O J John Senior Fellow Centre for Rural Management (CRM) National Agency Accredited by MoPR and MoRD, Govt. of India, New Delhi Union Budget, An Overview Financial Inclusion of Local People through the Union Budget Implications on Madhur Panchayat Second Presentation 1

Union Budget  Presented in Parliament on 28 th February 2015  Not mere Statement of Account of Public Finances  Indication of the Direction and Pace of Economy  Road Map for :- Accelerating Growth Enhancing Investment Improving the Quality of Life of the Common People (Farmers, Women, Youth & Students Madhur Panchayat ? 2

Core Objectives  Cooperative and Competitive Federalism  Team India (Team Madhur Panchayat ?)  States Equal Partners in Economic Growth  42% Share of Taxes to States  States are Major Actors  Union Govt. to Guide and Support  Make India a Cash Less Society  Social Sector Programmes to Continue 3

JAM Trinity (Madhur Panchayat ?) Swatch Bharat Abhiyan (Swatch Madhur Abhiyan ?) Goods & Service Taxes Major Initiatives/Reforms 4

Housing for All Basic Amenities for Each & Every Household Employment One Member of a Family Elimination of Absolute Poverty Total Electrification of Villages Uninterrupted 24 hours Electricity Vision – Madhur Panchayat ? Vision – 2022 (Platinum Jubilee Goals) Contd…. 5

All Weather Roads to Habitations Universal Medical Coverage Educating and Skilling Youth Increasing Agricultural Productivity Broad Band Connectivity to all Villages Vision – Madhur Panchayat ? Vision – 2022 (Platinum Jubilee Goals) 6

Good Governance:-  Round the Clock, Round the Year Government  Less Government, More Governance  Red Tape to Red Carpet  Ease of Doing Business  Self Certification  Madhur Panchayat ? Thrust Areas 7

Soil and Water Per Drop More Crop Soil Health Card Scheme Paramparagat Krishi Vikas Yojana Pradhanmantri Gram Sinchai Yojana Hassle Free Farm Credit RIDF under NABARD Unified National Agricultural Market Agriculture 8

MUDRA Bank TReDS Payment Banks under Postal Dept. NBFCs Madhur Panchayat ? Funding the Unfunded:- 9

Pradhan Mantri Suraksha Bima Yojana Atal Pension Yojana Pradhan Mantri Jeevan Jyoti Bima Yojana Senior Citizen/Welfare Fund Physical Aids & Living Devices for Senior Citizens Welfare SCs, STs & Women Nai Manzil for Minority Youth Madhur Panchayat ? Jan Suraksha (Universal Social Security Systems):- 10

Increase in Public Investment National Investment and Infrastructure Fund (NIIF) Tax Free Infrastructure Bonds PPP Atal Innovation Mission (AIM) Self – Employment and Talent Utilization (SETU) Corporatization of Ports Expert Committee for forming Easy Regulatory Mechanism for Investors Set up 5 Ultra Mega Power Projects Infrastructure:- 11

Gold Monetization Scheme Sovereign Gold Bond Indian Gold Coin Monetizing Gold:- 12

Nirbhaya Fund Safe Madhur Panchayat ? Safe India:- 13

FAME (Faster Adoption & Manufacturing of Electric Vehicles) Enhancement of Target of Renewable Energy Capacity Green Madhur Panchayat ? Green India 14

Global Manufacturing Hub Making Madhur ? Make in India 15

National Skill Mission Deen Dayal Upadhyay Gramin Kausal Yojana Pradhan Mantri Vidya Lakshmi Karyakram One Central Institute in each State Skill Madhur Panchayat ? Skill India 16

National Optical Fibre Network Programme (NOFNP) Digital Madhur Panchayat ? Digital India 17

Education Health Rural Development Housing & Urban Development Women & Child Development SCs/STs Development Water Resources & Namami Gange Social Sector Programme 18

Plan Expenditure - 4, 65, 277 Non-Plan Expenditure - 13, 12, 200 Total -17, 77, 477 Tax Receipts - 14, 49,490 Non-Tax Revenues - 2, 21,733 Total - 16, 71,223 Fiscal Deficit - 3.9% of GDP Revenue Deficit - 2.8% of GDP G.D.P Growth - 8 to 8.5% Budgets Estimates – (Rs. in Crores) 19

Six Pillars:- Measures to Curb Black Money Job Creation Minimum Government – Maximum Governance Swatch Bharat Initiatives Benefits to Common People Stand alone Proposals Taxation Policy 20

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