TEAM Name : Hurricanes

Team Members : Sidhartha Jain

: Shivam Sharma
: Vinay Jain
Annual Budget
Presentation
2017- 2018
THE MOST SUCESSFUL BUDGET FOR
COMMON MAN
The Union Budget of India for 20132014 was
presented by P. Chidambaram on 28 February 2013.
The Interim Union Budget for 20142015 was
presented on February 17, 2014.
The Union Budget of India for 20142015 was
presented by Arun Jaitley on 10 July 2014.
The Union Budget of India for 20152016 was
presented by Arun Jaitley on 28 February 2015
(THESE ALL BUDGET ARE TO BE PREPARED FOR
GIVING THE REAXATION TO THE COMMON MAN &
AND INCREASING ITS PUCHASING POWER AND
IMPROVE IN STANDARD OF LIVING)
Arun Jaitley's Budget 2017-2018:
HISTORY OF INDIAN BUDGET
According to Article 112 of the Indian Constitution, the Union
Budget of a year, also referred to as the annual financial
statement, is a statement of the estimated receipts and
expenditure of the government for that particular year.
The first Union budget of independent India was presented by
R. K. Shanmukham Chetty on November 26, 1947.
Finance Minister Arun Jaitley has completed the task of
presenting Union Budget 2017 for FY 2017-18 today. Everyone
has expected that budget 2017 will bring a big smile to the
common man.
Generally the budget is announced on every last day of Feb
either it is ( 28th or 29th in case of leap year)
But this is to be announced on 1st of Feb.
And on 8th Jan Mr Jaitley said the final anouncement date of
budget 2017 is on 1st Feb.
 DEMONETIZATION IMPACT ON
BUDGET
1. 1. Demonetisation+ was a bold and decisive strike in a series of measures to arrive at a new
normal of bigger, cleaner and real GDP.

2. Demonetisation and GST+ will have an epoch making impact.

3. For many decades tax evasion was way of life for many. Post demonetisation, India is moving
towards a formal economy. The government is now seen as a trusted custodian of public money.

4. There has been higher GDP growth and tax collection due to demonetisation.
 Here are the highlights of Union
Budget 2017
Income Tax rate cut to 5 pc for individuals having income
between Rs 2.5 lakh to Rs 5 lakh (it is the major big relaxation
in tax for the lower- middle man) along with they also
providing a Tax Rebate of 5000 RS. Under Sec 87(A)
10 pc surcharge on individual income above Rs 50 lakh and
upto Rs 1 cr and on exceeding RS 1 Crore 15% Surcharge to
be collected on the applied tax slabe rate.
They recorded a 34% increase in collection of direct Tax after
Demonetisation.
No cash Transaction above RS 3 Lakh will be permitted.
GDP will be bigger, cleaner after demonetisation.
If the limit of Rs 1.5 lakh under Section 80C for investment is
used fully, the tax would be zero for people with income of Rs
4.5 lakh.
LATEST SLAB RATE SYSTEM
KEY EFFECTS ON COMMON MAN'S
WALLET
Pensions to be partially taxable : Under the National Pension
Scheme, the government announced an exemption for
withdrawal of up to 40% of the corpus at the time of
retirement.
House Rent Allowance : Jaitley said that the tax exemption
for house rent allowance will be raised to Rs 60,000 from
the current Rs 24,000-level. ( The Some other method are
also used in calculating the Taxable value of HRA)
Service tax : The government, in the Union Budget for 2016-
17, decided to keep service tax rates unchanged at 14.5%
(14% service tax + 0.5% Swach Bharat Cess) The extra 0.5%
are to be charged for the krishi kalyan yojna
Winner Of Budget 2017-2018
Consumer Goods and Automakers: Because
of reduction in tax from 10% to 5%.
Farmers: The budget pledge a record of
agriculture credit of 10 Trillion RS.
Real Estate: The budget proposed that
property sales after 2 years will also receive
a more tax benefits.
Banks: The government proposed injecting at
least 100 billion of capital into state- owned
lenders.
Losers Of Budget 2017-2018
Drug Makers: As part of the rural focus, the
government proposed amending rules
governing pharmaceuticals to bring down
prices, make health care affordable ( stock
affected include Dr.Reddys Laboratory.
Cigarette Makers: An increase in the excise
duty by 6%, as well as boost in the levy on
cigarettes made with tobacco substitudes,
may affect companies including ITC and
Godfrey Phillips India Ltd
Questions?