NEWS FROM THE WEEK
New India Budget: Farmer Friendly, Common Man Friendly, Business Environment Friendly as well as Development Friendly
The New India Budget will Live up to the Expectations of Every Indian Citizen: PM Modi
PM Narendra Modi highlighted the broad objectives of this year’s budget. Underlining its spirit, he said that through this budget his government has put the focus not only on ‘Ease of Doing Business’ but also on ‘Ease of Living’.
Ayushman Bharat: World’s Largest Health Insurance Scheme to be launched
The initiative which will cover over 10 crore poor and vulnerable families (approximately 50 crore beneficiaries) providing coverage upto 5 lakh rupees per family per year, thus providing a robust health protection to the needy.
MSP of Crops Increased to one and half times of production cost
In line with the government’s objective of doubling farmers’ income, the Minimum Support Price (MSP) for all hitherto unannounced crops of Kharif was raised to at least one and half times of their production cost.
Five Pillars of the New India Budget
From Improved healthcare to free electricity connections, the Modi government is ensuring ease of living for every Indian.
Several steps to support the farmers and enhance their income, including launching ‘Operation Greens’ to augment food processing to hiking institutional credit for agriculture to Rs. 11 lakh crore have been announced in the budget.
MSME sector has received a huge boost in the budget, with the government reducing the tax rate for MSME to 25% while raising the allocation for Mudra Yojana to Rs 3 lakh crore.
The budget opens up possibilities for increased savings for senior citizens and salaried class and ensures a premium on honesty.
In order to realize the dream of modern India, to enhance Ease of Living of the common man, the Budget makes a historic allocation for creating Next Generation Infrastructure.
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