Jaitley says Budget focus on welfare, infrastructure with fiscal prudence: Highlights

NEW DELHI: Brushing aside doubt in the wake of death of a sitting member, Finance Minister Arun Jaitley today started the presentation Union Budget for 2017-18 as scheduled at 11 am. Highlights of the Union budget for 2017-18 presented by Finance Minister Arun Jaitley:

• Total infra outlay pegged at over Rs 390,000 crore
• Solar plan phase 2 to add 20,000 MW capacity
• Road sector allocation at Rs 64,000 crore
• Rs 500 cr allocated to set up Mahila Shakti Kendras; Allocation raised from Rs 1.56 lakh crore to Rs 1.84 lakh crore for women and child welfare.
• Charges for e-booking of railway tickets through IRCTC withdrawn
• Two new AIIMS for Jharkhand and Gujarat
• National testing agency to conduct entrance exams for higher education
• Affordable housing to get infrastructure status to avail benefits
• Five special purpose vehicles for tourism sector
• Drought proofing of Gram Panchayats via construction of five lakh ponds across India: Jaitley
• Finance Minister Arun Jaitley on said Indian Railways' autonomy would be maintained even after its budget was merged with the Union Budget 2017-18.
• Rural, agriculture and allied sectors' allocations up 24% to Rs 187,223 crore
• 100% village electrification will be achieved by May 1,2018
• National Housing Bank will refinance indiviual loans worth Rs 20,000 cr in 2017-18
• 1.5 lakh health sub centres to be converted to Health Wellness Centre
• One crore houses for poor by 2019
• Agricultural credit target fixed at Rs 10 lakh crore
• Agriculture expected to grow at 4.1% in current year MGNREGA allocation raised to RS 48,000 crore
• Firmly believe that GST, demonetisation, built on JAM, will have an epoch-making impact on the lives of our people
• Demonetisation aims to create a new normal, where the GDP would be bigger, cleaner and real
• Recalls #MahatmaGandhi's words: A right cause never fails
• 3 challenges in current global scenario:Monetary stance of US FED Reserve, Commodity prices specially crude oil & retreat from globalisation
• We have moved from a discretionary administration to a policy-based administration
• Expectations included burning issues like inflation and price rise, issue of corruption & crony capitalism
• Our government was elected amidst huge expectations of people, the underlying theme of expectations being good governance
• Hope to resolve all issues regarding GST via consultations
• We are moving from informal to formal economy & the Government is now seen as a trusted custodian of public money