Highlights of Union Budget 2018

Thursday, 1 February 2018

Highlights of the Union Budget for 2018-19 presented in the Lok Sabha by Finance Minister Arun Jaitly on Thursday:

- Government plans to construct two crore more toilets under Swachh Bharat Mission

- Rs 7,148 crore outlay for textile sector in 2018-19

- One government medical college to be ensured for every three parliamentary constituencies by upgrading 24 district-level colleges

- Hard work of farmers resulted in a record production of more than 275 million tonnes of foodgrain and about 300 million tonnes of horticultural produce

- Not only focussing on 'Ease of Doing Business' but also 'Ease of Living'

- 70 lakh formal jobs have been created this year. Government will contribute 12 per cent of the wages as EPF in all sectors for the next three years

- Mass formalisation of MSME sector is happening after demonetisation and GST

- Have decided to take healthcare protection to a new aspirational level. Launching a flagship National Health Protection Scheme to cover 10 crore poor and vulnerable families, benefiting approximately 50 crore people

- Providing Rs 5 lakh per family per year for medical reimbursement, under National Health Protection Scheme. This will be world's largest health protection scheme

- Government is slowly but steadily progressing towards universal health coverage

- Air pollution in Delhi NCR is a cause for concern; special scheme will be implemented to support Haryana, Punjab, UP and Delhi NCT to address this and subsidise machinery for management of crop residue

- Scheme for revitalising school infrastructure, with an allocation of Rs 1 lakh crore over four years. Called RISE - Revitalizing Infrastructure in School Education

- Eklavya schools to be started for Scheduled Tribe population

- By 2022, every block with more than 50 per cent ST population and at least 20,000 tribal people will have 'Ekalavya' school at par with Navodaya Vidyalas

- Integrated B.Ed programme to be initiated for teachers to improve quality of teachers

- India is firmly on path to achieve 8 per cent plus growth

- Propose to raise institutional credit for agriculture to Rs 11 lakh Crore for 2018-19

- Rs 14.34 lakh crore to be spent for rural infrastructure

- Eight crore free gas connections to women under UJJWALA and 4 crore electricity connections to the poor under Saubhagya Yojana

- Fishery and Aquaculture Infrastructure Development Fund and Animal Husbandry Infrastructure Fund to be set up with corpus of Rs 10,000 crore

- Restructured National Bamboo Mission to be launched with allocation of Rs 1,290 crore to promote sector in a holistic manner

- Rs 500 crore for Operation Green

- Agri-Market Development Fund with a corpus of 2000 crore to be set up for developing agricultural markets

- 470 APMCs have been connected to #eNAM network, the rest to be connected by March 2018

- Minimum Support Price of all crops shall be increased to at least 1.5 times that of the production cost

- From ease of doing business, government has moved to ease of living for the poor and middle class

- Allocation in for Ministry of Food Processing is being doubled; specialised agro-processing and financial institutions to be promoted by the government

- India now a $2.5 trillion economy and firmly on path to achieve 8% plus growth soon

- Will focus on agriculture and rural economy, health, infra, senior citizens

- Hope to grow at 7.2 per cent-7.5 per cent in the second half of 2017-18

- Allocating natural resources in a more transparent manner, there is a premium on honesty now

- Government led by PM Modi has implemented a series of fundamental structural reforms

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