|UNION BUDGET 2017-18 (01/02/2017)
UNION BUDGET 2017-18:LIVE UPDATES From Finance Minister Mr Arun Jaitely Budget Speach 2017 in Parliament Today(01/02/2017).
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|The Budget focused on 10(Ten) themes viz-Income tax Relief,Rural population,the youth,farming sector,The poor and infrastructure…….
|The Union Budget 2017,presented by Finance Minister Arun Jaitely in parliament LOK SABHA on wednesday.This is the 4th budget by present government.Mr. Arun Jaitely said the demonetisation move by the Indian P.M N.MODI on 08/11/2016 will not have a lasting impact of the Economy .Mr. Arun Jaitely also announced that the budget allocation for welfare children and women under various Ministries will be increased to 1,84,632 crores.
AT FIRST LIVE UPDATES THAN GET FULL COVERAGE FOR UNION BUDGET 2017
UNION BUDGET 2017 LIVE UPDATES(01/02/2017):-
8.50 AM:-Finance Minister shri Arun Jaitely at Finance Ministry,at North Block.He will meet the Officials of the Ministry before heading to President P.Mukherjee’s residence and then to parliament.
9.15 A.M:- The copies of the Budget have arrived outside parliament complex.it will now go through a round of security checks including by K-9 police squad.
9.20 A.M:-F.M Shri Arun jaitely has left North Block for Rashtrapati Bhawan .He will meet with President ahead of its presentation in Parliament.
11.00 A.M:-LOK SABHA has convened and Arun Jaitely is set to present to the Union Budget 2017-18.
11.10 A.M:- Aun Jaitely said as he stood the present the Budget ,”Madam Speaker .on the auspicious day of vasant panchami I raise to the present the Union Budget 2017-18.
|UNION BUDGET 2017 FULL COVERAGE
The 2017 Union Budget was Broadly Focused on 10(Ten) important themes-the rural population,the poor,the farming sector ,infrastructure and underprivileged heath care,the financial sector for stronger institutions,speedy accountability,public services,prudent fiscal management and tax administration for the honest.
The highlights of MR. ARUN JAITELY’S Budget speach are following below……
- DEMONETISATION is expected to have a transient impact on the economy.
- It will have a great impact on the economy and lives of people.
- Demonestation is a Bold and decisive measure that will lead to higher GDP growth.
- The effects of demonetisation will not spillover to the next fiscal.
- Sowing farmers should feel secure against natural calamities.
- A sum of RS.10 Lakh crores is allocated as credit to farmers,with in 60(sixty) days interest waiver.
- NABARD fund will be increased to RS.40,000 Crore.
- Government will setup mini labs in krishi vigiyan Kendras for soil testing.
- Irrigation corpus increased from 20,000 crore to 40,000 crore.
- Issuance of soil cards has gained momentum.
- A dedicated micro irrigation fund will be set up for NABARD With Rs 5000 crore initial corpus.
- A model law on contract farming will be prepared and shared with states.
- Dairy processing infrastructure fund will be initially created with a corpus of RS.2000 core
| FOR YOUTH
- Will introduce a system of measuring annual learning outcomes and come out with an innovation fund for secondary education.
- Focus will be on 3479 educationally-backward blocks.
- courses on Foreign languages will be introduced.
- colleges will be identified based on accerditation.
- will takes steps to create 5000 PG seats per annum.
- Skill India mission was launched to maximize potential.will step up 100 India international central across the country.
- The government targets to bring 1 crore households out of poverty by 2019.
- Over rs 3 Lakh crore will be spent for rural India. MGNREGA to double farmers’ incomes.
- During 2017-18,five lakh farm ponds will taken up under the MANREGA .
- Space technology will be used in a big way to ensure MGNERGA Works.
- Will take steps to ensure participation of women in MGNREGA upto 55%.
- The government proposes to complete 1 crore houses for those without homes.
- Will allocate rs 19,000 crore for pradhan Mantri Gram Sadak Yojana in 2017-18.
- The country well on way to achieve 100% RURAL electrification by March 2018.
- SWACHH BHARAT mission has made tremendous progress;sanitation coverage has gone up form 42% in oct 13 to 60% now.
|INFRASTRUCTURE AND RAILWAYS
- A total allocation of RS. 39,61,354 CRORE has been made for infrastructure.
- Total allocation for Railways is RS.1,31,000 CRORE.
- Totl allocation for Railways is 1,31,000 crore.
- Raksha coach with a corpus of RS.1 lakh crore for five years(for passenger safety).
- 35,000 Km of Railway line to be commissioned this year up form 2800 km Last year.
- SMS-based”clean my coach service” is put in place.
- Unmanned level crossing will be eliminated by 2020.
- By 2019 all trains will have bio-toielts.
- Five hundred stations will be made differently-abled friendly.
- Coach mitra facility will be introduced to register all coach related complaints.
- Railways will offer competitive ticket booking facility.
- Railways to partner with logistics players for front-end and back-end solutions for select commodities.
- RS.64000 CRORE ALLOCATED FOR HIGHWAYS.
- High speed Internet to be allocated to 1,50,000 gram Panchayats .
- New Metro rail policy will be announced with new modes of financing.
- A Strategic policy for crude reserves will be set up.
- Trade infra export scheme will be launched 2017-18.
- RS. 126,000 CRORE RECEIVED as energy production based investments.
- The defence sector gets an allocations of RS 274,114 crore.
|PERSONAL INCOME TAX
- Existing rate of tax for individuals between RS. 2.5-RS 5 Lakh is reduced to 5% from 10%.
- All other cat. of tax payers in subsequent brackets will get a benefit of 12,500.
- Simple one pagereturn for people with an annual income of RS. 5 Lakh other than business income.
- People filing I-T returns for the first time will not come under any government scrutiny.
- 10% surcharge on individual income above RS.50 LAKH and up to RS 1 crore to make up for RS 15,000 crore loss due to cut in personal I-T rate.15 surcharge on individual income above RS. 1 Crore to remain.