The shining star sectors of Union Budget 2018 no doubt are Agriculture, Housing, Health and the Textile sector. It also delivers more money for rural areas, including irrigation projects and aquaculture projects, directs state governments to purchase extra solar power generated generated by farmers using solar-powered pumps. In order to boost domestic manufacturing, budget lifts customs duty on mobile phones to 20% from 15%. The govt’s decision to impose long-term capital gains tax on equity investments may dent investor sentiment for financial services companies, life insurers.
