SPECIASL REPORT ON
UNION BUDGET 2016-17
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- 89 irrigation projects, requiring Rs. 86,500 crore in next five years, to be fast tracked. 23 of these
projects to be completed before 31st March, 2017.
- 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 R. 12,157 crore.
- Major program for Sustainable Ground Water management proposed for multilateral funding at
a cost of Rs. 6,000 crore.
- 5 lakh farm ponds and dug wells in rain-fed areas and 10 lakh copost pits for production of
organic manure will be taken up.
- Soil Health Cards will be given to 14 crore farm holdings by March, 2017.
- 2,000 model retail otlets of fertilizer companies with soil and seed testing facilities, will be
opened in the next three years.
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6. Rural Sector
- Rs 2.87 lakh crore will be given as Grant in Aid to Gram Panchayats and Municpalities as per
the recommendations of the 14th FC. 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 Antoyodaya
Mission.
- 300 Rurban Clusters will incubate growth Centers in Rural Area.
- All villages will be electrified by 1st May, 2018.
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9. Social Sector
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- 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 Program will be launched. Tax exemptions given to certain parts of
dialysis equipment.
- A new Eco System for SC/ST entrepreneurs will be set up. SC/ST Hub to be set up in MSME
Ministry.
10. Education
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- 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.
11. Skills
- 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 govt.
it is and 50 vocational training centres through open online courses.
- Government of India will pay EPS contribution of 8.33% 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 days a week on voluntary basis.
New jobs in retail sector.
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- Rs. 2, 18,000 crore will be spent on capital expenditure of roads and railways in 2016-17.
- Includes: Rs. 27,000 crore PMGSY
55,000 crore Road Transport and highway
15,000 crore NHAI Bonds
1, 21,000 crore Railways
Unserved and underserved airstrips to be revived by AAI and also in partnership with State
Governments.
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Budget 2016: Here's the list of what's cheaper & what's dearer
Cars, cigarettes, branded garments, air travel will become more expensive, while footwear, solar
lamps and routers are slated to be cheaper following a host of changes in the tax structure in the
Budget for 2016-17.
As a result of additional levy of Krishi Kalyan and infrastructure cess on all services, activities
including eating out and payment of bills will also become more expensive.
Continuing the trend set by his many predecessors, Finance Minister Arun Jaitley today imposed
up to 15 per cent excise duty on all tobacco products.
1. Cars
2. Cigarettes
3. Cigar
4. Tobacco
5. All services like bill payments, eating out, air travel
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1. Footwear
2. Solar lamp
3. Router, broadband modems and set top boxes, Digital video recorder and CCTV cameras
4. Hybrid electric vehicles
5. Sterilised dialyzer
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