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COMPARATIVE ANALYSIS

OF LAST 3 YEARS
BUDGET
Budget:
An estimate of costs, revenues, and resources over a specified period,
reflecting a reading of future financial conditions and goals. One of the
most important administrative tools, a budget serves also as a (1) plan of
action for achieving quantified objectives, (2) standard for measuring
performance, and (3) device for coping with foreseeable adverse
situations.

Union Budget:
The Union Budget of India, also referred to as the Annual financial
statement in the Article 112 of the Constitution of India, is the annual
budget of the Republic of India. It is presented each year on the last
working day of February by the Finance Minister of India in Parliament. The
budget, which is presented by means of the financial bill and the
Appropriation bill has to be passed by the Houses before it can come into
effect on April 1, the start of India's financial year.
An Interim Budget is not the same as a 'Vote on Account'. While a 'Vote on
Account' deals only with the expenditure side of the government's budget,
an Interim Budget is a complete set of accounts, including both
expenditure and receipts. An Interim Budget gives the complete financial
statement, very similar to a full Budget. While the law does not debar the
Union government from introducing tax changes, normally during an
election year, successive governments have avoided making any major
changes in income tax laws during an Interim Budget.

Comparative Analysis of Budget for the last 3 Years

Sector 2013-14 2014-15 2015-16


s
Defence Allocation for Defence Sum of Rs.1000 crore to Rs.2,46,726 crore
Sector increased to Rs.2,03,672 meet requirement for One allocated for Defence,
crore including Rank One Pension. the primary focus of
Rs.86,741 crore for this budget is on
Capital outlay for Defence
capital expenditure. "Make in India" for
increased by Rs.5000 crore
quick manufacturing
Constraints not to come including a sum of Rs.1000
of Defence equipment.
in the way of providing crore for accelerating the
any addition development of the
requirement for the Railway system in the
security of nation
border areas.
Urgent steps would also be
taken to streamline the
procurement process to
make it speedy and more
efficient.
100 crore is provided for
construction of a war
memorial in the Princes
Park, which will be
supplemented by a War
Museum.
100 crore is provided to set
up a Technology
Development Fund for
defense.
Internal Security - 3000
crore is provided in the
current financial year for
modernization of state
police forces.
Adequate allocation for
Additional Central
Assistance for Left Wing
Extremist Affected districts.
2250 crore provided to
strengthen and modernize
border infrastructure.
990 crore allocated for the
socio economic
development of the
villages along the borders.
A sum of 150 crore ear-
marked for the
construction of Marine
Police Station, Jetties and
for the purchase of boats
etc.
50 crores provided for
construction of National
Police Memorial.
Agriculture Average annual growth Government to establish Major steps take to
rate of agriculture and two more Agricultural address the two major
allied sector was 3.6% Research Institute of factors critical to
during XI Plan against excellence in Assam and agricultural
2.5% and 2.4% in IX and Jharkhand with an initial production, that of soil
X plans respectively. sum of ` 100 crore. and water.
In 2012-13, total food- An amount of ` 100 crores Paramparagat Krishi
grain production will be set aside for Agri-tech Vikas Yojana to be
over 250 million tonnes. Infrastructure Fund. fully supported.
Minimum support price
Rs 200 crore provided to Pradhanmantri Gram
for every agricultural
open Agriculture Sinchai Yojana to
produce has increased
Universities in Andhra provide Per Drop More
significantly under the
Pradesh and Rajasthan and Crop.
UPA Government.
Horticulture Universities in
Rs.5,300 crore to
Rs.27,049 crore Telangana and Haryana.
support micro-
allocated to Ministry of
A scheme to provide every irrigation, watershed
Agriculture, an increase
farmer a soil health card in development and the
of 22 per cent over the
a Mission mode will be Pradhan Mantri Krishi
RE of current year.
launched. ` 100 crore has Sinchai Yojana. States
Agricultural research been provided for this urged to chip in.
provided Rs.3,415 crore. purpose and additional `
Rs.25,000 crore in
56 crores to set up 100
2015-16 to the corpus
Mobile Soil Testing
of Rural Infrastructure
Laboratories across the
Development Fund
country.
(RIDF) set up in
To meet the vagaries of NABARD; Rs.15,000
climate change a National crore for Long Term
Adaptation Fund with an Rural Credit Fund;
initial sum an amount of ` Rs.45,000 crore for
100 crore will be set up. Short Term Co-
