5 Aug 2016

HIGHLIGHTS OF UNION BUDGET 2016-17 Download in PDF

Highlights of Union Budget 2016-17 Download in PDF
Highlights of Union Budget 2016-17 Download in PDF:
Dear Friends, Union Finance Minister, Arun Jaitley on 29 February 2016 presented Union Budget 2016-17 in the Lok Sabha. This was the second full year Budget of the NDA government and the third budget of Jaitley.


The finance minster announced nine pillars of the budget and they are Agriculture and farmers' welfare, rural sector, social sector including healthcare, education, skills and job creation, infrastructure, financial sector reforms, ease of doing business, fiscal discipline, tax reforms to reduce compliance burden.

Highlights of the Union Budget 2016-17:
·        Agricultural policy will be reorganized to double farmer income in five years
·        For gas connections, new scheme to be launched for BPL families
·        Law will be enacted to confer benefits on deserving sections on Aadhar Platform
·        Government to work for passage of insolvency and bankruptcy laws
·        Incentive for deepwater gas exploration will be provided
·        Government to enhance expenditure for social, rural and agricultural sector
·        28.5 lakh hectares will be brought under irrigation under the Pradhan Mantri Krishi Sichai Yojana
·        A dedicated long term irrigation fund will be created in NABARD with a corpus of 20000 crore rupees
·        35984 crore rupees allocation done for the farm sector
·        Agricultural credit target of 9 lakh crore rupees
·        Unified e-platform for farmers to be inaugurated on Ambedkar's birthday
·        Paramparagat Krishi Vikas Yojana to bring 5 lakh acres under organic farming
·        300 rurban clusters to be set up under Shyama Prasad Mukherji Rurban Mission
·        38500 crore rupees allocated to MNREGA
·        Quantum jump of 228% in grants to gram panchayats and urban local bodies in accordance with FFC recommendations
·        Allocation to PM Fasal Bima Yojana for 2016/17 is 5500 crores rupees
·        87765 crores rupees for rural development as a whole have been allocated in the budget
·        100 % village electrification to be achieved by 1 May 2018
·        Allocation of Pradhanmatri Gram Sadak Yojna to be increased to 19000 Crore rupees
·        65 eligible habitats to be connected via 2.23 lakh kms of road
·        300 'rurban' clusters will be developed
·        As per recommendation of 14th finance commission, 2.87 lakh crore rupees will be given as grants-in-aid to village panchyats and municipalities to boost rural economy.
·        Government to spend 850 crore rupees in a few years on animal husbandry, cattle and livestock breeding
·        Four schemes for animal welfare announced
·        States will be encouraged to take up decentralised procurement of food grains
·        5500 crore rupees allocated for crop insurance scheme
·        Hub to support SC/ST entrepreneurs
·        National dialysis service programme under PPP model to come up
·        LPG connection for women members of rural homes to be provided
·        Health insurance of up to 1 lakh rupees per family, top up of Rs 35,000 for people above 60 years
·        3000 generic drugs stores to be opened
·        Two schemes for digital literacy for rural India to cover 6 crore households in the next three years
·        9000 crore rupees allocated for Swachch Bharat Abhiyan
·        1700 crore rupees allocated for 1500 multi-skill development centres
·        10 public and 10 private educational institutions to be made world-class
·        Digital repository for all school leaving certificates and diplomas
·        1000 crore rupees provided for LPG connection to rural households in name of women; scheme to go on for 2 yrs to cover 5crore BPL households
·        500 crore rupees allocated for Stand Up India scheme
·        Certain parts of dialysis machines to be exempt from all forms of customs duty; national dialysis service programme to be launched in all districts
·        At least one crore youth to be skilled over next three years
·        62 new Navodaya Vidyalayas to be opened in next two years
·        160 airports and airstrips to be revived at a cost of 50-100 crore rupees each
·        To enable entrepreneurship in the road transport sector, Motor Vehicles Act to be amended






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