Budget 2017: From farmers to middle class, here’s what you got from Jaitley
Finance minister Arun Jaitley gave the salaried class a relief in the budget, bringing down personal income tax limits for the lowest slab.
Finance minister Arun Jaitley unveiled sweeping measures in his budget speech on Wednesday that ranged from boosting farm growth to easing the burden on the salaried middle class. Here are the big 10 numbers from his speech:
5%: Income tax for people with incomes between 2.5 lakh -5 lakh, down from 10%
Rs 2,000: Maximum donation political parties can receive in cash from one source
35%: Increase in personal income tax because of scrapping of Rs 500 and Rs 1000 notes
25%: Tax rate for companies with an annual turnover up to 50 crore, down from xx
Rs 3 lakh: Maximum quantum of cash transaction allowed
17%: Growth in tax revenue
3.2%: Fiscal deficit as a percentage of India’s GDP
24%: Increase in rural spending
35%: Increase in funds allocation for scheduled castes
6%: Increase in defence spending