A record one Lakh Crore Rupees expected to be generated through disinvestment during the period 2017-18 Bank Recapitalization program will enable public sector banks to lend additional rupees 5 Lakh Crore The Government has initiated efforts to generate funds as well as undertake banking sector reforms. The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitely, while presenting the General Budget 2018-19 in Parliament here today said that the Government has initiated the process of strategic disinvestment in 24 CPSEs including strategic privatization of Air India. Highlighting the Government’s effort to generate funds, the Finance Minister said that the…
Author: Amit Bhanot
Government to move ahead with reforms for building institutions and improving public service delivery Every Individual enterprise to be assigned a Unique Id Three public sector general insurance companies to be merged into one The Government has taken up several important reforms for building institutions and improving public service delivery across the country over the last three and a half years. While presenting the General Budget 2018-19 in the Parliament today, the Union Minister for Finance and Corporate Affairs, Shri Arun Jaitely said while AADHAR has provided identity to every Indian, every enterprise, big or small, also needs a unique…
“Education will be treated holistically from pre-nursery to class XII”, says Finance Minister Rs. 1, 00, 000 Crore initiative to drive research and infrastructure over the next four years Expressing concern over the quality of education, Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley has said that education will be treated in a holistic manner from pre-nursery to Class XII. Presenting the General Budget 2018-19 in Parliament here today, the Finance Minister expressed the Government’s resolve to increase the digital intensity in education. “The Government proposes to gradually move away from ‘‘black board’’ to ‘‘digital board,’’ he said.…
Ayushman Bharat for a new India -2022, announced Two major initiatives in health sector announced Rs. 1200 Crore allocated for 1.5 Lakh health and wellness Centres National health protection Scheme to provide Hospitalisation cover to over 10 Crore poor and vulnerable families The Government today announced two major initiatives in health sector , as part of Ayushman Bharat programme. The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitely while presenting the General Budget 2018-19 in Parliament here today said that this was aimed at making path breaking interventions to address health holistically, in primary, secondary and tertiary care…
Pradhan Mantri Vaya Vandana Yojana extended up to March 2020 Existed limit on investment under PMVVY enhanced to Rs 15 lakhs With the objective of providing a dignified life to senior citizens, the Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley, announced significant incentives for senior citizens. Presenting the General Budget 2018-19 in Parliament here today, the Finance Minister said that the exemption of interest income on deposits with banks and post offices to be increased from Rs. 10,000/- to Rs. 50,000/- and TDS shall not be required to be deducted on such income, under section 194A. This…
2.5 Crores salaried employees and pensioners to benefit Differently-Abled will continue to get transport allowance at enhanced rate In order to provide relief to salaried taxpayer, the Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley, proposed to allow a standard deduction of Rs. 40,000/- in lieu of the present exemption in respect of transport allowance and reimbursement of miscellaneous medical expenses. However, the transport allowance at enhanced rate shall continue to be available to differently-abled persons. Also, other medical reimbursement benefits in case of hospitalisation etc., for all employees shall continue. Presenting the General Budget 2018-19 in the…
More than 1.26 Crore accounts opened across the country under Sukanya Samriddhi Account scheme 5.22 Crore families benefitted under Pradhan Mantri Jeevan Jyoti Beema Yojana The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitely while presenting the General Budget 2018-19 in Parliament today stated that the Pradhan Mantri Jeevan Jyoti Beema Yojana (PMJJBY) has benefitted 5.22 crore families with a life insurance cover of Rs.2 lakh on payment of a premium of only Rs.330/- per annum. Likewise, under Pradhan Mantri Suraksha Bima Yojana, 13 crore 25 lakh persons have been insured with personal accident cover of Rs.2 lakh…
Fiscal Deficit at 3.3% is expected to be Rs. 6,24,276 crore, to be financed through borrowings The Union Finance Minister Shri Arun Jaitley while presenting the General Budget for 2018-19 in Parliament here today, said that this Budget reflects the government’s firm commitment to substantially boost investment in Agriculture, social sector, Digital Payments, Infrastructure and Employment Generation while simultaneously sticking to the path of fiscal rectitude. The Minister for Finance and Corporate Affairs Shri Arun Jaitely said that the government’s commitment is substantiated by increase in expenditure of Rs 2,24,463 crores over RE (2017-18). He said the aim is for…
372 specific business reform actions being implemented through states National logistics portal as a single window online market place to be developed The Government has been continuously working towards improving the ease of doing business across the country. The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitely, while presenting the General Budget 2018-19 in Parliament today said that the Prime Minister, Shri Narendra Modi has always stressed the importance of good governance with the vision of “Minimum Government and Maximum Governance”. This vision has inspired Government agencies to carry out hundreds of reforms in policies, rules and procedures.…
Budgetary support to Defence sector to remain government’s priority Two Defence industrial production corridors to be developed Government to bring out industry friendly Defence production policy 2018 Ensuring adequate budgetary support to the Defence Sector will be the priority of the Government. Presenting the General Budget 2018-19 in Parliament today, the Union Minister for Finance and Corporate Affairs, Shri Arun Jaitely said that a lot of emphasis has been given to modernizing and enhancing the operational capability of the Defence Forces over the last three and a half years. The Finance Minister appreciated the stellar role played by the Armed…