- 1 Indian Union Budget 2017
- 2 Final Report on “Union Budget 2017” by Arun Jaitley infographic images
- 2.1 Demonetization : Union Budget 2017 by Finance Minister Arun Jaitley
- 2.2 Indian Union Budget 2017 on Rural population
- 2.3 Indian Union Budget 2017 by Finance Minister Arun Jaitley on Financial situation
Indian Union Budget 2017
Indian Union Budget 2017, union budget, union budget 2017, future budget says Modi.
Final Report on “Union Budget 2017” by Arun Jaitley infographic images
Today morning at 11 AM Indian finance minister arun jaitley released the “UNION BUDGET 2017”. Here is a complete final report of union budget 2017 by arun jaitely infographic images. Prime Minister Narender modi words on Union Budget 2017.
Indian Union Budget 2017 by Arun Jaitely
Union Budget 2017 by Finance Minister Arun Jaitley presented on jan 1st 2017 Wednesday at Parliament focused largely on 10 topics – agriculture, the rural population, youth, the poor and disadvantaged healthcare, infrastructure, the financial sector for stronger institutions, quickly accountability, public services, prudent fiscal management and tax administration for the fair.
Demonetization : Union Budget 2017 by Finance Minister Arun Jaitley
Demonetization expected to have a temporary impact on the economy.
It will have a major impact on the economy and people’s lives.
Demonetization is a bold and decisive action which will lead to higher GDP growth.
The effects of demonetization will not spill over to the next fiscal.
Union Budget 2017 on Agriculture sector
Sow farmers must feel protected against natural disasters.
An amount of Rs. 10 lakh crore is allocated as loans to farmers, with 60 days interest waiver.
NABARD fund will be increased to Rs. 40,000 crore.
Government will set up mini-labs in Krishi Vigyan Kendras for soil research.
A special micro irrigation fund will be set up with NABARD Rs 5,000 crore initial corpus.
Irrigation corpus increased from Rs 20,000 crore to Rs 40,000 crore.
Dairy infrastructure fund wlll be initially created with a corpus of Rs. 2000 crore.
Issuance of land cards have gained momentum.
A model of contract farming law will be prepared and shared with the States.
Indian Union Budget 2017 on Rural population
union budget 2017 Improving rural infrastructure
The government’s goals are to get 1 crore household out of poverty by 2019.
During 2017-18, five lakh ponds will be supported by MGNREGA.
More than Rs 3 lakh crore will be spent on rural India. MGNREGA to double the income of farmers.
Take measures to ensure the participation of women in MGNREGA up to 55%.
Space technology will be used extensively to ensure the proper functioning of MGNREGA.
The government proposes to finish 1 crore houses for those without houses.
Allocates Rs. 19,000 crore for Pradhan Mantri Gram Sadak Yojana in 2017-18.
The country is on track to achieve 100% rural electrification by March 2018.
The Swashh Bharat mission has made enormous progress; Sanitation increased from 42% in October 13 to 60% now.
Union Budget 2017 by Finance Minister Arun Jaitley on For the young
Implement a system for measuring annual learning outcomes and establish an innovation fund for secondary education.
The focus will be on 3,479 educational blocks.
Colleges will be identified based on accreditation.
The Skill India mission was launched to maximize the potential. Will set up 100 international centers across India across the country.
Courses on foreign languages will be presented.
Will take steps to create 5,000 PG seats per year.
For the poor and the poor
Rs. 500 crore allocated to Mahila Shakthi Kendras.
As part of a national program for pregnant women, Rs. 6000 will be transferred to each person.
A sum of Rs. 1,84,632 crore allocated to women and children.
Affordable housing will have infrastructure status.
Due to the excess liquidity, banks have begun to reduce lending rates for housing.
Elimination of tuberculosis by 2025 targeted.
Sub health centers, numbering 1.5 lakh, will be transformed into wellness health centers.
Two AIIMS will be installed in Jharkhand and Gujarat.
It will undertake a structural transformation of the regulatory framework for medical education.
The allowance for scheduled castes is Rs. 52,393 crore
Aadhaar smart cards will be issued to the elderly to monitor health.
Infrastructure and railways
A total allocation of Rs. 39,61,354 crore was made for the infrastructure.
The total allowance for the railways is Rs. 1.31,000 crore.
No service fees on tickets booked via IRCTC.
Raksha coach with a corpus of Rs. 1 lakh crore for five years (for passenger safety).
Unmanned crossings will be eliminated by 2020.
3,500 km of railway lines to be put into service this year, compared to 2,800 km last year.
The service “clean my coach service” set up by SMS is set up.
The installation of the trainer mitra will be presented to record any complaints related to the coach.
By 2019, all trains will have bio-toilets.
Five hundred stations will be made amicably different-abled.
Railways partner with logistics players for front-end and back-end solutions for certain products.
The railways will offer competitive ticket booking facility.
Rs. 64,000 crores allocated to highways.
High-speed Internet to be attributed to 1.50,000 gram panchayats.
New metro railway policy will be announced with new modes of financing.
Union Budget 2017 by Finance Minister Arun Jaitley on Energy Sector
A strategic policy for crude oil reserves will be put in place.
Rs. 1,26,000 crore received as investments based on power generation.
The commercial infrastructure export program will be launched in 2017-18.
The reforms of the FDI policy – more than 90% of FDI inflows are now automated.
PSE shares such as IRCTC will be publicly traded.
Draft law on the resolution of financial enterprises will be presented to this session of Parliament.
