Vikas Ka Budget 2016 Live Status & Highlights Key Points
Vikas Ka Budget 2016
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Some highlights of Vikas Budget:
· Agriculture and farmer welfare
· Rural sector
· Social; sector including health care
· Skills and job creation
· Infrastructure and investment
· Financial sector reforms
· Governance and ease of doing business
· Fiscal discipline
· Tax reforms
'Vikas Ka Budget':
· Fiscal deficit for financial year 2016-17 targeted at 3.5 per cent.
· A comprehensive plan to be implemented in the next 15-20 years for exploiting Nuclear energy
· Government promises to pay EPF contribution of 8.33% for all new employees for first three years.
· Laid more focus on the rural and social sectors, infrastructure and recapitalization of banks.
· Jaitley proposes Unified agriculture market e-platform will be dedicated to the nation on the birthday of Dr. B.R. Ambedkar.
· Farm credit target pegged at Rs.9 lakh Crores
· Banks' recapitalization in next fiscal
· Jaitley proposes dedicated irrigation fund worth Rs.20, 000 Crores
· 100 per cent village electrification to be achieved by 1st May, 2018
· Rs.5, 500 Crores for crop insurance scheme
· Rs.38, 500 Crores to be disbursed under MGNREGA next fiscal
· 300 rurban clusters to be set up under Shyama Prasad Mukherjee Rurban Mission
· An Objective to expertise 1 crore youth in the next 3 years under the PM Kaushal Vikas Yojana
· Government of India has to provide health insurance of up to Rs.1 lakh per family.
· Rs.2.87 lakh crore aids to rural and urban local bodies.
· Government promise to stands firmly behind public sector banks
· Quantum jump of 228 per cent in grants to gram panchayats and urban local bodies in accordance with FFC recommendations
· Assures to provide, 65 eligible habitats to be connected via 2.23 lakh kms of road
· Current construction pace is 100 kms per day.
· RBI Act being amended to provide statutory basis for monetary policy framework
· Also provides, Necessary interim provisions made for implementation of 7th Pay Commission recommendations.
· More number of benches of Security Appellate Tribunal to be introduced by amending SEBI Act to reduce pendency.
· A bill on targeted delivery of financial services using Aadhar to be introduced
· Rs.19, 000 crore allocated for PM Gram Sadak Yojana.
· Appreciation for 75 lakh Middle class and lower middle class for willingly giving up LPG subsidy
· Massive mission to be launched to provide LPG connections to BPL households
· National Skill Development Mission has imparted training to 76 lakh youth.
· 1500 Multi skill training institutes to be set up
· 300 generic drug stores to be opened under PM Jan Aushadi Yojana
· 100 per cent FDI through FAPB route in marketing of food products produced and manufactured in India.
· Amount to be sanctioned under PM Mudra Yojana has reached Rs.1 lakh crore to cover 2.5 crore borrowers by February, 2016.
· Number of measures to be undertaken to deepen corporate bond market
· New Financial Data Management Centre to facilitate integrated data analysis.
· Digital literacy scheme for rural India
· Plan - non-plan classification of expenditure to be done away with from FY 2017-18.
· Target of disbursement under MUDRA increased to Rs.1, 80,000 crore.
· Dept. of Disinvestment to be renamed as Dept. of Investment and Public Asset Management