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Tnpsc Current Affairs: General Budget 2017-18 - 120 Points Remeber - Download PDF

The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley presented the General Budget 2017-18 in Parliament on 01.02.2017 - Important 120 Points to Remember 


  1. Total resource transfer to States and UTs with legislature at Rs 4.11 lakh crore up from Rs 3.6 lakh crore in BE 16-17: FM
  2. Total allocation for rural, agricultural & allied sectors for 2017-18 a record 1,87,223 cr, up by 24%: FM
  3. Total expenditure of this year's budget is 21 lakh 47 thousand crore rupees: FM
  4. Innovation Fund for secondary education to be created: FM
  5. Introduction of a new law for Economic offenders fleeing the country by confiscating their properties: FM
  6. Web based pension distribution system for defense pensioners: FM
  7. Road sector budget increased from 57,676 cr rupees in 2016-17 to 64,900 crore rupees in 2017-18: FM
  8. Centralised Defense Travel System has been designed to allow defense personnel to book tickets online: FM
  9. Sanitation coverage in rural areas has gone up to 60% now: FM
  10. 3,500 km Railway lines to be commissioned in 2017-18: FM
  11. Aadhar based smart cards for senior citizens: FM
  12. Proposal to step up allocation for PMAY Gramin from 15,000 crore to 23,000 crore in next year: FM
  13. Rs 2000 Cr announced for coastal road connectivity; essentially to enhance connectivity to ports & coastal villages: FM
  14. By 2019, All Railway Coaches to be fitted with Bio toilets: FM
  15. 19,000 crore in 2017-18 for PMGSY; together with contribution from states, 27,000 crore to be spent: FM
  16. 20,000 MW solar power plants to be set up: FM
  17. Improvement in working of CPSEs through consolidation, merger and acquisition: FM
  18. 2.44 lakh crore rupees for Pradhan Mantri Mudra Yojan: FM
  19. A revised mechanism of listing of Public Sector Enterprises: FM
  20. During 2017-18, another 5 lakh ponds to be constructed, for drought-proofing: FM
  21. Rs 10,000 crore for recapitalisation of banks: FM
  22. 3.5 Crore youth will be trained under Sankalp program launched by the government: FM
  23. A new metro rail policy will be announced with focus on innovative models of implementation and finance: FM
  24. FM proposes further liberalisation of FDI policy
  25. Mission Antyodaya to bring 1 crore households out of poverty, & to make 50,000 Gram Panchayats poverty-free: FM
  26. 2 new Strategic Oil Reserves to be set up in Odisha and Rajasthan: FM
  27. Expert committee will be formed to study Commodity Market: FM
  28. DigiGaon initiative will be launched to provide tele-medicine, education & skills through digital technology: FM
  29. Foreign Investment Promotion Board to be abolished: FM
  30. By end of FY 2017-18 high speed broadband connectivity on optic fibres will be available in more than 1,50,000 gram panchayats: FM
  31. All taxpayers above 5 lakh rupees to get benefit of 12,500 rupees across the board: FM
  32. 10% Surcharge on individuals with income between 50 lakh to 1 Crore: FM
  33. Surcharge of 10% for individuals earning between Rs 50 lakh- 1 crore; Surcharge for incomes > Rs 1 crore at 15% to continue: FM
  34. A single one-page form for filing IT returns for taxable income up to 5 lakh rupees: FM
  35. Tax on income from 2.5 lakh to 5 lakh reduced from 10 per cent to 5 per cent: FM
  36. Time period of revising tax return to be reduced to 12 months: FM
  37. Amendment to RBI Act proposed to enable electoral bonds: FM
  38. Political parties will be entitled to receive donations in cheque or digital payment, every political party to file IT returns: FM
  39. Long-term capital gains tax on immovable property to apply after 2 years, instead of 3 years now: FM
  40. Maximum amount of cash donation a political party can receive to be 2000 rupees from any one source: FM
  41. Computer emergency response team to be established Cyber security: FM
  42. Rate of growth in advance tax in personal income tax in last 3 quarters of this financial year is as high as 34.8%: FM
  43. Basic customs duty on LNG to be reduced from 5% to 2.5%: FM
  44. Tax rate for companies with an annual turnover up to 50 crores to be reduced to 25%, to strengthen MSME sector: FM
  45. To make MSMEs more viable, income tax for smaller companies to be reduced: FM
  46. Profit linked deduction available to Startups for 3 years out of 5 years will be available for 3 years out of 7 years
  47. Capital gains tax to be exempted,for persons holding land from which land was pooled for creation of state capital of Telangana: FM
  48. Thrust in budget are affordable housing, promote digital economy, bringing transparency in political funding: FM
  49. We are committed to make our taxation rate reasonable,our tax admin more fair & expand the tax base of the country: FM
  50. Only 1.72 lakh people show income above Rs 50 lakh: FM
  51. 1.5 crore people show income between Rs 2.5-5 lakh; 52 lakh people between between Rs 5-10 lakh; 24 lakh above Rs 10 lakh: FM
  52. 5 special tourism zones,anchored on SPV, to be set up; Incredible India II campaign to be launched across the world: FM
  53. Revenue Deficit target at 1.9% of GDP: FM
  54. Govt to commemorate Champaran Satyagraha centenary: FM
  55. Fiscal deficit pegged at 3.2 percent of GDP: FM
  56. Aadhar-enabled payment system AadharPay to be launched: FM
  57. Defence allocation of Rs 2.74 lakh crore: FM
  58. Pradhan Mantri Kaushal Kendras to be extended to more than 600 districts across the country: FM
