Current General Knowledge Today: Central Budget 2017-18 Highlights

2017 Union Budget, Serving Finance Minister Arun Jaitley On 01 February 2017, 10 areas of focus were agriculture sector, rural population, healthcare for youth, poor and disadvantaged, infrastructure, financial sector for strong institutions, speedy accountability, public service, prudent revenue management and tax administration for honest people. .

Highlights of his speech on various issues are as follows:


1. The denomination is expected to have a temporary effect on the economy.

2. It will have a big impact on the economy and people’s lives.

3. Denomination is a bold and decisive measure that will lead to higher GDP growth.

4. The effect of the ban will not be felt in the next financial year.

1. Sowing farmers should feel safe against natural disasters.

2. Rs.10 lakh crore has been allocated as loan for farmers with 60 days interest waiver.

3. NABARD raises funds to Rs. 40,000 crore.

4. The government will set up a mini lab at the Agricultural Science Center for soil testing.

5. A dedicated Micro Irrigation Fund with an initial corpus of Rs. 5,000 crore will be set up for NABARD.

6. Irrigation corpus has increased from Tk 20,000 crore to Tk 40,000 crore

7. Dairy Processing Infrastructure Fund will be initially made up of Rs 2000 crores.

8. Soil card issuance has gained momentum.

9. A model law of contract farming will be prepared and shared with the States

1. Government’s goal is to lift 1 crore families out of poverty by 2019.

2. In 2017-18, five lakh farm ponds will be taken under MGNREGA.

3. More than Rs 3 lakh crore will be spent for rural India MGNREGA to double farmers’ income.

4. Take steps to ensure 55% participation of women in MGNREGA

5. Space technology will be widely used to ensure MGNREGA operations

6. The government has proposed to complete 1 crore houses for those who do not have houses.

7. Rs. 19,000 crore will be allocated for Prime Minister’s Village Road Scheme in 2017-18.

8. The country is on track to achieve 100% rural electrification by March 2018.

9. Transparent India Mission has made remarkable progress; Sanitation coverage has increased from 42% on October 13 to 60% now.

1. Introduce a system of measuring annual education results and bring in an innovative fund for secondary education.

2. The focus will be on the 3,479 educationally backward blocks.

3. Colleges will be identified on the basis of recognition.

4. Skill India Mission was launched to maximize the potential. India will set up 100 international centers across the country.

5. Courses on foreign languages ​​will be introduced.

6. Take steps to create 5000 PG seats per year

For the poor and health care

1. Rs. 500 crore allocated for women power centers.

2. Under a nationwide scheme for pregnant women, Rs. 6000 will be transferred per person.

3. Rs. 1,84,632 crore allocated for women and children.

4. Affordable housing will be given infrastructural status.

5. Due to surplus liquidity, banks have started reducing lending rates for housing.

6. Target to eradicate TB by 2025.

7. Health sub-centers, number 1.5 lakh, will be converted into health wellness centers.

8. Two AIIMS will be set up in Jharkhand and Gujarat.

9. The regulatory structure of medical education will undergo structural transformation.

10. Allocation for Scheduled Castes is money. 52,393 crore

11. Aadhaar-based smart cards will be issued to senior citizens for health check-ups.

1. The total allocation has been Rs. 39,61,354 crore.

2. The total allocation for railways is Rs. 1,31,000 crore.

3. There is no service charge for tickets booked through IRCTC.

4. With protection coach rupee. 1 lakh crore for five years (for passenger safety).

5. Unmanned level crossings will be eliminated by 2020.

6. 3,500 km of railway line will be introduced this year from 2,800 km last year.

7. SMS-based “Clean My Coach Service” has been launched.

8. Coach Mitra facility will be introduced to record all complaints related to coaches.

9. By 2019, all trains will have bio-toilets.

10. More than five hundred stations will be made disability friendly.

11. Railways will partner with logistics players for front-end and back-end solutions for selected products.

12. Railways will provide competitive ticket booking facility

13. Rs 64,000 crore allocated for highways.

14. High speed internet will be allocated to 1,50,000 gram panchayats

15. New Metro Rail Policy will be announced with new method of financing

1. A strategic policy will be established for unrefined stocks

2. Taka 1.26,000 crore has been received for energy production-based investment

3. Trade Infra Export Scheme 2017-18 will be launched.

1. FDI Policy Reform – Over 90% of FDI inflows are now automated.

2. Shares of Rail PSE like IRCTC will be listed on the stock exchange.

3. Bills related to the resolution of financial institutions will be introduced in this session of Parliament.

4. FIPB has decided to cancel in 2017-18

5. The Foreign Investment Promotion Board will be abolished.

6. Revised process to confirm CPSE timeline

7. Computer Emergency Response Team will be formed for the financial sector.

8. Loan target of Rs 2.44 lakh crore for Prime Minister’s Currency Scheme 2017-18

9. Digital India – Bhim App will revolutionize mobile phones – Two new schemes to promote the app.

10. The government will introduce two new schemes to promote the BHIM app – referral bonus for users and cash back for merchants: FM.

