Finance minister, Mr. Arun Jaitley unveiled the Union Budget 2018 in Parliament on February 1, 2018, amid expectations of increased spending to boost growth in the Indian economy. Finance Minister Arun Jaitley delivered his government’s last full year Budget speech for financial year 2018-19. He began his speech by highlighting the government’s economic reforms undertaken in the last four years and its achievements. Mr. Jaitley said that this year’s Budget will focus on strengthening agriculture and rural economy and the government was committed to double the farmers’ income by 2022.
Being a populist budget, there were minimal changes in taxation front. With GST subsuming Service Tax and Excise, Indirect taxes mainly saw changes in Customs Act and Tariff.
For understanding key highlights of the Budget, Mr. Bimal Jain has recorded a Video Presentation on Union Budget, 2018, discussing the various amendments brought/proposed in Indirect Taxes along with suggesting the GST road map which could have been the part of Budget.
The video can be accessed at: https://youtu.be/4JNkzNuE_Qk
Trust you will find this video helpful for easy digests of Union Budget, 2018.
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