Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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        LATEST NEWS UPDATES | Farmer Sutra: Jaitley focuses on the rural sector    </title>
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-The Hindu

In a pre-election Budget, Finance Minister Arun Jaitley serves up a mix of populism and prudence

With a clear eye on the Lok Sabha election, Union Finance Minister Arun Jaitley pulled out all the stops in the Narendra Modi government&rsquo;s..."/>
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-The Hindu

In a pre-election Budget, Finance Minister Arun Jaitley serves up a mix of populism and prudence

With a clear eye on the Lok Sabha election, Union Finance Minister Arun Jaitley pulled out all the stops in the Narendra Modi government&rsquo;s..." />
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                            <div align="justify">-The Hindu<br /><br /><em>In a pre-election Budget, Finance Minister Arun Jaitley serves up a mix of populism and prudence<br /></em><br />With a clear eye on the Lok Sabha election, Union Finance Minister Arun Jaitley pulled out all the stops in the Narendra Modi government&rsquo;s last full Budget to promise a better deal for farmers, boost the rural economy and make the poor less vulnerable to health exigencies.<br /><br />Responding to the distress in the agriculture sector that has reared its head in various States over the past year, the government has decided to offer a minimum support price (MSP) of at least 1.5 times the expenses borne by farmers for all crops. Equity markets were briefly spooked following the move to re-introduce a tax on long-term capital gains on equity shares at the rate of 10% for all gains over ?1 lakh. No indexation benefit will be granted and the securities transaction tax will continue.<br /><br />The BSE Sensex, which had opened at 36,048.99, slipped as low as 35,501 during Mr. Jaitley&rsquo;s speech before recovering to close at 35,906 points.<br /><br />Notably, the middle class constituency that played a key part in the BJP&rsquo;s successful 2014 campaign was largely left high and dry. Despite some token measures to boost new jobs, such as footing part of the bill for new employees&rsquo; provident fund (PF) contributions for three years, Mr. Jaitley offered little respite for the salaried class.<br /><br />Citing income tax data to show that individual businesspersons paid less average tax than the salaried class, he reintroduced a flat ?40,000 deduction from taxable income for the latter in lieu of existing tax exemptions for transport and medical allowance, and extended this relief to pensioners as well.<br /><br />But any gain in take home salaries has been virtually offset by raising the 3% education cess levied on personal income tax and corporate tax. Now, a 4% education and healthcare cess will apply.<br /><br />Hopes of a respite for consumers on the indirect tax front was also extinguished in this Budget, with the Centre hiking customs duties on a range of products including mobile phones, wearable devices, television display panels, furniture, diamonds, footwear, cosmetics and dental floss. The idea is to push global producers to start making these goods in India but till that happens, consumers will need to foot higher costs.<br /><br />A much-anticipated rationalisation of the high excise duties on petrol and diesel was carried out with an eight rupee reduction in these duties, but consumers would get no relief as a new road and infrastructure cess of ?8 per litre has been levied to fund infrastructure projects. Unlike excise duties, the Centre is not required to share cess receipts with States.<br /><br />Please <a href="http://www.thehindu.com/business/budget/farmasutra-jaitley-focuses-on-the-rural-sector/article22626113.ece?homepage=true" title="http://www.thehindu.com/business/budget/farmasutra-jaitley-focuses-on-the-rural-sector/article22626113.ece?homepage=true">click here</a> to read more. <br /></div>                                                           
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                            <div align="justify">-The Hindu<br /><br /><em>In a pre-election Budget, Finance Minister Arun Jaitley serves up a mix of populism and prudence<br /></em><br />With a clear eye on the Lok Sabha election, Union Finance Minister Arun Jaitley pulled out all the stops in the Narendra Modi government&rsquo;s last full Budget to promise a better deal for farmers, boost the rural economy and make the poor less vulnerable to health exigencies.<br /><br />Responding to the distress in the agriculture sector that has reared its head in various States over the past year, the government has decided to offer a minimum support price (MSP) of at least 1.5 times the expenses borne by farmers for all crops. Equity markets were briefly spooked following the move to re-introduce a tax on long-term capital gains on equity shares at the rate of 10% for all gains over ?1 lakh. No indexation benefit will be granted and the securities transaction tax will continue.<br /><br />The BSE Sensex, which had opened at 36,048.99, slipped as low as 35,501 during Mr. Jaitley&rsquo;s speech before recovering to close at 35,906 points.<br /><br />Notably, the middle class constituency that played a key part in the BJP&rsquo;s successful 2014 campaign was largely left high and dry. Despite some token measures to boost new jobs, such as footing part of the bill for new employees&rsquo; provident fund (PF) contributions for three years, Mr. Jaitley offered little respite for the salaried class.<br /><br />Citing income tax data to show that individual businesspersons paid less average tax than the salaried class, he reintroduced a flat ?40,000 deduction from taxable income for the latter in lieu of existing tax exemptions for transport and medical allowance, and extended this relief to pensioners as well.<br /><br />But any gain in take home salaries has been virtually offset by raising the 3% education cess levied on personal income tax and corporate tax. Now, a 4% education and healthcare cess will apply.<br /><br />Hopes of a respite for consumers on the indirect tax front was also extinguished in this Budget, with the Centre hiking customs duties on a range of products including mobile phones, wearable devices, television display panels, furniture, diamonds, footwear, cosmetics and dental floss. The idea is to push global producers to start making these goods in India but till that happens, consumers will need to foot higher costs.<br /><br />A much-anticipated rationalisation of the high excise duties on petrol and diesel was carried out with an eight rupee reduction in these duties, but consumers would get no relief as a new road and infrastructure cess of ?8 per litre has been levied to fund infrastructure projects. Unlike excise duties, the Centre is not required to share cess receipts with States.<br /><br />Please <a href="http://www.thehindu.com/business/budget/farmasutra-jaitley-focuses-on-the-rural-sector/article22626113.ece?homepage=true" title="http://www.thehindu.com/business/budget/farmasutra-jaitley-focuses-on-the-rural-sector/article22626113.ece?homepage=true">click here</a> to read more. <br /></div>                                                           
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In a pre-election Budget, Finance Minister Arun Jaitley serves up a mix of populism and prudence

