Finance Minister Arun Jaitley, Modi government’s first full budget was tabled in Parliament. While presenting the budget Jaitley said, our goal is to give everyone at home is to provide basic services like water and electricity to the people by 2022. He said that we have inflation under control, but there is still a lot of work. Before the completion of 75 years of independence, we have set to achieved all goals.
Jaitley said, the government has done well on the economic front. Our economy has undergone a dramatic turnaround. The recession in the world at the moment. There are serious challenges facing the country. Our foreign exchange reserves have increased. Public funding is the first milestone in our plan. In addition, we found that inflation is under control. The goal of keeping inflation below 6 percent. We have made 50 million toilets in 2014-15. We feed some flowers and some are feeding.
1.) It is our goal to be the roof over every citizen of India. We have set a target that by 2022 it got everyone home, not homeless. At the same people have basic facilities like 24 hours electricity, water available. Our goal is to build Six million homes by 2022 in villages and towns. By 2022 add to electricity to all villages.
2.) Plans will continue for poor and needy. For a member of the family is our goal to provide livelihood, are the livelihood of every home. Subsidies for the JAM (public funding scheme, base and mobile) will be used. NREGA scheme will continue. Improve the quality of work holding.
Arrangements for holding 34,699 million. JAM scheme includes two million accident insurance plan. After 60 years of pension provision in the plan JAM plan seeks to add to the post office.
3.) In income tax no change has been done. The current tax exemption will continue. Corporate tax has been reduced from 30 percent to 25 percent is being proposed. Finance Minister plans to loose pockets of the rich. Whose income is above million, 2 percent surtax is imposed on them. Surcharge has increased from 10 per cent to 12 per cent. While the service tax has been increased from 12.36 per cent to 14 percent.
4.) For poor social security three schemes to introduce Arun Jaitley said. These three schemes, irrevocable pension plans, protection insurance, life insurance light. Prime Minister security insurance scheme has starts. In which Rs 2 lakh covered is given, for which Rs 12 premium is to be paid. Atal pension scheme has been introduced in which people will give 1 thousand and government will a pay thousand bucks. The Finance Minister said that our goal is to cover every citizen of the country. Although the people below the poverty line would benefit prime minister insurance plans.
5.) Jaitley said, India needed to promote new industries. The Make in India will be extended, the youth get employment. In infrastructure its need to increase private investment. National Skill Mission Plan will be created.
6.) Finance minister is keen his commitment to farmers. Soil health card will be introduced. Prime Minister agricultural irrigation scheme is proposed for the allocation of Rs 3,000 crore.
7.) Modi government is not going to end subsidy, but Jaitley said that, it needed to be reduce. Jaitley said that high-income subsidized LPG leave voluntarily. The Finance Minister said that soon will start the E-Power Portal.
8.) Budget has been taken care of minorities. Finance Minister minority floor plan for youth allocate 3 thousand 738 crore.
9.) Fiscal deficit to less than three per cent. Seventh Pay Commission will apply next year. SEBI has proposed merger in the futures market. Interest will be held in gold. Gold will get interest on bonds and gold account.
10.) Jammu and Kashmir, Himachal Pradesh and Tamil Nadu will be institutions like AIIMS. Arunachal Pradesh Film Institute will be created. IIMs in Jammu and Kashmir and Andhra Pradesh will be built. Indian School of Mines Dhanbad IIT status has been proposed.
11.) Varanasi and Amritsar heritage will be built world class. It includes monuments such as Jlian garden and Elephanta caves.
12.) Women security was taken care in the budget. Nirbya Fund for Women in Security proposes to allocate Rs 1,000 crore has been budgeted.
13.) Now Gasnges condition probably improves. Modi Government has been given a special attention to clean Ganga. To clean Ganga, Nmami Ganga scheme has been launched, which will be allocated to the four thousand 71 crore.
14.) The target of built a hospital in every village. The system of communication to one of the villages and towns plans. The goal to build a million kilometers of road. In each of five kilometers range has expressed an intention to create a secondary school. Jaitley said, to make the 6 million toilet is our goal.
15.) Modi government has once again expressed its seriousness on black money. Jaitley said that, the suppression of information of black money will be imprisoned for up to 7 years. Penalty of 10 years for the tax evaders. Anonymous to stop at the home of black money transactions (Prohibition) Bill is planning to bring.