One crore youths to get skill development training: Jaitley

Budget Highlights-6
(11:55)
* Government to provide health insurance of up to Rs.1 lakh per family; 300 generic drug stores to be opened under PM Jan Aushadhi Yojana

* Roads and highways allocated Rs.55,000 crore, 50,000 km of state highways to be taken up for upgradaing to national highways

* Stand Up India scheme allocated Rs.500 crore for SCs, STs women entrepreneurs

* Government to incentivise gas production from deep sea and other unutilised deep sources

* Public Utility Resolution of Disputes Bill for resolution of infra sector disputes

* Pradhan Mantri Kaushal Vikas Yojan gets Rs.1,700 crore

* Digital depository for school leaving certificates

* Higher education financing agency to be set up with fund of Rs.1,000 crore

* National Skill Development Mission has imparted training to 76 lakh youth; 1,500 multi-skill training institutes to be set up

* Model Shops and Establishments Bill to be circulated for voluntary adoption by states

* Current account deficit down to $14.4 billion

* Rs.2.87 lakh crore for rural and urban local bodies

* Animal welfare programme, animal health card, e-marketing platform for connecting breeders

* 100 percent village electrification to be achieved by May 1, 2018

* Appreciation for 75 lakh middle class and lower middle class families for willingly giving up LPG Subsidy

* Rs.19,000 crore allotted for PMGSY

* Rs.8.5 lakh crore of agricultural credit targetted in 2015-16; and Rs.9 lakh crore in 2016-17

* Rs.35,984 crore allocated for agriculture in 2016-17

* Five lakh acres to be brought under organic farming over three-year period

* MGNREGA to get Rs.38,500 crore

* Recapitalisation of banks during next fiscal

* Prudent fiscal policy needed, domestic demand should be raised, reforms need to be carried out

* Farm, rural sector, infra and social sector to get more funds

* Need to prioritise expenditure given recommendations of 7th Pay Commission and OROP implementation

* Nine pillars for reforming India, among them agriculture, social sector, education, infra, fiscal discipline, and tax reforms

* Presenting budget when global economy in a serious crisis

* Amidst global headwinds, the Indian economy has held its own

* Converted challenges we inherited into opportunities

* CPI inflation down to 5.4 percent from 9 percent-plus, bringing big relief to the public

* Forex reserves at highest-ever level

One crore youths to get skill development training: Jaitley

New Delhi, Feb 29 (IANS) One crore youths would be trained under the government’s skill development programme in the next three years, Finance Minister Arun Jaitley said on Monday.

Presenting the Union Budget for 2016-2017 in the Lok Sabha, Jaitley said the objective of the Prime Minister’s Kaushal Vikas Yojna was to provide skills to one crore youths in the next three years with 1,500 Multi-skill training institutes to be set up.

Rural economy takes top slot in 9 pillars of Jaitley’s budget (Second Lead)

New Delhi, Feb 29 (IANS) Finance Minister Arun Jaitley presented India’s national budget for 2016-17 in the Lok Sabha on Monday, saying the country was a bright spot of the global economy today, while outlining his nine focus areas in which rural development took the top slot.

“I am presenting the budget when the global economy is in crisis,” Jaitley said in his opening remarks, adding that India, however, remained the bright spot in this gloom, turning difficulties into opportunities.

He said India’s growth has expanded 7.5 percent, despite slowdown in exports, even as inflation had eased, bringing big relief to the general public. He also said foreign exchange reserves were robust. “Indian growth is at an extraordinary high.”

Jaitley said his budget will look at three pillars in right earnest: A prudent fiscal policy, raise domestic demand and carry out reforms. He also said farm, rural sector, infrastructure and social sector will be allotted more money.

“Recapitalization of banks also to be done during next fiscal year,” he said, as much concern have emerged over the quantum of exposure of Indian scheduled banks in terms of gross non-productive assets, re-cast loans and write-offs, which amounts to Rs.9.5 lakh crore.

He said the nine pillars of this year’s budget will be: agriculture, social programmes, rural development, education with skill development, infrastructure, financial reforms, policy reforms in terms of ease of doing business, fiscal discipline and tax reforms.

“A unified agriculture platform to be dedicated to the nation on the birth anniversary of Dr.B.R. Amebdkar,” the finance minister said, amid applause from the benches.

He said the government had targeted agriculture credit of Rs.8.5 lakh crore in 2015-16, which was being enhanced to Rs.9 lakh crore in the next fiscal. He also said Rs.19,000 crore will be allocated for rural roads development programme.