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                            <div align="justify">-The Hindu<br /><br /><em>In a pre-election Budget, Finance Minister Arun Jaitley serves up a mix of populism and prudence<br /></em><br />With a clear eye on the Lok Sabha election, Union Finance Minister Arun Jaitley pulled out all the stops in the Narendra Modi government&rsquo;s last full Budget to promise a better deal for farmers, boost the rural economy and make the poor less vulnerable to health exigencies.<br /><br />Responding to the distress in the agriculture sector that has reared its head in various States over the past year, the government has decided to offer a minimum support price (MSP) of at least 1.5 times the expenses borne by farmers for all crops. Equity markets were briefly spooked following the move to re-introduce a tax on long-term capital gains on equity shares at the rate of 10% for all gains over ?1 lakh. No indexation benefit will be granted and the securities transaction tax will continue.<br /><br />The BSE Sensex, which had opened at 36,048.99, slipped as low as 35,501 during Mr. Jaitley&rsquo;s speech before recovering to close at 35,906 points.<br /><br />Notably, the middle class constituency that played a key part in the BJP&rsquo;s successful 2014 campaign was largely left high and dry. Despite some token measures to boost new jobs, such as footing part of the bill for new employees&rsquo; provident fund (PF) contributions for three years, Mr. Jaitley offered little respite for the salaried class.<br /><br />Citing income tax data to show that individual businesspersons paid less average tax than the salaried class, he reintroduced a flat ?40,000 deduction from taxable income for the latter in lieu of existing tax exemptions for transport and medical allowance, and extended this relief to pensioners as well.<br /><br />But any gain in take home salaries has been virtually offset by raising the 3% education cess levied on personal income tax and corporate tax. Now, a 4% education and healthcare cess will apply.<br /><br />Hopes of a respite for consumers on the indirect tax front was also extinguished in this Budget, with the Centre hiking customs duties on a range of products including mobile phones, wearable devices, television display panels, furniture, diamonds, footwear, cosmetics and dental floss. The idea is to push global producers to start making these goods in India but till that happens, consumers will need to foot higher costs.<br /><br />A much-anticipated rationalisation of the high excise duties on petrol and diesel was carried out with an eight rupee reduction in these duties, but consumers would get no relief as a new road and infrastructure cess of ?8 per litre has been levied to fund infrastructure projects. Unlike excise duties, the Centre is not required to share cess receipts with States.<br /><br />Please <a href="http://www.thehindu.com/business/budget/farmasutra-jaitley-focuses-on-the-rural-sector/article22626113.ece?homepage=true" title="http://www.thehindu.com/business/budget/farmasutra-jaitley-focuses-on-the-rural-sector/article22626113.ece?homepage=true">click here</a> to read more. <br /></div>                                                           
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Home हिन्दी

