Union Budget 2018

It’s that crucial time in India again: The great Union Budget – 2018 edition. Another year of estimating the expected revenue and laying down the proposed expenditure. Honestly, that’s all the finance I can speak. In layman, I can say that many sectors of the Indian economy will either in for a surprise or a shock. Tax payers will have to brace themselves for the impending doom of more taxes.  After en number of twists and turns of the rubik’s cube of the budget plan, this is what Union Minister Arun Jaitely’s union budget looks like as per latest updates (Of course in a simplified manner)

  • Redevelopment of 600 major railway stations taken up; Mumbai transport system being expanded; suburban network of 160 km planned for Bengaluru
  • Government will take all measures to control the use of cryptocurrencies like bitcoin, Zcash, monero
  • Personal income tax slabs remain unchanged, but standard deduction has been reintroduced at Rs 40,000 in lieu of the medical and transport allowance currently available.
  • Customs duty on smartwatches, wearable devices has been increased to 20%. For luxury cars customs duty on completely knocked down vehicle kits is now up at 15% from 10% and FY19 customs duty on completely built vehicle kits is up at 25% from 20%

And the list goes on and on and on.

And like mentioned before, it is a crucial time, so of course, the twitterati has to have some say on this. Has it ever been so, that something really important took place and the twitterati kept to themselves and kept quiet? No, so of course, being in the natural state of being, they didn’t miss a chance to grace Twitter with their hilarious tweets. Take a look

 

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