The Finance Minister Arun Jaitley on February 1 finally presented the Union Budget 2017 in Parliament as there was doubt about it due to the demise of the MP E. Ahamed. This time for the time along with the Union Budget, Railway Budget is also presented in the Parliament.
Here are the analysis of Budget 200
1. In Agricultural sector, the main motto of the Budget is to expand more on rural areas, infrastructure and poverty alleviation with fiscal prudence.
2. The agriculture sector is likely to increase at 4.6percent, as the target of agriculture expenditure set at Rs 10 lakh crore.
3. Two new All India Institute of Medical Sciences(AIIMS) to be set up in Jharkhand and Gujarat.
4. Funds to colleges will be given according to the rankings.
5. Till 2025 health condition of India will be improved.
6. Safe drinking water to cover 28,000 arsenic and Fluoride-affected habitations in the next four years.
7. 1 crore house to be the complete allocation in 2018.
8. Interest for the home loan to brought down.
9. Rs. 1.31 lakh crore for Railways for developmental work.
10. By 2019, in all trains, bio-toilets will be fitted.
11. Fiscal deficit for 2017-18 pegged at 3.2 % of GDP.
12. Defense outgo excluding pension at Rs 2.74 lakh crore.
13. Developing firms with volume up to Rs 50 crore to pay 25% tax now, rather than of 30%.
14. Arun Jaitley cut down income tax rate from 10% to 5% for tax slab of Rs 250,000 to Rs 500,000.
15. The government will create 'JAM Yojana' to manage the transaction traffic.
16. Aadhar card transactions will be possible for those who do not have credit/debit cards.
17. More than 1crore of the marginalized population will be out of 'garibi Rekha'.
18. Fund of Rs. 17,500 crores will be given to deen dayal antyodaya yojana.
19.Escaped criminals' property will be taken in custody of the government.
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