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Union Budget 2017

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Nehal Baradia

The Union Budget for 2017-18 was presented by Finance Minister Arun Jaitley on February 1st, 2017. This was the fourth budget under the Narendra Modi government. Key highlights included increased allocation for welfare of women and children to Rs. 1,84,632 crore, tax proposals, a focus on rural populations, infrastructure and railways, and support for agriculture and vulnerable groups.

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BBA2/BUDGET2017 BY-NEHAL BARADIA 1  The Union budget for 2017-18 was presented by Finance Minister Arun Jaitley in Lok Sabha on 1st February 2017 i.e on Wednesday.  This is the 4th budget by Narendra Modi Govt.  Jaitley also announced that the budget allocation for welfare of women & children under various ministries will be increased to Rs.1,84,632 crore.
 TAX PROPOSAL  RURAL POPULATION  DEFENSE  YOUTH  FUNDING OF POLITICAL PARTIES  DEMONITISATION  ENERGY SECTOR  FISCAL SITUATION  INFRASTRUCTURE & RAILWAYS  PERSONAL INCOME TAX  AGRICULTURE  FOR POOR &UNDERPRIVILGED PEOPLE CARE  FINANCIAL SECTOR BBA2/BUDGET2017 BY-NEHAL BARADIA 2
BBA2/BUDGET2017 BY-NEHAL BARADIA 3 INDIA’S TAX TO GDP RATIO IS NOT FAVOURABLE. PROPORTION Of DIRECT TO INDIRECT TAX IS NOT OPTIMAL. ONLY 1.72 LAKH INDIVIDUAL SHOWED INCOME MORE THAN 50 LAKH A YEAR. NET TAX REVENUE FOR 2013-14 WAS 11.38 LAKH CRORE. 1.95 CRORE INDIVIDUAL SHOWED INCOME BETWEEN RS.2.5 LAKH TO 5 LAKH.
 TARGET IS TO BRING 1 CRORE HOUSEHOLDS OUT OF POVERTY.  OVER 3 LAKH CRORE WILL BE SPENT FOR RURAL MGNREGA TO DOUBLE FARMERS’ INCOME.  PROPOSES TO COMPLETE 1 CRORE HOUSES FOR THOSE WIHOUT HOMES.  STEPS WILL BE TAKEN TO ENSURE WOMEN PARTICIPATION IN MGNREGA UPTO 55%. BBA2/BUDGET2017 BY-NEHAL BARADIA 4
DEFENSE SECTOR Defense Sector Gets An Allocation Of Rs.2.74,114 Crore. YOUTH SECTOR  Courses Of Foreign Languages Will be introduced.  Skill India Mission Will Setup 100 International Centres Across Country.  Steps To Be Taken To Create 5000 PG seats Per Annum. BBA2/BUDGET2017 BY-NEHAL BARADIA 5
 The max. amount of donation to be given to any political party will be Rs. 2000 from any of the sources.  Parties will be entitled to recieve donations by Cheque or Digital Mode from doners.  An amendment is being proposed to the RBI Act to enable issuance of electoral bonds. BBA2/BUDGET2017 BY-NEHAL BARADIA 6
