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8 Important Things To Know About The Budget 2017
The financial year is about to end and Mr. Arun Jaitley, Minister of Finance, has already introduced the 3rd budget (Budget 2017 )backed by the Modi Government for the year 2017-2018.
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This year the main agenda of the budget is to transform India digitally, energise the youth and clean India in order to get rid of black money. Demonetisation was definitely one bold step that PM Narendra Modi took and a reward has certainly been reflected in the budget as well. The integration of the railway and the union budget is another historic step that was taken by the Modi Government. Here are 8 things that you must know about the budget:
#1 Farmers are the Rulers
Mr. Jaitley said that in the next five years they are committed to double the income earned by the farmers. A modern law on contract farming will be drafted for the farmers and distributed in all the states.
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#2 Urbanization for the Rural Population
Approximately one crore houses will be provided to the homeless. Also safe drinking water will be provided to arsenic and fluoride affected habitations.
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#3 Enlivening the Youth
It will be easier to bag opportunities abroad as the government will set up International Skill Centers. Also, an annual learning outcome system will be set up in schools.
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#4 For digital transformation
SWAYAM (virtual learning platform) has been launched
#5 Welfare for senior citizens, women and children
Aadhar based smart cards with health details to be provided to senior citizens. Sabka Saath, Sabka Vikas begins with women and so Rs. 1.84 lakh crores has been allotted for the welfare and development of women and children.
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Railway lines are going to expand. Service charge on tickets to be withdrawn. Budget for highways increased. Also, Jaipur and Delhi will gain access to solid waste management plants.
#7 Taxes have been waived
Individuals who earn between 2.5 lakh and 5 lakh will now pay only 5% for tax. Those who earn between 50 lakh and I crore have to pay a surcharge of 10%.
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#8 Political defund
Political Parties can only get Rs. 2000 in the form of donations and can only be received in the form of cheques or digitally.
GST is happening and it will be out on 1st July.
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