The budget focuses on the rural economy ahead of elections:
New Delhi ( Reuters): Finance Minister Arun Jaitley spoke about the huge spending of finance on Rural infrastructure, which would help to gain massive votes in the countryside, where 1/3 of India’s population lives.
As per Budget :
Revised Expenditure for 2017/18 at 21.57 trillion rupees
Total Expenditure is for 2018/19 as assumed 24.42trillion rupees.
Revenue Expenditure is seen as 21.42 trillion rupees, capital expenditure through budget at 3 trillion rupees in 2018/19.
Food Subsidy has seen at 2.45 trillion rupees in 2018/19.
Gross tax revenue was seen at 22.71 trillion rupees in 2018/19.
To reduce corporate tax to 25 percent for companies which reports turnover of up to 2.5 billion rupees as of 2016/17.
In the Budget the Finance minister plans to protect 500 million poor people and will be the world’s largest health protection scheme.