Finance Minister Arun Jaitley announced ten distinct themes in his Budget speech on Wednesday, thereby setting the agenda for the financial year 2017-2018
Unveiling the Budget proposals for the next fiscal in parliament, Jaitley said, “The agenda is to Transform, Energise, and Clean India, that is TEC India".
TEC India seeks to ‘transform’ the quality of governance and quality of life of people; ‘energise’ various sections of society, especially the youth and the vulnerable, and enable them to unleash their true potential; and ‘clean’ the country from the evils of corruption, black money and non-transparent political funding, Jaitley said in his Budget speech in Parliament on Wednesday.
Through schemes like the National Health Scheme, Sarva Shiksha Abhiya and Skill India, government is increasing its focus on improving the health facilities, stepping up investment in education and helping create a central database of skilled and employed personnel, he added.
The finance minister also said that promotion of digital economy is an integral part of the government's strategy, adding it has a transformational impact in terms of greater formalisation of the economy and mainstreaming the financial system into the budget system.
Under the Narendra Modi government, Digital India and other technology initiatives have gained importance, especially after the government’s demonetisation exercise, which was aimed at curbing illegal transactions and ending black money menace.
The ten themes outlined by the finance minister include the following:
- Farmers: providing employment and basic infrastructure
- Rural Population: providing employment and basic infrastructure
- Youth: energising them through education, skills and jobs
- Poor and Underprivileged: strengthening the systems of social security, healtcare and affordable housing
- Infrastructure: for efficiency, productivity and quality of life
- Financial Sector: growth and stability through stronger institutions
- Digital Economy: for speed, accountability and transparency
- Public Service: effective governance and efficient service delivery through people’s participation
- Prudent Fiscal Management: to ensure optimal deployment of resources and preserve fiscal stability
- Tax Administration: honouring the honest