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Finance Minister Arun Jaitley on February 29, 2016 provided relief to small tax payers and nudged the affluent to shell out more while focusing on the rural economy with much higher fiscal outlays, as he presented India's national budget for 2016-17 in the Lok Sabha.
In This Pic : Arun Jaitley
Pic Courtesy : PTI
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Budget 2016 gives overall push to agriculture, rural development and social sector:
The government aims to double farmers' income in 5 years. As much as Rs 35,984 crores has been allocated for their welfare. About 5 lakh acres will be be brought under organic farming over three years. Nominal premium and highest ever compensation has been announced in case of crop loss under the PM Fasal Bima Yojana.
The government aims to double farmers' income in 5 years. As much as Rs 35,984 crores has been allocated for their welfare. About 5 lakh acres will be be brought under organic farming over three years. Nominal premium and highest ever compensation has been announced in case of crop loss under the PM Fasal Bima Yojana.
In This Pic : Budget 2016
Pic Courtesy : PTI
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One of the most significant things in Budget 2016 is the massive push to enhance irrigation:
A dedicated irrigation fund worth Rs 20,000 crores to be set up under NABARD. Now, there is a determined move to complete all programs within a specified period and monies have been allotted for that.
A dedicated irrigation fund worth Rs 20,000 crores to be set up under NABARD. Now, there is a determined move to complete all programs within a specified period and monies have been allotted for that.
In This Pic : Budget 2016
Pic Courtesy : BCCL
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Budget 2016 calls for a huge push in public investment in roads, in both the rural and urban areas:
85 per cent of stalled road projects are back on track; 65 eligible habitats are to be connected via 2.23 lakh kms of road. The current construction pace is 100 km per day. Allocation of Pradhanmatri Gram Sadak Yojna is to be increased to Rs 19,000 crores and Rs 97,000 crores has been allocated to the road sector including PMGSY.
85 per cent of stalled road projects are back on track; 65 eligible habitats are to be connected via 2.23 lakh kms of road. The current construction pace is 100 km per day. Allocation of Pradhanmatri Gram Sadak Yojna is to be increased to Rs 19,000 crores and Rs 97,000 crores has been allocated to the road sector including PMGSY.
In This Pic : Budget 2016
Pic Courtesy : BCCL
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Railways given more funds in Budget 2016. The sector has been allocated Rs 1,21,000 crores.
In This Pic : Budget 2016
Pic Courtesy : BCCL
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