Highlights from Union Budget 2017: Cheer for agriculture, boo for political parties
Here we bring you the highlights from Union Budget 2017...
New Delhi, Feb 1: The much-anticipated Union Budget 2017 was presented by Finance Minister Arun Jaitley on Wednesday. OneIndia brings the key points from the budget for its readers:
Here are the sector specific points
Rail Budget: More on travel experience, less on safety
--Service charge on tickets booked through IRCTC to be withdrawn
--Rail safety fund with a corpus of Rs 100,000 crore created
--Dedicated trains for pilgrimage, tourism
--500 rail stations to turn differently abled-friendly
--25 train stations expected during 2017-18
---New metro rail policy to be announced.
--Bio-toilets for all train coaches
--No more unmanned railway crossing by 2020
India after demonetisation
--After note ban, GDP to turn bigger, cleaner and real
-- Effects of demonetisation to end before next year
-- Pace of remonetisation has picked up
Income Tax: No respite for crorepatis
-- 15% surcharge on incomes above Rs 1 crore to continue
-- Surcharge of 10% for those whose annual income is Rs 50 lakh to 1 crore
--Reduction of existing taxation rates for those whose income is between 2.5 lakh to 5 lakh from 10% to 5%
Monetary curbs on political parties
-- Political parties to receive donations only by cheques or online
-- Maximum cash donation any party can receive will be Rs 2000 from one source
Modernisation of agriculture
--Rs 75 lakh package for cleaning, packaging of farm produce
--Model law on contract farming to be formulated
--Nabard to create 63,000 agricultural credit societies
--Farm credit fixed at Rs 10 lakh crore
--Crop insurance to spread over 40% area cropped
--Dairy processing infrastructure fund under Nabard
--Computerisation of Nabard to help poor farmers
--Focus on farmers from Northeast and Kashmir.
--Mini labs in Krishi Vigyan Kendras
OneIndia News