Here Are The Key Takeaways From The Budget 2018
February 1st, 2018
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Here are the key highlights from the Budget 2018.
The Finance Minister, Arun Jaitley while presenting the budget mentioned that even though more children are going to school, the quality of education is a concern. 1 lakh crore would be invested for better infrastructure in education.
New technology and a digital classroom would be introduced for better learning. He introduced an amended RTE act to train teachers. B.Ed course would be introduced for proper training of aspiring teachers.
For better research in higher educational institutes 1 lakh crores have been allocated.
The government plans to spend Rs 14.34 lakh crore on rural infrastructure for various schemes. For better groundwater availability for irrigation in 96 deprived districts, 2600 crores have been allocated.
They also plan to raise the minimum support price for kharif crops to 1.5 times of agri production cost—that is cost plus 50 percent.
National Health Protection scheme has been introduced for the benefit of the poor. 10 crore poor families to be benefitted from the scheme. In 10 crore families, there would be more than 50 crore beneficiaries. Arun Jaitley says this would be the World’s largest government-funded healthcare programme.
Under this scheme, 5 lakh per year would be given to 10 crore poor families for healthcare. Rs 600 crore has been allocated to provide nutritional support for tuberculosis patients.
Railways and Air connectivity
The government also plans on making 160km of suburban railway in Bengaluru at 17000 crore
They also plan to electrify 4000 km of the railway line by 2019. The Udaan scheme to serve 56 unserved airports, 31 heliports.
Plan 99 smart cities with an outlay of Rs 2.04 lakh crore. To complete 9,000 km of National Highways in FY18.
Rs.3,073 crore has been allocated for digital India. 5 lakh wifi in rural areas would be set up at the cost of Rs.10,000 crore for digitising rural India.
Government to contribute 12% of EPF to all sectors. Fiscal deficit target at 3.5% of GDP. Cryptocurrencies have been made illegal tender.
Mahatma Gandhi Commemoration programme
To commemorate Mahatma Gandhi 150th birth anniversary a national committee with the Prime Minister and the Chief Ministers of the state will be constituted. A commemoration program will be held and Rs.150 crore has been allocated for 2018-19 leading to the commemoration.
Ujjwala Yojna to benefit 8 crores poor woman with gas connection. Rs.6,000 crore spent to provide electricity to the rural areas under Pradhan Mantri Swabhagya Yojna. Women’s self-help groups to receive loans of up to 75000 crores by March 2019.
He also announced that the places which have more than 50% of Scheduled Tribe population to have Ekalavya schools by 2022.
He explained that out of the 187 projects for Ganga clean-up, 47 has been completed and the other projects are progressing.
Under the ‘Swacch Bharat’ scheme, six crore toilets made so far, aim to make two crores more. To increase spending on rural sanitation.
The Logical Indian Take
In the budget, it was said that the total revenue receipts increased from Rs.15.05 lakh crores to Rs.17.25 lakh crores, an increase of 14.63%. In contrast to last year, the allocation for education increased by 3.84%, on health, it increased by 2.76%. Although, the tax administration expense increased by 35.75%.