[Filler] Budget 2018: Key Highlights
Government Does Not Consider Cryptocurrencies As Legal Tender: FM
There is no love for cryptocurrencies among India policymakers whatsoever and the finance minister makes it clear. He said the government does not consider any cryptocurrencies as legal tender. In fact, he said it is considering all measures to eliminate use of such virtual currencies.
Some Other Notable Announcements:
- Pay To President Of India Revised To Rs 5 Lakh Per Month
- Pay To Vice President Of India Revised To Rs 4 Lakh Per Month
- Pay To Governors Revised To Rs 3.5 Lakh Per Month
FY19 Railway Capex Set At Rs 1.48 Lakh Crore: FM
The finance minister has pegged FY19 railway capex at Rs 1.48 lakh crore. The government has kept an aim to electrify 4,000 Kms of railway lines in FY19.
Good news for Mumbaikars. The government will spend around Rs 40,000 crore on upgrading the city’s train systems.
Key Railway Budget highlights
- Plan 160 Km Suburban Rail Line In Bengaluru At Rs 17,000 Crore
- Rail Stations With More Than 25,000 Footfalls To Have Escalators
Mudra Lending Set At Rs 3 Lakh Crore In FY19: FM
Other key highlights from Budget 2018 so far
- Government To Work Towards Resolving NPAs Of MSMEs
- To Take Additional Measures To Aid VC/Angel Investors In Startups
- To Contribute 12 Percent Of Wages Of New EPF Employees For 3 Years
- FY19 Outlay For Textile Sector Set At Rs 7,100 Crore
- FY19 Allocation For Scheduled Caste Allocation At Rs 56,619 Crore
- FY19 Allocation For Scheduled Tribes At Rs 39,135 Crore
Govt To Launch National Health Protection Scheme For 10 Crore Families
The big healthcare push. The finance minister announced setting up a National Health Protection Scheme for 10 crore families. The scheme will give Rs 5 lakh per family per year.
We will also allocate Rs 600 crore to provide nutritional support for tuberculosis patients
Shares of hospital operators rose after government proposed National Health Protection Scheme.
- Apollo Hospital Enterprise up 3.13 percent
- Shalby up 2.35 percent
- Healthcare Global up 2.8 percent
- Kovai Medical Centre and Hospital up 1.28 percent
To Invest Rs 1 Lakh Crore On Education Infra Over 4 Years: FM
The government also laid its emphasis on improving the quality of education in the country. From training teachers to increasing the digital foundation in education, a whole host of announcements were made by FM Arun Jaitley.
Here are some of the key announcements:
- To Initiate Integrated B-Ed Programme For Aspiring Teachers
- Digital Intensity In Education To Be Increased
- Amended RTE Act To Train 13 Lakh Teachers
- Govt Committed To Ensure Education To Tribal Children
- To Invest Rs 1 Lakh Crore On Education Infra Over 4 Years