11. The negotiable materials law may be amended.

12. DPT for LPG customers, Chandigarh Kerosene Free, 84 Government Schemes are available on DBT Platform.

13. Head Post Office as central office for providing passport services

14. Easy online booking system for Army, Defense personnel

15. For big time crime – including economic criminals fleeing India, the government. Will introduce a legal change or new law to confiscate the assets of these individuals within the country.

1. Total Cost – Rs.21,47,000 crore

2. Abolition of plan, non-plan expenditure, focus on capital expenditure (capital expenditure will be 25.4 percent)

3. 3,000 crore under the Department of Economic Affairs for the implementation of the Taka Budget Declaration.

4. Defense expenditure, excluding pension, Rs. 2,74,114 crore

5. Expenditure on Science and Technology – Money. 37,435 crore

6. The total assets transferred to the States and Union Territories is Rs. 4.11 lakh crore

7. Proposed 3% revenue deficit for three years with 0.5% deviation of GDP.

8. Revenue Deficit – 1.9%

9. The revenue deficit for 2017-18 is committed to 3.2% of GDP and 3% for the following year.

With the funds of political parties

1. The maximum amount of cash grant for political parties will be Rs. 20,000 to Rs. 2,000 from any one source.

2. Political parties will be entitled to receive grants from donors in check or digital mode.

3. It is proposed to amend the RBI Act to issue election bonds that the government will plan Donors can purchase these bonds from banks or post offices through checks or digital transactions. These can only be redeemed by registered political parties.

1. The ratio of direct tax to indirect tax is not optimal.

2. 1.95 crore people have shown income between 2.5 lakhs to 5 lakhs.

3. Out of 76 lakh personal assessors declaring income above Rs 5 lakh, 56 lakh are salaried.

4. Only 1.72 lakh people have shown an income of more than Rs 50 lakh per annum.

5. Between 8th November to 30th December: Between Rs. 2 lakhs to Rs. 80 lakhs were deposited in 1.09 crore accounts.

6. Net tax revenue for 2013-14 was Rs 11.38 lakh crore.

7. Out of 76 lakh personal appraisers declaring income above Rs 5 lakh, 56 lakh are salaried.

8. 1.95 crore people have shown income between 2.5 lakhs to 5 lakhs.

9. The rate of advance tax on personal IT in the last three quarters of this financial year is 34.8%.

10. Holding period has been reduced to 2 years for long term capital gain

11. Offer to carry-forward MAT for 15 years.

12. Capital gains tax exemption will be given to the owners of the land from which the land was acquired for making Telangana the capital.

13. Corporate Tax: To make MSME companies more efficient, 16. Suggest tax reduction for small companies with a turnover of Rs 50 crore to 25%. About 67 lakh companies fall into this category. 98% of companies will get this facility.

14. Proposal to reduce basic tariff for LNG from 5% to 2.5%

15. SIT recommends cash transactions of over Rs 3 lakh on black money The government has accepted the proposal.

16. Income tax law will be amended. Transactions in excess of Rs 3 lakh in cash will not be allowed.

17. The limit of cash grant by charitable trust has been reduced from Rs.10,000 to Rs.2,000

18. The net revenue loss of direct tax may be Rs. 20,000 crore.

19. India’s tax-to-GDP ratio is not favorable.

20. Out of 13.14 lakh registered companies, only 5.97 lakh companies have filed returns for 2016-17.

1. The existing tax rate for individuals in money. 2.5- 5 lakhs has been reduced from 10% to 5%

2. In the next bracket, all other categories of taxpayers will get a benefit of Rs. 12,500

3. Those whose annual income is Rs. 5 lakh other than business income.

4. Those who are filing IT returns for the first time will not come under the government. scrutiny5.

5. 10% surcharge on personal income above Rs. Due to reduction in personal IT rate, losses of Rs. 50 lakhs and up to Rs. Surcharge on personal income above Rs. There is 1 crore left.

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