GS3 PYQ (Mains Answer Writing): Union Budget | Indian Economy for UPSC CSE PDF Download

One of the intended objectives of the Union Budget 2017-18 is to 'transform, energise and clean India'. Analyse the measures proposed in the Budget 2017-18 to achieve the objective. (UPSC MAINS GS3 )

“Transform, Energise and Clean” India, the Budget has adopted a multipronged approach and has given attention to all sectors of the economy with adequate thrust on rural development, agriculture, infrastructure, skill development, manufacturing and employment generation.

This agenda of TEC India seeks to

• Transform the quality of governance and quality of life of people; 
• Energize 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. Measures proposed to achieve this objective are Traditional 
• Agriculture credit allocation has been increased to Rs 10 lakh crore 
• To save the farmer from the natural calamities, target has been increased to cover 40 per cent of crop area under Pradhan Mantri Fasal Bima Yojana and corpus under Long Term Irrigation Fund has been increased to Rs 40, 000 crores. 
• MGNREGA has got the highest ever allocation of Rs 48, 000 crores Education and Youth -
• Launch of Swayam with over 300 online courses and allocation of Rs 4, 000 crore to train the youth for market-oriented skills under Sankalp are aimed at making India the skill capital of the world Rural Development 
• Mission Antyodaya proposes to pull out 1 crore people and 50000 Gram Panchayats out of poverty 
• Target of 100%village electrification by January, 2018 
• Increasing the pace of the constructions of rural roads- the lifeline of villages, to 133 km per day under Pradhan Mantri Gram Sadak Yojana Clean India 
• Piped water supply on priority basis to Open Defecation Free 
• In a move to curb black money and cleanse the political system, a maximum limit of Rs 2000 per person has been set for receiving cash donations by political parties. 
• Contributions above this limit can be made only in the form of cheques or digital payments or through electoral bonds. Infrastructure 
• Allocation of Rs 1.3 Lakh crores for railways again, is the highest ever allocation for the national carrier with passenger safety; cleanliness and development works being the focus areas. 
• With a view to energise the real estate sector, “Infrastructure” status has been granted to the housing sector 
• Infrastructure has got the highest ever allocation of Rs 3.96 lakh crores. Investment 
• Abolishment of FIPB 
• To promote the small entrepreneurs, rate of Corporate Income Tax has been reduced to 25 per cent for companies with turnover less than Rs 50 crore. Digital Economy 
• Allocation of Rs 10, 000 crore for Bharat Net, launch of AADHAAR Pay, setting of special task force to address the cyber security concerns reiterate the Government’s commitment to transform the country into a digital economy. Taken together, the Budget 2017-18 reiterates the Government’s intentions to bring about greater transparency, reduce corruption and achieve faster economic growth and is a step further in this direction with something for everyone to smile.

Topics Covered- Union Budget