1. FISCAL DEFICIT TO BE MAINTAINED AT 3.2% FOR FY 17-18 POSITIVE FOR LENDERS AND BORROWS. THERE IS A CHANCES OF 50BPS INTEREST RATE CUT GOING FORWARD.
2. CAPITAL GAINS TAX HOLDING PERIOD OF LAND AND HOUSE REDUCED FROM 3 TO 2 YEARS
3. JOINT DEVELOPMENT CAPITAL GAIN TAX TO BE PAID ON COMPLETION OF BUILDING.
4. MAT Carry forward increased from 10 years to 15 years. Good for companies which are highly capital intensive and expansionary mode. This will help in Private investment.
5. Corporate tax for MSME sector with less than 50 crore turnover reduced to 25% .
6. LNG excise duty reduced to 2.5% from 5%
7. Presumptive tax for 2 crore turnover reduced from 8% to 6%
8. Cash Charity reduced from Rs 10000 to Rs 2000
9. No cash Transaction above 3 lakhs.
10. Political party max cash donation Rs 2000 and Electoral bonds will be issued through designated Banks for political funding and can be done only by electronic payment or cheque payments.
11. Agri Credit at 10 lakh crore
12. 60days interest waiver for farm loans
13. Micro Irrigation Rs 5000 crore funding
14. MENREGA Rs 48000 crore allotted
15. Road Project under NHAI 133 Kms/ Day
16. Interest subvention for under Housing Scheme as announced earlier by Prime Minister
17. Bharat Net to get Rs 10000 crore funding
18. Mudra Scheme to get 2.44 lakh crore
19. Confiscate asset of defaulters who flee country. New amendment to be made in the constitution to implement this act.
20. Affordable housing to get INFRA status
21. May 2018 100% electrification
22. Audit for presumptive tax for turnover above 2 crore only
23. TDS of 5% on commission exempted post self-declaration
24. Personal Income tax 2.5 to 5 lakh will be reduced to 5% from 10%.
25. 10% extra surcharge for 50lacs to 1 crore income slab
26. Income tax filing to be a one pager for non-business income
27. Solar tempered glass excise duty cut to 6%
28. Un manufactured tobacco excise duty hiked to 8.3% from 4.2%
29. Cigarette excise duty hike by 2.5% to 6% on various products based on length.