Finance Minister Arun Jaitely presented the Union Budget 2016-17 in the Lok Sabha. Have a look at the Highlights budget 2016:
* Inflation has come down even though there was a fall in monsoons.
* 160 airports and airstrips would be revived at a cost of Rs 50-100 crore each, says Jaitley.
* 2,000 kilometers of state highways would be converted into national highways.
* Government has allocated Rs 55,000 crore for roads and highways.
* Rs 8000 crore provided for Sagarmala project.
* Government has to prioritize expenditure. Focus on the rural and social sectors, infrastructure and recapitalization of bank.
* Aim to double the income of farmers in five years. Rs 35,984 crores total allocation for farmers’ welfare.
* 5 lakh acres to be brought under organic farming over three years.
* At least one crore youth would be skilled over next three years.
* 62 new Navodaya vidyalayas to be opened in next two years.
* 3,500 medical stores would be opened under Pradhan Mantri Jan Aushodi Yojana to make quality medicine available.
* Rs 1000 cr provided for LPG connection to rural households in name of women; scheme to go on for 2 years to cover 5cr BPL households.
* 5,542 of 18,542 unelectrified villages have been electrified; govt committed to achieving 100 per cent electrification of illages by May 2018.
* Rs 87,765 cr has been allocated for rural development.
* Government would develop 300 ‘rurban’ clusters.
* Rs 850 crore has been allocated for animal husbandry, cattle and livestock breeding.
* A record agricultural credit target of Rs 9 lakh crore in 2016-17 has been set. Rs 60,000 crore for recharging of ground water recharging is also in the pipeline.
* “We must continue with the pace of economic reforms and policy initiatives to change the lives of our people for the better,” says Jaitley.
