We will be covering The Union Budget 2018 from Examination's Point of View to help you remember all the important points in a simple and easy manner.
• As per the FM in the Union Budget, India is expected to become the fifth largest economy very soon.
• The Growth rate is expected between 7.2-7.5% in the second half of 2017-18.
• Exports are expected to grow 15% in 2018.
• As per the FM, India is a Rs2.5 trillion economy.
• MSP to increase at least 1.5 times that of production cost.
• Minimum Support Price (MSP) of all crops shall increase to at least 1.5 times that of the production cost.
• The government will set up a fund of Rs 2,000 crore for developing agricultural markets.
• Our focus is on productive and gainful on-farm and non-farm employment for farmers and landless families, says Jaitley.
• MSP for Kharif cost will be 1.5 times the cost of production.
• As per the FM, APMCs will be linked with ENAM.
• The government will develop 22,000 Gramin agricultural markets.
• The cluster-model approach will be adopted for agricultural production.
• Allocation in food production sector doubled to Rs 1400 crore.
• Minimum Support Price shall be increased by 1.5 times. Operation Green will be launched for agriculture and the Minister allocates Rs500 crore for this.
• Agricultural corpus worth Rs 2000 crore will be set up. 470 APMCs have been connected to eNAM network, the rest to be connected by March 2018.
• A fund for the fishery, aquaculture development and animal husbandry will be set up with a total corpus to be Rs 10,000 crore. We will also allocate Rs 1290 crore for a bamboo mission, as it is green gold.
• In all, we are providing Rs 10 lakh crore to Rs 11 lakh crore as credit for agricultural activities.
• Jaitley proposes to increase the target of providing free LPG connections to 8 crore to poor women.
• Ujjwala Yojana, the free LPG connection scheme expanded to eight crore households.
• Six crore toilets have been built already, and in the next year, two crore additional toilets will be constructed.
• The government will provide 4 crore electricity connections to the poor under Saubhagya Yojana.
• Kisan credit card to be extended to fisheries,animal husbandry farmers.
• The government will establish a dedicated affordable housing fund.
• Loans to self-help groups will increase to Rs75,000 crore.
• Govt. allocated Rs5,750 crore to National Livelihood Mission and Rs2,600 crore to the groundwater irrigation scheme.
• Ayushman Bharat program discussed.
• Eklavya schools for tribal children.
• 24 new government medical colleges.
• Government is implementing a comprehensive social security scheme.
• Govt. will initiate an integrated B-Ed programme for teachers.
• Government proposes to launch the Revitalising of Infrastructure and Systems of Education (RISE) by next year.
• Govt. proposed to set up two new full-fledged schools of planning and architecture.
• 18 new schools of planning and architecture will be set up in the IITs and NITs.
• Rs. 1 lakh crore over 4 years for initiative for Infrastructure Devt. in education.
• 2 major initiatives as part of Ayushman Bharat program.
• Eklavya schools to be open for tribal children.
• National health protection scheme to cover 10 cr poor families. Health cover of up to 5 lakh per family per year for poor & vulnerable. National health protection scheme to benefit 50 crore people.
• 24 new govt medical college & hospitals.
• Rs. 600 crore for nutritional support to all TB patients.
• Rs. 1200 crore for health and wellness centres.
• Loans to women self-help groups of women to be increased to 75,000 cr by March 19.
• Govt. is launching a new national health protection scheme – Rashtriya Samaj Beema Yojana. This will have 50 crore beneficiaries and 10 crore families will get 5 lakh per year for their families to cover secondary and tertiary hospital expenses. This is the world's largest government-funded healthcare program.
• A Rs 600 crore corpus is being set up to help Tuberculosis patients. This will build a new India in 2022 and enhance productivity and will also generate lakhs of jobs for women.
• PM Jeevan Beema Yojana benefitted more than 2 crore families.
• Jan Dhan Yojana will be extended to all 60 crore bank accounts.
