The Union Minister for Finance and Corporate Affairs, Arun Jaitley presented the Annual Union Budget for the year 2017. For the first time in history, the Union Budget 2017 is a consolidated outcome Budget including the Rail Bidget, covering all Ministries and Departments. Here is what you need to know about the Union Budget 2017.
Action plan to eliminate Kala-Azar and Filariasis by 2017, Leprosy by 2018 and Measles by 2020
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.
The Union Budget for Digital India
The Finance Minister said by the end of 2017-18, high-speed broadband connectivity on optical fibre will be available in more than 1,50,000 gram panchayats, with wifi hot spots and access to digital services at affordable rates. The budget for Bharat Net Project has been stepped up to Rs.10,000 crores in 2017-18. He pointed out that under the BharatNet Project, 1,55,000 kms of Optical Fib has already been laid. The Minister said that a ‘DigiGaon’ initiative will be launched to provide telemedicine, education and skills through digital technology.
A system of measuring Annual Learning Outcome will be introduced
For schools, flexibility in the curriculum to promote creativity through local innovative content with an emphasis on science education, and the introduction of a system for measuring annual learning outcomes is proposed.
Innovative Fund for secondary education to encourage local innovation
For higher education reforms in UGC and for secondary education, an Innovation Fund to encourage local innovation for ensuring universal access, gender parity and quality improvement with an initial focus on 3,479 educationally backward blocks are proposed.
National Housing Bank to refinance individual housing loans of Rs 20,000 crore in 2017-18
For the welfare of Women and Children under various schemes across all Ministries of the Union Government, Arun Jaitley in his budget speech today increased the allocation from Rs 1,56,528 crores in BE 2016-17 to Rs 1,84,632 crores in 2017-18.
IRCTC, IRFC and IRCON will be listed on stock exchanges.
Arun Jaitley said that the shares of Railway Public Sector Enterprises (PSEs) like IRCTC, IRFC and IRCON will be listed on stock exchanges. The Government will encourage strengthening the CPSEs through consolidation and mergers and acquisitions, and soon create an integrated public sector ‘oil major’, he added.
Article to be updated soon.
What’s new in the Union Budget 2017
Live Updates on the Union Budget 2017