(Lvie) Arun Jaitley’s budget Highlights and Union Budget 2017

 


In this article we cover Budget 2016: Arun Jaitley's  announcements Budget 2016: Arun Jaitley's biggest announcements Budget 2017: Arun Jaitley's Budget 2016: Arun Jaitley's  announcements and Budget 2017-2018: Arun Jaitley's buget 2017-2018,Arun Jaitley’s budget Highlights and budget highlights 2017, 2017 budget highlights and arun jaitley's highlights and union budget 2017, budget 2017 and union budget 2017 highlights.

Arun-Jaitley’s-budget-Highlights-and-Union-Budget-2017
Arun-Jaitley’s-budget-Highlights-and-Union-Budget-2017

Highlights and Union Budget 2017 : Finance Minister Arun Jaitley presents the 2017 Union budget. Jaitley said that double-digit inflation has been controlled and that sluggish growth has been replaced by strong growth. With demonetization, a war against black money was launched, which was an audacious and decisive gesture. This year's budget focuses on poverty eradication, farmers' issues and rural development. Here are the highlights of the budget.


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* 36% increase in FDI flows; The foreign exchange reserves at USD 361 billion in January enough to cover the needs of 12 months.

* The World Bank forecasts a GDP growth rate of 7.6% in FY18 and 7.8% in FY19

* Mini laboratories by local contractors qualified to be set up for testing soil in all 648 krishi vigyan kendras in the country

* The agricultural sector is expected to grow by 4.1%

* Agricultural loan target set at Rs 10 lakh crore in 2017-18

* Rs 9,000 higher allocation for the payment of arrears of sugar cane

* The allocation under MNREGA has increased to 48,000 crore from Rs 38,500 crore. This is the highest attribution ever, says FM Jaitley.

* Space technology to be used to monitor the implementation of the MNREGA

* Market reforms will be undertaken, States will be invited to denote perishable products under the Essential Commodities Act

* Micro-irrigation funds dedicated to create with a corpus of Rs 5000 crore.

* National testing agency to carry out all examinations in higher education, liberation CBSE and other agencies

Arun Jaitley’s budget Highlights and Union Budget 2017

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*Women's participation in MNREGA increased from 45% to 55%

* 1 household Growing out of poverty under Antodya Scheme

* Govt to set up a dairy fund of Rs 8,000 crore over three years with an initial corpus of Rs 2,000 crore.

* 27,000 crore on to be spent on PMGSY; 1 crore houses to be completed by 2017-18 for homeless

* 100% electrification of villages will be completed by May 2018

* To build a crore homes by 2019 for the homeless. PM Awas Yojana allocation increased from Rs 15,000 crore to Rs 23,000 crore.

* We are proposing to provide drinking water to 28,000 homes affected by arsenic and fluoride.

* In higher education, we will undertake reforms in UGC, empowering colleges and institutions: Jaitley.

* Allocation for rural agriculture and the allied sector in 2017-18 is record Rs 1,81,223 crore

* Prime Minister Kaushal Kendras will be expanded to 600 districts; 100 international skills centers to open to help people find employment abroad.

* Rs 500 cre allocated to set up Mahila Shakti Kendras; The allowance increased from Rs 1.56 lakh cre to Rs 1.84 lakh cr for women and the welfare of the child.

* The National Housing Bank will refinance individual loans worth 20,000 rupees in 2017-18.

* 1.5 lakh health centers to convert into health centers.

* New rules regarding medical devices will be designed to reduce their cost

* Two new AIIMS to be set up Jharkhand and Gujarat

* The bill on fashion and establishment shops to open up additional opportunities for women's employment

* For the elderly, Aadhaar health cards will be issued.

* 35 per cent increase in endowment for SC to Rs 52,393 crore

* The allowance for SC increased from Rs 38,833 to Rs 52,393 crore, an increase of 35 percent

* Capital and development expenditures set at Rs 1.31 lakh crore for Railways in 2017-18 Budget

* The total allocation for the rural, agri-food and allied sectors for 2017-18 is a record Rs 1.87 223 crore, up 24 percent from last year

* 3,500 km railway line will be commissioned in 2017-18 against 2,800 km in 2016-17

* A plan for the elderly to ensure 8 percent of guaranteed returns

* Rs 1 lakh corpus cr for railway safety fund over five years

* Unmanned railway crossings to be eliminated by 2020

* 500 stations will be differently accessible by providing elevators and escalators

* The government proposes the installation of coach Mitra to repair grievances related to train coaches

* Select the airports of Level II cities for operations, PPP development

* Delhi and Jaipur to have solid waste management plants and five others to be set up later

* Service charges on e-tickets reserved via IRCTC will be withdrawn

* The tariffs of the railways shall be fixed in terms of cost, social obligation and competition.

