India Announces World's Largest Health Programme

Finance Minister Arun Jaitley presented the Union Budget 2018-19 in the Parliament on Thursday, where he had a challenge to not just realise the 'New India' dream by spurring growth, but also meet expectations of millions of people and different sections of society and businesses of the country.
World's largest government-funded health programme - 'National Health Protection Scheme' was announced. It will cover 10 crore poor and vulnerable families by providing upto Rs 5 lakh per family per year. The government will launch 'Revitalising of Infrastructure and Systems in Education' by 2022 with a total investment of Rs 1 lakh crore in next 4 years.
This budget is significant as it was Modi government's fifth and final full budget. It is also the first one after GST implementation. Clearly, the focus is on low-cost farming. He said besides 'ease of doing business', the government is also focusing on 'ease of living' now. “
Higher Minimum Support Price of all crops shall be increased to at least 1.5 times that of the production cost.Hardwork of farmers resulted in a record production of more than 275 million tonnes of food grain and about 300 million tonnes of horticultural produce,” FM  said.
The Finance Minister expressed hope that economy will grow at 7.2 percent to 7.5 percent in the second half of 2017-18. He exuded confidence that India is on track to grow at 8 percent.
He proposed to raise institutional credit for agriculture to Rs 11 lakh crore for 2018-19. National Livelihood Mission allocated Rs. 5,750 cr in 2018-19.
Bamboo is green gold and restructured National Bamboo Mission will be launched with an allocation of Rs 1,290 crore to promote bamboo sector in a holistic manner, Jaitley said.
Air Pollution in Delhi NCR is a cause for concern, special scheme will be implemented to support Govts of Haryana, Punjab, UP and Delhi NCT to address it and subsidize machinery for management of crop residue, FM said.
By 2022, every block with more than 50% ST population and at least 20,000 tribal people will have 'Ekalavya' school at par with Navodaya Vidyalas.
Government plans to construct 2 crore more toilets under Swachh Bharat Mission, he informed.
Jaitley said the government has successfully implemented series of structural reforms as a result of which India is one of the fastest growing economies in the world. He said FDI has gone up and Indian economy is now a 2.5 trillion economy.

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Highlights of the Budget 2017-18

 

Public Finances

·         Fiscal deficit pegged at 3.2 percent of GDP

·         Revenue Deficit target at 1.9% of GDP

·         Total expenditure for 2017-18 at Rs 21,47,000 crore,

·         The net tax revenue grew by 17% in 2015-16

·         Total resource transfer to States and UTs with legislature at Rs 4.11 lakh crore up from Rs 3.6 lakh crore in BE 16-17

·         Plan, non-plan classification of expenditure done away with in the Budget for 2017-18 to give a holistic picture 

Taxation

·         We are largely a tax non-compliant society & the burden of tax-evaders falls on honest taxpayers Only 1.72 lakh people show income above Rs 50 lakh: FM

·         1.5 crore people show income between Rs 2.5-5 lakh; 52 lakh people between between Rs 5-10 lakh; 24 lakh above Rs 10 lakh

·         Existing rate of taxation of those with income between 2.5 lakh to 5 lakh to be reduced from 10% to 5%:

·         All taxpayers above 5 lakh rupees to get benefit of 12,500 rupees across the board:

·         Surcharge of 10% for those whose annual income is Rs 50 lakh to 1 crore

·         Time period of revising tax return to be reduced to 12 months

·         A single one-page form for filing IT returns for taxable income up to 5 lakh rupees

·         Long-term capital gains tax on immovable property to apply after 2 years, instead of 3 years now

·         No transaction over Rs 3 lakh will be allowed in cash

·         Tax rate for companies with an annual turnover up to 50 crores to be reduced to 25%, to strengthen MSME sector:

 

Infrastructure

·         Total allocation for infrastructure stands at a record level Rs 3,96,135 crore in 2017-18

·         Allocation for national highways stepped up to Rs 64,000 cr from Rs 57,676 cr 

·         Rs 2000 Cr announced for coastal road connectivity - essentially to enhance connectivity to ports & coastal villages

·         Rs27,000 crore on to be spend on Pradhan Mantri Gram Sadak Yojana; 

 

Railways

·         Railways to focus on 4 major areas 1. Passenger safety 2. Capital and development work 3. Cleanliness 4. Financial and accounting reforms

·         Railways plan size for 2017-18 pegged at Rs. 1,31,000 crore

·         Railway line of 3,500 km will be commissioned in 2017-18 as against 2,800 km in 2016-17