operative Rural Credit
A sustainable growth of
Refinance Fund; and
4% in Agriculture will be
Rs.15,000 crore for
achieved.
Short Term RRB
Technology driven second Refinance Fund.
green revolution with focus
Target of Rs.8.5 lakh
on higher productivity and
crore of agricultural
including Protein
credit during the year
revolution will be area of
2015-16.
major focus.
Focus on improving
To mitigate the risk of Price
the quality and
volatility in the agriculture
effectiveness of
produce, a sum of ` 500
activities under
crore is provided for
MGNREGA.
establishing a Price
Stabilization Fund. Need to create a
National Agriculture
Market for the benefit
farmers, which will
also have the
incidental benefit of
moderating price
rises. Government to
work with the States,
in NITI, for the
creation of a Unified
National Agriculture
Market.
Financial A standing Council of Time bound programme as Public Debt
Experts to be Financial Inclusion Mission Management Agency
constituted in the to be launched on 15 (PDMA) bringing both
Ministry of Finance to August this year with focus external and domestic
analyse the international on the weaker sections of borrowings under one
competitiveness of the the society. roof to be set up this
Indian financial sector. year.
Banks to be encouraged to
Compliance of public extend long term loans to Enabling legislation,
sector banks with Basel infrastructure sector with amending the
III regulations to be flexible structuring. Government Securities
ensured. ` 14,000 crore Act and the RBI Act
Banks to be permitted to
provided in BE 2013-14 included in the
raise long term funds for
for infusing capital. Finance Bill, 2015.
lending to infrastructure
All branches of public sector with minimum Forward Markets
sector banks to have regulatory pre-emption commission to be
ATM by 31.3.2014. such as CRR, SLR and merged with SEBI.
Priority Sector Lending
Proposal to set up Section-6 of FEMA to
(PSL).
Indias first Womens be amended through
Bank as a public sector RBI to create a framework Finance Bill to provide
bank. Provision of ` for licensing small banks control on capital
1,000 crore as initial and other differentiated flows as equity will be
capital. banks. exercised by
Government in
Rs.6,000 crore to Rural Differentiated banks
consultation with RBI.
Housing Fund in 2013- serving niche interests,
14. local area banks, payment Proposal to create a
banks etc. are Task Force to establish
National Housing Bank
contemplated to meet sector-neutral financial
to set up Urban Housing
credit and remittance redressal agency that
Fund. ` 2,000 crore to be
needs of small businesses, will address grievance
provided to the fund in
unorganized sector, low against all financial
2013-14.
income households, service providers.
farmers and migrant work
India Financial Code to
force.
be introduced soon in
Six new Debt Recovery Parliament for
Tribunals to be set up. consideration.
For venture capital in the Vision of putting in
MSME sector, a ` 10,000 place a direct tax
crore fund to act as a regime, which is
catalyst to attract private internationally
Capital by way of providing competitive on rates,
equity , quasi equity, soft
loans and other risk capital without exemptions.
for start-up companies with
Government to bring
suitable tax incentives to
enabling legislation to
participating private funds
allow employee to opt
to be established.
for EPF or New Pension
Scheme. For
employees below a
certain threshold of
monthly income,
contribution to EPF to
be option, without
affecting employees
contribution.
Education Rs.1,650 crore allocated Government would strive Ensure a Senior
for six AIIMS-like to provide toilets and Secondary School
institutions. drinking water in all the within 5 km reach of
girls school in first phase. every child, while
Allocation of ` 65,867
An amount of Rs.28635 improving quality of
crore to the Ministry of
crore is being funded for education and
Human Resource
Sarv Shiksha Abhiyan (SSA) learning outcomes.
Development, an
and Rs.4966 crore for
increase of 17 perent A student Financial Aid
Rashtriya madhyamic
over the RE of the Authority to
Shiksha Abhiyan (RMSA).
current year. administer and
A School Assessment monitor the front-end
Rs.27,258 crore
Programme is being all scholarship as well
provided for Sarva
initiated at a cost of Rs.30 Educational Loan
Shiksha Abhiyaan (SSA).
crore. Schemes, through the
An increase of 25.6 per
Pradhan Mantri Vidya
cent over RE of the Rs.500 crore provided for
Lakshmi Karyakram
current year for Pandit Madan Mohan
investments in Rashtriya Malviya New Teachers An IIT to be set up in
Madhyamik Shiksha Training Programme to Karnataka and Indian
Abhiyan (RMSA). infuse new training tools School of Mines,
and motivate teachers. Dhanbad to be
Rs.5,284 crore allocated
upgraded in to a full-
