Budget 2017-18 & Yojana (March 2017) - Analysis by Shyam S ......UNION BUDGET 2017-18 The agenda for...
Transcript of Budget 2017-18 & Yojana (March 2017) - Analysis by Shyam S ......UNION BUDGET 2017-18 The agenda for...
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BUDGET 2017-18
&
YOJANA (MARCH 2017)
- ANALYSIS
BY SHYAM S KAGGOD
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BACKGROUND TO THE BUDGET
Internal
External
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THE BUDGET SHOULD PROVIDE THE ANSWERS TO
THESE QUESTIONS
How the budget will impact the economy?
Has the budget been successful in reviving investments?
What has the budget done to overcome the impact of
demonetization?
List the steps taken by the budget to promote
employment and productivity
Budget is low on rhetoric and high on substance-
evaluate
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UNION BUDGET FY18 – MAJOR CHANGES
Merger of Railway Budget with Union
Budget
Phasing out of plan and non-plan
expenditure
Budget announcement preponed by a
month
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UNION BUDGET 2017-18
The agenda for budget 2017-18 is TEC: Transform, Energize
and Clean India
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RAILWAY BUDGET
Some facts about railway budget
Reasons for the merger
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RAILWAY BUDGET
Passenger Safety
Capital and Development Works
Cleanliness
Finance and Accounting Reforms
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SERVICE CHARGE WAIVER AND LISTING OF IRCTC
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FARMING SECTOR
Agriculture credit
Bringing PACS under CBS
Crop Insurance
Soil Health Cards
Irrigation
e-NAM coverage
Model law on Contract Farming
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BANKING SECTOR
Recapitalization of ₹ 10000 Cr
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DIGITAL ECONOMY
Two more schemes to promote digital transactions
launched
To launch Aadhaar Pay
PoS push
Payments Regulatory Board proposed
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DIGITAL ECONOMY – TWO MORE SCHEMES
Will have an outlay of ₹495 crore for a period of six months
This is to ensure that the culture of digital payments permeates down
to the grassroots
Under the Referral bonus scheme both the existing user who refers
BHIM and the new user who adopts BHIM would get a cash bonus
credited directly to their account
Under the Cashback scheme the merchants will get a cashback on
every transaction using BHIM
Both schemes are to be administered by MEITY and implemented by
NPCI
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DIGITAL ECONOMY
BharatNet coverage to be expanded
DigiGaon initiative to provide tele-medicine, education &
skills through digital economy
Digital Inclusion Fund
New schemes to promote BHIM digital payment
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EDUCATION
System to measure annual learning outcomes
Innovation fund for Secondary Education
National Testing Agency proposed
SWAYAM Platform
Two AIIMS to be set up – Jharkhand and Gujarat
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GOVERNANCE
Political Donations
Cash Transaction limit
EoDB
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HEALTHCARE SECTOR
Focus on quality and quantity
Action plan to eliminate
Kala azar and Filariasis by 2017
Leprosy by 2018
Measles by 2020
Tuberculosis by 2025
Mahila Shakti Kendras to be set up
Taxes and duties to be increased on tobacco, tobacco
products, cigarettes, gutkha, bidis etc
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INDUSTRIES
MSME
Corporate taxes on small firms reduced
Presumptive taxation on small businesses reduced to 6%
Increased in the lending target of MUDRA Scheme
Government to amend and simplify labour laws
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OIL AND GAS SECTOR
Integration of public sector oil companies
Strategic Crude oil reserves to be set up at 2 more
locations
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SKILL DEVELOPMENT & JOB CREATION
SANKALP Introduced
Skill India Mission will be extended
India International Skill centers will be set up
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INFRASTRUCTURE
Airports in Tier 2 cities to be developed on PPP mode
A New Metro Rail Policy to be announced
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NON-TAX PROPOSALS IN FINANCE BILL 2017
In case of Tribunals
Payments Regulatory Board
Political Funding
Aadhaar made mandatory
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NON-TAX PROPOSALS IN FINANCE BILL 2017
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DEFICIT
Fiscal Deficit
Revenue Deficit
N K Singh Committee Report
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OTHER POINTS
Taxes
Subsidies
Disinvestment
Worries/Concerns
Last Word
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