BBA2/BUDGET2017 BY-NEHAL BARADIA 7  VFNJHVHHFH  Demonitisation is expected to have a transient impact on the economy.  Will have great impact on people and their lives.  Will lead to higher GDP growth.  It’s effects will no spillover to the next fiscal.    A strategic policy for crude reserves will be  set up.  Rs. 1,26,000 crore received as energy production based investment.  Trade infra export schemes will be launched. ENERGY
 Total expenditure is Rs. 2,147,000 crore.  Plan ,non-planned expenditure to be abolished.  Focus will be on Capital Expenditure which will be 25.4%.  Total resources transferred to States and Union Territories is Rs.4.11lakh crore.  Revenue deficit is 1.9%.  Expenditure for Science And Technology is Rs. 37,435 crore. BBA2/BUDGET2017 BY-NEHAL BARADIA 8
 A total allocation of Rs. 39,61,354 crore has been made for Infrastructue.  Total allocation of Rs.1,31,000 crore has been made for Railways.  No service charge for tickets booked through IRCTC.  Rs. 64,000 crore allocated for highways.  Unmanned level crossings will be eliminated by 2020.  By 2019 all trains will bio-toilets. BBA2/BUDGET2017 BY-NEHAL BARADIA 9
 No tax to be charged on income till Rs.2.5 lakh.  Rs.2.5 lakh-5 lakh – reduced to 5% from 10%.  Rs.5 lakh to Rs. 10 lakh- 20%.  Over Rs. 10 lakh- 30%.  10% surcharge on individual income above Rs.50lakh and upto 1 crore.  15% surcharge on individual income above Rs.1 crore. BBA2/BUDGET2017 BY-NEHAL BARADIA 10
 NABARD fund will be increased to Rs.40,000 crore.  Mini labs will be set up in Krishi Vigyan Kendras for soil testing.  Rs.10 lakhs – credit given to farmers ,60 days interest waiver.  Irrigation corpus increased from Rs.20,000 crore to Rs. 40,000 crore.  Dairy processing infrastructure will be initially funded with Rs. 2000 crore. BBA2/BUDGET2017 BY-NEHAL BARADIA 11
 Rs.5,000 crore – Mahila Shakti Kendras.  Rs.1,84,632 crore – for women & children.  Rs.52,393 crore – for Scheduled Castes.  Two AIIMS will be set up in Jharkhand & Gujarat.  Rs.6,000 – for pregnant women.  Banks have started reducing lending rates due to owin liquidity. BBA2/BUDGET2017 BY-NEHAL BARADIA 12
 FDI policy reform- more than 90% of FDI inflows now automated.  Shares of railway PSE like IRCTC will be listed on stock exchanges.  Foreign Investment Promotion Board (FIPB) will be abolished.  Pradhan Mantri Mudra Yojana lending target fixed at Rs.2.44 lakh for 2017-18.  Digital India-BHIM App will leash mobile phone revolution. BBA2/BUDGET2017 BY-NEHAL BARADIA 13
BBA2/BUDGET2017 BY-NEHAL BARADIA 14

