Arun Jaitley Presents Union Budget 2016-17: #Check Out Major Highlights
New Delhi: Finance Minister Arun Jaitley has presented the much awaited Union Budget 2016-17. There are several indications to suggest that the Union Budget for 2016-17 is primarily focused on stimulating growth.
Jaitley has announced the nine pillars of his Budget — 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.
Here are the major highlights of the Union Budget for 2016. Let’s have a look!
- ‘Rs 38,500 crore for MGNREGA in 2016-17’
- In the power sector, the govt is drawing up a plan for 15-20 years to augment investment in nuclear power. Rs. 3,000 crore per annum for this.
- 160 airports and airstrips which can be revived.
- Motor Vehicles Act to be amended to enable entrepreneurship in the road transport sector.
- Total outlay for infrastructure is at Rs. 2.31 lakh crore.
- Rs. 97,000 crore for all roads. Total outlay on roads and rails will be Rs. 2.80 lakh crore. 10,000 km of national highways in 2016-17 and 50,000 km state highways to be converted to NH roads.
- More than 70,000 road projects were languishing at the beginning of the year. Nearly 85% of these projects have been put back on track.
- Rs. 1,700 crore 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. Rs. 1,000 crore for higher education financing.
- Hub to support SC/ST entrepreneurs.
- National dialysis service programme under PPP model. LPG connection for women members of rural homes.
- Government to provide health insurance of upto Rs. 1 lakh per family; top up of Rs. 35,000 for people above 60 years. 3,000 stores to be opened for generic drugs.
Total rural sector allocation Rs. 87,769 crore.
Two schemes for digital literacy for rural India to cover 6 crore households in the next three years.
Rs. 9,000 crore for Swachch Bharat Abhiyan.
5,542 villages have been electrified, more than the last three years combined.
Rs. 38,500 crore for MNREGA. Highest ever for the rural employment scheme.
Rs. 2.87 lakh crore for gram panchayats as per recommendation of 14th finance commission.
Four schemes for animal welfare.
Agricultural credit target of Rs. 9 lakh crore. Govt to allocate Rs 5,500 crore for crop insurance scheme.
Unified e-platform for farmers to be inaugurated on Ambedkar’s birthday.
Paramparagat Krishi Vikas Yojana to bring 5 lakh acres under organic farming.
28.5 lakh hectares to be brought under irrigation.
Govt will reorganise agricultural policy to double farmer income in five years.
New scheme for BPL families for gas connections. Staturtory backing for Aadhaar platform to ensure delivery of benefits.