The Union Budget was presented by Mr. Arun Jaitley, Hon’ble Finance Minister of India on 1st February, 2018
The Finance Minister had a tough balancing act in the Budget of 2018 ahead of the national elections in May 2019. The Budget of 2018 is a budget which changes some of the fiscal trends of the past few decades. The first trend reversal is that the earlier budgets brought down tariff barriers into the country by systematically reducing Custom Duty across the board. This year the Custom Duty has been significantly increased in 6 to 7 key sectors. This augers well for the domestic manufacturing industry.