After 92 years, there is one new change is adding in this year i.e. rail budget is not announced separately by the government.
Now, I go to say about what shifts in this year and previous year’s budget?
First I talk about rail budget.
The first change in rail budget i.e. in FY 2017-18, the Rail budget and union budget mixed up.
What Provision made for Railways in Budget 2016-17?
There is provision made for an increase in quota for senior citizens and woman in railway coaches.
100 stations were updating with Wi-Fi in this year, and 400 will update in next year.
The major station was brought CCTV surveillance.
Din Dayal coach for unreserved passengers updated by potable water and lots of mobile charger points.
IRCTC manage the catering service. They provided local cuisine to the available passengers
They also provide a children’s menu, baby food to the mother who is traveling by railways.
They were also trying to bring GPS system in each coach for to know about next station.
They introduced new double-decker train for the business person.
As Compare Budget 2016-17 Provision made for Railways in Budget 2017-18?
In FY 2017-18 there will focus on safety to the railways.
In FY 20170-18, Under the SWATCH BHARAT mission, the FM Arun Jetly says that they were a provision make that bio-toilets fit in every coach.
500 stations will be updated in the interest of disabled people with lifts and escalators.
There is no provision in that about 400 stations updated with wife in this year.
In 2017-18, the government will be awarded 25 railway stations.
The government will introduce COACH MITRA FACILITY to the passengers to compliant.
The government will not take service charge on booking by IRCTC.
The government increase rail facility for to pilgrimage and tourism.
Allocation to the Agriculture in Budget 2016-17?
In 2016-17, the government allocated 35984 crore to the agriculture and farmer welfare.
The government provided irrigation to the 28.5 hectares.
The government made provision that 5 lakh acres use for organic farming.
NABARD gave Rs. 22000 fund to the farmer for irrigation facility.
Allotment to the Agriculture in Budget 2017-18?
On the other hand, in 2017-18, the government will fund for micro irrigation to the farmers.
The government increase in a mini lab for soil testing.
The government will provide 10,00,000 to the farmer under KRUSHI VIMA YOJANA scheme.
The government also get back the interest of 60 days to the farmer’s loan.
The government provides Rs.2000 crore funding to the dairy industry.
Effect of Budget on rural population in 2016-17
As per 14th finance commission, the government allocated 2.87 lakh crore Rs. in the interest of Gram Panchayat & Municipals.
Under DIN DAYAL ANTODAYA MISSION, every area which is affected by drought and rural distress are included in an intensive block.
The government introduced new scheme t the villages i.e. RASHTRIYA GRAM SWARAJ ABHIYAAN.
Impact of Budget on rural population in 2017-18?
The government will include 55% woman in MANREGA scheme.
The government will increase road up to 133 Km. in a GRAM SADAK YOJANA.
Allocation to the Infrastructure in Budget 2016-17.
The government permitted to the shop keepers for to remain open whole week.
They provided Rs. 221246 for infrastructure development.
They developed green filed ports at east and west see-shore.
They allowed partnership firm to the small airport venture.
MAT applied to the start-up firm to qualify fully tax-free.
Apportionment to the Infrastructure in Budget 2017-18
The government will allocate 3961354 crore to develop infrastructure.
To increase road facility the government provide 64,900 Cores.
The government also provide high-speed broadband to the 1.5 lakh Gram Panchayat.
The government will allocate Rs. 398135 crore to develop infrastructure in a home.
What Provision made for Youth in Budget 2016-17?
The government allocated 1804 crore for skill development & also set up new 1500 multi-skill training institute.
The NATIONAL BOARD FOR SKILL DEVELOPMENT CERTIFICATION made the partnership between industry and academia for to improve youth’s skill.
They also tried to improve entrepreneurship to youth by Entrepreneurship education and training.
As Compare Provision made for Youth in Budget 2017-18?
The government introduces SANKALP YOJANA for youth skill development.
They allocate Rs. 1.934 crore to the sports player.
