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Indian Union Budget 2018 Non-Tax Proposals
AGRICULTURE
Macro Highlights: Agriculture
11 lac crore to be pumped into farming sector next fiscal year
Minimum Selling Price (“MSP”) for the Kharif Crops has been set at 1.5
times the production costs.
The government shall make sure that the farmers will get adequate price
for their produce. Niti Ayog, in consultation with Central and State
Governments, will put in place a fool-proof mechanism to make sure that
adequate price is given to the farmers.
Agricultural market and infra fund of INR 2000 crore fund will be set up
to strengthen the market connectivity.
A sum of INR 500 crore will be allocated for Operation Green to be
launched. It will promote agricultural products.
Macro Highlights: Agriculture
Agricultural credit target increased from INR 8.5 lakh crore in 2014-15 to
INR 11 lakh crore.
Propose to launch a restructured bamboo mission with a fund of Rs 1290
crore - "Bamboo is green gold,"
Section 80P of the Income-tax Act, 1961 provides for 100 percent
deduction in respect of profit of cooperative society which provide
assistance to its members engaged in primary agricultural activities.
INR 10,000 crore set aside for Fisheries and Aqua culture Development
Fund
RURAL ECONOMY
Macro Highlights: Rural Economy
8 crore poor women will get new LPG connections
Pradhan Mantri Saubhagya Yojana: 4 crore poor people will get power
connection.
Govt plans to construct 2 crore toilets in next fiscal year under Swach
Bharat Mission
Government targets house for all by 2022. 51 lakh affordable houses have
been constructed in rural and further 37 lakh houses in urban areas.
1 crore houses to be built under Pradhan Mantri Awas Yojana in rural
areas.
Government gives Rs 9,975 crore for social security schemes for the next
fiscal year
EDUCATION
Macro Highlights: Education
INR 1 lakh crore allocated to revitalisation and upgradation of education
sector. Promoting learning based outcomes and research.
By 2022, every block with more than 50% ST population and at least
20,000 tribal persons will have Ekalvya schools at par with Navodaya
Vidyalaya.
Aims to move from black board to digital board schools by 2022.
Government will identify 1000 B-tech students each year and provide
them to do PHDs in IIT and IISc, while also teaching undergraduate
students once a week at that time.
HEALTH
Macro Highlights: Health
Ayushman Bharat programme: 1.5 lakh centres will be set up to provide
health facilities closer to home. INR 1,200 crore to be allocated for this
programme
Flagship National Healthcare protection scheme will cover
approximately 50 crore beneficiaries. Up to INR 5 lakh per family per year
for secondary and tertiary care hospitalisation. It would be the World's
largest government-funded healthcare programme.
INR 600 crore allocated for tuberculosis patients, at the rate of INR 500
per month during the course of their treatment.
Setting up of one medical college for every three parliamentary
constituencies, with 24 New government medical colleges also being
envisioned
SOCIAL SECURITY
Macro Highlights: Social Security
Pradhan Mantri Jivan Jyoti Bima Yojana has benefited 5.22 crore
families.
Government will expand Pradhan Mantri Jan Dhan Yojana: All 16 crore
accounts will be included under micro insurance and pension schemes
1.26 crore accounts opened under Sukanya Samriddhi Scheme
Social inclusion schemes for Scheduled Castes - INR 52,719 crore in 2017-
18 from INR 34,334 crore in 2016-17
Social inclusion schemes for Scheduled Tribes- INR 32,508 crore in 2017-
18 from INR 21,811 crores in 2016-17
INFRASTRUCTURE
Macro Highlights: Infrastructure
Construction of new tunnel in Sela Pass to promote tourism
Out of 100 smart cities 99 cities have been selected, with an outlay of INR
2.04 lakh crore
10 prominent tourist sites will be made iconic tourist destinations, with an
amalgamation of private funding, marketing and branding
Bharatmala project: To develop 35,000 KM under phase 1 with an outlay
of INR 5.35 lakh crore
RAILWAYS
Macro Highlights: Railways
Railway capex has been pegged at INR 1.48 lakh crore from INR 1.31 lakh
crore in the last year
All stations with footfall of greater than 25,000 will have escalators.
Govt to eliminate 4267 unmanned rail crossing in broad gauge in 2 years
Allocates INR 11,000 crore Mumbai rail network and INR 17,000 crore for
the Bengaluru metro
150 km of additional suburban railway networks to be set up in
Bengaluru at the cost of INR 17,000 crores.
CUSTOM
Macro Highlights: Custom
Customs Duty on various products have been increased on various
goods. Some of which are enlisted below-
Fruit and Vegetable Juices – From 30% to 50%.
Perfumes, etc. – From 10% to 20%.
Mobile Phones – From 15% to 20%.
LCDs/LEDs – From 7.5%/10% to 15%
Watches and Clocks - From 10% to 20%
Social welfare surcharge at 10% imposed on imported goods
Central Board of Excise and Customs (“CBEC”) renamed as Central Board
of Indirect Taxes and Customs (“CBIC”)
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