to Rs.100 crore provided for
fledged IIT.
Ministries/Departments setting up virtual
in 2013-14 for classrooms as New All India Institute
scholarships to students Communication Linked of Medical Science
belonging to SC, ST, Interface for Cultivating (AIIMS) to be set up in
OBC, Minorities and girl Knowledge (CLICK) and J&K, Punjab, Tamil
children. online courses. Nadu, Himachal
Pradesh and Assam.
Mid Day Meal Scheme Jai Prakash Narayan
Another AIIMS like
(MDM) to be provided National Centre for
institutions to be set
Rs.13,215 crore. Excellence in Humanities to
up in Bihar.
be set up in MP.
Government committed
A post graduate
to the creation of Rs.500 crore provided for
institute of
Nalanda University as a setting up 5 more IITs in
Horticulture Research
centre of educational the Jammu, Chhattisgarh,
excellence. Goa, Andhra Pradesh and & Education is to be
Kerala. set up in Amritsar.
5 IIMs in the States of HP, 3 new National
Punjab, Bihar, Odisha and Institute of
Rajasthan. Pharmaceuticals
Education and
Simplification of norms to
Research in
facilitate education loans
Maharashtra,
for higher studies.
Rajasthan &
Chattisgarh and one
institute of Science
and Education
Research is to be set
up in Nagaland &
Orissa each.
Environment Support to municipalities To finance Clean Swachh Bharat :
that will implement Environment initiatives,
100% deduction for
waste-to-energy Clean Energy Cess
contributions, other
projects. increased from `.50 per
than by way of CSR
tonne to `.100 per tonne.
Government to provide contribution, to
low interest bearing fund Swachh Bharat Kosh
from the National Clean and Clean Ganga
Energy Fund (NCEF) to Fund.
IREDA to on-lend to
Clean energy cess
viable renewable energy
increased from `100
projects.
to `200 per metric
Generation-based tonne of coal, etc. to
incentive reintroduced finance clean
for wind energy projects environment
and 800 crore allocated initiatives.
for this purpose.
Excise duty on sacks
and bags of polymers
of ethylene other than
for industrial use
increased from 12% to
15%.
Enabling provision to
levy Swachh Bharat
cess at a rate of 2% or
less on all or certain
services, if need
arises.
Services by common
affluent treatment
plant exempt from
Service-tax.
Concessions on
custom and excise
duty available to
electrically operated
vehicles and hybrid
vehicles extended
upto 31.03.2016.
Health Health for all and Free Drug Service and Free Improve quality of life
education to all remains Diagnosis Service to and public health
priority. achieve Health For All. Swachh Bharat
Rs.37,330 crore Two National Institutes of Limit of deduction of
allocated to the Ministry Ageing to be set up at health insurance
of Health & Family AIIMS, New Delhi and premium increased
Welfare. Madras Medical College, from `15000 to `
Chennai. 25000, for senior
New National Health
citizens limit increased
Mission will get an A national level research
from `20000 to
allocation of ` 21,239 and referral Institute for
`30000.
crore. higher dental studies to be
set up. Senior citizens above
4,727 crore for medical
the age of 80 years,
education, training and AIIMS like institutions in
who are not covered
research. Andhra Pradesh, West
by health insurance,
Bengal, Vidarbha in
150 crore provided for to be allowed
Maharashtra and
National Programme for deduction of ` 30000
Poorvanchal in UP. A
the Health Care of towards medical
provision of ` 500 crores
Elderly. expenditures
made.
Ayurveda, Unani, Siddha Providing medical
12 new government
and Homoeopathy are services in each
medical colleges to be set
being mainstreamed. village and city.
up.
Allocation of ` 1,069
crore to Department of
AYUSH.
Tourism No major change 200 crore provided to build Resources to be
the Statue of unity provided to start work
(National project). along landscape
restoration, signage
Facility of Electronic Travel
and interpretation
Authorization (e-Visa) to be
centres, parking,
introduced in phased
access for the
manner at nine airports in
differently abled ,
India.
visitors amenities,
Countries to which the including securities
Electronic Travel and toilets,
authorisation facility would illumination and plans
be extended would be for benefiting
identified in a phased communities around
manner. them at various
500 crore provided for heritage sites.
developing 5 tourist circuits
Visas on arrival to be
around specific themes.
increased to 150
100 crore provided for countries in stages
National Mission on
Pilgrimage Rejuvenation
and Spiritual Augmentation
Drive (PRASAD).
200 crore provided for
National Heritage City
Development and
Augmentation Yojana
(HRIDAY).
100 crore provided for
Archaeological sites
preservation.
Sarnath-Gaya-Varanasi
Buddhist circuit to be
developed with world class
tourist amenities to attract
tourists from all over the
world

