Union Budget Highlights

Union Budget Highlights
Indian economy is in a far better position than nine months ago.
Foodgrains production and rising food inflation are cause of concern.
GST being finalised along with modalities for implementation.
The three challenges before the government are focus on inclusive growth, development of rural infrastructure and the removal of bottlenecks in public delivery system.
To improve investment climate FDI policy to be made user friendly.
Three hundred crore rupees earmarked for water management and
dryland farming.
A four-pronged strategy to boost agriculture - green revolution in eastern region, credit support, support to the food processing and reduction of middlemen between farmers and consumers.
Five more mega food parks to be set up in addition to existing ten such parks.1,73,552 crore rupees earmarked for infrastructure sector. This is
more than 46 per cent of the total plan allocation.New mega power project policy in place to reduce cost of production.The allocation for the sector doubled to 5,130 crore rupees.Emphasis on new and renewable energy plan outlay increased by 61
per cent.

Rajiv Gandhi Yojana for slums to be provided 1,270 crore rupees.
The budget for National Ganga River Authority doubled.
A 20 per cent increase in allocation for health and family welfare and
school education.Thrust on rural development, additional 48,000 crore rupees
earmarked for Bharat Nirman.
Financial Sector Legislative Reforms Commission to be set up.
Coal regulating authority to be set up.
Budget allocation for Delhi-Mumbai Freight corridor increased by 13
per cent.
Thousand crore rupees for Jawaharlal Nehru National Solar Mission.
Eight point six per cent increase in the proposed expenditure. This
includes 15 per cent in plan expenditure and 6 per cent in non-pan.
National Mission for Delivery of Justice and judicial reforms to be set
up.
Thousand crore rupees corpus for Swasthya Bima Yojana.
No change in the Income Tax exemption limit Relief in all three slabs; Additional Tax saving of 20,000 rupees for investment in infrastructure bonds
Central Excise duty hiked by 2 per cent on non-petroleum products
and one rupee per litre on petrol and diesel
National Social Security Fund for unorganized sector
Concession to pending housing projects
Higher allocation to education, health, urban development, defence
and Minorities and Women Special scheme for women farmers Exemption of service tax for transportation of cereals and pulses by road Gold and Silver to cost more, Rodium to cost less Large cars, multi-utility vehicles and sports utility vehicles to cost more.
Smokers and tobacco chewers to pay more
No change in Service Tax rate; net widened
More credit support to farmers