Budget 2018: What's In Store For Women?
Our Finance Minister, Mr.Arun Jaitley recently presented the Union Budget 2018. As we all know that a budget covers a wide spectrum of things, but I will list down things which would impact Women.
So, here are Mr. Jaitley's top moves some of which are direct winners , some indirect and we also have afew losers from a Women's perspective.
1-Employee Provident Fund contribution for women employees, reduced from 12% to 8% for a period of 3 years with no change in the employer's contribution.
This will result in more in hand salary.
2- This EPF reduction contribution will also incentivize employers to hire women.
3- The budget will target lending of 3 lakh crore under Mudra Yojana as a huge percentage as much as 76% of loan accounts are those of women.
4- Plans to also increase loan to self help women’s groups by as much as 37%.
5- Free gas connections for women will increase from the current 5 crore to 8 crore connections under the Ujjwala Yojana.
6- 1.26 crore accounts opened under Sukanya Samriddhi Scheme.
1- 4 crore poor people will get power connections. This will result in more people moving from rural to semi urban condition.
2- Under Swach Bharat Mission, government plans to construct 2 crore toilets. This will ensure safety and cleanliness.
3- Outlay on health, education and social protection will be 1.38 lakh crore. Tribal students to get Ekalavya Residential School in each tribal block in 2022. Welfare fund for SCs gets a boost. This will open doors to tribal kids towards education which is overall beneficial for the economy.
4- World's largest Health Protection Scheme covering over 10 crore poor and vulnerable families launched with a family limit up to 5 lakh rupees for secondary and tertiary treatment. This will ensure even the less fortunate people are entitled to proper medical services.
1- Custom duty increased on mobile phones as a move to boost "Make in India". Resulting in increasing the cost of mobile phones.
2- Customs duty on crude edible vegetable oil hiked from 12.5% to 30% and on refined edible vegetable oil from 20% to 35%. Resulting in increased cost of the vegetable oils we use for daily cooking.
3- Customs duty on sunglasses, toys and select furniture hiked. Be selective of the toys and furniture you wished to purchase due to the price hike.
4- Customs duty on imitation jewellery hiked from 15% to 20% and doubled on all watches, wearable devices and footwear to 20%. Recalculate your budget if you have allocated any amount towards imitation jewellery, watches, footwear as they will now come to you at an increased price.
Import duty on LCD/LED/OLED panels, parts of TVs hiked to 15%. If you had plans to buy a new TV then be prepared to shell out a few extra bucks.
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