Finance Minister Arun Jaitley presents Union Budget 2017-18

Finance minister Arun Jaitley has begun with the fourth Union Budget 2017-18 speech in Lok Sabha. This year’s budget is being watched over keenly in seek of a positive outlook following the demonetization move by the BJP government which rendered the invalidation of Rs. 500 and Rs. 1000 notes nationwide.

While speaker Sumitra Mahajan amid Congress had demanded that the budget should be delayed by a day in view of sitting member E Ahamed’s demise. But Finance Minister Arun Jaitley had tweeted earlier that the Union Budget will be presented as scheduled at 11 am today.

The aim of this budget he says is to digitally transform, energize and clean India from corruption and tax administration for honoring the honest.

Live Updates for Budget:

  • Government proposes initiative to Geo-tag all MGNREGA
  • Increased allocation under the academic sector. 350 online process to be set up for students following IT adoption.
  • New rules introduced to reduce digital device manufacturing prices.
  • Union budget emphasizes on Aadhar card by introducing Aadhar based smart cards for senior citizens which will help in disseminating health details.
  • The total expenditure under Bharat Net project for 2017-18 has been stepped up to Rs. 10,000 crore.
  • Digi-Gaon initiative is being launched for digital technology adoption in rural areas.
  • “India has become a global hub for electronic manufacturing.” A number of mobile and electronic manufacturers have set up their industries in India. India is now at a cusp of massive revolution through the current push for digital transactions.
  • The government has taken up consideration of promoting digital economy to clear black money from the market.
  • 125 lakh people are already utilizing the BHIM app. Two schemes will be launched as measures to promote digital economy through BHIM app for customers and merchants as well.
  • Aadhar pay is set to be launched very soon which will obsolete the need of mobile phone or data.
  • Banks are set to provide 10 lakh POS machines to merchants.
  • Whereas, 20 lakh Aadhar based POS machines will be provided.
  • Digital payments infrastructure shall be strengthened. Steps will be taken to implement it successfully.
  • Transparency in Political Funds: The donation of not more than Rs. 2000 shall be received by cheque or digital platform.
  • Government is considering measures to ensure dishonest cheques of payments through digitization.
  • A comprehensive web-based pension system will be launched for defense pensioners.
  • In another bid to boost digitization, the government has removed service tax on e-tickets.
  • The House is adjourned.

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