Highlight Pointers of Union Budget 2017-18

Union Budget 2017-18 Highlights

Themes of the Budget

  • Farmers, for whom we have committed to double the income in five years.
  • Rural Population Providing employment and basic infrastructure.
  • Youth Energizing them through education, skills and jobs.
  • Poor and the underprivileged Strengthening the systems of social security, health care and affordable housing.
  • Infrastructure For efficiency, productivity and quality of life.
  • Financial Sector Growth and stability through stronger institutions.
  • Digital Economy For speed, accountability and transparency.
  • Public Service Effective governance and efficient service delivery through people’s participation.
  • Prudent Fiscal Management To ensure optimal deployment of resources and preserve fiscal stability.

Sectorwise Performance Agriculture

  • Sowing farmers should feel secure against natural calamities.
  • A sum of Rs 10 lakh crore is allocated as credit to farmers, with 60 days interest waiver.
  • NABARD fund will be increased to Rs 40000 crore.
  • The government will set-up mini labs in Krishi Vigyan Kendras for soil testing.
  • A dedicated micro irrigation fund will be set-up for NABARD with Rs 5000 crore initial corpus.
  • Irrigation corpus increased from Rs 20000 crore to Rs 40000 crore.
  • Dairy processing infrastructure fund will be initially created with a corpus of Rs 2000 crore.
  • Issuance of soil cards has gained momentum.
  • A model law on contract farming will be prepared and shared with the States.

Infrastructure and Railways

  • 3500 km of railway lines to be commissioned this year up from 2800 km last year.
  • By 2019 all trains will have bio-toilets.
  • A total allocation of Rs 3961354 crore has been made for infrastructure
  • Total allocation for Railways is Rs 131000 crore.
  • No service charge on tickets booked through IRCTC.
  • Raksha coach with a corpus of Rs 1 lakh crore for five years (for passenger safety).
  • Unmanned level crossings will be eliminated by 2020.
  • SMS-based ‘clean my coach service’ is put in place.
  • Coach Mitra facility will be introduced to register all coach related complaints.
  • 500 stations will be made differently-abled friendly.
  • Railways to partner with logistics players for front-end and back-end solutions for select commodities.
  • Railways will offer competitive ticket booking facility.
  • Rs 64000 crore allocated for highways-
  • High speed Internet to be allocated to 150000 Gram Panchayats.
  • New metro rail policy will be announced with new modes of financing.

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Financial Sector

  • FDI policy reforms—more than 90% of FDI inflows are now automated.
  • Shares of Railway PSE like IRCTC will be listed on stock exchanges.
  • Bill on resolution of financial firms will be introduced in this session of Parliament.
  • Foreign Investment Promotion Board will be abolished.
  • Revised mechanism to ensure time-bound listing of CPSEs.
  • Computer emergency response team for financial sector will be formed.
  • Pradhan Mantri Mudra Yojana lending target fixed at f 2.44 lakh crore for 2017-18.
  • Digital India-BHIM app will unleash mobile phone revolution.
  • The government will introduce two schemes to promote BHIM
  • App—referral bonus for the users and cash back for the traders.
  • Negotiable Instruments Act might be amended.
  • DBT to LPG consumers, Chandigarh is kerosene-free, 84 government schemes are on the DBT platform.
Updated: March 5, 2017 — 6:14 pm

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