LIVE: Finance Minister Arun Jaitley presents Union Budget 2017

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Union Finance Minister Arun Jaitley is presenting his Union Budget 2017 in the parliament. This is the first time both general and rail budgets will be presented together.

 Arun Jaitley

The opposition parties had demanded the postponement of this year’s budget by a day after the sitting MP and the leader of Indian Union Muslim League, E Ahamed, died of cardiac arrest on Wednesday morning.

This year’s budget has been controversial because of the central government’s decision to bring the date forward by almost a month. Opposition parties had accused the Centre’s BJP government of seeking to extract electoral mileage by announcing big sops to lure voters in five poll bound states including Punjab, Goa, Uttar Pradesh, Uttarakhand and Manipur.

I would have to adjourned the House for the day, but in view of the exceptional situation it will go ahead: Speaker

Here are the key highlights;

  • Arun Jaitley starts speaking amid opposition uproar
  • The Govt is now seen as a trusted custodian of public money,I express gratitude to people for their strong support: Finance Minister Arun Jaitley
  • Our Govt. was elected amidst huge expectations of people, the underlying theme of expectations being good governance: Finance Minister Arun Jaitley
  • We have moved from a discretionary administration to a policy-based administration: Finance Minister Arun Jaitley
  • DeMonetisation is a bold and decisive measure, for many decades tax evasion was a way of life for many:Finance Minister Arun Jaitley
  • Pace of remonetisation has picked up &will soon reach comfortable levels;Effects of Demonetisation not expected to spill over to next year: Finance Minister Arun Jaitley
  • The target for agricultural credit for the FY 2016-17 has been fixed at Rs 10 lakh crore:FM Jaitley
  • Farm sector to grow 4.1% in current year. Budget 2017 targets Rs 10 lakh crore for farm credit: Finance Minister Arun Jaitley
  • Issuance of soil health cards have gathered momentum, will setup a mini lab in krishi vigyan kendras
  • 100% village electrification will be achieved by May 1,2018: FM Jaitley
  • Total allocation for rural, agricultural and allied sectors for 2017-18 is Rs 187223 cr, which is 24% higher than last year: FM Arun Jaitley
  • Budget allocation to MNREGA increased to a record Rs 48,000 crore for 2017-18, from Rs 37,000 crore in 2016-17:FM Jaitley
  • Participation of women in MNREGA has increased to 55%: FM Arun Jaitley
  • PM Gram Sadak Yojna has accelerated to 133 km roads per day versus 73 km in 2014-15. Jaitley
  • For senior citizens, Aadhar cards giving their health condition will be introduced: FM Jaitley
  • Two new All India Institute of Medical Sciences(AIIMS) to be set up in Jharkhand and Gujarat: Arun Jaitley
  • 500 stations will be made differently abled friendly, 7000 railway stations to be solar powered, A new metro rail policy will be announced, this will open up new jobs for our youth: Jaitley
  • Service charge on e-tickets booked through IRCTC to be withdrawn: FM Jaitley
  • By 2019, all coaches of Indian Railways will be fitted with Bio-toilets: FM Arun Jaitley

Political parties will be entitled to receive donations by cheque or in the digital mode from their donors, Maximum cash donation any party can receive will be Rs 2000 from one source: Jaitley

  • SIT has suggested no cash transaction above Rs 3 lakhs. Govt has accepted this: FM Jaitley
  • Surcharge of 10% for those whose annual income is Rs 50 lakh to 1 crore: FM Jaitley

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