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50 KEY NOTES ON UNION BUDGET 2018-19
On 1st February 2018 Finance Minister Arun Jaitley presented his Budget for the year 2018-19 in the Lok Sabha at Parliament of India. He focused on uplift of agricultural sector, along with major push to healthcare and education sectors in the country in this budget 2018-19.
50 KEY NOTES ON UNION BUDGET 2018-19
We have made up-to 50 Key Notes on Union budget 2018-19 in this post. So lets start to understand 50 KEY NOTES ON UNION BUDGET 2018-19 and learn what is in this budget for Indian economy session 2018-2019.
Top 50 GK Notes on Union Budget of India 2018-2019
Also Learn Union Budget of India in this video.
| NOTES (1) For senior citizens, exemption of interest income on bank deposits raised to Rs 50,000. |
| NOTES (2) This budget proposes a fiscal deficit of 3.3% of GDP for 2018-19. |
| NOTES (3) 5 lakh WiFi hotspots will be set up in rural areas to provide easy internet access. |
| NOTES (4) NITI Aayog will establish a national programme to direct our efforts in the area of Artificial Intelligence towards national development. |
| NOTES (5) National Heritage City Development Augmentation Scheme has been undertaken to preserve and protect heritage cities in the country. |
| NOTES (6) Govt will set up two new Schools of Planning and Architecture. |
| NOTES (7) Budget allocates money for social security and protection programme for all widows and orphaned children. |
| NOTES (8) Govt has proposed subsidized machinery for in-situ management of crop residue in Punjab, Haryana, Uttar Pradesh and NCT Delhi. |
| NOTES (9) Govt will take necessary measures to put in place measures for the state government to purchase surplus solar power produced by local farmers at suitable prices. |
| NOTES (10) Food processing sector is going at an average of 8 per cent per annum. |
| NOTES (11) Government has worked sincerely, and without weighing the political costs, hoping that benefits are delivered to people at their doorsteps. The Direct Benefit Transfer system of India is a success story that is reiterated across the world: Finance Minister said. |
| NOTES (12) This year’s Budget will particularly focus on agriculture. |
| NOTES (13) Arun Jaitey recalls the measures like: GST, FDI, demonetization steps taken by the NDA government in the past four years that have good impacted the economy of the country. |
| NOTES (14) To tackle brain drain, Jaitley announces scheme to identify bright students pursuing B Tech in premiere engineering institutes, and providing them higher-education opportunities in the IITs and IISc. These students will receive handsome fellowships, and will be expected to dedicate a few hours to teach in higher education institutions weekly. |
| NOTES (15) PAN to be used as Unique Entity Number for non- individuals from April 1. |
| NOTES (16) PAN mandatory for any entity entering into a financial transaction of Rs 2.5 lakh or more. |
| NOTES (17) Government will take all steps to eliminate use of crypto-currencies which are funding illegitimate transactions. |
| NOTES (18) Govt announces Amrut program to focus on water supply to all households in 500 cities. Water supply contracts for 494 projects worth Rs 19,428 core will be awarded. |
| NOTES (19) The government will undertake redevelopment of 600 major railway stations across the country. |
| NOTES (20) Capital expenditure of Rs 1,48,528 crore for Indian Railways in 2018-19. |
| NOTES (21) Government aims to bring 60 crore bank accounts under the Jan Dhan Yojana. |
| NOTES (22) Eklavya schools to be started for Scheduled Tribe populations. |
| NOTES (23) Rs 600 crore allocated to Tuberculosis patients undergoing treatment. |
| NOTES (24) This budget proposes a sum of Rs 500 crore for ‘Operation Green’ on the lines of ‘Operation Flood’. |
| NOTES (25) Finance minister also pointed out that India is one of the fastest-growing economies in the world. |