Highlights of the Union Budget for 2018-19 (Apr-Mar), presented by Finance Minister Arun Jaitley in Parliament today:

Highlights of the Union Budget for 2018-19 (Apr-Mar), presented

by Finance Minister Arun Jaitley in Parliament today:

 

MACROECONOMY MATTERS

* Govt has implemented fundamental structural reforms

* India stands out as the fastest growing economy in world

* Promised to reduce poverty, build strong India

* Direct transfer mechanism is a global success story

* Will focus on health, infrastructure, senior citizens

* Focus on 'ease of living' for common man

* To move ahead on ease-of-doing business

* This Budget to consolidate gains of last 4 years' budgets

* Demonetisation has reduced cash in circulation

* Recapitalised banks have better capacity to support growth

* Indirect tax system made simpler with GST

* FDI increased due to govt actions

* Manufacturing sector back on growth path

* There's a premium on honesty because of govt's reforms

* Firmly on course to achieve 8% plus growth

* India to become fifth largest economy very soon

* India a $2.5-trln economy now

* Achieved average 7.5% growth in first 3 years of govt

 

AGRICULTURE

* FY19 Budget aims to strengthen agri, rural economy

* Seek paradigm shift to double farmers' income by 2022

* Govt committed to welfare of farmers

* Govt to create mechanism for post harvest facilities

* MSP hikes not enough, farmers must be able to get benefits

* Next kharif crop MSP to be at least 1.5 times of cost

* Emphasis on generating gainful farm, non-farm jobs

* Focus on low-cost farming, higher selling price

* Institutional system for farm goods price, demand forecast

* NITI Aayog to make robust system for fair price to farmers

* Export of farm commodities to be liberalised

* Agri export potential $100 bln

* To launch Operation Green in line with Operation Flood

* Allocate 5 bln rupees for Operation Green

* Allocation for food processing sector 14 bln rupees FY19

* Allocate 2 bln rupees for medicinal, aromatic crops

* To encourage women self-help groups for organic farming

* Cluster-based models to be developed for horticulture crops

* e-NAM to be exempt from APMC regulations

* To develop, upgrade 22,000 rural haats to agricultural mkts

* To allocate 20 bln rupees for farm development fund

* Favourable tax treatment for farm mfg organisations

* Agri credit target at 11 trln rupees for FY19

* Kisan credit card benefit also to animal husbandry, fishing

* To launch bamboo mission for 12.9 bln rupees

* 470 APMCs connected to e-NAM, rest to be connected by Mar

* To set up 42 mega food parks for farm exports

 

FY18 REVISED

* Hope to grow 7.2-7.5% in H2 FY18

* Exports expected to grow 15% in FY18

 

POLICY STEPS

* 100 bln rupees for animal husbandry, fisheries develop fund

* To set up 2 new funds of total 100 bln rupees for fishery

* Online loan facility for MSMEs to be revamped

* To address bad loan problems of MSMEs

* 37.94 bln rupees for MSME credit support

* Job creation core of policy planning

* To take steps for improving start-up funding environment

* PSUs to be part of e-trade receivables platform

* To link e-trade receivables platform with GSTN

* To review refinancing policies under MUDRA plan

* To give 40 mln power connections under Saubhagya Yojana

* 3 trln rupees lending target for MUDRA plan FY19

* Smart City scheme outlay 2.04 trln rupees

 

SOCIAL SECTOR

* To set up dedicated affordable housing fund under NHB

* Aim 5.1 mln rural houses under affordable housing plan

* Aim to give houses to all poor by 2022

* Aim to build 20 mln more toilets under Swachh Bharat

* More than 60 mln toilets built under Swachh Bharat plan

* To give 80 mln LPG connections under Ujjwala scheme

* To spend 1 trln rupees on education infra over 4 years

* To subsidise removal of crop residue to tackle pollution

* To set up Ekalavya schools for scheduled tribes

* To treat education holistically pre-nursery to class 12

* To move from blackboard to digital board

* Allocate 99.75 bln rupees for social security plan FY19

* Allocation to Natl Livelihood Mission 57.50 bln rupees

* Allocate 14.3 trln rupees for rural infra FY19

* Allocate 26 bln rupees under ground water irrigation plan

* Health protection scheme to cover 100 mln poor families

* Allocate 12 bln rupees for health wellness centres

* To launch PM research fellow plan for 1,000 BTech students

* To set up 2 new schools of planning & architecture

* 600 mln Jan Dhan accts to get micro insurance benefit

* 24 new medical colleges to be set up via hospital upgrade

* Aim 1 medical college for every 3 Parliament constituency

* 6-bln-rupee nutritional support for Tuberculosis patients

* Govt progressing towards universal health coverage

* Health scheme to have 500,000 rupee/family/yr benefit

* Allocate 566.2 bln rupees for Scheduled Castes welfare

* Cover all poor family in PM insurance plan in mission mode

* 187 projects sanctioned under Ganga cleaning programme

* Allocate 391.35 bln rupees for welfare of Scheduled Tribes

* Govt women employees to contribute 8% to EPF in first 3 yrs

 

MISCELLANEOUS

* Special scheme to fight pollution in Delhi-NCR

* To develop 10 places as iconic tourism destinations

* To construct tunnel under Sela Pass