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5 benefits FM Arun Jaitley provides to women in Budget 2018

Finance Minister Arun Jaitley on Thursday announced a number of schemes and measures that are expected to benefit women in the country.

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Finance Minister Arun Jaitley on Thursday announced a number of schemes and measures that are expected to benefit women in the country.

Here are five key takeaways for women from Union Budget 2018:
- Arun Jaitley proposed to increase the target of providing free LPG connections to 8 crore women living below the poverty line.

- Under "Beti Bachao Beti Padhao", Sukanya Samriddhi Account Scheme was launched in January 2015. Until November 2017 more than 1.26 crore accounts have been opened across the country in the name of girl-child securing an amount of Rs.19,183 crore.

- The government substantially increased the allocation of National Rural Livelihood Mission to Rs. 5750 crore in 2018-19. Jaitley said that loans to Self Help Groups (SHGs) of women increased to about Rs 42,500 crore in 2016-17, growing 37 per cent over previous year. The government is confident that loans to SHGs will increase to Rs.75,000 crore by March, 2019.

- In a bid to boost women's participation in formal sector jobs, Jaitley announced that only eight per cent EPF will be charged from women. "Facility of fixed term employment to be extended. 12 per cent government contribution to EPF for new employees. Women's contribution to EPF to be reduced to eight per cent for first three years," Jaitley said.

- Stressing the need to reach out to every household of old, widows, orphaned children, divyaang and deprived as defined by the Socio-Economic Caste Census, the Finance Minister enumerated the implementation of a comprehensive social security and protection programme. He announced a sum of Rs. 9, 975 crore to be allocated for the National Social Assistance Programme this year.

This was Narendra Modi's government's fifth Budget which was presented by Arun Jaitley. 

Besides, the above mentioned schemes for womes, Jaitley made no changes to the current Income Tax slab. Howeverm he said that the all salaries tax-payers would get a standard deduction of Rs 40,000 on their income in lieu of medical and transport reimbursements. 

Union Finance Minister Arun Jaitely also said that bitcoins have no place in in formal economy of ‘demonetised’ India. In what can be seen as a ban in offing, the Finance Minister said that the Narendra Modi government will take all steps to eliminate use of cryptocurrencies.

However, he said that the government will encourage vlockchain technology for making payments.

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