Budget 2016-17: Key announcements for rural and social sector
Here are the key announcements made by Union Finance Minister Shri Arun Jaitley in his Budget speech 2016-17.
The Union Minister for Finance, Corporate Affairs and Information & Broadcasting, Arun Jaitley along with the Minister of State for Finance, Jayant Sinha arrives at Parliament House to present the General Budget 2016-17, in New Delhi on February 29, 2016.
Here are the key announcements made by Union Finance Minister Arun Jaitley in his Budget speech 2016-17 on rural and social sector.
1.Farmers’ income to be doubled by 2022.
28.5 lakh hectares will be brought under irrigation under Pradhan Mantri Krishi Sinchai Yojana.
89 irrigation projects, requiring Rs. 86,500 crore in next five years, to be fast tracked. 23 of these projects to be completed before March 31 next year.
Dedicated Long Term Irrigation Fund will be created in NABARD with initial corpus of Rs. 20,000 crore.
Total outlay on irrigation including market borrowings is Rs. 12,157 crore.
Major programme for Sustainable Groundwater Management proposed for multilateral funding at a cost of Rs.6,000 crore.
Five lakh farm ponds and dug wells in rainfed areas and 10 lakh compost pits for production of organic manure will be taken up.
Soil Health Cards will be given to 14 crore farm holdings by March next year.
2,000 model retail outlets of fertilizer companies with soil and seed testing facilities, will be opened in the next three years.
Unified Agricultural Marketing E-Platform to be dedicated to the nation on the birthday of Dr. B.R. Ambedkar on April 14.
- Rs. 27,000 crore including State’s share to be spent on PMGSY in 2016-17. Target date of completion of PMGSY advanced from 2021 to 2019.
- Rs. 9 lakh crore will be given as agricultural credit in 2016-17.
- FCI will undertake online procurement of food grains. This will bring transparency and convenience to farmers through prior registration and monitoring of procurement.
- Pashudhan Sanjeevani, an animal wellness programme, will be undertaken. Nakul Swasthya Patras to be issued.
- 2.87 lakh crore will be given as grant in aid to gram panchayats and municipalities as per the recommendations of the 14th finance commission. This translates to Rs.81 lakh per gram panchayat and over Rs. 21 crore per municipality.
Every block in drought and rural distress areas will be taken up under Deen Dayal Antyodaya Mission.
300 Rurban Clusters will incubate growth centres in rural area.
All villages will be electrified by May 1, 2018.
A new Digital Literacy Mission scheme will be launched for rural India to cover around six crore households in next three years.
Modernisation of land records through revamped National Land Records Programme.
Rashtriya Gram Swaraj Programme to be launched.
- Targeted delivery of government subsidies and benefits to ensure that they reach the poor and the deserving.
New law for targeted delivery of financial and other subsidies using Aadhaar framework will be enacted.
Direct benefit transfer ( DBT) in fertilizer will be launched on pilot basis.
Of the total 5.35 lakh fair price shops in the country, 3 lakh shops to be automated by March next year.
- MUDRA – Loan target of 1,80,000 crore in 2016-17.
9. Massive mission to provide LPG connection to poor households will be launched. 1.5 crore poor households will benefit in 2016-17.
The scheme will continue for two more years to cover a total of 5 crore below poverty line (BPL) households. LPG connection to be given in the name of the woman member of the family.
New health protection scheme will be launched. Health cover up to Rs. 1 lakh per family and additional Rs. 30,000 for senior citizens to be provided.
3000 stores under Prime Minister’s Jan Aushadhi Yojana will be opened in 2016-17.
National Dialysis Services Programme will be launched. Tax exemptions given to certain parts of dialysis equipments.
A new ecosystem for SC/ST entrepreneurs will be set up. SC/ST hub to be set up in MSME Ministry.
- 62 new Navaodaya Vidyalayas to be opened in remaining uncovered districts in next two years.
An enabling regulatory architecture will be provided to 10 public and 10 private institutions to emerge as world class teaching and research institutions.
Higher Education Financing Agency will be set up with an initial capital base of Rs. 1,000 crore.
Digital Depository will be set up for educational certificates, mark-sheets, awards etc.
- 1500 Multi skill training institutes will be set up under Pradhan Mantri Kaushal Vikas Yojana.
National Board for Skill Development Certification will be set up in partnership with industry and academia.
Entrepreneurship education and training will be provided in 2200 colleges, 300 schools, 500 government ITIs and 50 vocational training centres through open online courses.
- The government will pay EPF contribution of 8.33 percent for all new employees enrolling in EPFO for the first three years of employment. Applicable to those with salaries of Rs. 15,000 per month.
Section 80 JJAA of Income Tax Act being amended to broaden the scope of employment generation incentives.
Interlinking of state employment exchanges with national career service platform.
Small and medium shops to be permitted to remain open all 7-day a week on voluntary basis.
- Rs. 2,18,000 crore will be spent on capital expenditure of roads and railways in 2016-17. That includes: Rs. 27,000 crore for PMGSY.Big Wire
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