Last Updated on April 18, 2019 by GKQUESTIONBANK

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50 KEY NOTES ON UNION BUDGET 2018-19

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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.

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.

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Top 50 GK Notes on Union Budget of India 2018-2019

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Also Learn Union Budget of India in this video.

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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.

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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.

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