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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- 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.