Our approach in preparing the Budget is to spend more on rural areas, infrastructure and poverty alleviation with fiscal prudence.14. Total allocation for rural, agricultural and allied sectors for 2017-18 is Rs 187223 crore, which is 24% higher than last year.18. Out of 3.7 crore who filed tax returns in 2015-16, only 24 lakh persons showed income above Rs 10 lakh.39. Of 76 lakh individuals who reported income of over Rs 5 lakh, 56 lakh are salaried.40. Small firms with turnover up to Rs 50 crore to pay 25% tax now, instead of 30%.41.

Source: Times of India February 01, 2017 05:44 UTC