Union Budget

Key Highlights of Union Budget 2018-19

Finance Minister Shri Arun Jaitley presented the general budget 2018-19 in the Parliament. -more emphasis on the Agricultural sector and stressed on the focus of government towards Employment Generation in 2018-19

Service Sector at more than 8% growth rate. And the Manufacturing sector is on a good growth.

Improvement in Foreign Direct Investment.

AGRICULTURE AND ALLIED SECTORS

Prime Minister Krishi Sampada Yojana is a flagship programme aimed at boosting investment in food processing

Allocation of Ministry of Food Processing is being doubled to 1400 crore in 2018-19

Government proposed to launch an ‘‘Operation Greens’’ and a sum of Rs 500 crore is allocated for this purpose to promote Farmer Producers Organizations (FPOs), Agri-logistics, Processing facilities and professional management

Existing 22,000 rural Haats will be upgraded and developed into Gramin Agricultural Markets (GrAMs). In these GrAMs, the physical infrastructure will be strengthened using MGNREGA and other Government Schemes.

It is planned to liberalize the export of agri-commodities and also set up state-of-the-art testing facilities in all the 42 Mega Food Parks

Bamboo is phrased as ‘Green Gold’

Government proposed to extend the facility of Kisan Credit Cards to fisheries and animal husbandry farmers to help them meet their working capital needs

RURAL DEVELOPMENT:

Under Prime Minister Awas Scheme Rural Houses planned in 2017-18 is 51 lakhs and 51 lakh houses during 2018-19 which is more than one crore houses will be constructed exclusively in rural areas. In urban areas the assistance has been sanctioned to construct 37 lakh houses

An amount of Rs 16,000 Crore is being spent under Prime Minister Saubhagya Yojana for providing electricity to 4 Crore households of the country free of charge.

Government has already constructed more than 6 crore toilets under Swacch Bharat Mission and is planning to further construct around 2 crore toilets.

It is proposed to increase the target of providing free LPG connection to 8 crore poor women under Prime Minister’s Ujjwala Scheme to make poor women free from the smoke of wood

An amount of Rs 2,600 Crore is allocated for Ground water irrigation scheme under Prime Minister Krishi Sinchai Yojna- Har Khet ko Pani

HEALTH AND SOCIAL BENEFITS

Allocation on National Social Assistance Programme this year has been earmarked at Rs 9975 crore

Two major Initiatives:    Ayushman Bharat programme   & National Health Protection Scheme

Ayushman Bharat programme is aimed at making path breaking interventions to address health holistically, in primary, secondary and tertiary care system covering both prevention and health promotion. Rs 1200 Crore is outlayed for this flagship programme.

National Health Protection Scheme to cover over 10 crore poor and vulnerable families providing coverage upto 5 lakh rupees per family per year for secondary and tertiary care hospitalization. This will be the world’s largest government funded health care Programme.

Government Allocated additional Rs600 crore to provide nutritional support to all TB patients at the rate of Rs500 per month for the duration of their treatment

It is proposed to set up 24 new Government Medical Colleges and Hospitals by upgrading existing district hospitals in the country to ensure that there is at least 1 Medical College for every 3 Parliamentary Constituencies and at least 1 Government Medical College in each State of the country.

EDUCATION

It is proposed to increase the digital intensity in education and move gradually from ‘‘black board’’ to ‘‘digital board.

It has been decided that by the year 2022, every block with more than 50% ST population and at least 20,000 tribal persons, will have an Ekalavya Model Residential School

To step up investments in research and related infrastructure in premier educational institutions, including health institutions, it is proposed to launch a major initiative named ‘‘Revitalising Infrastructure and Systems in Education (RISE) by 2022’’ with a total investment of Rs 1,00,000 crore in next four years.

The Government would launch the ‘‘Prime Minister’s Research Fellows (PMRF)’’ Scheme this year. Under this sheme, 1,000 best B.Tech students each year from premier institutions will be selected and will be provided with facilities to do Ph.D in IITs and IISc, with a handsome fellowship.

MSME :

  • MUDRA Yojana launched in April, 2015 has led to sanction of `4.6 lakh crore in credit from 10.38 crore MUDRA loans.
  • 76% of loan accounts are of women more than 50?long to SCs, STs and  OBCs.
  • It is proposed to set a target of Rs 3 lakh crore for lending under MUDRA for 2018-19
  • The Government has proposed an outlay of `7148 crore for the textile sector in 2018-19.

EMPLOYMENT:

  • The Government is setting up a model aspirational skill centre in every district of the country under Pradhan Mantri Kaushal Kendra Programme. •
  • 306 Pradhan Mantri Kaushal Kendra have been established for imparting skill training through such centers.

INFRASTRUCTURE

Smart Cities Mission aims at building 100 Smart Cities  • 99 Cities have been selected with an outlay of `2.04 lakh crore

The AMRUT Programme focuses on providing water supply to all households in 500 cities. State level plans of `77,640 crore for 500 cities have been approved.

Government has targeted to complete National Highways exceeding 9000 kilometers length during 2017-18. • Ambitious Bharatmala Pariyojana has been approved for providing seamless connectivity of interior and backward areas and borders of the country to develop about 35000 kms in Phase-I at an estimated cost of `5,35,000 crore.

Airport Authority of India (AAI) has 124 airports. It is proposed to expand our airport capacity more than 5 times to handle a billion trips a year under a new initiative – NABH Nirman.

Rs 10000 crore has been out layed in 2018-19 for creation and augmentation of Telecom Infrastructur

TECHNOLOGY

Digital India Programme is doubled to Rs 3073 crore in 2018-19

the Department of Telecom will support establishment of an indigenous 5G Test Bed at IIT, Chennai.

on infrastructure for 2018- 19 is being increased to `5.97 lakh crore against estimated expenditure of `4.94 lakh crore in 2017-18.

TAXATION

  • In financial year 2016-17, 85.51 lakhs new taxpayers filed their returns of income as against 66.26 lakhs in the immediately preceding year.
  • The number of effective tax payer base increased from 6.47 crores at the beginning of F.Y.14-15 to 8.27 crores at the end of F.Y.16-17\
  • Increased customs duty on mobile phones from 15% to 20%, on some of their parts and accessories to 15% and on certain parts of TVs to 15% to promote creation of more jobs in the country

MISCELLANEOUS

  • A Scheme will be launched called as Galvanizing Organic Bio-Agro Resources Dhan (GOBAR-DHAN) for management and conversion of cattle dung and solid waste in farms to compost, fertilizer, bio-gas and bio-CNG.
  • With the roll out of GST, It is proposed to change the name of Central Board of Excise and Customs [CBEC] to Central Board of Indirect Taxes and Customs (CBIC).
  • A total of 187 projects have been sanctioned under the Namami Gange programme for infrastructure development, river surface cleaning, rural sanitation and other interventions at a cost of Rs16,713 crore. 47 projects have been completed and remaining projects are at various stages of execution. All 4465 Ganga Grams – villages on the bank of river - have been declared open defecation free.