Dear Friends;
The last seven days was magnificent for India as #RailBudget2016 and #Union Budget are presented by Shri Suresh Prabhu and Shri Arun Jaitley respectively.
Here I am trying to narrate the two budgets as I taken to them;
Union
Finance Minister Shri Arun Jaitley presented Union Budget 2016-17 on 29th
February 2016.
He said that the budget proposals are built on nine pillars which include:
*This is just the detailed summery of the Budgets and how I collected those.
The last seven days was magnificent for India as #RailBudget2016 and #Union Budget are presented by Shri Suresh Prabhu and Shri Arun Jaitley respectively.
Here I am trying to narrate the two budgets as I taken to them;
“Union
Minister Shri Arun Jaitley presented
Budget 2016-17”
He said that the budget proposals are built on nine pillars which include:
- Agriculture and Farmers’ Welfare;
- Rural Sector;
- Social Sector including Healthcare;
- Education, Skills and Job Creation;
- Infrastructure and Investment;
- Financial Sector Reforms;
- Governance and Ease of Doing Business;
- Fiscal Discipline and
- Tax Reforms.
He added that major focus on massive mission to provide LPG
connection to poor households.
Rs.
2.87 Lakh crore Grant in Aid to Gram Panchayats and Municipalities, setting up
of 1500 Multi Skill Training Institutes and incentives for jobs creation.
The Railway Minister said GDP has now accelerated to 7.6%.
Presenting his third Budget in the Lok Sabha Shri Arun Jaitley added that the country’s external situation is robust and the Current Account deficit has declined from 18.4% billion US dollars in the first half of last year to 14.4 billion this year.
Shri Arun Jaitley said that the government will undertake significant reforms to ensure that all Government benefits are conferred upon persons who deserve it, by giving a statutory backing to the AADHAR platform.
Shri Arun Jaitley announced that the government will reorient its interventions in the farm and non-farm sectors to double the income of the farmers by 2022.
The Railway Minister said GDP has now accelerated to 7.6%.
Presenting his third Budget in the Lok Sabha Shri Arun Jaitley added that the country’s external situation is robust and the Current Account deficit has declined from 18.4% billion US dollars in the first half of last year to 14.4 billion this year.
Shri Arun Jaitley said that the government will undertake significant reforms to ensure that all Government benefits are conferred upon persons who deserve it, by giving a statutory backing to the AADHAR platform.
Shri Arun Jaitley announced that the government will reorient its interventions in the farm and non-farm sectors to double the income of the farmers by 2022.
The Finance Minister
announced creation of a dedicated Long Term Irrigation Fund in NABARD with an
initial corpus of about Rs. 20,000 crore.
Shri Arun Jaitley said that the Soil Health Card Scheme will cover all 14 crore farm holdings by March 2017.
Finance Minister announced that the allocation under Pradhan Mantri Gram Sadak Yojana has been increased to Rs. 19,000 crore and it will connect remaining 65,000 eligible habitations by 2019.
In the Budget 2016-17 special focus has been given to ensure adequate and timely flow of credit to the farmers.
Shri Arun Jaitley announced that a sum of Rs. 2.87 lakh crore will be given to rural sector as Grant in Aid to Gram Panchayats and Municipalities.
The Finance Minister announced a massive mission to provide LPG connection in the name of women members of poor households for which is estimated Rs. 2000 crore.
Shri Arun Jaitley also announced a new health protection scheme which will provide health cover up to Rs. 1 lakh per family for economically weak families.
The Finance Minister emphasized on skill development to bring entrepreneurship to the doorsteps of youth through Pradhan Mantri Kaushal Vikas Yojana (PMKVY).
Shri Arun Jaitley announced that the government will pay the Employee Pension Scheme contribution of 8.33% for all new employees enrolling in EPFO for the first three years of their employment.
Shri Arun Jaitley said that the Soil Health Card Scheme will cover all 14 crore farm holdings by March 2017.
Finance Minister announced that the allocation under Pradhan Mantri Gram Sadak Yojana has been increased to Rs. 19,000 crore and it will connect remaining 65,000 eligible habitations by 2019.
In the Budget 2016-17 special focus has been given to ensure adequate and timely flow of credit to the farmers.
Shri Arun Jaitley announced that a sum of Rs. 2.87 lakh crore will be given to rural sector as Grant in Aid to Gram Panchayats and Municipalities.
The Finance Minister announced a massive mission to provide LPG connection in the name of women members of poor households for which is estimated Rs. 2000 crore.
Shri Arun Jaitley also announced a new health protection scheme which will provide health cover up to Rs. 1 lakh per family for economically weak families.
The Finance Minister emphasized on skill development to bring entrepreneurship to the doorsteps of youth through Pradhan Mantri Kaushal Vikas Yojana (PMKVY).
Shri Arun Jaitley announced that the government will pay the Employee Pension Scheme contribution of 8.33% for all new employees enrolling in EPFO for the first three years of their employment.
The
Finance Minister said the Sagarmala Project has already been rolled out in the
port sector.
In
the Civil Aviation Sector action plan is being drawn up to revive airports.
He said that the government is drawing up a comprehensive plan, spanning next 15 to 20 years to augment the investment in nuclear power generation in the power sector.
The Minister announced reforms in FDI Policy in the areas of Insurance and Pension.
Expressing concern over problem of Public Sector Banks, he said an allocation of Rs. 25,000 crore is being proposed towards recapitalization of Public Sector Banks.
The total expenditure in the Budget for 2016-17 has been projected at Rs. 19.78 lakh crore.
He said that the government is drawing up a comprehensive plan, spanning next 15 to 20 years to augment the investment in nuclear power generation in the power sector.
The Minister announced reforms in FDI Policy in the areas of Insurance and Pension.
Expressing concern over problem of Public Sector Banks, he said an allocation of Rs. 25,000 crore is being proposed towards recapitalization of Public Sector Banks.
The total expenditure in the Budget for 2016-17 has been projected at Rs. 19.78 lakh crore.
*This is just the detailed summery of the Budgets and how I collected those.
Rail budget is in my another blog
Thanks
Gautam Tripathy.
Thanks
Gautam Tripathy.
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