·         For rail passenger safety, a fund of 1 lakh crores will be allocated over the next 5 years 

·         500 stations will be made differently abled friendly with lifts and escalator

·         Government proposes Coach Mitra facility to redress grievances related to rail coaches

·         Indian Railways plans to feed about 7000 stations with solar power in the next few years

·         Service charge on e-tickets booked through IRCTC will be withdrawn

·         Railway tariffs to be fixed on the basis of cost, social obligation and competition; 

·         State run companies like IRCON and IRCTC to be listed in markets

 

 

Defence

·         Defence allocation of Rs 2.74 lakh crore

 

 

Agriculture

·         Total allocation for rural, agricultural & allied sectors for 2017-18 a record 1,87,223 cr, up by 24%:

·         Allocation under MNREGA increased to 48,000 crore from Rs 38,500 crore 

·         Rs 9,000 cr higher allocation for payment of sugarcane arrears 

·         Govt to set up dairy processing fund of Rs 8,000 crore over three years with initial corpus of Rs 2,000 crore 

·         Modern law on contract farming will be drafted and circulated to states 

·         Dedicated micro-irrigation fund to be set up by NABARD to achieve mission of Per Drop, More Crop 

·         Coverage of Fasal Bima Yojana to go up from 30 pc of cropped area to 40 pc in 2017-18 and 50 per cent next year 

 

Housing

·         To construct one crore houses by 2019 for homeless.

·         PM Awas Yojana allocation raised from Rs 15,000 cr to Rs 23,000 cr 

 

Trade & Commerce

·         Trade Infrastructure Export Scheme to be launched in 2017-18 

·         Basic customs duty on LNG to be reduced from 5% to 2.5%

 

 

Ease of doing business

·         Foreign Investment Promotion Board (FIPB) will be abolished. 90% of FDI coming through automatic route.

 

Digital India

·         AadharPay, a merchant version of Aadhaar-enabled payment system to be launched shortly for those without debit cards, mobile phones

·         Allocation of Rs 10,000 cr for Bharat Net project for providing high-speed broadband in FY18 

·         By end of FY 2017-18 high speed broadband connectivity on optic fibres will be available in more than 1,50,000 gram panchayats

·         Digi Gaon initiative will be launched to provide tele-medicine, education & skills through digital technology:

 

Skill Development & Empowerment

·         600 districts to get Pradhan Mantri Kaushal Kendra (PMKK) for skilling youth for opportunities

·         “SANKALP” for Livelihood Promotion Programme to be Launched at a cost of Rs. 4000 Crores 

·         Mahila Shakti Kendras to be set up at village level, in 14 lakh ICDS centres, with an allocation of Rs. 500 crore

·         Pradhan Mantri Mudra Yojana lending target has been doubled at Rs 2.44 lakh crore for 2017-18

 

Political funding

·         Max. amount of cash donation a political party can receive to be 2000 rupees from any one source

·         Political parties will be entitled to receive donation by cheque or in digital mode, from their donors

·         Amendment to RBI Act proposed to enable electoral bonds

 

Tourism

·         5 special tourism zones,anchored on SPV, to be set up;Incredible India 2.0 campaign to be launched across the world

 

HRD

·         National Testing Agency to be established to conduct all entrance exams for higher education:

·         Innovation Fund for secondary education to be created

·         Two new AIIMS to be set up Jharkhand and Gujarat 

·         “SWAYAM” Platform will be launched to leverage Information Technology. this will enable students to virtually attend the courses taught by the best faculty; access high quality reading resources, participate in discussion forums; take tests and earn academic grades. Access to SWAYAM would be widened by linkage with DTH channels, dedicated to education.

 

Welfare

·         For senior citizens, Aadhaar based health cards will be issued 

·         Allocation for welfare of women and children increased from Rs 1,56,528 crores in BE 2016-17 to Rs 1,84,632 crores in 2017-18 

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Budget 2017 Is Good News for Real Estate sector

The developers have welcomed the budget 2017 presented by the Finance Minister Arun Jaitley.  Provisions like constructing one crore houses for homeless by 2019  and raising PM Awas Yojana allocation from Rs 15,000 cr to Rs 23,000 cr are being welcomed.

