Union Finance Minister Arun Jaitley along with his team is presenting the Annual Budget For India today despite the death of a sitting Parliamentarian. As there was confusion earlier of presenting the Union Budget the Wednesday Morning after the death of Former Union Minister & Indian Union Muslim League (IUML) MP E. Ahamed. He died due to cardiac arrest at 2.15 am today.
Highlights Of Union Budget 2017 – 18 For India:
Let us dwell into this and know what is going to change financially and what will remain the same!
AT 12.00PM : Arun Jaitley informed that the cash transaction limit is Rs 3 Lakh and is abolishing the Foreign Investment Promotion Board (FIPB) and the FDI (Foreign Direct Investment) is going to get a big makeover.
AT 11.55 AM : Arun Jaitley said that he will undertake reforms in UGC (University Grants Commission) for higher education and will give autonomy to various colleges and institutions.
AT 11.52 AM: Union Cabinet has extended the tenure of loans under the Credit Linked Subsidy Scheme of Pradhan Mantri Awas Yojana from 15 – 20 years.
AT 11.51 AM: A system of Annual Learning Outcome in Schools will be introduced and the innovation funds for the Secondary Education will be set up.
AT 11.50 AM: Safe Drinking Water will be provided to the 28,000 Aresnic and Fluoride Affected Habitations. Will also be covering Sanitation in the villages which has now increased from 42% in October 2016 to 60% till now , with a steep rise of 18%.
AT 11.48 AM: Rs.27,000 Crore will be spent on Pradhan Mantri Gram Sadak Yojana & 1 Crore Houses will be completed by 2017 -18 for the homeless.
AT 11.47 AM: Merger of Railway Budget with the General Budget brings focus on multi model approach for developing railways , highways and inland water transportation. Functional autonomy of the Railways will also be maintained.
AT 11.46 AM: Demonetisation is a bold and decisive measure taken by the government after a series of measures observed in 2 years. Demonetisation will have transient impact on the economy and will bring the long term benefits including the Higher GDP Growth and Tax Revenue.
AT 11.45 AM: Then the Union Cabinet took 2 tectonic policy initiatives in 2016 – 17 which are the Passage of Goods and Services Tax (GST) and Demonetisation. Also said that pace of Remonetisation has picked up and the effect of demonetisation will not spill in the next coming years.
AT 11.43 AM: Arun Jailtey said that India is seen as engine of global growth and the International Monetary Fund (IMF) will help India grow fastest in the major economies and the effects of demonetisation is not expected to spill into the next years.
AT 11.41 AM: Agricultural sector will be boosted up to 41 % in this fiscal year. The target of agricultural credit fixed is at Rs 10 Trillion in 2017 – 18 and Rs 9,000 Crore will be higher allocation for payment of sugarcane arrears.
The MGNREGA increased its allocation to 48,000 Crore from previous Rs 38,500 Crore in the Union Budget 2017. It is the highest ever allocation till now. Space Technology will be used to monitor the MGNREGA Implementation.
AT 11.38 AM: Arun Jaitley says that the Union Budget is committed to double the farm income in the next 5 years.
AT 11.35 AM Government’s agenda for the next year is to transform , energize and clean India. World Bank expects the India GDP to grow at the rate of 7.6% in FY18 and 7.8% IN FY19.
Mini Labs will be qualified by local entrepreneurs which will be set up for soil testing in all the 648 Krishi Vigyan Kendras in the country.
AT 11.33 AM: Government will spend more in rural areas , infrastructure , alleviating poverty while still maintaining the fiscal prudence as the guiding principle of the Budget 2017.
AT 11.31 AM: Merger of the railway budget with the Union Budget is the historic step and does away with the colonial practice and will help follow an integrated plan.
AT 11.19 AM: Demonetisation was a bold decision to arrive at a bigger , cleaner and real GDP of India. The double digit inflation was controlled and sluggish growth has been replaced by high growth.
AT 11.16 AM : Arun Jaitlay said that India is moving from informal economy to formal economy and with this India will stand out as a bright spot in the world economic landscape.
AT 11.10 AM: Finance Minister Arun Jaitley starts presenting the Union Budget 2017 for India in the Parliament amid huge ruckus from the Opposition Benches.
File Image : Lok Sabha Speaker Sumitra Mahajan.
AT 11.05 AM: Lok Sabha Speaker Sumitra Mahajan says that it is an exceptional situation as the Union Budget 2017 Session has been called by President Pranab Mukherjee and the house will not sit on Thursday as the mark of respect for the dead parliamentarian.
While Congress Mallikarjun Kharge demands the adjournment of the Parliament today and asked to present the Union Budget tomorrow.
AT 11.00 AM: Lok Sabha Speaker Sumitra Mahajan reads out an Obituary Reference to late Parliamentarian MP E Ahmed.
While the Opposition opposes the Budget 2017 presentation and calls for the adjournment of the Parliament following the death of MP E Ahmed.
AT 10.46 AM: India’s Prime Minister Narendra Modi arrives at the Parliament House for the Cabinet Meeting.
With this , the Union Budget 2017 Live Streaming is done above and the Finance Minister Arun Jaitley is expecting to boost the spending and ease the back on cutting the deficit when going to present the 4th budget and he seeks to lift growth hit by the government’s demonetisation drive which will purge the economy of black money.
