Budget 2017: Jaitley speaks on rural sector
Union Finance Minister tables Budget 2017 in the Parliament on Wednesday.
Jaitley says, "According to Budget 2017, villages will be electrified by 2018, will have sleek roads and homes for everyone."
Highlights:
* Demonetisation was a continuation of series of measures taken by govt in 2 yrs; it is bold and decisive measure. Demonetisation will help in transfer of resources from tax evaders to government. Effects of demonetisation not expected to spill over to the next year.
* Govt took two tectonic policy initiatives-passage of GST Bill and demonetisation.
* 36 per cent increase in FDI flow; forex reserves at USD 361 billion in January enough to cover 12 months needs.
* CAD declined from 1 pc last year to 0.3 pc in first half of current fiscal.
* Top-class idea to work on measuring quality of learning.
* Propose to leverage ICT with the launch of 'Swayam' platform which has 350 free courses.
* 'Sankalp' for skill strengthening of youth.
* More road construction to be undertaken.
* Total allocation to all women and children's related schemes to rise from Rs 1.56 lakh crore to Rs 1.84 lakh crore.
* Rs 5,000 crore Micro-Irrigation Fund to be set up by NABARD.
* Focus in rural spending-MNREGA fund targets achieved for last year, Rs 48,000 crore-highest ever allocations.
* India has become the sixth largest manufacturing country in the world-up from ninth previously.
* Mahila Shakti Kendra at village level for rural women empowerment to be initiated this financial year.
* Law on contract farming.
* Poverty-free India.
* Fifth component of TEC India is Infrastructure.
* Govt plans legislative reforms to simplify existing labour laws-wages, industrial relations, social security and safety.
* Govt plans to increase additional 5,000 post graduate seats per annum.
* Jharkhand and Gujarat to get AIIMS.
* Total allocation to all women and children's related schemes to rise from Rs 1.56 lakh crore to Rs 1.84 lakh crore.
* Total allocation for rural, agricultural and allied sectors for 2017-18 at record Rs 1.87 crore, it is up by 24 per cent.
* Safe drinking water to cover 28,000 arsenic and Fluoride affected habitations in the next four years.
Stay tuned for more such updates.