Budget – 2017-18 (In crore of Rupees)
1.
Total Expenditure – 21,46,735
2.
Revenue Deficit – 1.9% (2016-17 - 2.1%)
3.
Fiscal Deficit – 3.2% (2016-17 - 3.5%)
4.
Primary Deficit – 0.1% (2016-17 - 0.3%)
5.
Defence – 2,62,390
6.
Interest – 5,23,078
7.
Mahatma Gandhi National Rural Employment Guarantee Programme – 48,000
8.
National Social Assistance Progamme – 9,500
9.
Pradhan Mantri Krishi Sinchai Yojana – 7,377
10.
Pradhan Mantri Gram Sadak Yojna – 19,000
11.
Pradhan Mantri Awas Yojna – 29,043
12.
National Rural Drinking Water Mission – 6,050
13.
Swachh Bharat Mission – 16,248
14.
National Health Mission – 27,131
15.
Sarva Shiksha Abhiyan – 23,500
16.
Mid Day Meal – 10,000
17.
National Livelihood Mission – 4,849
18.
Atal Mission for Rejuvenation and Urban Transformation & Smart Cities Mission – 9,000
19.
Recapitalization of Public Sector Banks – 10,000
20.
Deen Dayal Upadhyaya Gram Jyoti Yojna – 4,814
21.
Target for agricultural credit in 2017-18 has been fixed at a record level of 10 lakh crores.
22.
Farmers will also benefit from 60 days’ interest waiver announced on 31 Dec 2016
23.
Coverage under Fasal Bima Yojana scheme will be increased from 30% of cropped area in 2016-17 to 40% in 2017-18 and 50% in 2018-19 for which a budget provision of 9,000 crore has been made.
24.
A model law on contract farming to be prepared and circulated among the States for adoption.
25.
Mission Antyodaya will be launched to bring one crore households out of poverty and to make 50,000 gram panchayats poverty free by 2019, the 150th birth anniversary of Gandhiji.
26.
Five Special Tourism Zones, anchored on SPVs, will be set up in partnership with the States.
27.
Steps will be taken to create additional 5,000 Post Graduate seats per annum in medical.
28.
LIC will implement a scheme for senior citizens to provide assured pension, with a guaranteed return of 8% per annum for 10 years.
29.
Government said it will raise Rs 72,500 crore through disinvestment.
30.
Against target of 5 lakh farm ponds under MGNREGA, 10 lakh farm ponds would be completed by March 2017. During 2017-18, another 5 lakh farm ponds will be taken up
31.
Women participation in MGNREGA has increased to 55% from less than 48%
32.
Pace of construction of PMGSY roads accelerated to 133 km roads per day in 2016-17, against an avg. of 73 km during 2011-2014
33.
NABARD fund increased to Rs. 40,000 crores.
34.
Well on our way to achieving 100% village electrification by 1st May 2018.
35.
Total allocation for Rural, Agriculture and Allied sectors is 1,87,223 crores
36.
Pradhan Mantri Kaushal Kendras to be extended to more than 600 districts across the country. 100 India International Skills Centres will be established across the country.
37.
Skill Acquisition and Knowledge Awareness for Livelihood Promotion programme (SANKALP) to be launched at a cost of 4,000 crores. SANKALP will provide market relevant training to 3.5 crore youth
38.
Under Maternity Benefit Scheme 6,000 each will be transferred directly to the bank accounts of pregnant women who undergo institutional delivery and vaccinate their children
39.
Affordable housing to be given infrastructure status
40.
Two new All India Institutes of Medical Sciences to be set up in Jharkhand and Gujarat
41.
For senior citizens, Aadhar based Smart Cards containing their health details will be introduced.
42.
For transportation sector as a whole, including rail, roads, shipping, provision of 2,41,387 crores has been made in 2017-18.
43.
For 2017-18, the total capital and development expenditure of Railways has been pegged at 1,31,000 crores. This includes 55,000 crores provided by the Government.
44.
Railways will focus on four major areas which are: Passenger safety, Capital and development works, Cleanliness and Finance and accounting reforms.
45.
Pilot plants for environment friendly disposal of solid waste and conversion of biodegradable waste to energy are being set up at New Delhi and Jaipur railway stations.
46.
Service charge on e-tickets booked through IRCTC has been withdrawn.
47.
A new and restructured Central scheme, namely, Trade Infrastructure for Export Scheme (TIES) will be launched in 2017-18.
48.
Government will launch two new schemes to promote the usage of BHIM; these are, Referral Bonus Scheme for individuals and a Cashback Scheme for merchants.
49.
Aadhar Pay, a merchant version of Aadhar Enabled Payment System, will be launched shortly.
50.
A Mission will be set up with a target of 2,500 crore digital transactions for 2017-18 through UPI (Unified Payment Interface), USSD (Unstructured Supplementary Service Data), Aadhar Pay, IMPS (Immediate Payment Service) and debit cards.
51.
Banks have targeted to introduce additional 10 lakhs new PoS terminals by March 2017. They will be encouraged to introduce 20 lakh Aadhar based PoS by September 2017.
52.
Government will encourage SIDBI to refinance credit institutions which provide unsecured loans, at reasonable interest rates, to borrowers based on their transaction history.
53.
Government proposed to create a Payments Regulatory Board in the Reserve Bank of India by replacing the existing Board for Regulation and Supervision of Payment and Settlement Systems. The payment regulatory board will be set up within the RBI which will comprise of six members, of which three will be from RBI. The chairman of the board will be the Governor of RBI.
54.
Government have decided to utilise the Head Post Offices as front offices for rendering passport services.
55.
