Finance Minister Arun Jaitley to present the Union Budget 2017-18. Soon after the news of the demise of E Ahmad Member of Parliament, the Parliament has been in speculation that the budget will be averted, but Arun Jaitley tweeted and made the formal announcement that the budget will be presented today.
Watch me live presenting the Union Budget 2017 at 11 am, February 1, 2017 https://t.co/BtQAlBf8Zz
— Arun Jaitley (@arunjaitley) February 1, 2017
For the first time, Railway and Finance Budget will be present together. Since 1924 the Budget is presented on the last day of February. If the budget is presented today, then it will be the first budget that the budget is to be submitted on the first of February.
Five states in which the elections will be held have many expectations from the budget is which will be presented today. After demonetization, the ordinary people has huge expectations from the budget. According to the sources, the government may make the changes in income tax slabs for the middle-class income category. The chances are that the current income tax exemption limit from Rs 2.5 lakh to Rs three lakh can be increased.
Expectation from the Budget
- Expected to increase the income tax exemption limit
- The exemption limit on home loans are expected to grow
- Discounts on Digital transactions expected
- Because of GST service tax is expected to increase around 16-18%
- Delhi-Howrah, Delhi-Mumbai route may have high-speed train
- The Fund expects to increase the safety of passengers separately.