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:
• With 60 days interest waiver, a sum of 10
lakh crore INR is allocated to the farmers all
• The NABARD fund will be raised to 40,000
• 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.
• The Dairy processing infrastructure fund will
be created with a corpus of 2000 crore INR
• 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.
• 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
• This beneficial step will lead to higher GDP
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
• “Clean my coach service”, a SMS based service will be
put in place.
Railways & Infrastructure:
• There will be a new competitive booking facility
• 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.
• The sector has been allocated with 2.74,000
• 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
• A new team will be formed for Computer
• 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.
• 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.