Kishor Pate, CMD - Amit Enterprises Housing Ltd.:

The Budget has announced that 1 crore rural houses will be created by 2019, and the outlay for rural housing under PMAY is Rs. 23000 crores from the previous Rs. 15000 crores. This will help address the housing needs of the homeless and those living in 'kachha' houses in the rural areas, and potentially help reduce pressure on urban areas if it is in conjunction with employment generation

The total allocation for infrastructure is a whopping Rs. 396135 crores in 2017-18. This is very good news for the real estate sector, as the correlation of infrastructure with real estate growth is a well-established fact.

Affordable housing has finally been given infrastructure status. This will mean cheaper loans for developers of budget housing and significantly boost the Government’s target of Housing for All by 2022. The Affordable housing has seen a significant change in the Government’s existing scheme, with the qualifying size requirements now changed from built-up area to carpet area of 30 sqm and 60 sqm for projects within the municipal limits of the large 4 cities.

On the all-important front of personal income tax, the existing tax rate for incomes between Rs. 2.5 lakh to 5 lakh has been reduced to 5%, and taxpayers in other categories will also save Rs. 12,500. While this will definitely boost the overall consumption story, it unfortunately will not have any significant impact on housing demand. However, the FM did indicate that lending rates are likely to come down in the wake of the demonetisation move. A decline in interest rates would have positive implications on housing demand.

Anil Pharande, Chairman - Pharande Spaces:

Project completion timelines for affordable residential projects have now been increased to 5 years, which comes as a relief to developers of such housing as it will allow them more time to sell their inventory.

 The Budget has focused on improving rural connectivity through higher kilometers road construction per day. Also, railway stations redevelopment has received a shot in the arm, with 27 stations to be allocated in the current year. This will help connect more areas and create new development corridors. It has also announced that the PPP mode will be used for select tier 2 airports, and a relaxation of AAI Act for commercial usage of land. The Government will also announce a metro rail policy for implementation and financing of such projects, which will generate additional employmentand therefore interest in home purchasing.

With five tourism zones to be established via Special Purpose Vehicles (SPVs), we will see an increase in tourism to the focus areas, with a direct boost to hospitality. It will also increase appetite for second-home investors focused on the tourism-related rental income in these areas.

The Government has announced that 250 proposals for electronic manufacturing worth 1.2 lakh crore have rolled in. Obviously, this has a direct potential correlation to employment generation and therefore demand for housing in and around the identified manufacturing nodes.

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Railway Budget Off The Track

It Adopts Populist Measure
Mamata Banerjee has doled out many sops in her first railway budget. But I am afraid whether much of those sops can actually be put to use. I myself is angered with the concession given to journalists.

Banerjee today announced a new method of concessions to be given to accredited press correspondents. Under this method, the accredited journalists will receive photo identification cum credit card instead of coupons, which was in vogue till now. Now, I have travelled almost each corner of Maharashtra where the trains reach and never have I used these coupons. First of all, I am not an accredited journalist. Fellows like me can not adjust with the rigorous documentation required for getting accredition. Even in the new scheme, the credit card cum photo identification will be provided based on the certification by the Press Information Bureau and other competent State and local authorities. These authorities are not very forthcoming when it comes to awarding accredition. I know so many journalists in the regional press who, even after working for more than a decade, can not get the accredition.

In addition, concession of 30% will be increased to 50% for accredited press correspondents and permission will be given for once a year to travel with spouse at 50% concession.

Banerjee also announced a new scheme ‘Izzat’ (meaning honour) in the Railway Budget for 2009-10. This is much in the line of her predecessor Lalu Prasad Yadav who used to announce more and more sops for 'poors'. The point is not about depriving them. But let us be clear. Would you like to increase the volume of personnel traffic without heeding conveniences to be provided. Have these ministers really cared how the people are forced to suffer in the overcrowded bogies of long distance trains, sometimes in the ration of 1:4!

The new scheme will provide a uniformly priced monthly season ticket of Rs. 25 for travel up to 100 kms for members of the unorganized sector with monthly income not exceeding Rs. 1500/-. Does minister means that poor families should travel regularly 100 kms to find their wages?

Meanwhile, Pune Railway Station has been included in the list of 50 railway stations to be developed as world class stations. This is an old plan and nothing new in it. In fact, the work on modernisation of the station has taken a back seat for last one year.

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A Bhandar of Controversies

Till now, people used to talk about Bhandarkar Oriental Research Institute as a place of scholars. But for the last one month, they are witness to an ugly brawl of accusations and re-accusations between various parties. The premier institute in indology is now in the midst of a fight which is attributed to the power struggle in the institute. The thing settles to one thing : the contrlo of the grant of Rs. 7.5 Crores which BORI, is getting from central government.