Projected Growth Rate


Basis 2013-14 2014-15 2015-16

Projected 5.4 5.9 % 8.1 to 8.5% 8- 8.5%


Economic
growth
List of various government policies and programs launched in
2014-15

Make In India:
It was launched on 25th September 2014.
To make India a manufacturing hub.
Make in India is an initiative of the Government of India to encourage
multinational, as well as domestic, companies to manufacture their
products in India.
The major objective behind the initiative is to focus on job creation and
skill enhancement in twenty-five sectors of the economy

Digital India:
Launched on 1st July 2015
To transform Indias economyPrime Minister Narendra Modi at the stage for
Digital India.
Digital India has three core components. These include:
1. The creation of digital infrastructure
2. Delivering services digitally
3. Digital literacy

Skill India:

Launched on 15th July 2015)

To create jobs for youth of the Country

Skill Development in Youth

Making Skill available to All Youth of India

Smart Cities:

Launched on 29th April 2015


In first Government of India Will Develop 100 Smart cities in India
Under this Scheme Cities from all States Are Selected

Unearthen Black Money:

Bill Passed on 14th May 2015

Disclosing Black Money

Punishment for The Black Money holders

Namami Gange:

Namami Gange Project or Namami Ganga Yojana is an ambitious Union


Government Project which integrates the efforts to clean and protect the
Ganga river in a comprehensive manner.
It its maiden budget, the government announced Rs. 2037 Crore towards
this mission.
The project is officially known as Integrated Ganga Conservation Mission
project or Namami Ganga Yojana.
This project aims at Ganga Rejuvenation by combining the existing
ongoing efforts and planning under it to create a concrete action plan for
future.

Swachh Bharat Abhiyaan:

Launched on 2nd October 2014)


To have clean India by 2nd October 2019Swachh Bharat Abhiyan logo.jpg
Eliminate open defecation by constructing toilets for households,
communities
Eradicate manual scavenging
Introduce modern and scientific municipal solid waste management
practices
Enable private sector participation in the sanitation sector
Change peoples attitudes to sanitation and create awareness
Sukanya Samridhi Account:

Launched on 22nd January 2015

The scheme was launched by Prime Minister Narendra Modi on 22 January


2015 as a part of the Beti Bachao, Beti Padhao campaign.

The scheme currently provides an interest rate of 9.2% and tax benefits.

The account can be opened at any India Post office or a branch of some
authorised commercial banks.

Pradhan Mantri Suraksha Bima Yojana

Launched on 9th May 2015


Eligibility: Available to people in age group 18 to 70 years with bank
account.
Premium: Rs.12 per annum.
Payment Mode: The premium will be directly auto-debited by the bank
from the subscribers account. This is the only mode available.
Risk Coverage: For accidental death and full disability Rs.2 Lakh and for
partial disability Rs.1 Lakh.
Eligibility: Any person having a bank account and Aadhaar number linked
to the bank account can give a simple form to the bank every year before
1st of June in order to join the scheme. Name of nominee to be given in
the form.

Beti Bachao Beti Padhao Yojana


Launched on 22nd January 2015)-To generate awareness of welfare service
meants for girl child and women.

Atal Pension Scheme


Launched on 9th May 2015)-for unorganised sector s workers.

HRIDAY (National Heritage City Development and Augmentation


Yojana) scheme
(Launched on 21st January 2015)-To develop heritage cities.

Pradhan Mantri Jeevan Jyoti Bima Yojana


(Launched on 9th May 2015)-Life insurance scheme by Government.

MUDRA Bank Yojana


Launched on 8th April 2015) to provide up to 10 lakh to small entrepreneur .

Krishi Amani Bima Yojana


Scheme for farmer

Pradhan Mantri Gram Sinchai Yojana


To provide water to all field in the Country.

Pradhan Mantri Sansad Adarsh Gram Yojana


(Launched on 11th October 2014)-Each MP to develop three villages by
2019.

Deen Dayal Upadhyaya Grameen Kaushalya Yojana


(Launched on 25th September 2014)- To provide employment to youth
residing in rural area.
Deendayal Upadhyaya Gram Jyoti Yojana
To provide power(electricity) to rural area of the country.

Mahatma Gandhi Pravasi Suraksha Yojana


Mahatma Gandhi Pravasi Suraksha Yojana is a special social security
scheme which includes Pension and Life Insurance, introduced by Ministry
of Overseas Indian Affairs for the overseas Indian workers in possession of
Emigration Check Required (ECR) passports.
It is a voluntary scheme designed to help workers to meet their three
financial needs: saving for retirement, saving for their return and
resettlement, and providing free life insurance offering coverage for death
from natural causes.

Soil Health Card Scheme

Soil Health Card Scheme is a scheme launched by the Government of India


in February 2015.
Under the scheme, the government plans to issue soil cards to farmers
which will carry crop-wise recommendations of nutrients and fertilisers
required for the individual farms to help farmers to improve productivity
through judicious use of inputs.
All soil samples are to be tested in various soil testing labs across the
country.
Thereafter the experts will analyse the strength and weaknesses (micro-
nutrients deficiency) of the soil and suggest measures to deal with it.
The result and suggestion will be displayed in the cards.
The government plans to issue the cards to 14 crore farmers

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