Union Budget 2017 Highlights - Pdf Download
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Highlights of Union
Budget 2017
o
Govt doubles distribution target
under Mudra Yojana to Rs 2.44 lakh crore for 2017-18
o
Govt to double lending target under
PM Mudra Yojana to Rs 2,44,000 crore for 2017-18
o
Govt to introduce two new schemes to
promote BHIM App -referal bonus for users and cash back for traders.
o
Integrated public sector oil major to
be created to match global giants
o
More funds beyond Rs 10,000 cr for
recapitalisation of banks will be provided if needed
o
New ETF with diverse stocks will be
launched in 2017-18
o
Of 76 lakh individuals who reported
income of over Rs 5 lakh, 56 lakh are salaried
o
The shares of railway CPSCs like
IRCTC and IRFC to be listed on various stock exchanges
o
1.5 lakh health sub centres to be
converted to Health Wellness Centres.
o
100 per cent electrification of
villages to be completed by May 2018
o
27,000 crore on to be spend on PMGSY;
1 crore houses to be completed by 2017-18 for houseless
o
3 yr period for long-term capital
gains tax on immovalble property reduced to 2 years; base year indexation
shifted from 1.4.1981 to 1.4.2001
o
35 per cent increase in allocation
for SC to Rs 52,393 crore
o
36 per cent increase in FDI flow;
forex reserves at USD 361 billion in January enough to cover 12 months needs.
o
500 stations will be differently
abled by providing lifts and escalators
o
A proposal to receive all government
receipts beyond a certain threshold through e-modes under consideration
o
A scheme for senior citizens to
ensure 8 per cent guaranteed returns
o
Agricultural sector is expected to
grow at 4.1 per cent this fiscal
o
Allocation for SCs increased from Rs
38,833 cr to Rs 52,393 crore, a rise of 35 per cent
o
Allocation of Rs 10,000 crore for
Bharat Net project for providing high-speed broadband in FY18
o
Allocation under MNREGA increased to
48,000 crore from Rs 38,500 crore. This is highest ever allocation, says FM
Jaitley.
o
Budget allocation for highways
stepped up to Rs 64,000 crore in FY18 from Rs 57,676 crore.
o
Capital and development expenditure
pegged at Rs 1.31 lakh crore for railways in 2017-18 from Budget
o
Capital expenditure stepped up by
25.4 per cent in FY18 over previous year.
o
Computer emergency response team to
be set for cyber security of financial sector.
o
Coverage of Fasal Bima Yojana to go
up from 30 pc of cropped area to 40 pc in 2017-18 and 50 per cent next year
o
Crude oil strategic reserves to be
set up in Odisha and Rajasthan apart from 3 already constructed
o
Dedicated micro-irrigation fund to be
created with a corpus of Rs 5000 crore.
o
Dedicated micro-irrigation fund to be
set up by NABARD to achieve mission of Per Drop, More Crop.
o
Delhi
o
Digi Gaon will be launched to promote
tele-medicine and education
o
Dispute resolution in infrastructure
projects in PPP mode will be institutionalised
o
FIPB will be abolished.
o
For senior citizens, Aadhaar based
health cards will be issued.
o
For transport sector, including
railways, road and shipping, government provides Rs 2.41 lakh crore.
o
FRBM review committee has recommended
60 per cent debt to GDP ratio; 0.5 per cent of GDP deviation from stipulated
fiscal deficit targets
o
Government proposes Coach Mitra
facility to redress grievances related to rail coaches
o
Govt considering option to amend
Negotiable Instruments Act to ensure that holders of dishonoured cheques get
payment.
o
Govt to further liberalise FDI policy
o
Govt to set up a web-based
interactive platform for defence pensioners
o
Govt to set up dairy processing fund
of Rs 8,000 crore over three years with initial corpus of Rs 2,000 crore.
o
Govt will amend the Multi-state
Cooperative Act to protect the poor and gullible investors
o
Head post offices to issue passports
o
In higher education, we will
undertake reforms in UGC, give autonomy to colleges and institutions: Jaitley.
o
Market reforms will be undertaken,
states will be asked to denotify perishables from Essential Commodities Act
o
Maximum amount of cash donation a
political party can receive will be Rs 2000 from any one source as part of
effort to clean political funding.
o
Mini labs by qualified local
entrepreneurs to be set up for soil testing in all 648 krishi vigyan kendras in
the country
o
Model Shops and Establishment Bill to
open up additional opportunities for employment of women
o
National Housing Bank will refinance
indiviual loans worth Rs 20,000 crore in 2017-18.
o
National Testing agency to conduct
all examinations in higher education, freeing CBSE and other agencies
o
New metro rail policy to be unveiled
o
New rules regarding medical devices
will be devised to reduce their cost
o
Over 90 per cent of FDI proposls are
now processed through automatic route
o
Participation of women in MNREGA
increased to 55 pc from 45 pc in past
o
Payment regulatory board to be set up
in RBI to regulate electronic payments, replacing Board for Regulation and
Supervision in Payments and Settlements System.
o
PM Kaushal Kendras will be extended
to 600 districts; 100 international skill centres to be opened to help people
get jobs abroad.
o
Political parties can receive
donations in cheque, electronic mode; electoral bonds to be issued by RBI
o
Railway line of 3,500 km will be
commissioned in 2017-18 as against 2,800 km in 2016-17
o
Railway tariffs to be fixed on the
basis of cost, social obligation and competition.
o
Rs 1 lakh cr corpus for railway
safety fund over five years
o
Rs 2,74,114 crore allocated for
defence expenditure, excluding pension; This includes Rs 86,000 crore for
defence capital.
o
Rs 500 cr allocated to set up Mahila
Shakti Kendras; Allocation raised from Rs 1.56 lakh cr to Rs 1.84 lakh cr for
women & child welfare.
o
Rs 9,000 cr higher allocation for
payment of sugarcane arrears
o
Second phase of solar power development
to be taken up with an aim of generating 20,000 MW
o
Select airports in tier-II cities to
be taken up for operations, development on PPP mode
o
Service charge on e-tickets booked
through IRCTC will be withdrawn
o
Space technology to be used for
monitoring MNREGA implementation
o
Target of agriculture credit fixed at
Rs 10 lakh crore in 2017-18
o
The allocation for rural agri and
allied sector in 2017-18 is record Rs 1,81,223 crore
o
To construct one crore houses by 2019
for homeless. PM Awas Yojana allocation raised from Rs 15,000 crore to Rs
23,000 crore.
o
Total allocation for rural, agri and
allied sectors for 2017-18 is a record Rs 1,87,223 crore, up 24 per cent from
last year
o
Total expenditure in FY18 at Rs 21.47
lakh croreDuty exempted on various POS machines and iris readers to encourage
digital payments.
o
Trade Infrastructure Export Scheme to
be launched in 2017-18; total allocation for infra at record Rs 3.96 lakh
crore.
o
Two new AIIMS to be set up Jharkhand
and Gujarat
o
Unmanned railway level crossings to
be eliminated by 2020
o
We propose to provide safe drinking
water to 28,000 arsenic and fluoride affected habitations.
o
World Bank expects GDP growth rate at
7.6 per cent in FY18 and 7.8 per cent in FY19
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