* New metro rail policy will be presented

* Strategic oil reserves will be established in Odisha and Rajasthan apart from 3 already built

* For the transportation sector, including railways, road and shipping, the government provides Rs 2.41 lakh crore.

* Budget allocation for roads increased to Rs 64,000 crore at FY18 of Rs 57,676 crore.

* Allocation of Rs 10,000 crore for the Bharat Net project to provide high speed broadband in FY18

* Coverage of Fasal Bima Yojana to increase from 30 pc of cultivated area to 40 pc in 2017-18 and 50 percent next year

* Digi Gaon to launch telemedicine and education

* Dedicated micro-irrigation fund to be created by NABARD to achieve the mission of drop-by-crop more.

* Second phase of development of solar energy to be resumed with the objective of generating 20,000 MW

* Commercial Infrastructure Export Program to be launched in 2017-18; Total allocation for infra in the record Rs 3.96 lakh crore.

* FIPB will be abolished.

* More than 90% of FDI proposals are now processed automatically

* Rs 2,74,114 crore assigned for defense expenses, excluding pension; This includes Rs 86,000 crore for defense capital.

* Gbno. To further liberalize FDI policy

* Resolving disputes in infrastructure projects in PPP mode will be institutionalized

Computer emergency response team to establish for cyber security of the financial sector.

* The Government will amend the Multisector Cooperatives Act to protect poor and credulous investors

* An integrated public sector oil company will be created to coincide with the world giants

* More funds beyond Rs 10,000 crore for recapitalization of banks will be provided if necessary

* Of the 76 lakh individuals who reported income of about Rs 5 lakh, 56 lakh are salaried

* New ETF with various shares to be launched in 2017-18

* CPSC railway shares such as IRCTC and IRFC to be listed on several stock exchanges

* Gbno. It will double loan target under PM Mudra Yojana to Rs 2,44,000 crore for 2017-18

* Govt doubles distribution target under Mudra Yojana at Rs 2.44 lakh crore for 2017-18

* Govt to introduce two new schemes to promote BHIM App - referral bonus for users and cash for merchants.

* A proposal to receive all government receipts beyond a certain threshold through electronic modes under consideration

* 3-year period for the tax on long-term capital gains on real estate reduced to 2 years; Index base year indexing changed from 1.4.1981 to 1.4.2001

* The regulatory board of payments will be established in RBI to regulate electronic payments, replacing the Regulation and Supervision Board in the Payments and Settlements System.

* The FRBM review committee has recommended a ratio of 60% of debt to GDP; 0.5 per cent of GDP compared to the fiscal deficit targets stipulated

* Govt considering the option to amend the Negotiable Instruments Act to ensure that dishonored check holders receive payment.

* Gbno. Create an Interactive Web-Based Platform for Defense Retirees

* Head of post office to issue passports

* Total spend on FY18 in Rs 21.47 lakh croreDuty exempt on various POS machines and iris readers to encourage digital payments.

* Capital expenditure increased 25.4 percent in fiscal year 18 compared to the previous year.

* Maximum amount of cash donation that a political party can receive will be Rs 2000 from any source as part of the effort to clear political funding.

* Political parties can receive donations by check, electronic mode; Election bonuses to be issued by RBI

* FPI will be exempt from indirect transfer provisions

* Customs duty on LNG was halved, up to 2.5 percent

* With the abolition of plan and non-plan expenditures, the government focuses on income and capital expenditures

* The government sets the fiscal deficit target at 3.2 percent for 2017-18 and 3 percent for next year.

* The income deficit fell to 2.1 percent from 2.3 percent for 2016-17

* Direct collection not proportional to the pattern of income and expenses

* Of 3.7 cr individuals who filed tax returns in 2015-16, 99 lakh showed income below the exemption limit.

* The income tax rate reduced to 5 percent for individuals who have income between Rs 2.5 lakh to Rs 5 lakh

* 10 percent surcharge on individual income above Rs 50 lakh and up to Rs 1 crore to offset Rs 15,000 crore and 5 percentage of surcharge if income above.
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