Budget 2018 made for common people's welfare: Yogi

Uttar Pradesh Chief Minister Yogi Adityanath on Thursday termed Union Budget 2018 as 'historic' and added that it will give a new impetus to the economy.

He also expressed gratitude to Prime Minister Narendra Modi and Union Finance Minister Arun Jaitley for keeping the welfare of poor and needy in mind in the Union Budget.

"This Union Budget was made keeping poor, villages, and elderly people's welfare in mind. My greetings to Prime Minister Modi and congratulations to Finance Minister Arun Jaitley,"

The Chief Minister also said that the arrangements have been made for the welfare of poor and the backward classes.

Earlier in the day, Finance Minister Arun Jaitley stressed that this year's Union Budget would focus on four aspects namely - strengthening of agriculture, education, healthcare benefits and improving infrastructure.

Jaitley also announced two new measures in his fifth Budget under the government's Ayushman Bharat scheme, which are expected to take healthcare to greater heights.

Jaitley also proposed to cut the corporate income tax rate to 25 percent for companies with a turnover of up to Rs. 250 crore.

While presenting the Budget speech, the minister said that the tweak will result in 7,000 companies coming under the 25 percent tax slab.

He added that the government will receive Rs. 7,000 crore less in the form of revenues due to this decision.

--ANI