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One Liner Updates

Union Budget 2017-18

Dear readers,

The Budget One Liner is a docket of important information of Union Budget 2017 18. We have made the information concise
and is easy to understand especially keeping in mind upcoming exams like - IDBI Assistant Manager, Syndicate Bank,
Indian bank, India Post Payment Bank, Banking interviews.

On 1st February 2017, Finance Minister Arun Jaitley presented his fourth annual Union Budget in the parliament. The Railways
budget merged with Union Budget, for the first time in the Indian history.

Here are the highlights of this year's budget.

1. Budget 2017-18 contains 3 major reforms.

First, presentation of Budget advanced to 1st February to enable the Ministries to operationalize all activities
from the commencement of the financial year.
Second, merger of Railways Budget with General Budget to bring Railways to the centre stage of Governments
Fiscal Policy.
Third, removal of plan and nonplan classification of expenditure to facilitate a holistic view of allocations for
sectors and ministries.

The revised tax slabs and rates:

Tax -Slabs New Tax Rate

Up to Rs. 3 lakhs No Tax
Between Rs. 3 and 5 Lakhs 5%
Between Rs. 5 and 10 lakhs 20%
Above Rs. 10 lakhs 30%
Income above Rs. 50 Lacs 30% + 10% Surcharge
Income above Rs 1 crore 30% +15% Surcharge

Key highlights:

The Individuals tax rates Slashed on income from 2.5 lakh to 5 lakh reduced to 5 % instead of 10%
0% tax liability on income up to 3 lacs
10% Surcharge on individuals with income between 50 lakh to1 Crore
15% surcharge on individuals with income of 1 cr and more

2. The total expenditure of budget 2017 18 at Rs. 21.47 lakh crore.

3. Fiscal deficit for 2017-18 pegged at _____3.2 % of GDP.
4. Revenue deficit for 2017-18 pegged at 1.9% of GDP
5. Revenue deficit reduced to 2.1 pc from 2.3 pc for 2016-17
6. In the year 2017-18 budget agriculture sector is expected to grow at _____4.1%.
7. How much budget allocated towards recapitalising Public Sector Banks (PSBs), listing Government-owned General
Insurance companies, and spelling out a roadmap for consolidating PSBs. - Rs. 25,000 cr

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8. How many crore Rs. will be given as credit to the farmers with the 60-day interest waiver___ Rs. 10 lakh crore.
9. Amount allocated under Pradhan Mantri Awas Yojana: Rs23,000 crore
10. Govt. has approved the extension of tenure of loans under Credit Linked Subsidy Scheme of the Pradhan Mantri Awas
Yojana from 15 to____ 20 years.
11. Who will set up a dedicated micro-irrigation fund of Rs 5000 crore to achieve the goal of Per Drop More Crop _____
NABARD.
12. The fund for Pradhan Mantri Fasal Bima Yojana has been increased to ______Rs 13240 crore
Note:
Pradhan Mantri Fasal Bima Yojana is the new crop damage insurance scheme and coverage of Pradhan Mantri
Fasal Bima Yojana will be increased from 30% of the cropped area in 2016-17 to 40% in 2017-18 and to 50% in
2018-19.
13. Dairy Processing Facilities will be provided to the farmers and Milk Processing Units with Rs 8000 crore corpus will also
be constructed.
14. Under the Pradhan Mantri Gram Sadak Yojana (PMGSY) Roads has accelerated to reach roads per day in 2016-17___133
km.
Note:
An average of 73 km during the period 2011-2014.
A sum of Rs 19000 crore has been provided in 2017-18 for the scheme.
15. How many houses would be completed by 2019 for the houseless and those living in kutcha houses____ One crore.
16. The Union Government has raised up the allocation for Pradhan Mantri Awaas Yojana - Gramin from Rs 15000 crores to
______Rs. 23000 crores.
17. The Finance Minister has proposed to increase the allocations for Deendayal Antyodaya Yojana- National Rural
Livelihood Mission in 2017-18. ___ Rs 4500 crore.
18. The allocation for Prime Minister's Employment Generation Programme (PMEGP) and Credit Support Schemes has been
increased more than _____ 3 times.
19. Total allocation for the infrastructure sector for the year 2017-18 _____ Rs. 3,96,134 crore.
Note:
Road: (Rs. 64900 crores)
The total length of roads, including those under Pradhan Mantri Gram Sadak Yojana (PMGSY), built from 2014-
15 till the present year is about 140000 kms.
Railways: (Rs. 131000 crores)
This includes Rs. 55000 crores provided by the Union Government.
How many railway stations to be differently abled friendly, selected airport in tier two cities will be in PPP
mode__500.
Rail Sanraksha Kosh to be set up with corpus of ____one lakh crore rupees.
Focus on four major areas: passenger safety, capital and development works, cleanliness, and finance and
accounting reforms.
Railway lines of 3500 kms will be commissioned in 2017-18, as against 2800 kms in 2016-17.
Service charge on e-tickets booked through IRCTC has been withdrawn.
A new Metro Rail Policy will be announced with focus on innovative models of implementation and financing, as
well as standardization and indigenization of hardware and software.
Centralised Defence Travel System will be developed where tickets can be booked by soldiers and officers easily
without any hassle.
Telecom sector:
BharatNet Project has been raised up to Rs.10000 crores.
High speed broadband connectivity on optical fiber will be available in more than 150000 gram panchayats, with
wifi hot spots and access to digital services at low tariffs.
155000 kms of Optical Fiber Cables have been laid.
A DigiGaon initiative will be launched to provide tele-medicine, education and skills through digital technology.