Election is being conducted for BORI’s executive council on 5 June. For 25 seats in the institute, a total of 48 candidates are in the fray. The main players in this election are M. G. Dadhphale, present honourary secretary of the institute and Saroja Bhate and Dr. Lila Arjuwadkar, ex-honourary secretary. While Dhadphale is facing accusations from all quarters ranging from misappropriation of the funds to patronising encorachments, he refutes the charge that rival camp is making the charges keeping in view impending elections.

The issue came to surface on 5 May when Bhate and Arjunwadkar announced a one day silent protest against an alleged ‘encroachment’ in the institute. The matter was related to Green Glory Nursery, which was given a place in the premise on a one year lease. The lease period was over in January 08 still the nursery has not moved out. Bhate and Arjunwadkar camp alleges that Dhadphale is patronising this encroachment. Dhadphale refutes the charge and claims that he had issued notice to nursery. Meanwhile, Surekha Pathak, who runs this nursery has alleged that her nursery has made a scapegoat in the internal politics of the institute.

Commenting about the controvesy, Saroja Bhate, a member of the Executive Body of the institute, said, "We are not in conflict with Dhadphale but we have some points to make. First he cliamed that he has bought Rs. 11 Cores to institute, then he came to Rs. 7 crore and now he is settling on Rs. 5 Crores. This grant is government’s decision, he has no hand in it. He does not have any document to prove his claims and our information is that Rs. 2 Crore which were to be received for digitization project have returned because the money was not used as stipulated. He is not convening meeting and information aboout anything is not provided. Angered with Dhadphale’s this style of functioning, all members of the executive body had resigned last year."

Bhate expressed unhappiness over this controversy bringing disrepute to institute. "Each one of us is trying to avoid any harm being done to the image of BORI. We are approching the press. But in this situation, what more can we do," she asked.

Leela Arjunwadkar, who has stood against Dhadphale said, "The institute has run into mismanagement in all respect. Dhadphale even does not give any information about anything. He does not honour even senior members. Even in his earlier stint in 2002-05, the institute was better. After that, he claimed that he has changed for the better. When I asked him how can he say so, he couldn’t say anything."

Arjunwadkar said that for the last two years, there has been no commendable research in the institute. The image of the institute has been spoiled bacause of the various controversies, which was never happened in the past . "Dhadphale’s claims about bringing the grant on his own as well as about the status of the nursery were challenged. In BORI, General Body is supreme. Then come Regulating Council and Executive Body. Secretary is only a chief executive officer. Still he functions as though he is responsible to none. Even our election are staring in the face and still there is no scrutinizer for the process, which is mandatory by the rules."

M. G. Dhadphale could not be contacted in his office as well as his residence even after repeated attempts.
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This is not the only issue dragged to the public glory. Court cases to money matters, the drama involves all.
Just a week ago, distirct magistrate S. S. Phanasalkar-Joshi dismissed a resolution passed by the excutive body of the institute prohibiting Dhadphale from functioning as honorary secretary.

A controversy is raging wherein new applications for life membership are pending for over six months. G. T. Panse, executive board chairman of the institute have accused Dhadphale for this saying he is not following the statuary rules. Dhadphale has obviously refused the charges. The issue assumes siginificanse as more than 1,600 life members eligible for votijg in the election.

Pandit Vasantrao Gadgil and Dhadphale were involved in a controversy some time ago as ‘differences’ among them caused a delay in payment of the salary to employees. Folowing some exchanges between them, Pt. Gadgil offered to resign from the post of treasurer but later resented and cancelled the offer.
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The new governing council will control the use of grant money announced by Union Finance Minister P. Chidambaram in his budget for the year 2007-08. The raging controversies are attributed to the full flowing coffers of the institute. After the vandalization of the institute in January 2004, it has survived on the limited funds which came largely from the state government.

Some three months back, Bori received Rs 5 crore as a first instalment of the Rs 7.5-crore share that came its way through the Rs 30-crore special grants announced in the Union Budget 2007, for four premier institutions in the country.

Apart from this special grant, Chidambaram had announced a grant of Rs. 2 crore grant during his visit to theb institute in December 2006 for the digitisation of rare manuscripts and books.

Chairperson of Infosys Foundation Sudha Murthy had donated Rs 20 lakh to the institute.

National Manuscript Mission too has donated Rs 5 lakh for preservation of the 29 rare Rigveda manuscripts that have figured in the UNESCO’s ‘World Memory’ list.

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