Every Minute Highlight- Budget 2016-17

Every Minute Highlight- Budget 2016-17

Every Minute Highlight- Budget 2016-17

11:33  Most political budget speech in yrs. Tone echoes a hard Agro-povertarian swing. govt seems losing nerve early, say experts. Every Minute Highlight- Budget 2016-17

11:32  Catastrophic health events single largest cause of out of pocket expenditure, pushes people below BPL. Govt to launch new health protections schemed, health cover of Rs 1 lakh per family. Addl top up of Rs 30000 for senior citizens

11:31  Rs 2,000 crore to meet initial cost of proving LPG connections for rural areas. Scheme to continue for 5 years to cover BPL households
Women of India have faced the curse of smoke during cooking, time to remedy this – Jaitley
Over Rs 87,000 crore allocated for rural development.

11:30  Rewards system for rural areas that eliminate open defecation:  Two digital literacy programme will cover 6,000 extra villages
Rs 38,500 crore allocated to MNREGS- Highest ever amount spend in a year

11:29  Rs 38,500 crore allocated for MGNREGA
To provide statutory backing to Aadhar: FM
A unified agriculture platform to be dedicated to the nation on the birth anniversary of BR Ambedkar: FM

A dedicated irrigation fund worth Rs 20,000 crore to be set up under NABARD

First time plan expenditure has increased which is happening due to record public spending in infrastructure

PSU banks gain ahead of Union Budget; SBI up 3%

At start of year, 18,500 villages were not electrified. As of mid-Feb, 5,500 villages have been electrified. 100% rural electrification to be done by May 2018

 
11:23  FM Jaitley takes Speaker’s suggestion, to read out rest of speech sitting down.
Total allocation for agri and farmer welfare is Rs 35,984 crore
Four new projects for dairy farmers, to costs Rs 850 crore

11:22  Provision of Rs 15,000 crore to ease burden on loan repayment in form on interest subvention for farmers
100 kms road construction per day currently to be stepped up.
Rs 27,000 crore to be spent on roads network

11:21  BSE 23,191.93 +37.63 (+0.16%)
NSE 7,037.65 +7.90 (+0.11%)

11:20  Markets bounce back as Jaitley presents Budget in Parliament.

11:19  Govt implementing a unified market for agri produce, e-platform to be launched after states amend APMC Act. E-platform to be dedicated on Babasaheb Ambedkar’s birth anniversary.

11:19  Rs 500 crore allocated to pulses production.

11:18  Nominal premium and highest ever compensation in case of crop loss under the PM Fasal Bima Yojana: FM

11:17  Global economy has reduced from 3.4% to 3.1% growth. Indian economy has grown to 7.6% while CPI inflation down to 5.4% – Jaitley
Allocation for AIBP at Rs 17,000 crore

11:16  Business Standard Says: FM says public listing of general insurance companies. FY17 could be year of insurance company IPOs. Not even a single domestic insurance company is listed in India yet

11:16  Nominal premium and highest ever compensation in case of crop loss under the PM Fasal Bima Yojana: FM

11:15  Of 141 mn hectares of cultivated area, only 46% covered by irrigation. 28.5 lakh hectares to be brought under new scheme.
Agri and farmers’ welfare: Need to think beyond food security to income security. WIll double income of farmers by 2022. Rs 35, 984 crore allocation

11:14  Agri, rural sector, health sector, education skills and job creation, infra and investment, financial sector reforms, governance and ease of business, fiscal discipline, and tax reform to reduce compliance burden
Will provide for PSU bank recapitalisation in this fiscal.

11:13  Farm, rural sector, infra, social sector to have more Government expenditure: FM
FM says that recapitalization of banks will be done during next FY

11:12  Govt to focus on passing GST and Bankruptcy laws. Statutory backing for Aadhaar platform
Govt to provide addl resource to rural and vulnerable areas
Increasing outlay on social sector programmes, 3 schemes to be focus: Crop Insurance, health insurance scheme for 1/3rd of India and BPL families to be provided with cooking gas connection helped by govt
7th Pay Commission and OROP to put burden on finances

11:11  GDP growth accelerated to 7.4%: FM Arun Jaitley
We have bridged the trust deficit created by the previous government
Our forex reserves are at the highest level
CPI inflation has come down to 5.4% under our government, despite two poor monsoons

These are the Every Minute Highlight- Budget 2016-17(Source rediff.com)

Author: smit shah

I am a passionate Chartered Accountant having deep interest in taxation with combination of blogging.

Leave a Reply