New Delhi, Feb 1: Finance Minister Arun Jaitley used the word ‘government’ maximum times in his Budget 2018 speech. ‘Crore’ was the second most-used word, whereas the word India was at third position. Also Read - Finance Act 2018 Clarifies Applicability of Standard Deduction For Pensioners
Jaitley used ‘government’ a whopping 122 times. ‘Crore’ was used 111 times, whereas the world India was used 96 times. Also Read - List of Things That Will be More Expensive From April 1, 2018
Finance Minister Arun Jaitley delivered his last full-fledged budget speech as Finance Minister in the current government. Next year, an interim budget will be passed as general elections 2019 will be round the corner. (Also read: Jaitley Opens The Purse For Agri, Infra, Health Sectors; Disappoints Salaried Class) Also Read - Armed Forces Facing Shortage of 52,000 Soldiers, Army's 21,000 Posts Vacant: Govt
Jaitley disappointed the middle class as he didn’t announce any revision in the income tax slabs. Finance Minister Arun Jaitley didn’t announce any change in the existing tax slabs in Budget 2018-2019. Finance Minister Arun Jaitley, however, provided relief to salaries taxpayers by way of standard deduction of Rs 40,000 under transport and medical reimbursement.The government announced tax benefits to senior citizens. He announced that interest earned on bank deposits up to Rs 50,000 will be tax free.
It was expected that the government will increase the limit of income tax exemption from Rs 2, 50,000 to Rs 3,00,000. However, the Finance Minister said that no change was proposed for the same.