UNION BUDGET OF INDIA 2017.docx - UNION BUDGET OF INDIA 2017-2018 Name MEENAKSHI TAHILIANI Roll No:UM16059 UNION BUDGET 2017-2018 ANALYSIS The Union

UNION BUDGET OF INDIA 2017.docx - UNION BUDGET OF INDIA...

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UNION BUDGET OF INDIA 2017-2018 Name: MEENAKSHI TAHILIANI Roll No:UM16059
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UNION BUDGET 2017-2018 ANALYSIS The Union Budget of India , also referred to as the Annual financial statement in the Article 112 of the Constitution of India is the annual budget of the India and is presented a few days after the railway budget. It is presented by the Finance Minister of India. This year’s budget was released amidst hard times which were impinging on the economy in the wake of demonetization apart from other macro-economic circumstances. THEMES OF THE UNION BUDGET: 1 Farming sector 2 Rural population 3 Youth 4 Health care for poor and underprivileged 5 Infrastructure 6 Financial sector for stronger institutions 7 Speedy accountability 8 Public services 9 Fiscal management 10 Tax administration for the honest
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HIGHLIGHTS OF THE UNION BUDGET 2017-2018 DEMONITIZATION: 1 Bold and decisive measure that will have a transient impact on the economy and consequentially lead to GDP growth 2 No spillover of the demonetization effect over to the next fiscal year AGRICULTURE SECTOR: 1 Security of farmers against natural calamities 2 A sum of Rs. 10 lakh crore is allocated as credit to farmers, with 60 days’ interest waiver. 3 NABARD fund will be increased to Rs. 40,000 crore with dedicated micro irrigation of 5000 crores initial corpus 4 Irrigation corpus increased from Rs 20,000 crore to Rs 40,000 crore. 5 Dairy processing infrastructure fund will be initially created with a corpus of Rs. 2000 crore. RURAL POPULATION: 1 The government targets to bring 1 crore households out of poverty by 2019. 2 Over Rs 3 lakh crore will be spent for rural India. MGNREGA to double farmers' income. 3 Will take steps to ensure participation of women in MGNREGA up to 55%. FOR YOUTH 1 Will introduce a system of measuring annual learning outcomes and come out with an innovation fund for secondary education. 2 Focus will be on 3,479 educationally-backward blocks.
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3 Colleges will be identified based on accreditation. 4 Skill India mission was launched to maximize potential. Will set up 100 India International centers across the country. 5 Courses on foreign languages will be introduced. 6 Will take steps to create 5000 PG seats per annum. HEALTHCARE FOR POOE AND UNDERPRIVELEGED 1 Rs. 500 crore allocated for Mahila Shakthi Kendra’s. 2 Under a nationwide scheme for pregnant women, Rs. 6000 will be transferred to each person. 3 A sum of Rs. 1,84,632 crore allocated for women and children. 4 Two AIIMS will be set up in Jharkhand and Gujarat. INFRASTRUCTURE AND RAILWAYS: 1 A total allocation of Rs. 39,61,354 crore has been made for infrastructure. 2 Total allocation for Railways is Rs. 1,31,000 crore. 3 High speed Internet to be allocated to 1,50,000 gram panchayats. 4 New Metro rail policy will be announced with new modes of financing.
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