Arun Jaitley’s pro-rural Budget 2018: FM unveils mega health insurance, gives little to middle class

Arun Jaitley presenting the Union Budget 2018 in the Parliament on Thursday Union Finance Minister Arun Jaitley presents the Union Budget at Parliament, in New Delhi on Thursday. PTI Photo / TV Grab

In his last budget before general elections, Finance Minister Arun Jaitley on Thursday unveiled a slew of measures for agriculture as well as the rural sector and announced a new health insurance scheme for the poor, but provided little relief to the middle class.

Keeping the income tax rates and slabs unchanged, he introduced a Rs 40,000 Standard Deduction for salaried employees and pensioners in lieu of the present exemption in respect of transport and medical expenses. Senior citizens will get higher exemptions on income from interest on bank and post office deposits, health insurance premium and critical illness expense.