#WeeklyNewsRoundUp: FM Keeps Income Tax Slabs Unchanged, Middle-Class Taxpayers Miffed
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Finance Minister Arun Jaitley made the middle class slightly happy in the Union Budget 2018-19 by bringing back standard reduction of Rs 40,000 for the salaried employee in lieu of transport allowance and medical reimbursement. Stating the standard deduction would benefit 2.5 crore people, Jaitley in his Budget Speech said there would be no further changes to personal tax slabs.
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The Delhi Development Authority (DDA) is likely to provide relief to local shopping centres, which were earlier known as shop-cum-residential areas, by increasing the floor area ratio from 180 to 300. This means they will get more ground coverage and floors — from the earlier three storeys to four. According to media reports, the Centre is also reportedly discussing whether to invoke 'larger public interest' to reduce conversion charges to help traders at the risk of sealing.
Meanwhile, over 60 properties were sealed on January 30 in north and south Delhi for alleged violation of civic norms.
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A new parking policy for the national capital has been notified by Lieutenant-Governor Anil Baijal on January 29. This paves the way for authorities to levying charges on parking of vehicles on designated streets and lanes in residential areas. The Delhi Maintenance and Management of Parking Rules, 2017, is aimed at discouraging on-street and long-duration parking in the national capital, which is grappling with traffic issues of gargantuan proportions.
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The Maharashtra government has received clearance from the Ministry of Defence for preparing a detailed project report of the proposed international airport near the Pune city. German company Dorsch is preparing the detailed project report (DPR) , and will also develop the new airport at Purandar in Pune. The primary estimated cost of the airport is Rs 14,000 crore.
Source: Media reports