List of Major Schemes & Initiatives Announced in Budget 2017-18

Finance Minister Arun Jaitley presenting Budget 2017 in Lok Sabha.

Finance Minister Arun Jaitley presenting Budget 2017 in Lok Sabha.

Finance Minister Arun Jaitly has announced a host of schemes and initiatives in Union Budget 2017-18. Below is the complete list of schemes and initiatives announced by Narendra Modi Government in its third Union Budget for the financial year 2017-18.

List of Schemes Announced in Union Budget 2017-18

  • Special schemes for job creation for youth in shoe and leather industries.
  • Referral bonus scheme for individuals to increase the digital transactions.
  • Cashback scheme for merchants for using digital transactions.
  • 8% guaranteed return scheme on investments by Senior citizens, through LIC.
  • No service charge on Railway tickets booked through IRCTC.
  • Coach Mitra facility to redress grievances related to rail coaches.
  • Aadhaar based health cards to be issued to senior citizens.
  • Adhaar enabled merchant payment will be launched soon, especially for those without net banking, e-wallets, and debit cards.
  • Govt will launch two new schemes to promote the use of Bhim.
  • Rs 500 crore allocated to set up Mahila Shakti Kendras
  • Lending target of Pradhan Matri Mudra Yojana set up at Rs 2.44 lakh crore for 2017-18.
  • Allocation of Rs 10,000 crore for Bharat Net project for providing high-speed broadband in FY18.
  • Digi Gaon will be launched to promote tele-medicine and education
  • Affordable housing to get infra status — banks will have to change the way they lend to builders as well as small home loan borrowers.
  • Trade Infrastructure Export Scheme to be launched in 2017-18
  • Rs10 lakh crore as credit to farmers with 60 days interest waiver.
  • More than 1.5 lakh gram Panchayats to get high speed broadband internet.
  • IT exemption for startup.
  • Allowance for NPAs in banks to be increased from 7.5 per cent to 8.5 per cent.
  • Proposal to set up a National Testing Agency as an autonomous and self-sustained premier testing agency for higher education entrance.
  • No cash transaction above Rs 3 lakh without PAN.
  • Political parties will need to file income tax returns.
  • Computer emergency response team to be set for cyber security of financial sector.
  • Surcharge of 10% in those with income above 50 lakhs per annum.
  • 5% TDS On insurance agents removed.
  • Customs duty on LNG halved to 2.5 per cent.
  • Income Tax of 5% for income between Rs 2.5 lakh and Rs 5 lakh.
  • Web-based interactive platform for defence pensioners

Read More:  BUDGET AT A GLANCE 2017-2018 | Budget 2017: Impacts on Indian Economy Union Budget 2017: Budget Highlights

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