Budget 2017 Highlights of Arun Jaitley announcements
Some Highlights:
Income Tax rate cut from 10 to 5 pc for Rs 2.5 to 5 lakh income slab
No cash transaction above Rs 3 lakh to be permitted
Fiscal deficit target for 2018-19 pegged at 3% of GDP
Revenue deficit is pegged at 1.9%
Demonetisation led to 35 pc increase in Income Tax collection
Defence allocation at Rs. 2.74 lakh crore
Total budget allocation is Rs. 21.47 trillion in 2017-18
20 lakh Aadhaar-based swipe machines targetted by 2020
New law proposed to confiscate assets of economic offenders
Agriculture expected to grow at 4.1 pc
10 lakh crore credit to farmers targetted
Coverage under crop insurance scheme to be increased to 40%
Dairy processing infra fund to be set up for Rs. 2,000 crore
Reforms in UGC in education sector
National Testing Agency to be set up
Rs. 48,000 cr for MNREGA is highest allocation ever
1 crore rural households to be brought out of poverty
100 India international Skill Centres to be established
100% rural electrification
Elimination of tuberculosis by 2025
Two new AIIMS to be set up in Jharkhand and Gujarat
3500 km railway line extension
No unmanned label crossing by 2020
Bio-toilets in all trains by 2019
Focus on Railway cleanliness
1 lakh crore for Railway security
500 stations to be made disabled friendly
Allocation for highways raised to Rs. 64,000 crore
Carpet area instead of built up area to be considered for low-cost housing.
Andhra Pradesh's new capital Amaravati land pool holders will not pay tax on capital gains
Donations to political parties from one source permitted only up to Rs 2,000
Amendment being proposed to enable issue of electoral bonds
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