Farmer Sutra: Jaitley focuses on the rural sector

Published on Feb 2, 2018   Modified on Feb 2, 2018

-The Hindu In a pre-election Budget, Finance Minister Arun Jaitley serves up a mix of populism and prudence With a clear eye on the Lok Sabha election, Union Finance Minister Arun Jaitley pulled out all the stops in the Narendra Modi government’s last full Budget to promise a better deal for farmers, boost the rural economy and make the poor less vulnerable to health exigencies. Responding to the distress in the agriculture sector that has reared its head in various States over the past year, the government has decided to offer a minimum support price (MSP) of at least 1.5 times the expenses borne by farmers for all crops. Equity markets were briefly spooked following the move to re-introduce a tax on long-term capital gains on equity shares at the rate of 10% for all gains over ?1 lakh. No indexation benefit will be granted and the securities transaction tax will continue. The BSE Sensex, which had opened at 36,048.99, slipped as low as 35,501 during Mr. Jaitley’s speech before recovering to close at 35,906 points. Notably, the middle class constituency that played a key part in the BJP’s successful 2014 campaign was largely left high and dry. Despite some token measures to boost new jobs, such as footing part of the bill for new employees’ provident fund (PF) contributions for three years, Mr. Jaitley offered little respite for the salaried class. Citing income tax data to show that individual businesspersons paid less average tax than the salaried class, he reintroduced a flat ?40,000 deduction from taxable income for the latter in lieu of existing tax exemptions for transport and medical allowance, and extended this relief to pensioners as well. But any gain in take home salaries has been virtually offset by raising the 3% education cess levied on personal income tax and corporate tax. Now, a 4% education and healthcare cess will apply. Hopes of a respite for consumers on the indirect tax front was also extinguished in this Budget, with the Centre hiking customs duties on a range of products including mobile phones, wearable devices, television display panels, furniture, diamonds, footwear, cosmetics and dental floss. The idea is to push global producers to start making these goods in India but till that happens, consumers will need to foot higher costs. A much-anticipated rationalisation of the high excise duties on petrol and diesel was carried out with an eight rupee reduction in these duties, but consumers would get no relief as a new road and infrastructure cess of ?8 per litre has been levied to fund infrastructure projects. Unlike excise duties, the Centre is not required to share cess receipts with States. Please click here to read more.

The Hindu, 1 February, 2018, http://www.thehindu.com/business/budget/farmasutra-jaitley-focuses-on-the-rural-sector/article22626113.ece?homepage=true

Tagged with: Union Budget 2018-19 tax buoyancy tax collection Tax Exemption minimum support price Minimum Support Prices Rural Credit Rural Crisis Rural Demand rural development Union Budget

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