government announces AMRUT program to focus on water
supply to all households in 500 cities . Water supply
contracts for 494 projects worth rupees 19,428 core will be
NITI Aayog will establish a national programme to direct
our efforts in the area of artificial intelligence towards
29. National Heritage city development augmentation
scheme has been undertaken to preserve and protect
heritage cities in the country announces the finance
Government to contribute 12 percent of EPF
contribution for new employees in all sectors.
Target of 3 lakh crore for lending under PM Mudra
Government aims to bring 60 crore bank accounts
under the Jan Dhan Yojana
30. Budget allocates money for social security and protection
programme for all widows and orphaned children.
Government have a target to provide all Indians with their
own homes by 2022.
Ujjawal scheme to amplify targets will now provide 8
crore rural women free LPG connections.
Arun Jaitley proposes a sum of rupees 500 crore for
‘Operation Green’ on the lines of ‘Operation Flood’.
31. The customs duty on mobile phones will be increased
to 20 per cent from the existing 15 per cent, in a bid to
promote 'Make in India' and create jobs in the country
therefore large number of imported items will become
The following items that will become costlier:-
1. Car and Motorcycles.
2. Mobile Phones.
32. The government will contribute 12 per cent of wages of
new employee for all sectors.
Women contribution to provident fund (PF) will be
reduced to 8 percent for the 1st three year of their
The Government allocates 7,148 crore for the textile
Emoluments will revised for the president to 5 lakh, 4
lakh vice president and 3.5 lakh a month for governors.
Free power connections to 4 crore homes.
Electronic IT assessment will be rolled out across the
country leading to greater efficiency and transparency 32
33. 5. Perfumes
6.Preparations for oral dental hygiene, denture fixative
pastes and powders.
7. Pre-shave, shaving or after-shave preparations.
8. Deodorants and bath preparations
9.Truck and buses radial tyres.
10. Silk fabrics
12. Colored gemstones
14. Imitation jewellery
34. 13. Diamonds
14. Imitation jewellery
15. Smart watches / wearable devices
16. LCD/ LED TV panels
20. Wristwatches, pocket watches and clocks
21. Tricycles, scooters, pedal cars, wheeled toys, dolls, toys and puzzles of
all kind and video games.
22. Articles and equipment for sports and outdoor games, swimming pools
and paddling pools.
23. Cigarette and other lighter candles.
25. Edible/ vegetables oil such as olive oil, groundnut oil.
35. The government is reducing import duties therefore
some items will become cheaper.
The following is a list of exported items that will
become cheaper :-
1. Raw cashew nuts
2. Solar tempered glass or solar tempered used for
manufacture solar panels.
3. Raw materials, parts or accessories used in making
4. Selected capital goods and electronics such as ball
screws and linear motion guide.