Overall, Rs.87,765 crores was being allocated for rural development as a whole.

At the same Rs.35,984 crore was being allocated for agriculture in the next fiscal. This apart, the outlay under the job guarantee programme was being enhanced to get Rs.38,500 crore. These enhanced allocations are capable of transforming villages and towns, Jaitley said.

He said there was also the need to spread digital literacy in rural areas. In addition, he added, Rs.8,500 crore was being allotted towards rural electrification, targeting 100 percent rural electrification by May 1, 2018.

Jaitley also assured that the government intended to double the income of farmers in five years, besides allotting Rs.35,984 crore towards welfare of farmers. The proposals also included universal coverage of cooking gas in the country, with a massive mission towards this aimed at the poor people.

In this regard, he said, the government appreciated the 75 lakh middle class and lower middle class families for willingly giving up cooking gas subsidy.

On health, he said, a new scheme will provide cover upto 1.lakh per family,

Finance minister allocates Rs.38,500 crore for MNREGA
(11:45)
New Delhi, Feb 29 (IANS) Union Finance Minister Arun Jaitley on Monday allocated Rs.38,500 crore for schemes under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA).

He announced this while presenting the 2016-17 annual budget in the Lok Sabha.

In the 2015-16 budget, the allocation for MGNREGA was Rs.34,699 crore.

Budget Highlights-4
* Current account deficit down to $14.4 billion (11:41)
* Rs.2.87 lakh crore for rural and urban local bodies

* Animal welfare programme, animal health card, e-marketing platform for connecting breeders

* 100 percent village electrification to be achieved by May 1, 2018

* Appreciation for 75 lakh middle class and lower middle class families for willingly giving up LPG Subsidy

* Rs.19,000 crore allotted for PMGSY

* Rs.8.5 lakh crore of agricultural credit targetted in 2015-16; and Rs.9 lakh crore in 2016-17

* Rs.35,984 crore allocated for agriculture in 2016-17

* Five lakh acres to be brought under organic farming over three-year period

* MGNREGA to get Rs.38,500 crore

* Recapitalisation of banks during next fiscal

* Prudent fiscal policy needed, domestic demand should be raised, reforms need to be carried out

* Farm, rural sector, infra and social sector to get more funds

* Need to prioritise expenditure given recommendations of 7th Pay Commission and OROP implementation

* Nine pillars for reforming India, among them agriculture, social sector, education, infra, fiscal discipline, and tax reforms

* Presenting budget when global economy in a serious crisis

* Amidst global headwinds, the Indian economy has held its own

* Converted challenges we inherited into opportunities

* CPI inflation down to 5.4 percent from 9 percent-plus, bringing big relief to the public

* Forex reserves at highest-ever level

Budget Highlights-5
* Pradhan Mantri Kaushal Vikas Yojan gets Rs.1,700 crore (11:47)
* Digital depository for school leaving certificates

* Higher education financing agency to be set up with fund of Rs.1,000 crore

* National Skill Development Mission has imparted training to 76 lakh youth; 1,500 multi-skill training institutes to be set up

* Model Shops and Establishments Bill to be circulated for voluntary adoption by states

* Current account deficit down to $14.4 billion

* Rs.2.87 lakh crore for rural and urban local bodies

* Animal welfare programme, animal health card, e-marketing platform for connecting breeders

* 100 percent village electrification to be achieved by May 1, 2018

* Appreciation for 75 lakh middle class and lower middle class families for willingly giving up LPG Subsidy

* Rs.19,000 crore allotted for PMGSY

* Rs.8.5 lakh crore of agricultural credit targetted in 2015-16; and Rs.9 lakh crore in 2016-17

* Rs.35,984 crore allocated for agriculture in 2016-17

* Five lakh acres to be brought under organic farming over three-year period

* MGNREGA to get Rs.38,500 crore

* Recapitalisation of banks during next fiscal

* Prudent fiscal policy needed, domestic demand should be raised, reforms need to be carried out

* Farm, rural sector, infra and social sector to get more funds

* Need to prioritise expenditure given recommendations of 7th Pay Commission and OROP implementation

* Nine pillars for reforming India, among them agriculture, social sector, education, infra, fiscal discipline, and tax reforms

* Presenting budget when global economy in a serious crisis

* Amidst global headwinds, the Indian economy has held its own

* Converted challenges we inherited into opportunities

* CPI inflation down to 5.4 percent from 9 percent-plus, bringing big relief to the public

* Forex reserves at highest-ever level

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