Budget 2016: Indian economy held ground amid slow global growth, says Jaitley

Submitted by alvin on Mon, 2016-02-29 13:05 New Delhi: Presenting the 2016-17 Annual Budget, Finance Minister Arun Jaitley on Monday said that amidst slowdown in global growth and trade, the Indian economy has held its ground firmly. Jaitley listed out the nine pillars on which the Budget stands, which mainly are: farmer welfare, rural sector, social sector, education skills, infrastructure, financial reforms, ease of doing business, fiscal discipline and tax reform. Here are the highlights from the Budget rollout by the Finance Minister: 1. The growth of GDP has accelerated to 7.6�Jaitley 2. CPI inflation has declined to 5.4�Jaitley 3. Forex Reserves have reached their highest mark at $350 billion: Jaitley 4. Government has to prioritize expenditure. Focus on the rural and social sectors, infrastructure and recapitalization of banks: Jaitley 5. Nominal premium and highest ever compensation in case of crop loss under the PM Fasal Bima Yojana: Jaitley 6. Agenda for next year is to undertake transformative measures based on 9 pillars for India: Jaitley 7. Aim to double the income of farmers in five years. Rs. 35,984 crores total allocation for farmers' welfare: Jaitley 8. Pradhanmantri Krishi Sinchaai Yojna strengthened and implemented in Mission Mode: Jaitley 9. A dedicated irrigation fund worth Rs 20,000 crore to be set up under National Bank for Agriculture and Rural Development: Jaitley 10. A unified agriculture market e-platform will be dedicated to the nation on the birthday of Dr. B.R. Ambedkar: Jaitley 11. 65 eligible habitats to be connected via 2.23 lakh kms of road.Current construction pace is 100 kms per day: Jaitley 12. Allocation to PM Fasal Bima Yojana for 2016/17 is Rs. 5500 crores: Jaitley 13. Quantum jump of 228�n grants to gram panchayats and urban local bodies in accordance with FFC recommendations: Jaitley 14. 100 village electrification to be achieved by 1st May, 2018: Jaitley 15. MNREGA to get 38,500 crore rupees: Jaitley 16. Rs. 87,765 crores for rural development as a whole have been allocated in the budget: Jaitley 17. We plan to launch digital literacy mission scheme for rural India to cover around 6 crore additional households in next three years: Jaitley 18. 100 �illage electrification to be achieved by 1st May, 2018: Jaitley 19. Appreciation for 75 lakh Middle class and lower middle class for willingly giving up LPG Subsidy under government's initiative: Jaitley 20. Rs 9,000 crores allocated to Swaccha Bharat Abhiyaan: Jaitley 21. Stand Up India scheme allocated Rs.500 Crores for SC, ST and women entrepreneurs-2 projects to be promoted per bank branch per category: Jaitley 22. National Skill Development Mission has imparted training to 76 lakh youth. 1500 Multi skill training institutes to be set up: Jaitley 23. National SC/ST Hub to support SC/ST entrepreneurs: Jaitley 24. Senior citizens will get additional healthcare cover of Rs 30,000 under the new scheme: Jaitley 25. Objective to skill 1 crore youth in the next 3 years under the PM Kaushal Vikas Yojana: Jaitley 26. Allocate Rs55,000 Crores for roads and highways, total investment in Road Sector would be Rs97,000 crore: Jaitley 27. I have proposed to allocate a sum of Rs 55000 crore in Union Budget for roads and highways: Jaitley 28. Rs. 1000 cr set aside for higher education financing: Jaitley 29. Government to incentivise Gas production from deep sea and other unutilised deep sources: Jaitley 30. Govt is drawing a comprehensive plan to be implemented in the next 15-20 years for exploiting Nuclear energy: Jaitley 31. Comprehensive Code to be introduced to provide a specialised resolution mechanism for bankruptcy of banks/insurance companies: Jailtey 32. Department of Disinvestment to be renamed as Department of Investment and Public Asset Management: Jaitley 33. RBI Act to be amended to give statutory backing for monetary policy: Jaitley 34. Public Money should reach the poor and deserving without any leakage: Jaitley This is a developing listable. More details to follow. (ANI)