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Union Budget 2017

  • 1. BBA2/BUDGET2017 BY-NEHAL BARADIA 1  The Union budget for 2017-18 was presented by Finance Minister Arun Jaitley in Lok Sabha on 1st February 2017 i.e on Wednesday.  This is the 4th budget by Narendra Modi Govt.  Jaitley also announced that the budget allocation for welfare of women & children under various ministries will be increased to Rs.1,84,632 crore.
  • 2.  TAX PROPOSAL  RURAL POPULATION  DEFENSE  YOUTH  FUNDING OF POLITICAL PARTIES  DEMONITISATION  ENERGY SECTOR  FISCAL SITUATION  INFRASTRUCTURE & RAILWAYS  PERSONAL INCOME TAX  AGRICULTURE  FOR POOR &UNDERPRIVILGED PEOPLE CARE  FINANCIAL SECTOR BBA2/BUDGET2017 BY-NEHAL BARADIA 2
  • 3. BBA2/BUDGET2017 BY-NEHAL BARADIA 3 INDIA’S TAX TO GDP RATIO IS NOT FAVOURABLE. PROPORTION Of DIRECT TO INDIRECT TAX IS NOT OPTIMAL. ONLY 1.72 LAKH INDIVIDUAL SHOWED INCOME MORE THAN 50 LAKH A YEAR. NET TAX REVENUE FOR 2013-14 WAS 11.38 LAKH CRORE. 1.95 CRORE INDIVIDUAL SHOWED INCOME BETWEEN RS.2.5 LAKH TO 5 LAKH.
  • 4.  TARGET IS TO BRING 1 CRORE HOUSEHOLDS OUT OF POVERTY.  OVER 3 LAKH CRORE WILL BE SPENT FOR RURAL MGNREGA TO DOUBLE FARMERS’ INCOME.  PROPOSES TO COMPLETE 1 CRORE HOUSES FOR THOSE WIHOUT HOMES.  STEPS WILL BE TAKEN TO ENSURE WOMEN PARTICIPATION IN MGNREGA UPTO 55%. BBA2/BUDGET2017 BY-NEHAL BARADIA 4
  • 5. DEFENSE SECTOR Defense Sector Gets An Allocation Of Rs.2.74,114 Crore. YOUTH SECTOR  Courses Of Foreign Languages Will be introduced.  Skill India Mission Will Setup 100 International Centres Across Country.  Steps To Be Taken To Create 5000 PG seats Per Annum. BBA2/BUDGET2017 BY-NEHAL BARADIA 5
  • 6.  The max. amount of donation to be given to any political party will be Rs. 2000 from any of the sources.  Parties will be entitled to recieve donations by Cheque or Digital Mode from doners.  An amendment is being proposed to the RBI Act to enable issuance of electoral bonds. BBA2/BUDGET2017 BY-NEHAL BARADIA 6
  • 7. BBA2/BUDGET2017 BY-NEHAL BARADIA 7  VFNJHVHHFH  Demonitisation is expected to have a transient impact on the economy.  Will have great impact on people and their lives.  Will lead to higher GDP growth.  It’s effects will no spillover to the next fiscal.    A strategic policy for crude reserves will be  set up.  Rs. 1,26,000 crore received as energy production based investment.  Trade infra export schemes will be launched. ENERGY
  • 8.  Total expenditure is Rs. 2,147,000 crore.  Plan ,non-planned expenditure to be abolished.  Focus will be on Capital Expenditure which will be 25.4%.  Total resources transferred to States and Union Territories is Rs.4.11lakh crore.  Revenue deficit is 1.9%.  Expenditure for Science And Technology is Rs. 37,435 crore. BBA2/BUDGET2017 BY-NEHAL BARADIA 8
  • 9.  A total allocation of Rs. 39,61,354 crore has been made for Infrastructue.  Total allocation of Rs.1,31,000 crore has been made for Railways.  No service charge for tickets booked through IRCTC.  Rs. 64,000 crore allocated for highways.  Unmanned level crossings will be eliminated by 2020.  By 2019 all trains will bio-toilets. BBA2/BUDGET2017 BY-NEHAL BARADIA 9
  • 10.  No tax to be charged on income till Rs.2.5 lakh.  Rs.2.5 lakh-5 lakh – reduced to 5% from 10%.  Rs.5 lakh to Rs. 10 lakh- 20%.  Over Rs. 10 lakh- 30%.  10% surcharge on individual income above Rs.50lakh and upto 1 crore.  15% surcharge on individual income above Rs.1 crore. BBA2/BUDGET2017 BY-NEHAL BARADIA 10
  • 11.  NABARD fund will be increased to Rs.40,000 crore.  Mini labs will be set up in Krishi Vigyan Kendras for soil testing.  Rs.10 lakhs – credit given to farmers ,60 days interest waiver.  Irrigation corpus increased from Rs.20,000 crore to Rs. 40,000 crore.  Dairy processing infrastructure will be initially funded with Rs. 2000 crore. BBA2/BUDGET2017 BY-NEHAL BARADIA 11
  • 12.  Rs.5,000 crore – Mahila Shakti Kendras.  Rs.1,84,632 crore – for women & children.  Rs.52,393 crore – for Scheduled Castes.  Two AIIMS will be set up in Jharkhand & Gujarat.  Rs.6,000 – for pregnant women.  Banks have started reducing lending rates due to owin liquidity. BBA2/BUDGET2017 BY-NEHAL BARADIA 12
  • 13.  FDI policy reform- more than 90% of FDI inflows now automated.  Shares of railway PSE like IRCTC will be listed on stock exchanges.  Foreign Investment Promotion Board (FIPB) will be abolished.  Pradhan Mantri Mudra Yojana lending target fixed at Rs.2.44 lakh for 2017-18.  Digital India-BHIM App will leash mobile phone revolution. BBA2/BUDGET2017 BY-NEHAL BARADIA 13