Finance minister Arun Jaitley presented the Union Budget 2018. This was Narendra Modi-led government’s fifth budget in Parliament. The sectors which got a thumbs-up in Union Budget are as follows-
Farmers will get benefit out of the budget since it promises to raise the minimum price offered to farmers for crops, while investing heavily in agricultural markets across India. It also delivers more money for rural areas, including irrigation projects and aquaculture projects, and directs state governments to purchase extra solar power generated by farmers using solar-powered pumps.Health care-
The government’s new flagship National Health Protection Scheme, which aims to insure as much as 500 million people for up to 500,000 rupees a year of care will benefit health industry.Financial Sector
The government`s conclusion to enforce long-term capital gains tax on equity investments may bend investor sentiment for financial services companies, life insurers and providers of mutual fund products.
Union budget has not proved good for these sectors-
To help pay for its ambitious health plans, which are meant to benefit millions of poor Indians, the government has increased an existing health and education levy to 4% from 3%. That applies to all products and services—and will make almost everything slightly more expensive.
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