Budget 2016-17

FM Jaitely- Budget 2016 built on 9 pillers

1. Agri/Farm and welfare
2. Rural Focus
3. Social healthcare
4. Education and Job creation
5. Investments to improve quality of life
6. Infrastructure Focus
7. Ease of Business
8. Fiscal discipline
9. Tax Reforms 

• A dedicated irrigation fund worth Rs.20,000 crore to be set up under NABARD: FM(Finance Minister) National Bank for Agriculture and Rural Development.
• FM; Rs. 35,984 crore allocated for Agriculture in 2016-17.
• RS.19000 crore allocated for PMGSY(Pradhan Mantri Gram Sadak Yojana): FM 
• Soil health card scheme to be implemented with greater vigour, all 14,000 crore farms to be included under it by 2017:FM
• A unified agriculture platform to be dedicated to the nation on the birth anniversary of BR Ambedkar :FM
• To provide statutory backing to Aadhar : FM
• Arrangements made for pulses procurement : FM
• Special focus has been given on timely credit to Farmers : FM
• 2.87 lakh crore grants to gram panchayats and municipalities - a quantum jump of  228 % : FM

 

• Rural electrification : 5542 villages in Feb 2016, more than total combined achievement of previous three years : FM
• Rs. 60,000 crore for recharging of ground water recharging : FM
• 90% of domestic honey is now exported : FM
• FM: Appreciation for 75 lakh middle class and lower middle class for willingly giving up LPG Subsidy.
• Nonfunctional airports will be developed, will work with states to ensure this:FM
• Shopping malls to be allowed to open on all  7 days of week. A model shops & establishment bill to be circulated to states: FM
• Rs. 25,000 crore for recapitalization of public sector banks: FM
• RS. 55,000 crore allotted for roads and highways :FM

• To hike excise duty on Tobacco : FM
• Clean energy cess increased from Rs. 200/ton to Rs.400/ton on coal, lignite and peat : FM
• Rs. 25,000 crore towards recapitalization of public sector banks: FM
• Committed to provide a stable and predictable taxation regime :FM
• An increased allocation of Rs. 1,80,000 crore under PM Mudra Yojana : FM
• 1% tax on luxury goods and cars : FM
• Levy of heavy penalty for non payment of tax has led to high litigation. Proposal to modify scheme for penalties :FM