BUDGET 2017-18

&

YOJANA (MARCH 2017)

- ANALYSIS

BY SHYAM S KAGGOD

BACKGROUND TO THE BUDGET

Internal

External

THE BUDGET SHOULD PROVIDE THE ANSWERS TO

THESE QUESTIONS

How the budget will impact the economy?

Has the budget been successful in reviving investments?

What has the budget done to overcome the impact of

demonetization?

List the steps taken by the budget to promote

employment and productivity

Budget is low on rhetoric and high on substance-

evaluate

UNION BUDGET FY18 – MAJOR CHANGES

Merger of Railway Budget with Union

Budget

Phasing out of plan and non-plan

expenditure

Budget announcement preponed by a

month

UNION BUDGET 2017-18

The agenda for budget 2017-18 is TEC: Transform, Energize

and Clean India

RAILWAY BUDGET

Some facts about railway budget

Reasons for the merger

RAILWAY BUDGET

Passenger Safety

Capital and Development Works

Cleanliness

Finance and Accounting Reforms

SERVICE CHARGE WAIVER AND LISTING OF IRCTC

FARMING SECTOR

Agriculture credit

Bringing PACS under CBS

Crop Insurance

Soil Health Cards

Irrigation

e-NAM coverage

Model law on Contract Farming

BANKING SECTOR

Recapitalization of ₹ 10000 Cr

DIGITAL ECONOMY

Two more schemes to promote digital transactions

launched

To launch Aadhaar Pay

PoS push

Payments Regulatory Board proposed

DIGITAL ECONOMY – TWO MORE SCHEMES

Will have an outlay of ₹495 crore for a period of six months

This is to ensure that the culture of digital payments permeates down

to the grassroots

Under the Referral bonus scheme both the existing user who refers

BHIM and the new user who adopts BHIM would get a cash bonus

credited directly to their account

Under the Cashback scheme the merchants will get a cashback on

every transaction using BHIM

Both schemes are to be administered by MEITY and implemented by

NPCI

DIGITAL ECONOMY

BharatNet coverage to be expanded

DigiGaon initiative to provide tele-medicine, education &

skills through digital economy

Digital Inclusion Fund

New schemes to promote BHIM digital payment

EDUCATION

System to measure annual learning outcomes

Innovation fund for Secondary Education

National Testing Agency proposed

SWAYAM Platform

Two AIIMS to be set up – Jharkhand and Gujarat

GOVERNANCE

Political Donations

Cash Transaction limit

EoDB

HEALTHCARE SECTOR

Focus on quality and quantity

Action plan to eliminate

Kala azar and Filariasis by 2017

Leprosy by 2018

Measles by 2020

Tuberculosis by 2025

Mahila Shakti Kendras to be set up

Taxes and duties to be increased on tobacco, tobacco

products, cigarettes, gutkha, bidis etc

INDUSTRIES

MSME

Corporate taxes on small firms reduced

Presumptive taxation on small businesses reduced to 6%

Increased in the lending target of MUDRA Scheme

Government to amend and simplify labour laws

OIL AND GAS SECTOR

Integration of public sector oil companies

Strategic Crude oil reserves to be set up at 2 more

locations

SKILL DEVELOPMENT & JOB CREATION

SANKALP Introduced

Skill India Mission will be extended

India International Skill centers will be set up

INFRASTRUCTURE

Airports in Tier 2 cities to be developed on PPP mode

A New Metro Rail Policy to be announced

NON-TAX PROPOSALS IN FINANCE BILL 2017

In case of Tribunals

Payments Regulatory Board

Political Funding

Aadhaar made mandatory

NON-TAX PROPOSALS IN FINANCE BILL 2017

DEFICIT

Fiscal Deficit

Revenue Deficit

N K Singh Committee Report

OTHER POINTS

Taxes

Subsidies

Disinvestment

Worries/Concerns

Last Word