• The government increased allocation for SC-ST earmarked programmes: Rs 56,000 crore for SCs and Rs 39,000 crore for STs.
• By 2022, every block with more than 50% ST population and at least 20,000 tribal people will have'Ekalavya' school at par with Navodaya Vidyalas.
• The government will announce measures to address non-performing assets of MSMEs.
• As per the FM, Rs. 3 lakh crore for lending under is being allocated in FY 19 for PM's MUDRA Yojana.
• Smart city Mission and AMRUT discussed.
• Smart city command control centre discussed.
• Govt to contribute 12% of wages of new employees to EPF for 3 yrs.
• Rs. 7148 crore allocation for the textile sector.
• Govt. will launch a scheme for Galvanising Organic Bio-Agro Resources Dhan (GOBARDHAN).
• Under the Smart City mission, 99 cities selected with the outlay of Rs. 2.04 lakh crores.
• EPF contribution has been reduced to 8% for the first 3 years of employment and 12% government contribution to EPF in sectors employing a large number of people, however, there will be no changes in employer contribution.
• 10 tourist cities to be developed into iconic tourist destinations.
• 600 railway stations to be redeveloped.
• Over 3600 km railway track renovation targeted in the current year.
• Scheme for revitalizing school infrastructure, with an allocation of 1 lakh crore rupees over four years. Called RISE - Revitalizing Infrastructure in School Education.
• The Bharatmala project has been approved and we are confident of completing 9000 km of highway construction.
• In Railways, 18,000 kms of doubling of tracks would eliminate capacity constraints.
• We are moving towards optimum electrification of railway. Over 3,600 km of track renewal is being targeted in 2018-19.
• 150 km additional suburban railway network at the cost of Rs. 40,000 cr.
• Regional air connectivity scheme shall connect 56 unserved airports.
• Airport capacity to be hiked to handle 1 billion trips per year.
• Training for 50 lakh youth by 2020.
• Customs duty increased on mobile phones from 15% to 20%.
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• As per the FM in the Union Budget, India is expected to become the fifth largest economy very soon.
• The Growth rate is expected between 7.2-7.5% in the second half of 2017-18.
• Exports are expected to grow 15% in 2018.
• As per the FM, India is a Rs2.5 trillion economy.
• MSP to increase at least 1.5 times that of production cost.
• Minimum Support Price (MSP) of all crops shall increase to at least 1.5 times that of the production cost.
• The government will set up a fund of Rs 2,000 crore for developing agricultural markets.
• Our focus is on productive and gainful on-farm and non-farm employment for farmers and landless families, says Jaitley.
• MSP for Kharif cost will be 1.5 times the cost of production.
• As per the FM, APMCs will be linked with ENAM.
• The government will develop 22,000 Gramin agricultural markets.
• The cluster-model approach will be adopted for agricultural production.
• Allocation in food production sector doubled to Rs 1400 crore.
• Minimum Support Price shall be increased by 1.5 times. Operation Green will be launched for agriculture and the Minister allocates Rs500 crore for this.
• Agricultural corpus worth Rs 2000 crore will be set up. 470 APMCs have been connected to eNAM network, the rest to be connected by March 2018.
• A fund for the fishery, aquaculture development and animal husbandry will be set up with a total corpus to be Rs 10,000 crore. We will also allocate Rs 1290 crore for a bamboo mission, as it is green gold.
• In all, we are providing Rs 10 lakh crore to Rs 11 lakh crore as credit for agricultural activities.
• Jaitley proposes to increase the target of providing free LPG connections to 8 crore to poor women.
• Ujjwala Yojana, the free LPG connection scheme expanded to eight crore households.
• Six crore toilets have been built already, and in the next year, two crore additional toilets will be constructed.
• The government will provide 4 crore electricity connections to the poor under Saubhagya Yojana.
• Kisan credit card to be extended to fisheries,animal husbandry farmers.
