Majorfocus on agriculture and farmers’ welfare, - Mission to provide LPG connection to poor households,
- New health protection scheme, increased outlay for infrastructure,
- 2.87 Lakh crore Grant in Aid to Gram Panchayats and Municipalities.
- Setting up of 1500 Multi Skill Training Institutes and incentives for jobs creation.
- Fiscal deficit pegged as per FRBM road map at 3.5% for FY 2016- 17.
- India is in a ‘bright spot’; GDP to be up at 7.6% this fiscal year compared 6.3% last year.
- Current Account deficit fell to $18.4 billion in the first half of last year $ 14.4 billion this year.
- Additional burden due to 7th Central Pay Commission
- Implementation of Defence OROP
- Pradhan Mantri Fasal BimaYojana has already been announced.
- Health insurance scheme announced
- All BPL families to get subsidized cooking gas connection.
- A law to ensure that Govt benefits go to deserving persons using AADHAR platform.
- Legislations to free transport from constraints & restrictions. Permits to be abolished.
- Incentivizing gas discovery and exploration.
- Comprehensive law for resolution of financial firms
- Legal framework for dispute resolution in PPP projects.
- Public listing of general insurance companies
- FDI policy liberalized, 100 per cent FDI in food processing.
- Government to double farm and non-farm rural income by 2022.
- Total allocation for Agriculture and farmers’ Welfare is Rs. 35,984 crore
- Pradhan MantriKrishiSinchaiYojana to implement in mission mode
- 5 lakh hectares will be brought under irrigation under this Scheme
- Implementation of 89 irrigation projects under AIBP
- Long Term Irrigation Fund in NABARD with an initial corpus of about Rs. 20,000 crore.
- Ground water resources development to get 6,000 crore
- 5 lakh farm ponds to be dug in rain fed areas
- 10 lakh compost pits for production of organic manure will be taken up under MGNREGA.
- Soil Health Card Scheme to cover all 14 crore farm holdings by March 2017
- 2,000 model retail outlets of fertilizer companies for soil & seed testing facilities
- Pradhan Mantri Gram SadakYojana increased to Rs. 19,000 crore
- Farm credit up at Rs. 9 lakh crore for 2016-17.
- 15,000 crore in the BE 2016-17 towards interest subvention for farm loans
- Prime Minister FasalBimaYojana to get Rs. 5,500 crore in 2016-17.
- Animal Health Cards (‘NakulSwasthyaPatra’) proposed
- Creation of ‘E-PashudhanHaat’, an e market portal for connecting breeders and farmers
- A National Genomic Centre for indigenous breeds.
- 2.87 lakh crore Grant in Aid for Gram Panchayats and Municipalities.
- 80 lakh per Gram Panchayat and over Rs. 21 crore per Urban Local Body.
- DeenDayalAntyodaya Mission for easing rural distress due to drought
- Allocation of Rs. 38,500 crore for MGNREGS.
- 300 Rurban Clusters under the Shyama Prasad Mukherjee Rurban Mission.
- Government is committed to 100% village electrification by 1stMay, 2018.
- Swachh Bharat Mission, Rs. 9,000 crore has been provided for it.
- Digital Literacy Mission Scheme to cover 6 crore additional rural households in next 3 years.
- ‘Rashtriya Gram SwarajAbhiyan”, to get Rs. 655 crore
- 87,765 crore for rural development
- Health Protection Scheme up to Rs. One lakh per poor family.
- 3000 stores under Prime Minister’s Jan AushadhiYojana will be opened during 2016-17.
- ‘National Dialysis Services Programme’ in all govt district hospitals.
- SarvaShikshaAbhiyan – 62 new NavodayaVidyalayas will be opened..
- Regulatory architecture will be provided to ten public and ten private institutions to emerge as world-class Teaching and Research Institutions.
- Government has decided to set up a Higher Education Financing Agency (HEFA) with initial capital base of Rs. 1,000 crore.
- Pradhan MantriKaushalVikasYojana (PMKVY) – 1500 Multi Skill Training Institutes for Rs 1700 crore will be set up
- The Government will pay Employee Pension Scheme contribution of 8.33% for all new employees enrolling in EPFO for first three years of their employment.
- Infrastructure and Investment. An allocation of Rs. 55,000 crore in the Budget for Roads and Highways has been proposed which will be further topped up by additional Rs. 15,000 crore to be raised by NHAI through bonds.
- Total investment in the road sector including PMGSY allocation would be 97,000 crore during 2016-17.
- Together with the capital expenditure of the Railways, the total outlay on roads and railways will be Rs. 2,18,000 crore.
- 10,000 kms. of National Highways are expected to be approved in 2016-17.
- Abolition of permit-raj will be the medium term goal.
- Amendments in the Motor Vehicles Act
- Enabling eco-system will be provided for the States which will have the choice of adopting the new legal framework.
- New greenfield ports.
- 800 crore has been provided for National Waterways
- 160 airports and air strips with the State Governments which can be revived at an indicative cost of Rs. 50 crore to Rs. 100 Crore each.
- Govt is drawing up a comprehensive plan, spanning next 15 to 20 years to augment the investment in nuclear power generation.
- Govt will permit mobilization of additional finances to the extent of Rs. 31,300 crore by NHAI, PFC, REC, IREDA, NABARD and Inland Water Authority through raising of Bonds.
- Reforms in FDI Policy in the areas of Insurance and Pension, Asset Reconstruction Companies, Stock Exchanges etc.
- 100% FDI will be allowed through FIPB route in marketing of food products produced and manufactured in India.
- A new policy for management of Government investment in Public Sector Enterprises
- Code on Resolution of Financial Firms will be introduced as a Bill in the Parliament during 2016-17.
- RBI Act 1934 is being amended to provide statutory basis for a Monetary Policy Framework and a Monetary Policy Committee through the Finance Bill 2016.
- A Financial Data Management Centre will also be set up.
- To support the banks, an allocation of Rs. 25,000 crore is being proposed towards recapitalization of Public Sector Banks.
- Bill for Targeted Delivery of Financial and Other Subsidies Benefits and Services by using Aadhar framework.
- Automation facilities will be provided in 3 lakh Fair Price Shops by March 2017.
- “Ek Bharat Shreshtha Bharat” programme will be launched to link States and Districts in an annual programme
- Fiscal deficit in RE 2015-16 and BE 2016-17 have been retained at 3.9% and 3.5% of GDP respectively.
- Revenue Deficit target has been improved upon from 2.8% to 2.5% of GDP in RE 2015-16.
- The total expenditure in the Budget for 2016-17 has been projected at Rs. 19.78 lakh crore
consisting of Rs. 5.50 lakh crore under Plan and Rs. 14.28 lakh crore under Non-Plan.
Source : PIB