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Budget 2017 india highlights


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Budget 2017 india highlights. Read some prominent highlights from the 2017 Union Budget via this ppt.

Published in: Economy & Finance
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Budget 2017 india highlights

  1. 1. Latest Insights on Union Budget 2017-18
  2. 2. The Union Budget 2017-2018 was presented by the Finance Minister, Arun Jaitley on February 1, 2017 (Wednesday) in Lok Sabha. Under the ruling of Narendra Modi’s government, this is the 4th budget passed by them. The finance Minister presented a joint budget which includes the Railway budget in it too. If you want to know the latest highlights of the budget 2017, then read as they are mentioned below:
  3. 3. Agriculture sector: • With 60 days interest waiver, a sum of 10 lakh crore INR is allocated to the farmers all over India. • The NABARD fund will be raised to 40,000 crore INR. • The irrigation corpus is increased from 20,000 crore INR to 40,000 crore INR. • Now, the sowing farmers will be safe from the natural calamities.
  4. 4. Agriculture sector: • The Dairy processing infrastructure fund will be created with a corpus of 2000 crore INR initially. • Mini labs in Krishi Vigyan Kendras for soil testing will be set up by the government. • Soon, the model law on contract farming will be created and shared with all the States.
  5. 5. Demonetization: • It will have a long lasting and great impact on the Indian economy and its citizens. • It is expected that demonetization will have a transient impact on our economy. • Its effects will not be spilled over upon the next fiscal. • This beneficial step will lead to higher GDP growth.
  6. 6. Railways & Infrastructure: • A total allocation of 1,31,000 crore INR has been made for Railways. • And the total allocation of 39,61,354 crore INR has been made for Infrastructure. • All the trains will have bio-toilets by year 2019. • There will be no service charge on the tickets booked through IRCTC site or application. • Five-hundred more stations will be made friendly for differently-abled people. • “Clean my coach service”, a SMS based service will be put in place.
  7. 7. Railways & Infrastructure: • There will be a new competitive booking facility for railways. • A new Metro rail policy will be announced later in the year with new modes of financing. • A total allocation of 64,000 crore INR has been made for highways. • To register all the coach related complaints a Coach mitra facility will be introduced. • 1,50,000 gram panchayats will be allocated with high speed internet.
  8. 8. Defence Sector • The sector has been allocated with 2.74,000 crore INR.
  9. 9. Financial Sector • FDI policy reformed: more than 90%of FDI inflows are automated now. • Soon, Foreign Investment Promotion Board will be abolished. • The target has been fixed at 2.44 lakh crore INR for the year 2017-18 for Pradhan Mantri Mudra Yojana.
  10. 10. Financial Sector • A new team will be formed for Computer emergency response. • There will be easy online booking option for Army and all other defence personnel. • Government will launch two new schemes to promote Digital India-BHIM APP. There will be referral bonus for the users and traders are likely to receive the cash back.
  11. 11. Tax Proposals • The government proposed to reduce the basic customs duty for LNG from 5% to 2.5%. • The cash donation limit reduced from 10,000 INR to 2,000 INR. • The Income Tax Act will be amended to make sure that no transaction above 3 lakh is permitted in cash.
  12. 12. Thanks