First combined railways and financial budget 2017
- Agri Credit Target 10L crores
- Highest ever budget allocation towards MNREGA at Rs.48000 fcr for 2017-18 increased from 38,500
- Building 1 Crore houses by 2019 for the homeless and those living kaccha houses
- National testing agency to conduct entrance exams across all platforms, free up AICTE and CBSE from such responsibilities
- 100% village electrification
- 5 new special tourism zones in partnership with States to improve tourism
- 2 New AIIMS to be set up in Jharkhand and Gujarat.
- Rs 9,000 crore higher allocation for payment of sugarcane arrears
- Plan To Elimiate Kala Azhar by 2017, Leprosy by 2018, Measles by 2020 and Tuberculosis by 2025
- LIC to introduce pension scheme for senior citizens with assured return of 8%
- No service charge on E Rail tickets. That is no service charge on tickets booked through IRCTC
- Proposal to set up a 1 trillion rupee fund for rail safety.
- 500 stations will be made disabled-friendly
- A new metro rail policy will be announced, this will open up new jobs for youth.
- Total rail capital expenditure for fiscal year 2018 pegged at 1.31 trillion rupees
- FIPB will be abolished in 2017-18
- Computer Emergency Response Team for financial sector will be established
- IRCTC, IRFC, IRCON to be listed in stock exchanges.
- PM Mudra Yojana, proposal to double the lending target at Rs 2.44 lakh crore priority to dalits, tribals, backwards.
- The government will launch two new schemes for BHIM App usage.
- Head Post Offices will be the front office for passport services
- New Laws for Economic Defaulters fleeing the country and their assests
- Total exp 2017-18 at 21,47, 000 L cr. Stepped up capital exp by 25% from last year.
- Central travel system to be set up for defence personnel
- Total expenditure of budget has been placed at Rs 21,47,000 cr, up by 8.5% compared to budget estimates.
- Fiscal deficit pegged at 3.2 per cent of GDP in 2017-18 and 3 per cent in the following year.Defence capital expenditure excluding pensions: Rs 86,000 crore
- Holding period from immovable property for long term capital gains tax reduced from 3 years to 2 years
- Capital gains tax to be exempted for persons holding land from which land was pooled for creation of Telangana
- The tax free period 4 building affordable housing projects increased from 3 yrs to 5 yrs.
- MAT can be carried forward for 15 years by companies as against 10 allowed earlier.
- Corporate tax reduced to 25% to encourage MSMEs with annual turnover of less than 50 crore.
- No transaction above Rs 3 lakh will be permitted in cash.
- Cash donations to political parties from any one source down to Rs.2000/- from Rs.20,000/-
- Amendment will be made to RBI Act for electoral bonds where donors can purchase bonds for their choice of political party.
- Propose to reduce existing rate of taxation of those with income between 2.5 lakh to 5 lakh from 10% to 5%
- Surcharge of 10% on income between Rs 50 to 1 crore
- ITR filing become easy a single one-page form for filing IT returns for taxable income up to 5 lakh rupees
- Surcharge of 10% for individuals earning between Rs 50 lakh- 1 Cr Surcharge for incomes Rs 1 Cr at 15% to continue