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Energy sector:
set up Strategic Crude Oil Reserves.
A new and restructured Central scheme, namely, Trade Infrastructure for Export Scheme (TIES) will be launched
in 2017-18 to focus on export infrastructure in a competitive world.
Caverns will be set up at 2 more locations, Chandikhole (Odisha) and Bikaner(Rajasthan) in the second phase.
Second phase of Solar Park development was also proposed to be taken up for additional 20000 MW capacity.

20. How many Angadvadi centres will be developed for skill development and employment of underprivileged people____
Around 14 lakh.
21. A scheme for pregnant women has been launched to provide how many Rs to all the pregnant women____ Rs 6000.
22. Women and child welfare allocation has been increased by ____Rs 184362 crore.
23. Senior Citizens, Life Insurance Corporation (LIC) will provide guaranteed how many return on their premium_____8%.
24. Allocation under MNREGA Rs. 48,000 crore
25. How many houses will be completed by 2019 for houseless and those who living in kaccha houses_____1,00,00,000.
26. Highest allocation in MGNREGA, up from 38,500 crore rupees to ____48,000 crore rupees.
27. Participation of women in MNREGA has increased to ____55%.
28. 100% village electrification will be achieved by _____May 1st May,2018.
29. Pradhan Mantri Kaushal Kendra to be extended to ____600 districts.
30. Coverage of eNAM to be expanded from 250 to ____585 APMCs.
31. High speed broadband connectivity on optic fibres will be available in more than gram panchayats ___1,50,000.
32. How many Crore announced for coastal road connectivity; essentially to enhance connectivity to ports & coastal villages___
Rs 2000 Cr.
33. The budget target under the Pradhan Mantri Mudra Yojana (PMMY) has been doubled to ____Rs. 2.44 lakh crores.
34. A common application form for registration, opening of bank and demat accounts, and issue of PAN will be introduced for
_________Foreign Portfolio Investors (FPIs).
35. How many districts of Haryana have become kerosene free___Eight.
36. The Government will launch how many new Schemes to promote the usage of BHIM App___ Two.
Note:
Two schemes are Referral Bonus Scheme for individuals and a Cashback Scheme for merchants.
125 lakh people have adopted the BHIM app so far.
37. A merchant version of Aadhar Enabled Payment System will be launched shortly____ Aadhar Pay.
38. The limit of cash donation which can be received by a Charitable Trust is being reduced from Rs 10000 to ____ Rs 2000.
39. Two new AIIMS to be set up in - Jharkhand and Gujarat
40. Rs 500 cr allocated to set up Mahila Shakti Kendras .
41. Pradhan Mantri Mudra Yojana: Lending target at Rs2.44 trillion
42. New Health Protection scheme will provide health cover up to Rs. 1 lakh per family and additional Rs. 30,000 for senior
citizens.
43. Higher Education Financing Authority set up, with an initial capital base of Rs. 1,000 cr to promote higher education.
44. Expenditure for science and technology is Rs. 37,435 crore.
45. By 2019 all trains will have bio-toilets.
46. Allocation for Scheduled Castes is Rs. 52,393 crore
47. A dedicated micro irrigation fund will be set up for NABARD with Rs 5,000 crore initial corpus.
48. Elimination of tuberculosis by 2025 targeted.
49. Unmanned level crossings will be eliminated by 2020.
50. Rs. 64,000 crore allocated for highways.

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