Lok Sabha adjourned after Jaitley concludes Budget Speech

New Delhi [India], Feb. 1 (ANI): The Lok Sabha has been adjourned after Union Finance Minister Arun Jaitley concluded his Union Budget 2017-18 speech on Wednesday. It was the first time in the history of independent India that a combined budget (Railways and general) was presented simultaneously. Some of the key announcements of the 2017-18 Budget were: •Total expenditure of budget 2017-18 has been placed at Rs 21.47 lakh crore. •Proposal to reduce existing rate of taxation of those with income between 2.5 lakh to 5 lakh from 10% to 5%. •Surcharge of 10% for those whose annual income is Rs 50 lakh to 1 crore •5 % surcharge on incomes above Rs 1 crore to continue. •Political parties continue to receive most funds through anonymous donations. 70 years if independence the country has not been able to make political funding transparent. •Maximum cash donation any party can receive will be Rs 2000 from one source. •Political parties will be entitled to receive donations by cheque or in the digital mode from their donors. •Fiscal Deficit target for 2017-18 is 3.2%. •Unmanned railway level crossings to be done away with by 2020. •Rs 2.4 lakh crore allocated for transport sector as a whole expenditure towards high-ways raised to Rs 64,000 crore. •By 2019, all coaches of Indian Railways will be fitted with Bio-toilets. •Service charges on e-tickets booked through IRCTC will be withdrawn. (ANI)