Union Budget 2016-17

The finance minister announced nine pillars of the budget Agriculture and farmers' welfare, rural sector, social sector including healthcare, education, skills and job creation, infrastructure, financial sector reforms, ease of doing business, fiscal discipline, tax reforms.
•    Agricultural policy will be reorganised to double farmer income in five years. For gas connections, new scheme to be launched for BPL families.
•    A long term irrigation fund will be created in NABARD with 20000 crore rupees. 35984 crore rupees allocated for the farm sector
•    300 rurban clusters to be set up under Shyama Prasad Mukherji Rurban Mission. 38500 crore rupees allocated to MNREGA.
•    87765 crores rupees for rural development. 100 % village electrification to be achieved by 1 May 2018
•    5500 crore rupees allocated for crop insurance scheme. Health insurance of up to 1 lakh rupees per family, top up of Rs 35,000 for people above 60 years.
•    500 crore rupees allocated for Start Up India scheme.62 new Navodaya Vidyalayas to be opened in next two years.160 airports and airstrips to be revived at a cost of 50-100 crore rupees each
•    Fiscal deficit at 3.5% of GDP in 2016-17. 1% service charge on purchase of luxury cars over 10 lakh rupees and in-cash purchase of goods and services over 2 lakh rupees.
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