Budget highlights: FM announces a ‘pro-poor’, ‘pro-rural’, budget

From whatever preliminary details available at this moment, the budget 2017-18 presented by the Finance Minister, Arun Jaitley, is identified as a ‘pro-poor’ and ‘pro-rural’ budget. The budget has allocated enormous money on rural infrastructure, social welfare, agriculture, poverty alleviation and et al. The FM, in the budget presentation, assures that the harmful effects of demonetisation will not be carried to the next year. He claims that the bold decisions, taken by the government, strengthen the Gross Domestic Product rate of the country. The budget says that the agriculture production is expected to grow at 4.1 per cent in this fiscal. The budget has allocated nearly 400 billion rupees for long-term rural irrigation projects. The budget has also assured that under the new policy the farm insurance is going to cover nearly forty per cent of net sown. As per the budget, the government aims to achieve 100 per cent rural electrification by 2018. A sum of 48 billion rupees has been earmarked for the rural electrification project. Moreover, in the rural infrastructure sector, around 190 billion rupees have been assigned. Notably, a huge sum of around 480 billion rupees has been awarded to the rural job schemes. It is learned that the budget proposes to revamp the existing labour law for providing more protection to the working class. While speaking in the parliament, FM reassures, “our country stands out as a bright spot in the global economy.”

Vignesh

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