1)The Ministry of Railways has decided to set up of a massive rail coach factory in Latur district i.e. in Marathwada region of Maharashtra. It will help to generate employment opportunities and bring economic development in Marathwada region which is one of the most Backward Parts of Maharashtra.
Budget Highlights 2018-19:-
Budget guided by mission to strengthen agriculture, rural development, health, education, employment, MSME and infrastructure sectors.
Agriculture:-
“Operation Greens” launched to address price fluctuations in potato, tomato and onion for benefit of farmers and consumers.
Bamboo is Green Gold:- Launch of a Restructured National Bamboo Mission was announced. Bamboo Grown outside the forest areas have been removed from the definition of trees.
Launch of Gobar-Dhan Scheme announced to improve lives of villagers :- In an effort to make the villages open defecation free and improving the lives of villagers the Finance Minister announced the launch of Galvanizing Organic Bio-Agro Resources Dhan (GOBAR-DHAN).
This will manage and convert cattle dung and solid waste in farms to compost, bio-gas and bio-CNG.
Health , Education :-
Education:-
Launch of an initiative RISE : Revitalising Infrastructure and Systems in Education by 2022 which will be unded through HEFA (Higher Education Financing Agency).
The Finance Minister pointed to the need for best quality education to the tribal children in their own environment. “To realise this mission, it has been decided that by the year 2022, every block with more than 50% ST population and at least 20,000 tribal persons, will have an Ekalavya Model Residential School”.
Health :-
Ayushman Bharat for a new India -2022, announced :-Two major initiatives in health sector announced under AYUSHMAN BHARAT.
The initiatives are as follows:-
(i) Health and Wellness Centre:- The National Health Policy, 2017 has envisioned Health and Wellness Centres as the foundation of India’s health system.
Under this 1.5 lakh centres will bring health care system closer to the homes of people. These centres will provide comprehensive health care, including for non-communicable diseases and maternal and child health services. These centres will also provide free essential drugs and diagnostic services.
(ii) National Health Protection Scheme:- The second flagship programme under Ayushman Bharat is National Health Protection Scheme, which will cover over 10 crore poor and vulnerable families (approximately 50 crore beneficiaries) providing coverage upto 5 lakh rupees per family per year for secondary and tertiary care hospitalization.
This will be the world’s largest government funded health care programme. Adequate funds will be provided for smooth implementation of this programm.
Financial Parameters:- Fiscal Deficit pegged at 3.5 %, projected at 3.3 % for 2018-19.
Science Tech:-
Relief to Senior Citizens proposed:-
To control cash economy, payments exceeding Rs. 10,000 in cash made by trusts and institutions to be disallowed and would be subject to tax.
Push Towards Digital India :-
For Aviation and Railways:
Push will be to expand the Airport capacity to Five Times the Present.
Railways:-
Taxation :-
Corporate Tax:- Earlier the Corporate Tax was 25% for those companies that reported a turnover of 50 Crores and above that the Corporate tax was 30%.
This year's budget increased the Turnover limit to 250 Crores for 25% Corporate tax.
99% MSMEs to gain by Tax Incentives provided in General Budget 2018-19.
Central Board of Excise and Customs to be renamed as Central Board of Indirect Taxes and Customs.
Budget Highlights 2018-19:-
Budget guided by mission to strengthen agriculture, rural development, health, education, employment, MSME and infrastructure sectors.
Agriculture:-
- MSP for all unannounced kharif crops will be one and half times of their production cost.
- 22,000 rural haats to be developed and upgraded into Gramin Agricultural Markets.
“Operation Greens” launched to address price fluctuations in potato, tomato and onion for benefit of farmers and consumers.
Bamboo is Green Gold:- Launch of a Restructured National Bamboo Mission was announced. Bamboo Grown outside the forest areas have been removed from the definition of trees.
Launch of Gobar-Dhan Scheme announced to improve lives of villagers :- In an effort to make the villages open defecation free and improving the lives of villagers the Finance Minister announced the launch of Galvanizing Organic Bio-Agro Resources Dhan (GOBAR-DHAN).
This will manage and convert cattle dung and solid waste in farms to compost, bio-gas and bio-CNG.
Health , Education :-
Education:-
Launch of an initiative RISE : Revitalising Infrastructure and Systems in Education by 2022 which will be unded through HEFA (Higher Education Financing Agency).
The Finance Minister pointed to the need for best quality education to the tribal children in their own environment. “To realise this mission, it has been decided that by the year 2022, every block with more than 50% ST population and at least 20,000 tribal persons, will have an Ekalavya Model Residential School”.
Health :-
Ayushman Bharat for a new India -2022, announced :-Two major initiatives in health sector announced under AYUSHMAN BHARAT.
The initiatives are as follows:-
(i) Health and Wellness Centre:- The National Health Policy, 2017 has envisioned Health and Wellness Centres as the foundation of India’s health system.
Under this 1.5 lakh centres will bring health care system closer to the homes of people. These centres will provide comprehensive health care, including for non-communicable diseases and maternal and child health services. These centres will also provide free essential drugs and diagnostic services.
(ii) National Health Protection Scheme:- The second flagship programme under Ayushman Bharat is National Health Protection Scheme, which will cover over 10 crore poor and vulnerable families (approximately 50 crore beneficiaries) providing coverage upto 5 lakh rupees per family per year for secondary and tertiary care hospitalization.
This will be the world’s largest government funded health care programme. Adequate funds will be provided for smooth implementation of this programm.
Financial Parameters:- Fiscal Deficit pegged at 3.5 %, projected at 3.3 % for 2018-19.
Science Tech:-
- NITI Aayog to initiate a national programme on Artificial Intelligence(AI).
- Centres of excellence to be set up on robotics, AI, Internet of things etc.
Relief to Senior Citizens proposed:-
- Exemption of interest income on deposits with banks and post offices to be increased from Rs. 10,000 to Rs. 50,000.
- Proposed to extend Pradhan Mantri Vaya Vandana Yojana up to March, 2020. Current investment limit proposed to be increased to Rs. 15 lakh from the existing limit of Rs. 7.5 lakh per senior citizen.
To control cash economy, payments exceeding Rs. 10,000 in cash made by trusts and institutions to be disallowed and would be subject to tax.
Push Towards Digital India :-
- An Indigenous 5G Test Bed to be established in IIT, Chennai.
- Mission on Cyber Physical systems.
For Aviation and Railways:
Push will be to expand the Airport capacity to Five Times the Present.
Railways:-
Taxation :-
Corporate Tax:- Earlier the Corporate Tax was 25% for those companies that reported a turnover of 50 Crores and above that the Corporate tax was 30%.
This year's budget increased the Turnover limit to 250 Crores for 25% Corporate tax.
99% MSMEs to gain by Tax Incentives provided in General Budget 2018-19.
Central Board of Excise and Customs to be renamed as Central Board of Indirect Taxes and Customs.
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