Government will commemorate the centenary year of Champaran Satyagrah this year.
56.
Government will support Government of Gujarat to commemorate 100 years of Sabarmati Ashram in 2017.
57.
For passenger safety, a Rashtriya Rail Sanraksha Kosh will be created with a corpus of 1 lakh crores over a period of 5 years.
58.
SMS based Clean My Coach Service has been started.
59.
A new Metro Rail Policy and Metro Rail Act will be enacted by rationalising the existing laws.
60.
In the road sector, Budget allocation for highways increased to 64,900 crores in 2017-18
61.
By the end of 2017-18, high speed broadband connectivity on optical fibre will be available in more than 1,50,000 gram panchayats, under BharatNet.
62.
A DigiGaon initiative will be launched to provide tele-medicine, education and skills through digital technology.
63.
Proposed to set up strategic crude oil reserves at 2 more locations, namely, Chandikhole in Odisha and Bikaner in Rajasthan. This will take our strategic reserve capacity to 15.33 MMT.
64.
Foreign Investment Promotion Board to be abolished in 2017-18 and further liberalisation of FDI policy is under consideration.
65.
A Computer Emergency Response Team for our Financial Sector (CERT-Fin) will be established.
66.
Government will put in place a revised mechanism and procedure to ensure time bound listing of identified CPSEs (Central Public Sector Enterprises) on stock exchanges. The shares of Railway PSEs like IRCTC (Indian Railway Catering and Tourism Corporation), IRFC (Indian Railway Finance Corporation) and IRCON (Indian Railway Construction Company Limited) will be listed in stock exchanges.
67.
A new ETF with diversified CPSE (Central public sector enterprises) stocks and other Government holdings will be launched in 2017-18
68.
Lending target under Pradhan Mantri Mudra Yojana to be set at 2.44 lakh crores. Priority will be given to Dalits, Tribals, Backward Classes and Women.
69.
FRBM (Fiscal Responsibility and Budget Management) Committee has recommended 3% fiscal deficit for the next three years. Fiscal deficit for 2017-18 is targeted at 3.2% of GDP and Government remains committed to achieve 3% in the following year.
70.
No transaction above 3 lakh would be permitted in cash subject to certain exceptions.
71.
Maximum amount of cash donation, a political party can receive; will be 2,000 from one person. Political parties will be entitled to receive donations by cheque or digital mode from their donors.
72.
Amendment to the Reserve Bank of India Act to enable the issuance of electoral bonds in accordance with a scheme that the Government of India would frame in this regard.
73.
Existing rate of taxation for individual assesses between income of 2.5 lakhs to 5 lakhs reduced to 5% from the present rate of 10%
74.
The Finance Minister has also proposed to levy a surcharge of 10% of tax payable on those whose annual taxable income is between Rs. 50 lakh and Rs. 1 crore.
75.
The existing surcharge of 15% of tax on people earning more than Rs. 1 crore will continue.
76.
Income tax for companies with annual turnover up to Rs. 50 crore has been reduced to 25% from 30% in order to make Micro, Small and Medium Enterprises (MSME) companies more viable and also to encourage firms to migrate to a company format.
77.
Simple one-page form to be filed as Income Tax Return for the category of individuals having taxable income upto 5 lakhs other than business income
78.
Existing rebate for those earning Rs. 5 lakh or less will now be reduced to Rs. 2,500 and available only to those earning an income of up to Rs. 3.5 lakh.
79.
As per the advance estimates released by the Central Statistics Office, the growth rate of GDP at constant market prices for the year 2016-17 is placed at 7.1 per cent, as against 7.6 per cent in 2015-16.
80.
Indian economy may recover back to 6.75 per cent to 7.5 per cent in 2017-18.
81.
The average CPI inflation declined to 4.9 per cent in 2015-16 from 5.9 per cent in 2014-15 and stood at 4.8 per cent during April-December 2015
82.
Inflation based on Wholesale Price Index (WPI) declined to (-) 2.5 per cent in 2015-16 from 2.0 per cent in 2014-15 and averaged 2.9 per cent during April-December 2016.
83.
At end-September 2016, India’s external debt stock stood at US$ 484.3 billion
84.
Agriculture sector is estimated to grow at 4.1 per cent in 2016-17 as opposed to 1.2 per cent in 2015-16
85.
Growth rate of the industrial sector is estimated to moderate to 5.2 per cent in 2016-17 from 7.4 per cent in 2015-16.
86.
Service sector is estimated to grow at 8.9 per cent in 2016-17, almost the same as in 2015-16.
87.
The Fiscal Responsibility and Budget Management (FRBM) Committee, headed by former Revenue and Expenditure Secretary N.K. Singh
88.
General Anti-Avoidance Rules (GAAR) will be implemented from April 1.
89.
The Government has prepared an action plan to eliminate kala-Azar and filariasis by 2017, leprosy by 2018 and measles by 2020. Elimination of tuberculosis by 2025 is also targeted
90.
Finance Minister Arun Jaitley allocated Rs. 2,74,114 crore for defence which represents a 5.6% increase over the revised estimates of the present year.
91.
Finance Minister pegged the capital expenditure in 2017-18 at Rs 3.09 lakh crore, up 25.4 per cent from the Budget estimates of Rs 2.47 lakh crore for the current financial year.
Category/Tax Rate
0%
5%
20%
30%
General/ Ladies
Upto 2,50,000
2,50,001 - 5,00,000
5,00,001 - 10,00,000
More than 10,00,000
Senior citizen 60-80 years
Upto 3,00,000
3,00,001 - 5,00,000
5,00,001 - 10,00,000
More than 10,00,000<span style='color: #333333; font-family: "helvetica"