Highlights of the Union Budget for 2018-19 (Apr-Mar), presented by Finance Minister Arun Jaitley in Parliament today

Highlights of the Union Budget for 2018-19 (Apr-Mar), presented by Finance Minister Arun Jaitley in Parliament today |Infra Bazaar

Posted By:Infra Bazaar



Highlights of the Union Budget for 2018-19 (Apr-Mar), presented by Finance Minister Arun Jaitley in Parliament today: MACROECONOMY MATTERS * Govt has implemented fundamental structural reforms * India stands out as the fastest growing economy in world * Promised to reduce poverty, build strong India * Direct transfer mechanism is a global success story * Will focus on health, infrastructure, senior citizens * Focus on 'ease of living' for common man * To move ahead on ease-of-doing business * This Budget to consolidate gains of last 4 years' budgets * Demonetisation has reduced cash in circulation * Recapitalised banks have better capacity to support growth * Indirect tax system made simpler with GST * FDI increased due to govt actions * Manufacturing sector back on growth path * There's a premium on honesty because of govt's reforms * Firmly on course to achieve 8% plus growth * India to become fifth largest economy very soon * India a $2.5-trln economy now * Achieved average 7.5% g

MACROECONOMY MATTERS
* Govt has implemented fundamental structural reforms
* India stands out as the fastest growing economy in world
* Promised to reduce poverty, build strong India
* Direct transfer mechanism is a global success story
* Will focus on health, infrastructure, senior citizens
* Focus on 'ease of living' for common man
* To move ahead on ease-of-doing-business
* This Budget to consolidate gains of last 4 years' budgets
* Demonetisation has reduced cash in circulation
* Recapitalised banks have better capacity to support growth
* Indirect tax system made simpler with GST
* FDI increased due to govt actions
* Manufacturing sector back on growth path
* There's a premium on honesty because of govt's reforms
* Firmly on course to achieve 8% plus growth
* India to become fifth largest economy very soon
* India a $2.5-trln economy now
* Achieved average 7.5% growth in first 3 years of govt

AGRICULTURE
* FY19 Budget aims to strengthen agriculture, rural economy
* Seek paradigm shift to double farmers' income by 2022
* Govt committed to welfare of farmers
* Govt to create mechanism for post-harvest facilities
* MSP hikes not enough, farmers must be able to get benefits
* Next Kharif crop MSP to be at least 1.5 times of cost
* Emphasis on generating gainful farm, non-farm jobs
* Focus on low-cost farming, higher selling price
* Institutional system for farm goods price, demand forecast
* NITI Aayog to make robust system for fair price to farmers
* Export of farm commodities to be liberalised
* Agri export potential $100 bln
* To launch Operation Green in line with Operation Flood
* Allocate 5 bln rupees for Operation Green
* Allocation for food processing sector 14 bln rupees FY19
* Allocate 2 bln rupees for medicinal, aromatic crops
* To encourage women self-help groups for organic farming
* Cluster-based models to be developed for horticulture crops
* e-NAM to be exempt from APMC regulations
* To develop, upgrade 22,000 rural habitats to agricultural markets
* To allocate 20 bln rupees for farm development fund
* Favourable tax treatment for farm mfg organisations
* Agri credit target at 11 trillion rupees for FY19
* Kisan credit card benefit also to animal husbandry, fishing
* To launch bamboo mission for 12.9 bln rupees
* 470 APMCs connected to e-NAM, rest to be connected by Mar
* To set up 42 mega food parks for farm exports

FY18 REVISED
* Hope to grow 7.2-7.5% in H2 FY18
* Exports expected to grow 15% in FY18

POLICY STEPS
* 100 bln rupees for animal husbandry, fisheries develop fund
* To set up 2 new funds of total 100 bln rupees for fishery
* Online loan facility for MSMEs to be revamped
* To address bad loan problems of MSMEs
* 37.94 bln rupees for MSME credit support
* Job creation core of policy planning
* To take steps for improving start-up funding environment
* PSUs to be part of e-trade receivables platform
* To link e-trade receivables platform with GSTN
* To review refinancing policies under MUDRA plan
* To give 40 mln power connections under Saubhagya Yojana
* 3 trillion rupees lending target for MUDRA plan FY19
* Smart City scheme outlay 2.04 trillion rupees

SOCIAL SECTOR
* To set up dedicated affordable housing fund under NHB
* Aim 5.1 mln rural houses under affordable housing plan
* Aim to give houses to all poor by 2022
* Aim to build 20 mln more toilets under Swachh Bharat
* More than 60 mln toilets built under Swachh Bharat plan
* To give 80 mln LPG connections under Ujjwala scheme
* To spend 1 trillion rupees on education infra over 4 years
* To subsidise removal of crop residue to tackle pollution
* To set up Ekalavya schools for scheduled tribes
* To treat education holistically pre-nursery to class 12
* To move from Blackboard to digital board
* Allocate 99.75 bln rupees for social security plan FY19
* Allocation to Natl Livelihood Mission 57.50 bln rupees
* Allocate 14.3 trillion rupees for rural infra FY19
* Allocate 26 bln rupees under groundwater irrigation plan
* Health protection scheme to cover 100 mln, poor families
* Allocate 12 bln rupees for health wellness centres
* To launch PM research fellow plan for 1,000 BTech students
* To set up 2 new schools of planning & architecture
* 600 mln Jan Dhan accts to get micro insurance benefit
* 24 new medical colleges to be set up via hospital upgrade
* Aim 1 medical college for every 3 Parliament constituency
* 6-bln-rupee nutritional support for Tuberculosis patients
* Govt progressing towards universal health coverage
* Health scheme to have 500,000 rupees/family/year benefit
* Allocate 566.2 bln rupees for Scheduled Castes welfare
* Cover all poor family in PM insurance plan in mission mode
* 187 projects sanctioned under Ganga cleaning programme
* Allocate 391.35 bln rupees for welfare of Scheduled Tribes
* Govt women employees to contribute 8% to EPF in first 3 yrs

MISCELLANEOUS
* Special scheme to fight pollution in Delhi-NCR
* To develop 10 places as iconic tourism destinations
* To construct tunnel under Sela Pass

INDUSTRY, INFRASTRUCTURE
* To allocate 71.5 bln rupees to textiles sector FY19



#Union Budget for 2018-19 #Finance Minister Arun Jaitley ,MACROECONOMY MATTERS,AGRICULTURE,FY18 REVISED #POLICY STEPS #SOCIAL SECTOR #MISCELLANEOUS #INDUSTRY #INFRASTRUCTURE