The Commission for the Promotion of Foreign Investment will be abolished.
Revised mechanism to ensure timely inclusion of CPSEs.
An emergency response team for the financial sector will be formed.
Pradhan Mantri Mudra Yojana loan target set at Rs 2.44 lakh crore for 2017-18.
Digital India – the BHIM application will trigger the revolution in mobile telephony. The government will introduce two schemes to promote BHIM App – bonus reference for users and cash back for traders.
The Negotiable Instruments Act could be amended.
DBT to LPG consumers, Chandigarh is kerosene-free, 84 government schemes are on the DBT platform.
Head of post as the central office for passport service.
Easy online booking system for the army and other members of the defense.
For serious offenses – including economic offenders fleeing India, the government will introduce legislative changes or introduce legislation to confiscate the assets of these people in the country.
Indian Union Budget 2017 by Finance Minister Arun Jaitley on Financial situation
The total expenditure is Rs. 21, 47,000 crore.
Expenditure related to the plan, excluding plan, must be eliminated; Emphasis will be placed on capital expenditures, which will be 25.4%.
Rs. 3,000 crore to the Ministry of Economic Affairs for the implementation of budget announcements.
Expenditures for science and technology are Rs. 37,435 crore.
The total resources transferred to the States and Territories of the Union are 4.11 lakh crore
The revenue deficit is 1.9%
The budget deficit for 2017-18 is 3.2% of GDP. Will remain committed to reach 3% next year.
Financing of political parties
The maximum amount of cash donations for a political party will be Rs. 2,000 from any source.
Political parties shall have the right to receive donations by check or digital means from donors.
An amendment is proposed to the RBI Act to permit the issuance of electoral bonds. A donor can buy these bonds from banks or post offices through checks or digital transactions. They can only be redeemed by registered political parties.
Indian Union Budget 2017-18 by Finance Minister Arun Jaitley Defense Sector
The defense sector gets an allowance of Rs. 2,74,114 crore.
India’s tax-to-GDP ratio is not favorable.
On 13.14 lakh companies registered, only 5.97 lakh companies filed returns for 2016-17.
The proportion of direct taxes on indirect taxes is not optimal.
Individuals with 1.95 crore showed an income between Rs 2.5 lakh to Rs.5 lakh.
Out of 76 lakh assessees individuels declaring more income than Rs. 5 lakh, 56 lakh are salaried.
Only 1.72 lakh people showed income of more than Rs. 50 lakh per year.
Between November 8 and December 30, deposits ranging from Rs. 2 lakh and Rs. 80 lakh were made in 1.09 crore accounts.
The net tax receipts for 2013-14 were Rs. 11.38 lakh crore.
Of 76 lakh assessees individuels declaring more income than Rs 5 lakh, 56 lakh are salaried.
1.95 crore individuals posted an income between Rs 2.5 lakh to Rs.5 lakh.
The rate of advance tax growth in Personal I-T is 34.8% in the last three quarters of this fiscal year.
Holding period for long-term capital gain reduced to two years
Proposal to have a carry-over of MAT for 15 years.
The tax on capital gains to be exempted for persons holding land whose land has been pooled for the creation of the capital of the State of Andhra Pradesh.
Under the corporate tax, in order to make MIPM companies more viable, there is a proposal to reduce the fee for small businesses with a turnover of up to Rs 50 crore to 25%. About 67 lakh companies fall into this category. Ninety-six percent of companies get this benefit.
The government proposes to reduce the basic tariff for LNG by 5% to 2.5%.
The Income Tax Act to be amended to ensure that no transaction above Rs 3 lakh is allowed in cash.
The limit for cash donations by charitable trusts is reduced to Rs 2000 by Rs 10,000.
The loss of net income in direct tax could be Rs. 20,000 crore.
Union Budget 2017 – 18 by Finance Minister Arun Jaitley Income tax
Tax rate existing for individuals between Rs. 2.5- Rs 5 lakh is reduced to 5% by 10%.
All other taxpayer categories in the subsequent brackets will receive a benefit of Rs 12,500.
Simple one page return for people with an annual income of Rs.5 lakh other than business income.
People who file I-T returns for the first time will not be subject to ministerial review.
Supplement of 10% on individual income above Rs. 50 lakh and up to Rs 1 crore to compensate Rs 15,000 crore loss due to cut in personal I-T rate. 15 on individual income above Rs. 1 crore to stay.
PM Modi words on twitter on Union Budget 2017-18
This is a Budget for the future- for farmers, underprivileged, transparency, urban rejuvenation, rural development, enterprise: PM
This Budget will help small businesses to become competitive in the global market: PM @narendramodi #BudgetForBetterIndia
The commitment to eliminate corruption and black money is reflected in the Budget: PM @narendramodi #BudgetForBetterIndia
The Housing sector stands to gain immensely from the Budget: PM @narendramodi #BudgetForBetterIndia
Special emphasis has been given on women empowerment in the Budget: PM @narendramodi #BudgetForBetterIndia
This Budget is yet again devoted to the well-being of the villages, farmers and the poor: PM @narendramodi #BudgetForBetterIndia
The aim of the Government is to double the income of farmers: PM @narendramodi #BudgetForBetterIndia
The merger of the Railway Budget with the general budget will give an impetus to the transport sector’s growth: PM #BudgetForBetterIndia
The FM has presented an ‘Uttam’ Budget, devoted to strengthening the hands of the poor: PM @narendramodi #BudgetForBetterIndia
Source : main article The Hindu