  59. Total allocation for infrastructure in Budget for Better India stands at a record level Rs 3,96,135 crore in 2017-18: FM
  60. 30. State run companies like IRCON and IRCTC to be listed in markets: FM
  61. Total allocation for infrastructure 3 lakh 96 thousand 135 crore rupees for 17-18: FM
  62. Coverage of eNAM to be expanded from 250 to 585 APMCs: FM
  63. Railways will offer competitive ticket booking facility to public at large: FM
  64. 2,41,387 crore rupees allotted for the transportation sector in 2017-18: FM
  65. Dedicated Micro-irrigation fund to be set up by NABARD to achieve mission of Per Drop More Crop: FM
  66. Service Tax on E-tickets through IRCTC withdrawn: FM
  67. 500 railway stations to be differently abled friendly, selected airport in tier two cities will be in PPP mode: FM
  68. Mini Soil Testing Lab in Krishi Vigyan Kendras to ensure 100% coverage: FM
  69. Railways will integrate end to end transport solutions for selected commodities through partnership: FM
  70. Coverage of Fasal Bima Yojana to go up from 30% of cropped area, to 40% in 2017-18 & 50% in 2018-19: FM
  71. Target for agricultural credit in 2017-18 has been fixed at a record level of 10 lakh crore rupees: FM
  72. Rail Sanraksha Kosh to be set up with corpus of one lakh crore rupees: FM
  73. Women, child, welfare allocation upped to Rs 1,84,362 crore: FM
  74. Total capital for Railways is pegged at 1 lakh 31 thousand crores Rs: FM
  75. Two new AIIMS to be set up in Jharkhand and Gujarat: FM
  76. Speed of construction of roads has increased to 133 km per day: FM
  77. PM Awas Yojna - Gramin allocation raised to 23000 crore: FM
  78. Speed of construction of roads per day has increased to 133 km per day: FM
  79. Incredible India second campaign to be launched world over: FM
  80. Good institutions to have greater administration & academic autonomy: FM
  81. Safe drinking water to cover 28,000 arsenic & Fluoride effected habitations in the next four years: FM
  82. Special scheme for leather and footwear sector: FM
  83. Pradhan Mantri Kaushal Kendra to be extended to 600 districts: FM
  84. Open defecation free villages are now being given priority for Pipe to water supply: FM
  85. National testing agency to conduct all entrance examinations across the country: FM
  86. Merger of Railway Budget with Budget 2017 a historic step: FM
  87. Advancement of Budget2017 will enable all Ministries,Departments to operationalize all schemes right from beginning of next FY: FM
  88. Total allocation for rural & agriculture sectors - 1lakh 87 thousand 223 crore rupees: FM
  89. 100% village electrification will be achieved by May 1,2018 : FM
  90. Sanitation coverage in rural areas have gone up from 42% in Oct 2014 to about 60% now: FM
  91. To complete 1,00,00,000 houses by 2019 for houseless and those living in kaccha houses: FM
  92. Highest allocation in MGNREGA, up from 38,500 crore rupees to 48,000 crore rupees for 2017-18: FM
  93. Participation of women in MNREGA has increased to 55%: FM
  94. Effects of demonetisation not expected to spill over to next year: FM
  95. Overall approach behind budget 2017 is to spend more in rural areas: FM
  96. Firmly believe that GST, Demonetisation, built on JAM, will have an epoch-making impact on the lives of our people: FM
  97. 3 challenges in current global scenario: Monetary stance of US FED Reserve, Commodity prices specially crude oil & retreat from globalisation: FM
  98. Committed to increase the income of farmers in 5 years: FM
  99. Demonetisation aims to create a new normal, where the GDP would be bigger, cleaner and real: FM
  100. Target of Rs 10 lakh crore credit to farmers: FM
  101. GST and Demonetisation two tectonic policy initiatives: FM
  102. Dedicated micro irrigation fund will be set up by NABARD with initial 5000 crore rupees: FM
  103. We will take special efforts to ensure adequate flow of credit to under served areas, Eastern states and J&K: FM
  104. Government has continued with a steady path of fiscal consolidation: FM
  105. Transform, energise & clean India are Govt's agenda: FM
  106. Favourable price developments reflect prudent macroeconomic management: FM
  107. Agriculture expected to grow 4.1% this year: FM
  108. India continues to stand as a bright spot in the world economic landscape: FM
  109. Uncertainty around commodity prices, esp. around crude oil, second major challenge: FM
  110. Current monetary plans of the US Federal reserve one of 3 challenges: FM
  111. FDI rises to 1,45,000 crore rupees in first half of 2016-17: FM
  112. Surplus liquidity in the banking system due to demonetisation will boost economic activity: FM
  113. There are positive signs, that point to a positive outlook for the next year: FM
  114. India's Current Account Deficit decreased frm about 1% of GDP last yr to 0.3% of GDP in 1st half of 216-17:FM
  115. Country's Current Account Deficit declined to 0.3% from 1% of GDP: FM
  116. IMF estimates world GDP to grow at 3.1% in 2016 and 3.4% in 2017: FM
  117. India's macro economic stabiliity continue to be foundation of economic success: FM
  118. Government is now seen as a trusted custodian of public money: FM
  119. Finance Minister Arun Jaitley thanks the people for support to the Government, assures of more measures for people's welfare.
  120. Union Finance Minister Sh. Arun Jaitley presents Union Budget 2017-18 in Parliament on 1st Feb 2017.

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