• The government will establish a dedicated affordable housing fund.
• Loans to self-help groups will increase to Rs75,000 crore.
• Govt. allocated Rs5,750 crore to National Livelihood Mission and Rs2,600 crore to the groundwater irrigation scheme.
• Ayushman Bharat program discussed.
• Eklavya schools for tribal children.
• 24 new government medical colleges.
• Government is implementing a comprehensive social security scheme.
• Govt. will initiate an integrated B-Ed programme for teachers.
• Government proposes to launch the Revitalising of Infrastructure and Systems of Education (RISE) by next year.
• Govt. proposed to set up two new full-fledged schools of planning and architecture.
• 18 new schools of planning and architecture will be set up in the IITs and NITs.
• Rs. 1 lakh crore over 4 years for initiative for Infrastructure Devt. in education.
• 2 major initiatives as part of Ayushman Bharat program.
• Eklavya schools to be open for tribal children.
• National health protection scheme to cover 10 cr poor families. Health cover of up to 5 lakh per family per year for poor & vulnerable. National health protection scheme to benefit 50 crore people.
• 24 new govt medical college & hospitals.
• Rs. 600 crore for nutritional support to all TB patients.
• Rs. 1200 crore for health and wellness centres.
• Loans to women self-help groups of women to be increased to 75,000 cr by March 19.
• Govt. is launching a new national health protection scheme – Rashtriya Samaj Beema Yojana. This will have 50 crore beneficiaries and 10 crore families will get 5 lakh per year for their families to cover secondary and tertiary hospital expenses. This is the world's largest government-funded healthcare program.
• A Rs 600 crore corpus is being set up to help Tuberculosis patients. This will build a new India in 2022 and enhance productivity and will also generate lakhs of jobs for women.
• PM Jeevan Beema Yojana benefitted more than 2 crore families.
• Jan Dhan Yojana will be extended to all 60 crore bank accounts.
• The government increased allocation for SC-ST earmarked programmes: Rs 56,000 crore for SCs and Rs 39,000 crore for STs.
• By 2022, every block with more than 50% ST population and at least 20,000 tribal people will have'Ekalavya' school at par with Navodaya Vidyalas.
• The government will announce measures to address non-performing assets of MSMEs.
• As per the FM, Rs. 3 lakh crore for lending under is being allocated in FY 19 for PM's MUDRA Yojana.
• Smart city Mission and AMRUT discussed.
• Smart city command control centre discussed.
• Govt to contribute 12% of wages of new employees to EPF for 3 yrs.
• Rs. 7148 crore allocation for the textile sector.
• Govt. will launch a scheme for Galvanising Organic Bio-Agro Resources Dhan (GOBARDHAN).
• Under the Smart City mission, 99 cities selected with the outlay of Rs. 2.04 lakh crores.
• EPF contribution has been reduced to 8% for the first 3 years of employment and 12% government contribution to EPF in sectors employing a large number of people, however, there will be no changes in employer contribution.
• 10 tourist cities to be developed into iconic tourist destinations.
• 600 railway stations to be redeveloped.
• Over 3600 km railway track renovation targeted in the current year.
• Scheme for revitalizing school infrastructure, with an allocation of 1 lakh crore rupees over four years. Called RISE - Revitalizing Infrastructure in School Education.
• The Bharatmala project has been approved and we are confident of completing 9000 km of highway construction.
• In Railways, 18,000 kms of doubling of tracks would eliminate capacity constraints.
• We are moving towards optimum electrification of railway. Over 3,600 km of track renewal is being targeted in 2018-19.
• 150 km additional suburban railway network at the cost of Rs. 40,000 cr.
• Regional air connectivity scheme shall connect 56 unserved airports.
• Airport capacity to be hiked to handle 1 billion trips per year.
• Training for 50 lakh youth by 2020.
• Customs duty increased on mobile phones from 15% to 20%.
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