POOR PEOPLE & HEALTH RELATED
Impact of Budget on Poor Population in 2016-17
The government provided Rs. 38,500 crore for MANREGA.
They gave LPG connection to woman BPL families. The allocation made for that Rs. 2000 crore for five years.
They gave grants to Gram Panchayat and Municipalities about 2.87 Lakh.
They set up 300 urban clusters under SHYAMA PRASAD MUKHERJI RURBAN MISSION.
The government provided Rs. 1, 51,581 crore for education and health.
New health protection scheme introduced which is cover up to Rs. 1 lakh and additional 30000 provided to the senior citizens.
Under the JAN AUSHADHI YOJANA, the government established 300 stores
Impact of Budget on Poor Population in 2017-18
The government allocates 500 crore for MAHILA SHASHAKTI KARAN KENDRA & 1.84 crore for woman and children empowerment.
The government pays Rs. 6000 to a pregnant woman.
The banks cut the interest in housing loan.
The government eliminates TB from the country.
The government will get AIIMS to Gujrat and Jharkhand.
The ADHAAR Card use as health monitor card for senior citizens.
Government increase sits in graduation to fill a shortage of doctors.
Provision for Energy Sector in Budget 2016-17
The government gave Rs. 3000 crore for nuclear power generation.
The government initiate to those people who is working in deepwater gas exploration.
The Govt. is thinking about to implement a project for exploiting nuclear energy.
Provision for Energy Sector in Budget 2017-18
The government will set a policy for crude reserve.
The government invests in energy sector about Rs. 1.26 lakhs.
The government introduces high capacity solar parks to produce more electricity.
Key Allocation to the Finance Sector in Budget 2016-17
A government gets a comprehensive code on a resolution of any financial firm.
The government establishes a Finance Data Management Center.
RBI gives a facility to direct participation in govt. Security.
The SEBI is developed new products in derivative markets.
The government allocated Rs. 1.8 lakh crore under PRADHAN MANTRI MUDRA YOJANA.
The government owned listing insurance companies in share markets.
Key Allocation to the Finance Sector in Budget 2017-18
The government reform the FDI. The government is eliminating FBIP in India.
The government does a listing of IRCTC & IRKON at the stock market.
The negotiable instrument will be amended in the year 2017-18.
The post office can render passport.
How much Allocation made for Growth in Fiscal Policy Budget 2016-17?
Fiscal deficit in the year 2016-17 is about 3.5%. Total expenditure is about 19.87 crore.
Revenue deficit projected at 2.8% to 2.5%.
Expenditure pegged at 5.50 Laky Cores, and it is increasing at 15.3%.
How much Allocation made for Growth in Fiscal Policy Budget 2017-18?
The government spends 21.27 crore for fiscal policy.
The government pegged fiscal deficit at 3.2% of a GDP and 3% in the next year.
What Proposals made for Tax in Budget 2016-17
Infrastructure and agriculture cess levied in the year 2016-17.
Excise duty increase about 15% on tobacco products.
The government levied 1% service charge on the purchase of luxury car worth about 10 lakh & Any cash purchase of goods and services exceed than 2 lakh.
0.5% KRUSHI KALYAN cess levied on all services.
Companies which are doing profit less than 5 crore that taxable at 29%.
The prices of luxury cars are taxable at 4% high capacity tax.
Jewellery is taxable at 1% more excise duty except for silver.
What Proposals made for Tax in Budget 2017-18
The GST will impose from 1st July 2017.
The customs duty reduces from 2.5% to 5%.
The government announces that any individual do not transact into cash.
Income tax slab rate
Budget 2016-17- Income Tax slab
Budget 2017-18- IncomeTax Slabs
Budget proposals for Defence sector in Budget 2017-18?
The government increase in the defence budget by 6.2%.
The government will provide pension about to the 2.74 lakh crore.
The government will create safe travel system to the soldiers.
The government will bring out poverty about 50,000 Gram Panchayat.