Nirmala’s novel approach — Aspirational India, Economic growth, Caring Society

New I-T slabs for taxpayers who forgo exemptions/rebates
Taxpayers charter on cards; dividend tax for cos goes
Increase in deposit cover in banks from Rs1 lakh to Rs 5 lakh
Import duty up; kitchenware, footwear, furniture to cost more
New personal tax SLABs*

Income up to Rs 2.5 lakh Nil
Rs 2.5 lakh to Rs 5 lakh 5%
Rs 5 lakh to Rs 7.5 lakh 10%
Rs 7.5 lakh to Rs10 lakh 15%
Rs 10 lakh to Rs 12.5 lakh 20%
Rs 12.5 lakh to Rs15 lakh 25%
Income above Rs15 lakh 30%
Fiscal deficit target 3.5%

Fiscal deficit target fixed at 3.5%
MNREGA allocation cut by Rs10,000 cr
Rural roads outlay up by Rs7,000 cr
Rs 12,300 cr for Swachh Bharat to sustain open defecation-free move
Rs 3.6 lakh cr for water conservation
Rs 1,480 cr for National Technical Textiles Mission with 4-year execution period
Old slabs stay
Key Outlays

Rs 3.37 L cr Marginal hike in defence allocation
Rs 1.7 lakh cr spending planned for transport infrastructure Rs85,000 cr for welfare of Scheduled Castes/OBCs; Rs 53,700 cr for Scheduled Tribes
Rs 35,600 cr for nutrition-related programmes and Rs 28,600 crore for women
Rs 30,757 cr for Jammu and Kashmir, Rs 5,958 cr for Ladakh
Railways

Rs 70,000 cr budgetary support, Rs 1.61 lakh cr capex; paltry 3% rise in allocation
Revenue expenditure, including estimated Rs 92,993.07 cr salary payout, a headache
A large solar power capacity alongside rail tracks on land owned by the Railways
4 stations to be redeveloped & 150 passenger trains to be operated via public-private-partnership (PPP) mode
Introduction of more Tejas-type trains to connect iconic tourist destinations
148-km-long Bengaluru suburban transport project at Rs18,600 crore
National cold supply chain for ‘perishables’; Refrigerated coaches in express, freight trains
SENSEX TANKS 988 POINTS

This is fourth biggest fall ever
Closes at 39,735.53

I-T slab rejig stokes fears of lower inflows in investment avenues
Proposed dividend distribution tax to investors adds to negative sentiment
Nifty sinks 300.25 points to 11,661.85
COSTLIER

Butter ghee, butter oil, edible oils, peanut butter, whey, maize, sugar beet seeds, preserved potato, chewing gum, dietary soya fibre, isolated soya protein, walnuts (shelled)
Footwear, shavers, hair clippers, hair-removing appliances, kitchenware, water filters, articles of porcelain/china, rubies, emeralds, sapphires, rough coloured gemstones
Combs, hairpin, curling pins, curling grips, hair curlers, fans, portable blowers, water heaters and immersion heaters
Electric irons, food grinders, ovens, cookers, cooking plates, boiling rings, grillers and roasters, coffee and tea makers and toasters
Electro-thermic fluid heaters, devices for repelling insects and electric heating resistors, furniture, lamps and lighting fittings, toys, stationery items
PCBA of cellular mobile phones, display panel and touch assembly, fingerprint readers for use in cellular mobile phones
Excise duty on cigarettes, hookah, chewing tobacco, and tobacco extracts
Artificial flowers, bells, gongs, statuettes & trophies
CHEAPER

Sports goods, pure-bred horses, electric vehicles, newsprint & microphone