DAILY CURRENT
AFFAIRS: 1 FEB 2018
(DAILY NEWS INDIA)
1. UNION BUDGET 2018-19: COMPLETE ANALYSIS
i. As per the FM in the Union Budget, India is expected to become the 5th
largest economy very soon. The Growth
rate is expected between 7.2-7.5% in the second half of 2017-18. Exports are
expected to grow 15% in 2018.
ii. As per the FM, India is a Rs 2.5 trillion economy. MSP to increase
at least 1.5 times that of production cost. Minimum Support Price of all crops
shall increase to at least 1.5 times that of the production cost.
iii. The government will set up a fund of Rs 2,000 cr for developing
agricultural markets. Our focus is on productive and gainful on-farm and non-farm
employment for farmers and landless families, says Jaitley.
iv. MSP for Kharif cost will be 1.5 times the cost of production. As per
the FM, APMCs will be linked with ENAM. The government will develop 22,000
Gramin agricultural markets.
v. The cluster-model approach will be adopted for agricultural
production. Allocation in food production sector doubled to Rs 1400 cr. Minimum
Support Price shall be increased by 1.5 times. Operation Green will be launched
for agriculture and the Minister allocates Rs 500 cr for this.
vi. Agricultural corpus worth Rs 2000 cr will be set up. 470 APMCs have
been connected to eNAM network, the rest to be connected by March 2018. A fund
for the fishery, aquaculture development and animal husbandry will be set up
with a total corpus to be Rs 10,000 cr. We will also allocate Rs 1290 cr for a
bamboo mission, as it is green gold. In all, we are providing Rs 10 lakh cr to
Rs 11 lakh cr as credit for agricultural activities.
vii. Jaitley proposes to increase the target of providing free LPG
connections to 8 cr to poor women. Ujjwala Yojana, the free LPG connection
scheme expanded to eight cr households. Six cr toilets have been built already,
and in the next year, two cr additional toilets will be constructed.
viii. The government will provide 4 cr electricity connections to the
poor under Saubhagya Yojana. Kisan credit card to be extended to fisheries, animal
husbandry farmers. The government will establish a dedicated affordable housing
fund. Loans to self-help groups will increase to Rs 75,000 cr.
ix. Govt. allocated Rs 5,750 cr to National Livelihood Mission and Rs 2,600
cr to the groundwater irrigation scheme. Ayushman Bharat program discussed. Eklavya
schools for tribal children. 24 new government medical colleges.
x. Government is implementing a comprehensive social security scheme. Govt.
will initiate an integrated B-Ed programme for teachers. Government proposes to
launch the Revitalising of Infrastructure and Systems of Education by next
year.
xi. Govt. proposed to set up two new full-fledged schools of planning
and architecture. 18 new schools of planning and architecture will be set up in
the IITs and NITs. Rs.1 lakh cr over 4 years for initiative for Infrastructure
Devt. in education.
xii. National health protection scheme to cover 10 cr poor families.
Health cover of up to 5 lakh per family per year for poor & vulnerable.
National health protection scheme to benefit 50 cr people. Rs. 600 cr for
nutritional support to all TB patients. This will build a new India in 2022 and
enhance productivity and will also generate lakhs of jobs for women.
xiii. Rs. 1200 cr for health and wellness centres. Govt. is launching a
new national health protection scheme – Rashtriya Samaj Beema Yojana. This will
have 50 crore beneficiaries and 10 crore families will get 5 lakh per year for
their families to cover secondary and tertiary hospital expenses. This is the
world's largest government-funded healthcare program.
xiv. PM Jeevan Beema Yojana benefitted more than 2 crore families. Jan
Dhan Yojana will be extended to all 60 cr bank accounts. The government
increased allocation for SC-ST earmarked programmes: Rs 56,000 cr for SCs and
Rs 39,000 cr for STs.
xv. The government will announce measures to address non-performing
assets of MSMEs. As per the FM, Rs. 3 lakh cr for lending under is being
allocated in FY 19 for PM's MUDRA Yojana.
xvi. Govt to contribute 12% of wages of new employees to EPF for 3 yrs. Rs.
7148 cr allocation for the textile sector. Govt. will launch a scheme for Galvanising
Organic Bio-Agro Resources Dhan. Under the Smart City mission, 99 cities
selected with the outlay of Rs. 2.04 lakh crores.
xvii. EPF contribution has been reduced to 8% for the first 3 years of
employment and 12% government contribution to EPF in sectors employing a large
number of people, however, there will be no changes in employer contribution. 10
tourist cities to be developed into iconic tourist destinations. 600 railway
stations to be redeveloped. Over 3600 km railway track renovation targeted in
the current year.
xviii. Scheme for revitalizing school infrastructure, with an allocation
of 1 lakh crore rupees over four years. Called RISE - Revitalizing
Infrastructure in School Education. The Bharatmala project has been approved
and we are confident of completing 9000 km of highway construction. In
Railways, 18,000 kms of doubling of tracks would eliminate capacity
constraints.
xix. We are moving towards optimum electrification of railway. Over
3,600 km of track renewal is being targeted in 2018-19. 150 km additional
suburban railway network at the cost of Rs. 40,000 cr. Regional air
connectivity scheme shall connect 56 unserved airports. Airport capacity to be
hiked to handle 1 billion trips per year. Training for 50 lakh youth by 2020. Customs
duty increased on mobile phones from 15% to 20%.
