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GEETIKA ARORA
500035783
R128214015
Executive summary
Introduction
Challenges in 2016-2017
Research methodology
Conclusion
Annexure
Executive Summary
Make in india
It contains all the various numerical and percentages changes in various sectors as well as
the part of the budget allocated to the sectors. Detailed changes and reforms to be
expected in the particular sectors have also been given in project.
All the details regarding where a rupee comes from and where will it allocated have also
been shown.
INTRODUCTION
2016aUnion budget of India is the annual financial statement of India for the fiscal year
2016 - 2017. It was presented on 29th February, 2016 by the Finance Minister of
India, Mr . Arun Jaitley. Printing of the budget documents began with a
traditional Halwa ceremony on 19 February 2016. For Budget 20l6-2017, the government
invited suggestions from citizens through Twitter for the first time, even conducting a
series of polls to gauge public priorities as well as expectations from the Budget
CHALLENGES IN 2016-17
Risks of more global slowdown as well as turbulence.
Government to focus on
ensuring macro-economic stability and prudent fiscal management.
boosting on domestic demand
continuing with the pace of economic reforms and policy initiatives to change the
lives of our people for the better.
Focus on enhancing expenditure in priority areas of - farm and rural sector, social sector,
infrastructure sector employment generation and recapitalisation of the banks.
Continue with the ongoing reform programme and ensure passage of the Goods and
Service Tax bill and Insolvency and Bankruptcy law
Achieving accuracy in any research requires a deep study regarding the subject. The
prime objective of the project is to give financial statements regarding the Budget
2016-2017 as well as comparing it with Budget 2015-2016
The research methodology adopted is basically based on secondary data via which the
most recent and accurate piece of Government issued numbers as well as percentages
could be collected.
Thereotical research:The research was done by analyzing the Union budget as stated by
Mr. .Arun Jaitley
Comparitive research: Union budget 2016-17 vs Union Budget union budget 2015-2016
In order to present the report with a pragmatic approach along with the theoretical aspect
Secondary data will be used and analysed in this research.
The Union Budget is presented in the public so as to inform the public of the estimation
of revenue and expenditure which would be incurred by the government in the following
financial year. Union Budget is an elaborative study backed by experts.
A estimation regarding the numbers associated with the Part of the budget for the
particular sector can also be known.
It enables a comparison with previous Union Budgets which shows the percentage
change, may it be positive or negative, to showcase the highlighted sectors
It informs people about the working of the government and estimations of funds
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SOCIAL SECTOR INCLUDING HEALTH CARE
Allocation for social sector including education and health care `1,51,581 crore.
rs2,000 crore allocated for initial cost of providing LPG connections to BPL families.
New health protection scheme will provide health cover up to rsOne lakh per family.
For senior citizens an additional top-up package up to rs30,000 will be provided.
3,000 Stores under Prime Ministers Jan Aushadhi Yojana will be opened during
2016-17.
Stand Up India Scheme to facilitate at least two projects per bank branch. This will
benefit at least 2.5 lakh entrepreneurs.
National Scheduled Caste and Scheduled Tribe Hub to be set up in partnership with
industry associations
Allocation of rs100 crore each for celebrating the Birth Centenary of Pandit Deen Dayal
Upadhyay and the 350th Birth Anniversary of Guru Gobind Singh.
Statutory basis for a Monetary Policy framework and a Monetary Policy Committee
through the Finance Bill 2016.
Amendments in the SARFAESI Act 2002 to enable the sponsor of an ARC to hold up to
100% stake in the ARC and permit non institutional investors to invest in Securitization
Receipts.
MAKE IN INDIA
Changes in customs and excise duty rates on certain inputs to reduce costs and improve
competitiveness of domestic industry in sectors like Information technology hardware,
capital goods, defence production, textiles, mineral fuels & mineral oils, chemicals &
petrochemicals,
paper, paperboard & newsprint, Maintenance repair and overhauling [MRO] of aircrafts
and ship repair.
CONCLUSION
Union Budget 2016 has struck a fine balance between fiscal prudence and providing
growth boost to the economy. The Budget is turning more towards rural consumption,
which in light of consecutive unfortunate monsoons steps will strengthen the India
consumption story which is reliant on rural consumption. As expected, the Budget has
laid emphasis on infrastructure specially roads, it is also about higher taxation for the
elite class and effective utilization of the same proceeds towards the growth and
development story of India.
References
Online References:
1. indiabudget.nic.in
2. http://forbesindia.com/article/budget-2016/union-budget-2016-highlights/
42499/1
Offline References: