Finance minister Arun Jaitley met agriculture experts regarding the Union Budget 2018-19 which is likely on February 1.They have sought measures to offset the impact of inflation on crops and income security for farmers and also debated farm-loan waivers.This was the first such meeting and Finance minister will meet more sectorial groups this week to get their proposals for the budget.
The Narendra Modi-led government is set to present Union Budget 2018 on 1st February, just like it did last year. This budget which will be presented by Arun Jaitley will also be the last budget of the National Democratic Alliance (NDA) government before the 2019 Lok Sabha election.
Union Budget 2018 will also be India’s first budget post-GST-implementation. Even though independent India’s biggest tax reform of GST was implemented from July 1, the Budget for 2017-18 (April- March), had followed the practice of tax revenue projections under the heads of customs duty, central excise and service tax alongside direct tax numbers. With excise duty and service tax being subsumed in the Goods and Services Tax (GST), the classifications will undergo change, an official said, according to PTI.