The Budget broadly focused on 10 themes viz. farming sector, rural population, the youth, the poor to name a few.
The 2017 Union Budget, presented by Finance Minister Arun Jaitley on Wednesday, was broadly focused on 10 themes — the farming sector, the rural population, the youth, the poor and underprivileged health care, infrastructure, the financial sector for stronger institutions, speedy accountability, public services, prudent fiscal management and tax administration for the honest.
Following are the highlights of Mr. Jaitley's Budget speech:
Demonetization is expected to have a transient impact on the economy.
It will have a great impact on the economy and lives of people.
Demonetization is a bold and decisive measure that will lead to higher GDP growth.
The effects of demonetization will not spill over to the next fiscal.
Sowing farmers should feel secure against natural calamities.
A sum of Rs. 10 lakh crore is allocated as credit 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 testing.
A dedicated micro irrigation fund will be set up for NABARD with Rs 5,000 crore initial corpus.
Irrigation corpus increased from Rs 20,000 crore to Rs 40,000 crore.
Dairy processing infrastructure fund wlll be initially created with a corpus of Rs. 2000 crore.
Issuance of soil cards has gained momentum.
A model law on contract farming will be prepared and shared with the States.
Will introduce a system of measuring annual learning outcomes and come out with an innovation fund for secondary education.
Focus will be on 3,479 educationally-backward blocks.
Colleges will be identified based on accreditation.
Skill India mission was launched to maximise potential. Will set up 100 India International centres across the country.